Marriott Signs New Long-Term Card Deals With Chase and American Express

Marriott has renewed its U.S. co-branded credit card partnerships with both JPMorgan Chase and American Express, executing new long-term agreements that replace a structure last negotiated in 2017. Deals of this kind typically run seven to ten years, so the renewal effectively sets the shape of the Bonvoy card ecosystem into the mid-2030s. Chief executive Anthony Capuano has said the company expects improved economics from the new terms, which in practice means a larger share of the interchange and annual fee revenue flowing back to the hotel group.

The unusual feature of Marriott’s arrangement is that it runs two issuers in parallel. Chase carries the Bonvoy Boundless and Bold products while American Express handles the Brilliant and Bevy, a split inherited from the Marriott–Starwood merger and one that most co-brand programs would have consolidated years ago. Keeping both issuers preserves competitive tension on acquisition offers, which is generally good for consumers, but it also produces the confusing cross-issuer eligibility rules that Bonvoy cardholders have long complained about.

Marriott has confirmed that refreshed products are coming from both issuers but has been deliberately vague about timing, cautioning that developing and launching new card lineups takes several quarters. That is a reasonable expectation-setting move: the recent pattern across premium travel cards has been higher annual fees paired with expanded credit-based benefits, and building those partnerships takes time. Cardholders hoping for an announcement in the next few weeks are likely to be disappointed.

The renewal lands at an awkward moment for the loyalty program itself, with Capuano also fielding questions about member frustration over Bonvoy’s award pricing and elite recognition. Co-brand revenue is one of the most profitable lines in a modern hotel company, which cuts both ways for members: it gives the program a strong incentive to keep cards attractive, and an equally strong incentive to manage point liability by letting redemption costs drift upward. Anyone holding a large Bonvoy balance should watch redemption rates as closely as card benefits.

Sources: Doctor of Credit, LoyaltyLobby