In 2013, American Express (AXP) had a problem. The country’s largest creditor was losing one of the biggest draws for its $450-a-year Platinum card: lounge access. Particularly, access into airport lounges operated by the recently-merged American Airlines (AAL) and US Airways.
Cardholders were furious. AmEx glossed over the problem by offering credits to disgruntled cardholders. Of course, the end of AmEx’s bidding with the other American led to the expansion of its new Centurion Lounge collection, which had only spun up in the months before the end of the AmEx-AA relationship. At Las Vegas’ McCarran Airport, AmEx planted the foundations for its future—not just for itself, but the broader credit industry.
