With revamped gold cards, bruised American Express returns focus to affluent

American Express is revamping its brand by offering new benefits to gold cardholders.

Beginning June 1, according to the New York Times, the credit card company will offer double points at restaurants, personalized travel services and a $100 annual credit for airline incidentals. Additionally, there will be no more foreign transaction fees.

The move is a play back to American Express’ original target: affluent consumers.

And it comes with a price: annual membership will rise $20 to $195 for premier rewards gold cardholders and $35 to $160 for regular gold cardholders.

A few recent setbacks are noteworthy amid the change: Amex lost an antitrust lawsuit in federal court and lucrative partnerships with Costco and JetBlue were not renewed, the Times reports. The company said in January it would reduce 6 percent of its workforce, or roughly 4,000 jobs.

Read more from the New York Times.