American Express announced plans to overhaul its Platinum Card, targeting millennial and Gen Z consumers with expanded lounge access and enhanced dining benefits. The refresh will roll out in fall 2025. It represents Amex’s largest-ever investment in updating a card product and comes at a critical time when younger generations already account for 35% of the company’s total U.S. consumer spending.
According to Howard Grosfield, Amex Group President of U.S. Consumer Services, the company aims to take the Platinum Card “to a new level, not only in what they offer in travel, dining and lifestyle benefits but also in how they look and feel, to meet the evolving needs of our customers.” The move comes more than four years after Amex’s last major Platinum Card update in 2021. This previous update added numerous benefits and raised the annual fee to $695.
What’s Changing With The American Express Platinum Card
Airport lounge access remains a cornerstone of the Platinum Card value proposition, with Amex poised to open three new Centurion Lounge locations within the next year. This expansion will bring its premium lounge network to 32 locations worldwide, reinforcing Amex’s first-mover advantage in the airport lounge space that began over four decades ago.
Amex specifically highlighted dining programs as a key focus area for the refresh, likely aiming to appeal to younger cardholders who prioritize culinary experiences. While specific details remain under wraps until fall, industry observers expect enhanced restaurant reservation services, expanded dining credits, and potential new partnership with popular food delivery platforms that resonate with Gen Z spending habits.
The timing of Amex’s announcement appears deliberately calculated to counter Chase’s heavily promoted upcoming Sapphire Reserve refresh. With Capital One’s Venture X card also recently updated, 2025 is shaping up to be a landmark year for premium credit card competition.
Physical Card Design Getting A Makeover
Beyond digital benefits, Amex specifically mentioned changing how the Platinum Card “looks and feels,” suggesting a physical redesign is coming. This aesthetic update could appeal particularly to image-conscious Gen Z members who view their payment methods as status symbols and extensions of personal brand identity.
The exact details of the refreshed benefits package remain confidential until the official fall announcement. Still, the company’s emphasis on capturing younger premium cardholders signals a strategic pivot as American Express works to ensure its flagship product remains relevant to evolving consumer preferences.
