AMEX Platinum might raise annual fee & changes to Centurion lounge access

[TheFIGuy]

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@CBartowski wrote:

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@TheFIGuy wrote:

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@FieryDance wrote:

I swear I saw a topic a few weeks ago but couldn't find it.  Mods if you could be so kind to merge if deemed necessary. 

Well, I just read it on DOC here and it is technically still a rumor but I think it's quite likely.  

Starting Q3, 2021, the Amex Personal Platinum will have:

• $695 annual fee
• $300 equinox credit
• $240 entertainment credit, $20 monthly (magazine/news subscriptions, video streaming services and audio/music streaming services)
• $200 credit for prepaid hotel bookings
• Annual CLEAR membership will replace TSA Precheck, but Global Entry seems like it’ll stay
• $100 temp Resy credit

The rumor also says the existing cards renewal AF are grandfathered in until Jan, 2022.  The DoC thinks Amex may announce the change during Amex Membership Week from 6/14 to 6/18/2021.  We will see. 

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Yeah, I think membership week will be the announcement. AMEX has been quietly changing stuff and I believe you can only change so much before you gotta say something lol.

I'm waiting for the Charles Schwab website update with the redemption value. Then I see the $240 credit confirmation on Reddit today and I'm like ugh here it comes!

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@TheFIGuy  Whats the schwab update? Are you still referring to removal of the verbiage or have you had differences in redemption values? I just redeemed a bunch for 1.25 a few days ago. Hoping thats still the case! Thanks!

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No update I'm aware of yet. Sorry

[Andypanda]

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@TheFIGuy wrote:

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@CBartowski wrote:

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@TheFIGuy wrote:

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@FieryDance wrote:

I swear I saw a topic a few weeks ago but couldn't find it.  Mods if you could be so kind to merge if deemed necessary. 

Well, I just read it on DOC here and it is technically still a rumor but I think it's quite likely.  

Starting Q3, 2021, the Amex Personal Platinum will have:

• $695 annual fee
• $300 equinox credit
• $240 entertainment credit, $20 monthly (magazine/news subscriptions, video streaming services and audio/music streaming services)
• $200 credit for prepaid hotel bookings
• Annual CLEAR membership will replace TSA Precheck, but Global Entry seems like it’ll stay
• $100 temp Resy credit

The rumor also says the existing cards renewal AF are grandfathered in until Jan, 2022.  The DoC thinks Amex may announce the change during Amex Membership Week from 6/14 to 6/18/2021.  We will see. 

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Yeah, I think membership week will be the announcement. AMEX has been quietly changing stuff and I believe you can only change so much before you gotta say something lol.

I'm waiting for the Charles Schwab website update with the redemption value. Then I see the $240 credit confirmation on Reddit today and I'm like ugh here it comes!

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@TheFIGuy  Whats the schwab update? Are you still referring to removal of the verbiage or have you had differences in redemption values? I just redeemed a bunch for 1.25 a few days ago. Hoping thats still the case! Thanks!

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No update I'm aware of yet. Sorry

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It would be messed up if Amex raises the AF on the CS platinum card, and lowers the cash out rate.

[red259]

If this comes to pass I will have to crunch the numbers and see if this card is still worth it. It is not enough that I break even if it requires me to spend on stuff that I probably wouldn't waste money on anyway. This move may push me towards the CSR in a year. I need a travel card not a lifestyle card.

[Loquat]

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@red259 wrote:

If this comes to pass I will have to crunch the numbers and see if this card is still worth it. It is not enough that I break even if it requires me to spend on stuff that I probably wouldn't waste money on anyway. This move may push me towards the CSR in a year. I need a travel card not a lifestyle card.

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@red259 My thoughts exactly...and part of the reason I never jumped on the Platinum until they started dangling the 100k/10x offer in front of me.  I never really valued the Centurion Lounge...when I did venture into one I found the Delta lounges to be much better anyway.  I had no plans on keeping my Platinum card after the first year and this sort of change would be all the more reason why. 

[Anonymous]

it must be going to go up by the end of the end of the year because Amex has been targeting me hard for thisc card with in account offers, email offers and snail mail offers. Not to mention the usual "upgrade" offers from Gold.

[red259]

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@Anonymous wrote:

it must be going to go up by the end of the end of the year because Amex has been targeting me hard for thisc card with in account offers, email offers and snail mail offers. Not to mention the usual "upgrade" offers from Gold.

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I have the personal plat card but I am being hammered with offers for the biz plat. 150k points for 15k spend. I'll do 10k spend requirements, but 15k in three months is just pushing it too much for me.  

[blindambition]

I see that move backfiring in spectacular fashion, no matter how well they think they know their target.

Very few will get true value from the perks to offset AF.

[GrandBay]

@FieryDance  I like your goal! also w/it being membership week lets see which rumors pan out

[Loquat]

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@blindambition wrote:

I see that move backfiring in spectacular fashion, no matter how well they think they know their target.

Very few will get true value from the perks to offset AF.

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One would think but every time Amex made a move that I thought would deter folks it didn't.  Just my opinion but I think that while the card has benefits and features that lots of folks enjoy, I also think there is a perceived prestige associated with the card as well.  And normally I would say that aesthetics and cool factor has no value but clearly I'd be wrong as it relates to the Platinum card.  

Read enough travel blogs and you will read of how many people that get excited simply because of the weight of card.  I often tease that if Credit One would issue a card that weighs as much as the old Ritz card that some folks would happily pay an annual fee just to have it. 

[IgnatiusReilly]

This is, in my opinion, a great take.  If I traveled more I would absolutely get the card, but my CSR works for me, for now.  I do understand raising the fees to thin the herd but I think it eliminates the possiblity of an in-between card.  What would "Titanium" offer that so exceeded Platinum it would be worth the (pulls number out of thin air) $1,495 annual fee?  

I have kept downgraded my card a few times because of lack of use and affection (member since 1987) and now have the Green... and that is flipping $150 a year.