Prime Highlights
- American Express is introducing the biggest overhaul to its U.S. Consumer and Business Platinum Cards later this year.
- The redesign comes with increased travel, dining, and lifestyle benefits as well as a new physical card design.
Key Facts
- The $695 annual fee isn’t changing despite significant benefit upgrades.
- Upgrades include access to more than 1,500 airport lounges worldwide and more restaurant partners.
- The action is designed to directly compete with competing premium cards, including Chase’s new business Sapphire Reserve.
Key Background
American Express is making its largest investment ever in its flagship Platinum Cards by announcing an extensive overhaul that will begin rolling out later in 2025. The announcement follows increased competition in the high-end credit card market, with JPMorgan Chase gearing up to introduce new products designed to appeal to high-spending companies and consumers.
The Platinum Card, long a status symbol and emblem of luxury since its introduction more than 40 years ago, will soon become even more alluring to high-end users. American Express is leaving the existing $695 annual fee alone, but greatly increasing the value proposition to cardmembers. The update adds new travel and dining rewards, a new design, and greater access to special experiences.
Major improvements involve an expansion of the airport lounge network. Cardholders will be able to visit over 1,500 lounges globally, including the three newly announced Centurion Lounges at Newark, Salt Lake City, and Tokyo. These additions will make international travel and domestic travel more comfortable and luxurious.
Dining privileges are also being given a significant upgrade through a new collaboration with Tock, adding access to about 7,000 more reservation-only restaurants, which adds convenience and exclusivity for card members. In the hotel space, American Express is increasing its Fine Hotels & Resorts and Hotel Collection relationships to encompass hundreds more hotels, providing benefits like late check-out, room upgrade, and property credit.
Along with benefits, the physical and digital layout of the card is also being updated to show a fresher, more contemporary appearance that better aligns with changing customer tastes. The changes are intended to deliver a more personalized, premium experience as customers, further supporting AmEx’s brand positioning as a leader in lifestyles and travel.
This rebrand is not cosmetic—it’s tactical. By doubling down on rewards in the form of experiences and high-end access, American Express is setting itself up to retain and win over wealthy individuals and business owners who are looking for more than points and cashback. More information is to come in the fall, when the full launch commences.
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