The Daily Vantage

American Express

is laser-focused on attracting the younger crowd, specifically

Millennials

and

Generation Z

. These groups are not just tech-savvy; they are a lucrative market. By 2024, they accounted for 75% of new accounts in

Amex’s premium cards,

a jump from 60% in 2019. Gen Z alone saw a 40% growth in the first quarter of 2025 compared to the same period in 2024. These digital natives prefer cashless transactions and are racking up more reward points than any other generation.

Amex’s strategy

to woo the younger generation dates back to 2021. The company is making its largest-ever investment in its card program to revamp the

Platinum card

. Expect major changes by late summer or early fall 2025. The goal? To double current benefits and introduce exciting new brands. While these perks appeal to all ages, they are especially enticing for

Millennials and Gen Z

, who value modern, digital-friendly benefits.

Amex

has expanded its offerings beyond traditional travel perks to cater to the athletic and experience-seeking lifestyles of Millennials and Gen Z. New benefits include a $240 annual digital entertainment credit for subscriptions like The

Wall Street Journal, Disney+, and Hulu.

There’s also $200 annually for Uber rides, $300 each for Equinox and SoulCycle memberships, and shopping credits like $100 at Saks Fifth Avenue. These perks align perfectly with the digital generation’s lifestyle.

Focus on Digital Dining Experiences

Amex has made significant strides in the dining sector by acquiring

Resy in 2018 and Tock last year

. This ensures Platinum cardholders can snag reservations at popular restaurants that are usually hard to book. Resy collaborates with

20,000

restaurants in thirty countries, while

Tock added 7,000 culinary partners

, including wineries. Amex stands out as the only credit card operator with its own restaurant reservation platform, making dining experiences seamless for its users.

Amex offers personalized services with a team of

7,000 travel consultants

ready to plan itineraries or book concert tickets. The Platinum card also provides access to over

1,550 lounges in more than 500 airports

worldwide, with three new Centurion Lounges opening soon. These services enhance the travel experience, making it more comfortable and exclusive for cardholders, aligning with the digital generation’s preference for personalized and premium experiences.

Perceived value and loyalty

Despite being the priciest in its class at

$695

annually, the Platinum card is seen as offering value that far exceeds its cost. Millennials and Gen Z are particularly loyal, with Amex reporting a 98% global retention rate. The influx of new subscribers at

$695

contributed to an 18% increase in net card fee revenues last year. This loyalty underscores the card’s appeal to a generation that values a wide range of benefits beyond traditional travel perks.