The Amex Platinum card is about to enter a new era—and the timing couldn’t be more exciting. With American Express just announcing sweeping changes for both its U.S. consumer and business Platinum cards, the luxury credit card rivalry is heating up as both Amex and JPMorgan tease updates to their premier cards. In a year already packed with premium card revamps, Amex is making its biggest investment ever in its flagship offering, promising enhanced benefits, new experiences, and a sharper focus on younger, high-spending cardholders.
Luxury Credit Card Rivalry Heats Up as Amex, JPMorgan Tease Updates to Their Premier Cards
The battle for the wallets of affluent consumers is reaching new heights. American Express has confirmed that major updates are coming to its Platinum cards later this year, just as JPMorgan Chase prepares to refresh its Sapphire Reserve card. Both issuers are rolling out new perks and experiences, but Amex stands out with its pledge to double down on what cardmembers love—while also introducing fresh, value-packed partnerships and benefits.
Cardholders can expect the new Amex Platinum to debut in the fall, with enhanced lounge access, expanded dining privileges, and exclusive event experiences. Amex’s Group President for U.S. Consumer Services, Howard Grosfield, has emphasized that the company is listening closely to its customers and will be investing heavily in both existing and new benefits. This approach is designed to attract not just the traditional luxury traveler but also a rapidly growing segment of Millennial and Gen Z consumers, who now make up a staggering 75% of new accounts for Amex’s premium cards.
What’s New with the Amex Platinum in 2025?
American Express is pulling out all the stops to make sure its Platinum card remains the gold standard for luxury credit cards. The upcoming refresh will introduce several headline features:
- Expanded Lounge Access: Amex is set to open three new Centurion Lounges in Newark, Salt Lake City, and Tokyo over the next year, bringing its global portfolio to 32 locations. Platinum cardholders will continue to enjoy access to over 1,400 airport lounges worldwide, a network that far surpasses competitors.
- Enhanced Dining Perks: Following its acquisition of the reservation platform Tock, Amex will add 7,000 new dining options to its already robust Resy platform. Cardholders will gain priority access to more tables at top restaurants and wineries, making it easier than ever to enjoy exclusive culinary experiences.
- Unique Event Experiences: Amex is leaning into its reputation for offering unforgettable moments, from VIP concert access to exclusive parties at major events like Coachella. These experiences are designed to resonate with younger, high-spending cardholders who value more than just travel perks.
Amex is also hinting at new statement credits and partnerships, though specific details are still under wraps. The company’s strategy is clear: make the Amex Platinum even more rewarding for its most loyal customers while appealing to a new generation of cardmembers.
Why the Amex Platinum Stands Out in a Crowded Market
Despite its $695 annual fee—higher than the Chase Sapphire Reserve’s $550—the Amex Platinum continues to attract a loyal following. The card’s current benefits already include best-in-class airport lounge access, elite hotel status, and generous statement credits that, when used wisely, can more than offset the annual cost. Amex’s decision to focus on Millennials and Gen Z is paying off: their spending surged by 40% in the last year, and their credit performance is better than the industry average.
Amex’s retention rate is an impressive 99%, a testament to the value cardholders find in the Platinum experience. The company is also working to make credits and benefits more flexible and easier to use, addressing feedback from cardholders who have sometimes found redemption terms cumbersome.
What This Means for Cardholders and the Credit Card Market
The Amex Platinum refresh is more than just a routine update—it’s a statement of intent. By doubling down on travel, dining, and event benefits, Amex is positioning itself as the ultimate lifestyle card for affluent consumers. The move also puts pressure on competitors like Chase and Capital One, both of which are responding with their own premium card updates.
For consumers, this means more choice, better perks, and a renewed focus on delivering value beyond just points and miles. The rivalry between Amex and JPMorgan is driving innovation across the industry, with both companies vying to offer the most compelling package of benefits and experiences.
Looking Ahead: What to Expect from the Amex Platinum
As the fall launch approaches, cardholders can look forward to a refreshed Amex Platinum that’s more rewarding, more flexible, and more attuned to the needs of today’s luxury consumer. Whether you’re a frequent traveler, a foodie, or someone who loves exclusive events, the new Platinum card promises to deliver.
With its expanded lounge network, enhanced dining options, and unique event experiences, the Amex Platinum is set to remain the card of choice for those who demand the best from their credit card. And with American Express hinting at even more surprises to come, now is the perfect time to consider whether the Platinum card belongs in your wallet.
Discover how the refreshed Amex Platinum can elevate your lifestyle—apply today and unlock a world of exclusive perks and experiences.