Member since 2021: How American Express became Gen Z's ultimate status symbol

American Express; Apple; Alyssa Powell/BI

American Express used to be your dad's card. OK, your rich dad's card. Or, fine, your rich friend's rich dad's card. But now, for a growing cohort of Gen Zers and millennials, it's their card, too. Amex has cracked the code with the youngs, and it's managed to do so without giving up its prestige image.