From Yahoo Finance: 2025-06-16 07:00:00

American Express plans to refresh its Platinum Card and Business Platinum Card to appeal to Gen Z consumers. The company saw a 40% increase in Gen Z cardholders in Q1 of 2025. Highlights of the refresh include new Centurion Lounges and expanded dining benefits to build loyalty.

The refresh aims to double down on benefits loved by card members, with a focus on travel, business, and dining. American Express plans to open three new Centurion Lounges and add 7,000 new dining experiences, giving cardholders priority access to tables in partner establishments.

Gen Z cardholders, despite a $695 annual fee, find value in the Platinum Card’s perks. American Express CFO says younger cardmembers view the fee as worthwhile due to the experience provided. The company aims to capture Gen Z’s loyalty early, offering various products as their financial needs evolve.

The American Express Platinum Card offers 5x points on flights and hotels, up to $200 in statement credits, and $200 in Uber savings annually. While the card has a high annual fee, its benefits can offset the cost for everyday use. However, not all benefits may be fully utilized, affecting overall value.



Read more at Yahoo Finance: Amex Platinum refresh adds new lounges, dining perks to appeal to Gen Z cardmembers