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

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EvilR-T
Frequent Contributor

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

Message 1 of 136
135 REPLIES 135
cashorcharge
Community Leader
Senior Contributor

Re: AMEX Platinum might raise annual fee

I remember reading something early 2020 that AMEX had "mentioned briefly" during some Press Event or Quarterly Earnings Meeting that they were looking to introduce a new card that would slot ABOVE Platinum but still BELOW Centurion (Black) and this card would have a higher AF but also different benefits.  It was also stated that the card would be released last year but apparently COVID changed their course.

 

I am wondering if they are still contemplating that with this rumored change.  

 

Thanks for sharing....

Message 2 of 136
4sallypat
Valued Contributor

Re: AMEX Platinum might raise annual fee

@cashorcharge you are correct - there was a rumor on One Mile at a Time article about a new Amex card that fits between the Platinum and Centurion card:

https://onemileatatime.com/amex-new-ultra-premium-card-rumor/ 

 

Rumored to be: Amex Black or Amex Titanium 

 

I hope my personal Platinum does not have an AF increase - it's already pricey with an AU ($175) on top of the $550.....

Message 3 of 136
Anonymous
Not applicable

Re: AMEX Platinum might raise annual fee

I can swallow the $550 for the card but if it goes up like this, I can't see a way to justify it. It almost sounds like they're just moving Plat upmarket into the role they envisioned for the newly-announced card, with the AF increase and mention of it becoming less about travel and more about lifestyle. Barring a better MR earnings structure to reflect the higher cost to have it, I'll likely close mine at the one-year mark.

Message 4 of 136
4sallypat
Valued Contributor

Re: AMEX Platinum might raise annual fee

If the Plat goes up to $695, I was thinking of downgrading the card to the Gold where it's more affordable and I keep my MR points which I have farmed for many years...

Message 5 of 136
Stralem
Established Contributor

Re: AMEX Platinum might raise annual fee

Welp, as always, if the benefits are something that fit with my lifestyle, I'm not necessarily afraid of a fee increase.

 

But of course, this is going to require a serious re-evaluation of that if true.

I Have Way Too Many of These.

American Express - No CLI or Appreciation Gift in 7 Years

Citibank - Handing Out Credit Limits Like Candy

Chase - Surprisingly, Still Tolerating My Credit-Chasing Ways

Bank of America - My Newest Bae.

Everyone Else.
Message 6 of 136
sladesurfer
Regular Contributor

Re: AMEX Platinum might raise annual fee


@EvilR-T wrote:

https://www.doctorofcredit.com/rumor-american-express-to-increase-personal-platinum-annual-fee/


Good, I hope they increase it to $1000 to lessen the crowd in Centurion Lounges. When it was open, Theres never a day i go inside thats not crowded.

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Message 7 of 136
Anonymous
Not applicable

Re: AMEX Platinum might raise annual fee


@4sallypat wrote:

If the Plat goes up to $695, I was thinking of downgrading the card to the Gold where it's more affordable and I keep my MR points which I have farmed for many years...


Good to have that option. I have Gold already and don't really care about getting Green, as I can cover most of its benefits between my Gold and BCP cards. If they revise the earnings structure, mainly through MR multipliers on spending categories, that could be a different story, but at 1 MR per dollar outside the travel portal, this would likely end up being a lost tradeline in my case.

Message 8 of 136
FlaDude
Established Contributor

Re: AMEX Platinum might raise annual fee

The continual Amex AF increases brings to mind this scene from Animal House:

 

tys.png

Scores: March 21 FICO 8: EX 810, TU 808, EQ 813
AoOA: closed: 36 years, open: 25 years; AAoA: 11.8 years
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Freedom Unlimited, Chase Amazon, Chase CSP, Chase United Explorer, Citi AA Plat, Sync Lowes, Sync JC Penney - total CL 145k
Loans: Chase car loan (35k/6yrs 0.9%)
Message 9 of 136
NRB525
Super Contributor

Re: AMEX Platinum might raise annual fee


@EvilR-T wrote:

https://www.doctorofcredit.com/rumor-american-express-to-increase-personal-platinum-annual-fee/


Thanks for the link. 

 

I have been quite happy with the approach AMEX has taken on their cards in the last year. I will look forward to the newly identified benefits for the "Lifestyle" category. I expect the added benefits and credit opportunities will make up for the fee increase.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 10 of 136
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