Amex, the battle for Chase credit card breaks goes beyond the airport

Airport lounge – without security check or boarding pass.

Credit card companies American Express again Chase they are increasingly conducting their wars of pleasure outside the airport. From an air-conditioned venue in the middle of the desert at Coachella to an athlete meet-and-greet at the Paris Olympics, these companies are investing heavily in the best hospitality spots to win over the card-carrying rich.

“It’s very expensive, but I think what’s happening is that issuers are finding that this is a premium differential,” said Donald Fandetti, managing director of consumer equity research at Wells Fargo. “It’s all about providing these services and experiences that make it convenient for the cardholder to pay those annual fees.”

American Express’ Platinum and Chase’s Sapphire Reserve cards — the top cards on the market — both increased their annual fees last year. The Amex Platinum now carries an annual fee of $895, while the Sapphire Reserve has a $795 fee.

The benefits associated with these cards, such as dining credits, hotel upgrades and digital partnerships, help offset the costs. It’s all an effort to catch and keep the big spenders. Amex and Chase raced for years to become the card of choice for the American elite.

More and more, access makes a difference.

“Credit cards [with] higher values, it will send a certain signal. But what we really need to make sure is that we understand the psychology of exclusivity,” said Dan Bennett, head of behavioral science at Ogilvy Consulting. “It’s easy to say, ‘I have a lot of resources.’ It’s hard to say, ‘I have enough public money to get into the gaps.’

Some of the events American Express Platinum cardholders have access to at the resort in 2025 include the US Open tennis tournament; Stagecoach Music Festival in California; and many Formula 1 races around the world.

During that time, Chase Sapphire Reserve customer lounges were present at the Chicago music festival Lollapalooza; Miami Art Week; Sundance Film Festival; and the PGA Tour.

While some lounges and product activations are open to all customers or all attendees, many of these spaces are reserved for prepaid cardholders only.

“We find this customer very engaged,” said Laura Picciano, general manager of Chase Sapphire. “Once you get their business, there’s a lot of loyalty there. So they’re an important part to keep growing.”

Although temporary credit card lounges appear at festivals and sporting events, they have become popular, permanent fixtures inside stadiums and arenas.

American Express has partnerships with more than 20 locations around the world. Eight of them currently have lounges, including the Hard Rock Stadium in Miami and the O2 arena in London, with a new venue set to open in New York City’s Barclays Center this year.

Bess Spaeth, senior vice president of global product management and experience at American Express, said factors such as footfall, the ability to serve food and beverage and visual capabilities are all considered in deciding which locations will get a lounge.

“It’s really a puzzle that we try to look at all the pieces and think about it holistically in terms of how we can best serve our members in those spaces,” Spaeth said.

Chase has created lounges at Madison Square Garden and the Chicago Theater that are open to all of its customers, although Madison Square Garden has dedicated space for Sapphire Reserve cardholders.

“Resorts are really interesting because economists would think those are very good,” said Chenzi Xu, an assistant professor of economics at the University of California, Berkeley. “These lounges are especially useful if you have a set of them that you can access in various places … not just at the airport maybe, but at some special event.”

Chase and American Express are targeting affluent customers who are not only willing to pay higher annual fees but also accumulate higher balances on their cards.

Those with a credit score of 720 or higher, which is required to get approved for a Sapphire Reserve or Platinum card, spend more than twice the average of those with scores between 660 and 719, according to data from the Federal Reserve Bank of Philadelphia.

American Express said earlier this year that it was shifting marketing dollars from no-fee cards to premium cards as it looks to attract wealthier cardholders.

American Express credit card fees are projected to reach $10 billion by 2025, up nearly 18% from 2024. Chase does not waive credit card fees.

“Chase is working hard to compete with him [American Express],” Xu said. “They’re just making the benefits of having these cards better and better for the consumer. That competition is good for the consumer, but it’s competition that only happens at the top, and ultimately you don’t see nearly as much penetration and you don’t see as much competition.”

That top tier is key for credit companies. Mastercard’s 2025 report found that affluent consumers, defined as households with an income of $200,000 or more and at least $250,000 in investable assets, spend 4.3 times the average population on discretionary purchases.

According to data from JD Power, cardholders with an annual fee of more than $500 spent an average of $3,200 per month from May 2025 to June 2026, up nearly 17% from the 12-month period.

Meanwhile, those with cards with balances of less than $500 spent an average of $1,144 per month, up nearly 6% from last year.

It’s yet another sign of what economists often call a “K-shaped economy” in which high-income earners move freely, while low-income consumers lag behind in other areas. And it places great importance on those who spend more money during times of economic uncertainty.

“What is attractive about the paying section of those who issue cards is that you spend a lot of money,” said Fandetti. “This business takes a large scale. So you have to have a very large revenue base to fund all these resorts and prizes and benefits.”

Resorts are one of the ways that credit card companies use financing through these locations.

Chase’s head of food and lifestyle, Paul Needham, said it offers things like gift bags, prime viewing spots, exclusive merchandise access and food proceeds from its partnership.

Chase and American Express often offer discounts or statement credits, too, for purchases at their respective sponsored locations and at certain events such as music festivals.

“I think if you take that broader picture of sports and entertainment venues, what we’re really trying to do is to both elevate these moments for our customers, but also reach our customers in places and situations where we know they have a lot of passion and they really enjoy being there,” Needham said.

Chase Sapphire Reserve cardholders get access to dinner events hosted at FIFA World Cup venues in New Jersey and California. Meanwhile, Marriott Bonvoy partnered with American Express in April to recreate the famous New York City restaurant Rao inside one of its hotels for a cardholder dinner event. Marriott has long partnered with American Express and Chase for its co-branded credit cards.

This category of cards, which includes co-branded offerings from Delta Air Lines again Hiltonwill account for nearly a quarter of American Express cardmember spending by 2025, according to an Amex report.

Bennett of Ogilvy Consulting said that one of the things that must be considered is that the credit card companies are in some of these visible areas to see if they can take a real part in the event in question. He said the American Express in Coachella is a good example, because it offers a place to cool off in the heat of the desert.

“You can’t set up these corporate fortresses the same way in each location. That’s not going to cut it. What’s going to cut it is really understanding the needs of the customer in each of these locations,” Bennett said.

Spaeth says parts of American Express’ strategy have been education-based, from collaborations with music artists like Harry Styles and Olivia Rodrigo to the NFL and Formula 1.

American Express’ partnership with Formula 1 began in 2023 and marked its first new sports sponsorship in more than a decade. A year later, it extended the deal again and began rolling out new fan amenities like trackside lounges.

“Our hope is that you engage with these moments, deepen the emotional connection you have with American Express and that elevates the American Express card even further in your wallet,” said Spaeth.