American Express (AXP) traded higher Monday, gaining about 3% to roughly $323, as markets digested fresh travel-benefit changes for premium cardholders. The updates include additional airfare-related perks while also confirming that American Express Platinum cardholders will lose Lufthansa lounge access effective October 1, 2026, a change that reshapes the value mix of premium travel benefits.

Premium-card economics depend on keeping high-spending customers engaged, and travel benefits are a key lever. Investors often treat perk adjustments as signals about how American Express is managing partner costs, customer acquisition/retention, and the competitiveness of its high-fee products—particularly as card issuers refine rewards and benefits to defend margins.

The rally also builds on a recent rebound in AXP shares and comes as investors position ahead of the company’s next quarterly earnings update later in April. With the stock up more than 3% on the day and trading near $323, attention is likely to shift quickly to management commentary on spending trends, delinquency/credit normalization, and the pace of premium-card growth.