American Express and Chase are taking their lounge battle beyond airports, adding premium cardholder spaces at festivals, sports events and arenas to attract and keep affluent customers.
Those perks help justify rising annual fees — $895 for AmEx Platinum and $795 for Sapphire Reserve — as issuers compete on exclusivity and access rather than rewards alone.
The strategy targets heavy spenders: J.D. Power says cardholders paying more than $500 a year spent about $3,200 a month in May 2025-June 2026, versus $1,144 for lower-fee cards.
AmEx said earlier this year it shifted marketing toward premium cards, and its card fees reached nearly $10 billion in 2025, up about 18% from 2024.
The expansion also reflects a K-shaped consumer economy, with issuers pouring investment into wealthy households that keep spending even as lower-income consumers pull back.