NEW YORK—American Express has introduced a new credit card for wealthy “jet-setters.”
The Starwood Preferred Guest (SPG) American Express Luxury Card is aimed at American Express's "most premium and often-traveling, globetrotting" customers, MarketWatch said.
The card also comes with an annual fee of $450.
“The new card arrives as American Express has faced some pressure from competitors, including the Chase Sapphire Reserve card and the Citi Prestige Card,” MarketWatch said.
The new card debuts in August and comes with an annual perk designed to make customers loyal: one free hotel stay at participating SPG and Marriott Rewards hotels on the anniversary of the day the customer opened their account, MarketWatch said.
That one night can be at or under the value of 50,000 points.