The author keeps both the American Express Platinum and Capital One Venture X cards for their complementary benefits, including valuable rewards, extensive lounge access, and maximizing statement credits, which together enhance their travel experience and financial flexibility.
Despite recent legal and market changes, premium credit cards are expected to remain popular in 2026 due to high consumer satisfaction, continued demand for luxury perks, and the ongoing growth of high-end offerings, even with rising fees and potential regulatory adjustments.
Premium credit cards are becoming more expensive with higher annual fees and more complex benefits, making it harder for consumers to maximize value. Banks and airlines are targeting high-spenders with exclusive perks, but recent changes may reduce accessibility and benefits for average users, while still maintaining strong demand among affluent travelers.
Citi has launched the Strata Elite, a premium credit card with a $595 annual fee, offering extensive travel and lifestyle rewards comparable to high-end competitors like Amex Platinum and Chase Sapphire Reserve, amidst ongoing consumer demand for luxury benefits despite rising fees.
American Express exceeded expectations in Q2 with $416.3 billion in billed business driven by strong spending from affluent customers, and reported a 9.3% increase in revenue to $17.9 billion. The company remains optimistic about full-year growth despite increased expenses and competitive pressures in the premium card space, and continues to invest in attracting younger customers.
American Express announced major updates to its Platinum cards later this year, aiming to enhance travel, dining, and lifestyle benefits, as well as card design, in response to competitive moves from JPMorgan Chase and changing consumer preferences for rewards points over cash back among premium cardholders.