American Express said it would expand its lounge network by opening new Centurion Lounges in Newark, Tokyo and Salt Lake City.

American Express (NYSE:AXP) on Monday said that major updates for its U.S. Consumer and Business Platinum Cards later this year will be its largest-ever investment in a card refresh, more than 40 years after it introduced the 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. Chase and Capital One are also updating their premium cards, so the competitive landscape may shift quickly.