Consumer Finance

Warren Buffett, American Express Reaping Platinum Card Rewards

American Express CEO Ken Chenault said last week that he would like to see more growth in the economy, but overall he is happy with the company’s performance, saying its first quarter was “very, very good.”

“At the end of the day, we feel good about our performance because we have a very diversified business platform,” Chenault told FOX Business’ Liz Claman at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, which was also attended by Warren Buffett, American Express’s largest shareholder. “Most of the growth is really being generated by the actions that we’re taking in the marketplace.”

The company has seen success with its Platinum card, a premium travel reward credit card. For an annual fee of $550, users receive $200 in annual Uber credits, a $200 airline fee credit and 5X Membership Rewards points on flights and eligible hotels booked directly with airlines or with American Express Travel.

“2016 was the best year in the history of Platinum in terms of both cards and spend. So we feel very good about the Platinum,” he said.

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