American Express is launching a new era of premium credit card experiences with its largest investment to date — a complete overhaul of its U.S. Consumer and Business Platinum Cards®. The American Express Platinum Updates will become available later this year, with more travel, dining, and business rewards to meet cardmembers' evolving needs, especially Millennials and Gen Z.

"We introduced the Platinum Card more than 40 years ago, and we're introducing it to a whole new generation today," said Howard Grosfield, Group President, U.S. Consumer Services.

Above all, younger cardmembers are driving usage trends: Gen Z and Millennials made up 35% of total U.S. consumer spend in the fourth quarter. This launch is intended to reward their loyalty and attract the next generation of high-spending, experience-hungry consumers.

Lounge Network Grows to New International Hubs

Among the most exciting American Express Platinum Updates is the expansion of the company's airport lounge network — now the largest among credit card issuers. Card members can now visit over 1,550 lounges at over 500 airports around the world, including the much-coveted Centurion Lounges.

Three new Centurion Lounges are set to open in Newark (NJ), Salt Lake City (UT), and Tokyo (Japan) within the next year. This will bring the total number of Centurion Lounges to 32, further cementing American Express's dominance in travel luxury.

Dining & Hotel Programs Get a Power Boost

The upgrade also takes advantage of American Express's deep food and hospitality expertise. On its platform, Resy, Platinum Card Members can reserve a table at over 20,000 restaurants in 30+ countries. The company's acquisition of Tock brings an additional 7,000 restaurants, wineries, and venues, continuing to broaden access to one-of-a-kind dining experiences.

With hotels, American Express's Fine Hotels + Resorts® and The Hotel Collection now consist of 2,600 individually chosen hotels, a number of which are in ideal locations. Benefits of complimentary daily breakfast, experience credits, room upgrades, and assured 4:00 p.m. late check-out at more than 1,600 hotels make this perhaps the most enticing luxury travel program offered by any credit card company.

Business Platinum Benefits for Propelling Growth

The Business Platinum Card is also among the extensive American Express Platinum Updates. The new business card is crafted for today's business owners and will deliver:

·         Flexible spending limits

·         Virtual card advantages

·         Reward schemes for corporate spending

·         Cash flow management software

·         Access to the same travel, lounge, and dining benefits as on the consumer Platinum Card

This makes it a worthwhile resource for business owners who want to streamline operations without sacrificing top-level benefits.

Brand Collaborations and Limited-Time Offerings in the Works

With travel and business amenities on the increase, American Express is offering special experiences as well. In addition to VIP motorsports and tennis experiences, Platinum Card Members will also have access to the best music festivals and cultural experiences.

Further brand partnerships will be unveiled as part of the Platinum re-launch, with even more lifestyle benefits.

More to Come This Fall

While American Express has outlined broad strokes of the renovations, additional details will be forthcoming this fall — suggesting that the dramatic redesign is more than appears on the surface.

Final Thoughts

The American Express Platinum renewals are a bold step to take premium card products to the next level for the modern, experience-based consumer worldwide. From first-class lounge privileges to off-the-menu dining reservations, to intelligent business solutions, American Express is unambiguously repositioning its Platinum Card as the gold standard in luxury lifestyle and business credit cards.