“And as you know, what we do is just like we wait until the renewal anniversary of the card member to increase you know, to move the card member to the new price point. So and then we amortize it over twelve months. So the cost of card member service moves kind of like immediately, and it takes, you know, like, maximum two years for the card fee benefit to flow through the P&L.”

In context

“e value out of product. There's a lot of value words there, but and that's what we'll continue to do. And I think that you know, one of the things that we've done here is we really have expanded overall last refresh the set of services and benefits and premium partners that are in the product. And you know, not every card member uses every benefit, but that's okay because it gives people the opportunity to pick and choose, but they do use enough of the services and the benefits that it more than outweighs whatever fee they're gonna pay. Christophe Le Caillec: And maybe just to build on either the how this could play out in the financials, the way to think about it, Mark, is that as we launch the new value proposition, you should expect to see a step up in the cost of card member services. And as you know, what we do is just like we wait until the renewal anniversary of the card member to increase you know, to move the card member to the new price point. So and then we amortize it over twelve months. So the cost of card member service moves kind of like immediately, and it takes, you know, like, maximum two years for the card fee benefit to flow through the P&L. But all of that was kind of built in our guidance, in our planning, and expectations since the very beginning. Operator: Thank you. The next question is coming from Don Fandetti of Wells Fargo. Please go ahead. Don Fandetti: Yes. Stephen, can you talk a little bit about international in terms of your acceptance, growth, and how you're tracking versus your targets? And maybe, you know, a bit on the competitive dynamics. I think you generally felt like it's less competitive internationally. Stephen Squeri: Well, I don't know about less competitive. I think, you know, internationally, has its own set of challenges and own set of regulations. I think sometimes, you know, the regulations can make it a little less maybe a little less interesting for certain players to get into the market. But o”