American Express has announced its intention to make its Platinum and Business Platinum credit cards more appealing to Gen Z, according to a Yahoo Finance report.
The cohort of customers is a quickly growing one, according to the report. And Group President Howard Grosfield at American Express’s U.S. Consumer Services division says the company is working to make these cards appealing by providing additional benefits.
What kind of benefits are coming for American Express Platinum cards?
The executive told Yahoo Finance that new lounges and expanded dining benefits are the primary means by which the credit card company hopes to court more Gen Z customers.
“You’re going to see us double down on all the wonderful benefits that our card members love on travel, business, and dining,” Grosfield said in the report.
The new lounges will be located in Newark, Salt Lake City, and Tokyo airports. The three new Centurion Lounges opening in the next year. It bring the total number of lounges operated by the company to 32 across the globe.
Amex also acquired reservation platform Tock in 2024. That added 7,000 new dining options to its more than 20,000 existing offerings on Resy. Cardholders will receive priority access to reservations for tables in a growing number of restaurants, wineries, and other establishments.
How much does an Amex Platinum card cost?
The annual fee for that heavy metal card is $695. But, according to Yahoo Finance, this price tag isn’t enough to keep Gen Z away.
Described as a “subscription mindset,” the report highlights that the younger crowd has already been primed by subscriptions to video, gaming, and music streaming services.
Another Amex executive suggested that younger people might find the card fee to be worth what they receive in exchange as far as member benefits and exclusivity.
Why is American Express interested in Generation Z?
The report also paints a lifelong view of the credit card company regarding its courtship of Gen Z, whose members range in age from 13 to 28 years old in 2025. “We acquire them once, and we get 20 more years of lifetime to deal with them,” Grosfield told Yahoo Finance.
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