Are Delta & Amex Considering a New, More Expensive Credit Card?

We’re in the thick of a premium travel card arms race. Both American Express and Chase have recently announced upcoming refreshes to their flagship cards – or, in Amex’s case, more of an announcement that there will be an announcement. But just when it seemed the battle couldn’t get any hotter, it looks like a new challenger may be entering the ring.

Earlier this week, an anonymous Redditor claimed that Delta and American Express are working on a new ultra-premium credit card – one that would slot in above the Delta Skymiles reserve.

Skeptical? Fair. But this particular Redditor has a track record: They were the first to leak Delta's unpopular Medallion changes back in 2023.

Further, back in November, we floated this very possibility after Delta’s annual investor day. At the time, Delta President Glen Hauenstein hinted at something new, asking aloud: “Is there a new, better card out there? We’ll put our thinking caps on. Never stay satisfied.”

Where there’s smoke, there’s fire – and in this case, the heat level is rising.

At $650 per year (see rates & fees), the Delta Reserve already costs a small fortune, but is there really a market for a more expensive card?

It's no secret that Delta prides itself on being a “premium” airline, and most would agree that the Delta Reserve is already a “premium” credit card. But as crazy as it sounds, there probably is a customer segment willing to pay an even higher annual fee in exchange for better perks and benefits.

With new Delta Sky Club® limits in effect for high-end *amex platinum* and the SkyMiles Reserve cardholders, bringing back unlimited lounge access with a new, more premium credit card would make a lot of sense. For Delta diehards, paying $1,000 or even $1,200 per year for a co-branded credit card with perks above and beyond what's offered on the Reserve might be a no-brainer.

If other recent Amex card refreshes – including the revamped suite of Delta cards – are any indication of what to expect, a new higher end Delta card would likely lean heavy on hard-to-use statement credits from Amex partners and other third parties. The Reserve Card already comes with monthly rideshare and Resy credits – plus, an annual Delta Stays credit. A new, more expensive, Delta card would likely follow a similar format.

To be perfectly clear, we don't know for sure if a new card is in the works. Developing something like this often takes years. But you can bet that if Delta's president was willing to muse about it publicly, the discussion would be a lot more robust behind closed doors. This latest update makes it look like we could find out sooner rather than later. 

With Amex already announcing refreshes coming to the Amex Platinum and *biz platinum* later this fall, you'd have to think a new Delta card would have to wait until the end of the year or even early next year, at the soonest. And while an annual fee of $1,000 (or more) on a new Delta card isn't inconceivable, that would likely push the fees on Amex's flagship Platinum cards even higher. 

In another telling sign from last year's investor day presentation, Delta made a point to highlight millennial and Gen Z customers as a key demographic. These generations have more wealth than prior generations at the same age and they aren't afraid to spend it on a more premium product … and that includes credit cards.

This is very similar to what we've been hearing from American Express during its recent quarterly earnings calls – not surprising given the close-knit relationship between the airline and bank. Just how close are the two? Consider this: Delta is expected to make more than $7 billion this year from its relationship with Amex. That's nearly double the amount generated just five years ago – and the airline isn't stopping there, with a long-term goal of growing that figure to $10 billion in the years to come. 

Given that ambitious revenue target, it would make total sense for Amex and Delta to go after the millennial wallets with a new, more premium credit card offering. 

Only time will tell what, if anything, comes of this, but it certainly appears that a more expensive co-branded Delta card is in the works.