Gen Z accounts for 75% of new American Express Platinum and Gold cardholders in 2023.

Gen Z is embracing American Express as their preferred "lifestyle" card, accounting for 75% of new consumer platinum and gold accounts in 2023. Amex's premium products and membership model appeal to high-credit quality, high-spending younger customers, according to Howard Grosfield, president of U.S. consumer services at American Express. This shift in consumer preference is moving Amex beyond its traditional baby boomer and older generation base.