And he’s starting to give hints of just how exactly he plans to lure more of them to the fold, announcing on June 16 that the company will implement a big upgrade late this summer or in the early fall to its Platinum card.

American Express on Monday announced "major updates" are coming "later this year" to the U.S. Consumer and Business versions of its popular Platinum cards, which have annual fees of $695.

On Monday, American Express announced that it will be making "major updates" to some of its most beloved and rewarding cards. The issuer said that The Platinum Card® from American Express and The Business Platinum Card® from American Express will be receiving a full revamp later this year.