Card issuers take premium lounges from airports to concerts and stadiums
American Express and Chase are using event lounges and perks to compete for affluent cardholders paying higher annual fees.
By Maya Lindqvist · Senior Technology Correspondent
4 min read
American Express and JPMorgan Chase are expanding their premium card lounge strategies beyond airports, adding hospitality spaces at music festivals, sporting events and entertainment venues. CNBC reported that the push is aimed at affluent customers who pay high annual fees and tend to put more spending on their cards.
The competition centers on products such as the American Express Platinum card and Chase Sapphire Reserve. CNBC reported that American Express raised the Platinum card’s annual fee to $895 last year, while Chase increased the Sapphire Reserve fee to $795.
Donald Fandetti, managing director of consumer finance equity research at Wells Fargo, told CNBC that the spaces are costly but help issuers set their premium cards apart. He said the companies are trying to give cardholders services and experiences that justify the fees.
Lounges move into events
CNBC reported that American Express Platinum cardholders had lounge access in 2025 at events including the U.S. Open, Stagecoach and several Formula 1 races. Chase Sapphire Reserve cardholders had lounge access tied to events such as Lollapalooza, Miami Art Week, the Sundance Film Festival and the PGA Tour.
Some card-related spaces are open more broadly, but CNBC reported that many lounges are limited to premium cardholders. Laura Picciano, general manager of Chase Sapphire, told CNBC that the customer group is engaged and tends to be loyal once Chase wins its business.
The strategy also includes permanent venues. American Express has partnerships with more than 20 venues worldwide, CNBC reported, with lounges at eight locations including Hard Rock Stadium in Miami and London’s O2 arena. A Barclays Center lounge in New York City is planned for this year.
Bess Spaeth, executive vice president of global brand management and experiences at American Express, told CNBC that the company weighs space, food and beverage options and views when deciding where to add lounges. Chase has lounges at Madison Square Garden and the Chicago Theatre that are open to Chase customers, with a separate Madison Square Garden area for Sapphire Reserve cardholders, according to CNBC.
High spenders drive the fight
The race reflects the value of wealthier cardholders. CNBC cited Federal Reserve Bank of Philadelphia data showing that consumers with credit scores of 720 or higher spend more than twice as much on cards as those with scores from 660 to 719.
American Express said earlier this year that it shifted marketing money away from no-fee cards toward premium products, CNBC reported. CNBC also reported that American Express generated nearly $10 billion in credit card fees in 2025, about 18% more than in 2024; Chase does not separately disclose credit card fee revenue.
Chenzi Xu, an assistant professor of economics at the University of California, Berkeley, told CNBC that Chase is working hard to compete with American Express and that consumers at the high end are seeing better benefits. Xu said the same level of competition is not visible at the lower end of the market.
CNBC cited a 2025 Mastercard report that defined affluent consumers as households with income of at least $200,000 and investable assets of at least $250,000. Mastercard found that this group spends 4.3 times as much as the general population on discretionary purchases.
J.D. Power data cited by CNBC showed that cardholders paying more than $500 in annual fees spent an average of $3,200 a month from May 2025 to June 2026, up about 17% from the prior 12 months. Cardholders paying less than $500 in annual fees spent an average of $1,144 a month, up about 6%.
Perks beyond the lounge
CNBC reported that lounges are part of broader sponsorship packages that may include gift bags, preferred viewing areas, merchandise access, food discounts, statement credits and event-specific promotions. Paul Needham, Chase’s head of dining and lifestyle, told CNBC that the company wants to reach customers at sports and entertainment events where they are already invested.
Chase Sapphire Reserve cardholders get access to dinners held on FIFA World Cup pitches in New Jersey and California, according to CNBC. Marriott Bonvoy and American Express also staged a cardholder dinner by recreating Rao’s restaurant inside a hotel in April, CNBC reported.
Dan Bennett, head of behavioral science at Ogilvy Consulting, told CNBC that card companies need a credible reason to appear in physical event spaces. He cited American Express at Coachella as an example because it offered a place to cool off in desert heat.
This story draws on original reporting from CNBC.