Wealthy millennial, Gen Z Platinum members drive American Express to record revenue: ‘very comfortable paying for its exceptional value’

Fortune•Friday, October 17, 2025 at 8:59:44 PM

American Express is experiencing record revenue growth, largely driven by its wealthy millennial and Gen Z Platinum members who appreciate the card's exceptional value. CEO Steve Squeri describes the Platinum card as evolving into 'the premium lifestyle card,' which has resonated well with consumers. This shift has positively impacted the company's stock, which surged over 7% as investors recognize the card's status symbol appeal. This trend highlights the changing landscape of consumer preferences and the importance of premium offerings in the financial sector.

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