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Amex, Challenged by Chase, Is Losing the Snob War

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Re: Amex, Challenged by Chase, Is Losing the Snob War

Great story link. Says lots about the future!
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Re: Amex, Challenged by Chase, Is Losing the Snob War

I know! 

 

I know there is quite a bit of talk on the forums about AmEx and how they are trying to keep up with premium perks. I like some of the new stuff coming out of the pipeline of benefits for AmEx Plat holders. If they were a little more flexible with their reimbursements and maybe awarded more points for, say, dining, I'd make use of the card way more than I do now (essentially for plane fare, occasional AmEx deals, or whereever it's accepted internationally). Also, not sure that it was in their best interest to increase the AF by $100 either. 

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Re: Amex, Challenged by Chase, Is Losing the Snob War

Interesting article.  My guess is that Amex will "catch up" to the younger generation, in time. 

 

Its necessary for Amex to cater to the younger generation without alienating the older, "well-to do" generation.  

 

This is classic American Icon growing pains.  For example, Cadillac went through similar growing pains. They had to figure out a way to cater to the younger generations, without alienating the former generations that put them where they are.

 

I have no doubt that Amex, like Cadillac will figure out how to do this, and once again become the " Standard of the World."


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Re: Amex, Challenged by Chase, Is Losing the Snob War

Good article, I read it in my news feed this morning. I've never been a fan of Amex, too long a story to explain why - I'll just say: "Don't leave home without it, but be prepared to expain yourself when we demand it".

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Re: Amex, Challenged by Chase, Is Losing the Snob War

Counld not happen to a better company (target) IMO .... I'm obvously NOT an AmEx fan. 

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Re: Amex, Challenged by Chase, Is Losing the Snob War

Cool read thanks for the post. Agreed, they will catch up eventually. They have been trying already. Didnt they try that Zync card like 6 years ago. Wonder what they will do next.

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Re: Amex, Challenged by Chase, Is Losing the Snob War

[ Edited ]

svergie90 wrote:

Cool read thanks for the post. Agreed, they will catch up eventually. They have been trying already. Didnt they try that Zync card like 6 years ago. Wonder what they will do next.


Not really in my estimation, that was a foray trying to attract younger and less affluent individuals, and was an everyday spender which the majority of Amex products were not at that time; CSR isn't that at all as it strikes straight at the heart of the traditional (read as: historical) Amex base, but the CSR is recognized even as far away as Singapore as being the new hotness... interestingly enough Amex has good acceptance here too so it's not a matter of not knowing about other options.

 

Amex is going to be facing an uphill battle at this point, CSR is basically the ultimate international travel card as near as I can tell after some experience with it in various Asia markets at least: wide acceptance, excellent perks, and rewards on virtually everything one pays for with a credit card.

 

"That's the best card now isn't it?" I was asked, to which I replied, "It is for me."  

 

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Amex (you're rich) Chase/Citi (you're interesting)

Did anyoe read the article in the NYT about what status and cards mean to Millenials? Basically a synopsis: Millenials don't like to flaunt their affluency (if they have it) and look at Amex card holders as middle age, older, your grandfathers credit card, and if you use a Chase or Citi Premium Card like Ink or Sapphire you're more interesting, and there is nothing wrong with making good money as long as you do so in an understated way?

When I worked in Vegas at some high end resorts, when someone presented their Titanium Black Card to me,  on the maybe 4 times it happened, in 6 years, regardless who it was, it impressed me. But, I'm not 30 something or a millenial. What do you think?

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Re: Amex (you're rich) Chase/Citi (you're interesting)

[ Edited ]

I read a similar article that stated milenials value experiences over status which is why the CSR was in part such a big hit with them because they could Use the points for experiences. The Amex Platinum provides perks and status which as you say is something older and thus more affluent people value. Is this bible, no. It is something I've noticed as a barely millennial though.



Capital One: $200 CL, Amex BCP: $6K CL, Amex Platinum: No limit, CSR: $23K CL, Citi Costco: $8K CL, Lowes: $12K CL, USAA Preferred Cash Rewards: $10K CL, USAA Cashback Rewards Plus: $15K CL, USAA Limitless: $12.5K CL, BOFA Spirit: $17K CL

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