The Cool Kids' Card

The New York Times declared a turning of the tide in the credit card "snob war," as they dubbed it. The Chase Sapphire Reserve now reigns supreme amongst millenials as the cool premium credit card. An AMEX Platinum card screams, "I'm trying to prove I'm a big shot," whereas a Sapphire Reserve card eloquently states, "you're interesting."

To me, this is a fascinating kind of 'snobbery'. It's no longer enough to be appear affluent; you have to appear fascinatingly different as well.

Of course, this is all appearance and not substantive. It always has been. But that's what has AMEX executives so terrified. The brand that they've built and marketed for all these years is no longer with it. Whatever it is has changed, and they'll have to change too, if they want to keep their market share of young, affluent adults.

+ I still think the AMEX Platinum card is the very best premium travel card on the market, when it comes to perks, even though I wish their new and improved version of the card had gone further. There are plenty of benefits (see here & here!) the card offers that the Sapphire Reserve doesn't come close to matching.

None of the above means I'm a Sapphire Reserve hater, though. I think it's a wonderful everyday spend card! But I think it belongs in a different, non-premium category, despite it's high annual fee.