Amex and Chase extend premium lounge contest to events and arenas

American Express and Chase are expanding premium cardholder lounges from airports into festivals, sports venues and cultural events as they compete for affluent customers who pay annual fees as high as $895. The strategy ties hospitality perks to cards whose users spend more, creating another lever for issuers seeking fee income and card volume.

American Express’ Platinum card carries an annual fee of $895, while Chase’s Sapphire Reserve costs $795 a year after both products raised fees last year. Issuers pair those charges with benefits such as dining credits, hotel upgrades, digital partnerships and access to physical spaces at sponsored events.

Donald Fandetti, managing director of consumer finance equity research at Wells Fargo, told CNBC that lounges are costly but have become a way for card companies to distinguish premium products. He said issuers are trying to make the annual fees feel justified through services and experiences.

Premium access moves beyond terminals

American Express Platinum cardholders had lounge access in 2025 at events including the US Open tennis tournament, Stagecoach in California and multiple Formula 1 races, according to CNBC. Chase Sapphire Reserve customers had lounge access at Lollapalooza in Chicago, Miami Art Week, the Sundance Film Festival and PGA Tour events.

Some activations are available to wider groups of customers or event attendees, but many are reserved for premium cardholders. Laura Picciano, general manager of Chase Sapphire, told CNBC that these customers are highly engaged and tend to show loyalty once they choose a product.

The model is also becoming more permanent in stadiums and arenas. American Express has partnerships with more than 20 venues globally, eight of which currently include lounges, such as Hard Rock Stadium in Miami and the O2 arena in London. A new American Express lounge is scheduled to open at Barclays Center in New York this year, according to CNBC.

Bess Spaeth, executive vice president of global brand management and experiences at American Express, said the company weighs factors including available space, food and beverage options and viewing capabilities when deciding where to add lounges.

Chase has lounges at Madison Square Garden and the Chicago Theatre that are open to all Chase customers, while Madison Square Garden also has a dedicated area for Sapphire Reserve cardholders. Chenzi Xu, an assistant professor of economics at the University of California, Berkeley, told CNBC that lounges resemble a network good because their value rises when customers can use them in multiple locations.

High spenders drive the economics

The push is aimed at cardholders with stronger credit profiles and larger purchase volumes. Federal Reserve Bank of Philadelphia data cited by CNBC showed that consumers with credit scores of 720 or above, a level typically needed for approval for Platinum or Sapphire Reserve cards, spend more than twice as much as consumers with scores between 660 and 719.

American Express said earlier this year that it had shifted marketing spending away from no-fee cards and toward premium products. Its credit card fees reached nearly $10 billion in 2025, up about 18% from 2024, according to CNBC. Chase does not separately disclose credit card fee revenue.

A 2025 Mastercard report found that affluent consumers, defined as households with income of at least $200,000 and investable assets of at least $250,000, spend 4.3 times as much as the general population on discretionary purchases. J.D. Power data cited by CNBC showed that cardholders paying annual fees above $500 spent an average of $3,200 a month from May 2025 to June 2026, up about 17% from the prior 12-month period. Users of cards with fees below $500 spent $1,144 a month on average, up about 6%.

Lounges are one part of broader sponsorship packages. Paul Needham, Chase’s head of dining and lifestyle, said the bank also offers gift bags, premium viewing areas, merchandise access and food discounts through partnerships. Chase and American Express also use discounts and statement credits at sponsored venues and selected events.

American Express has used entertainment and sports partnerships including Formula 1, the NFL and collaborations with music artists. Its Formula 1 partnership began in 2023 and later expanded to include fan perks such as trackside lounges, according to CNBC.

This story draws on original reporting from CNBC.