American Express to Upgrade Platinum Cards with New Benefits and Lounges
American Express upgrades Platinum Cards with new travel, dining, and business perks plus expanded Centurion Lounge access in Newark, Salt Lake City, and Tokyo.
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American Express (Amex) is set to make the largest update ever to its Platinum credit cards later this year, enhancing travel, dining, and business benefits while expanding lounge access. The update will apply to both the US Consumer and Business Platinum Cards, which have remained popular for over 40 years, especially among Millennials and Gen Z, who accounted for 35% of all US consumer spending last quarter.
Howard Grosfield, head of US Consumer Services, highlighted that the revamp will improve the card’s lifestyle offerings and refresh its design to meet evolving customer needs. Amex currently offers access to over 1,550 airport lounges worldwide, including 32 exclusive Centurion Lounges. Three new Centurion Lounges will soon open in Newark, Salt Lake City, and Tokyo, further expanding access.
Steve Squeri, Amex CEO, aims to attract more affluent younger customers with these upgrades, expected by late summer or early fall. The company will maintain popular existing perks and add new brand partnerships to enhance value.
Since raising the Platinum Card fee to $695 in July 2021 and adding $200 in annual hotel credits, Amex has faced stiff competition from rivals like JPMorgan Chase’s Sapphire Reserve and Capital One’s Venture X Rewards cards. The upcoming changes aim to strengthen Amex’s position in this competitive market.
For business cardholders, new features will include flexible spending limits, enhanced rewards on business expenses, virtual cards, and tools for cash flow management. Business members will continue to enjoy lounge access, dining, and hotel benefits.
One of the standout features of the Platinum Card remains its extensive lounge network. The soon-to-open Centurion Lounge at Tokyo’s Haneda Airport, along with those planned in Newark and Salt Lake City, will provide travelers with more premium spaces worldwide.
With this upgrade, Amex hopes to reinforce its leadership in luxury travel credit cards and deliver enhanced value to its loyal customers.
