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

K-in-Boston
Moderator

Re: AMEX Platinum might raise annual fee

I'm fine with increases as long as the card is still worth the fee.  The rumored $240 entertainment credit and free Clear membership (I pay $109 a year as a Delta PM, but that would be a $179 value) alone would more than offset the increase for me.  Paying $145 more a year ($870 instead of $725 with AU cards) to get a guaranteed $349 back toward purchases I would have made anyway makes perfect sense.  Add in the rumored $100 Resy credit and the value's even better!  If they end up throwing in the Equinox credits too, that might even be a boost to my physical health not just my financial health.

Message 11 of 112
Andypanda
Established Contributor

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...


You can alwayse app for the everyday day card which has no af, and just close the platinum.

 

 

Wonder what will happen woth all the Karens that have the card.

Message 12 of 112
kdm31091
Super Contributor

Re: AMEX Platinum might raise annual fee


@ImTheDevil wrote:

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.


The Platinum card has never been great for points earning and I don't think that will change. It was always a benefit card first and I think that will remain true with the higher fee. I think we can expect more credits and the like, but I'd be surprised if the earn rate changes.

Message 13 of 112
ImTheDevil
Community Leader
Super Contributor

Re: AMEX Platinum might raise annual fee

I understand and agree, but I'm OK with the earn rate plus the benefits at the current AF. Increase it $150-200 without some offset though and it's a tougher sell for me - I don't travel enough for just the modest MR earning and the existing lounge/travel benefits to be worth it.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy cashRewards | Navy Platinum | Apple | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





Message 14 of 112
wasCB14
Super Contributor

Re: AMEX Platinum might raise annual fee

The current structure of merchant-specific credits works reasonably well for me even with minimal travel (which will increase when I can eventually get a vaccine). Add the Schwab annual credit and $795 isn't out of the question if we get some sort of entertainment credit.

 

I still plan to downgrade Platinum number 2 to a Gold once the first year is up.

 

I once lost a lot of money on an investment managed by the owner of Equinox. For that reason (and others I can't discuss here) I would have very little interest in Equinox credits. And just for convenience, I'm quite happy with my Peloton and free weights.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 15 of 112
donalddickerson2005
Regular Contributor

Re: AMEX Platinum might raise annual fee

I'd consider this only if it came with top status at ALL major hotels and upgraded rooms/suites.

Message 16 of 112
K-in-Boston
Moderator

Re: AMEX Platinum might raise annual fee


@donalddickerson2005 wrote:

I'd consider this only if it came with top status at ALL major hotels and upgraded rooms/suites.


You can always grab a Hilton card from Amex, since Hilton seems to value their top Diamond status very cheaply.  Even with its $10,000 initiation fee and $5000 annual fee, the Centurion Card thankfully only gives Marriott Gold status, so I am sure you can cross Marriott Ambassador (three levels higher) off your wish list.

Message 17 of 112
notmyrealname23
Established Contributor

Re: AMEX Platinum might raise annual fee


@K-in-Boston wrote:

I'm fine with increases as long as the card is still worth the fee.  The rumored $240 entertainment credit and free Clear membership (I pay $109 a year as a Delta PM, but that would be a $179 value) alone would more than offset the increase for me.  Paying $145 more a year ($870 instead of $725 with AU cards) to get a guaranteed $349 back toward purchases I would have made anyway makes perfect sense.  Add in the rumored $100 Resy credit and the value's even better!  If they end up throwing in the Equinox credits too, that might even be a boost to my physical health not just my financial health.


A free CLEAR membership with AMEX Platinum kind of overlaps with the Green's $100 credit off of a CLEAR purchase, no?

I'd be unhappy if they nerfed the Green's CLEAR credit (or if they nerfed the Green card), though if they turned Platinum into a lifestyle card and left Green as a travel card with current benefits (or figured out a good benefits/annual fee structure- the one they have isn't terrible for my needs) I'd be pretty happy.


All told I'm locked out from vanilla Platinum SUBs or upgrades for (checks calendar) the better part of a decade from now, so it's either MS/Schwab variant (math says as a keeper: meh) or just upgrade with no point love, so I'd have to see something very compelling to pay $700ish for it.

 

@kdm31091 wrote:

@ImTheDevil wrote:

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.


The Platinum card has never been great for points earning and I don't think that will change. It was always a benefit card first and I think that will remain true with the higher fee. I think we can expect more credits and the like, but I'd be surprised if the earn rate changes.


Yup yup. Platinum 5x flights/portal, 1x elsewhere gets a total beatdown on earning on my spend on a Green (3x all travel, 1x elsewhere). I did the math and unless I just really REALLY love Centurion lounges (and assign a high value to them) it's not worth it. The math says Gold/Green > Gold/Platinum on earning for me, by quite a bit.

I don't think anyone who DOES assign a lot of value to Centurion lounges, etc. on that card is wrong to do so, but that's just not me. The PP on my Aspire would work for me if I need a lounge in a pinch (and to be honest the 10 PP passes a year from a Surpass + $100 Loungebuddy credit would probably work for me, with some visits to spare).

First Tech FCU Choice Rewards World MC 35k
Fidelity VISA Signature 11.5k
Capital One Quicksilver 11k
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
PayPal Synchrony MC 6.4k
Citi AA Mileup 6.9k
Petal2 VISA 6k
AMEX Hilton Aspire 6.2k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
AMEX Marriott Bonvoy Brilliant 3.1k
Apple Card 3k
Cathay Pacific/Synchrony 2.5k
AMEX Delta Gold 2.2k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 18 of 112
K-in-Boston
Moderator

Re: AMEX Platinum might raise annual fee


@notmyrealname23 wrote:


A free CLEAR membership with AMEX Platinum kind of overlaps with the Green's $100 credit off of a CLEAR purchase, no?


Not necessarily.  Free would be a full $179 value for those not receiving a discounted membership such as Delta Silver/Gold/Platinum Medallions.  Also keep in mind that for much of Platinum's target audience, the Green Card doesn't make much sense.  Why have the Green card to earn 3x on airfare when you earn 5x on Platinum, for instance?  I personally can't justify the Green Card's $150 annual fee, and as evidenced by my signature I'm definitely willing to pay Amex annual fees when it makes sense.

Message 19 of 112
notmyrealname23
Established Contributor

Re: AMEX Platinum might raise annual fee


@K-in-Boston wrote:

@notmyrealname23 wrote:


A free CLEAR membership with AMEX Platinum kind of overlaps with the Green's $100 credit off of a CLEAR purchase, no?


Not necessarily.  Free would be a full $179 value for those not receiving a discounted membership such as Delta Silver/Gold/Platinum Medallions.  Also keep in mind that for much of Platinum's target audience, the Green Card doesn't make much sense.  Why have the Green card to earn 3x on airfare when you earn 5x on Platinum, for instance?  I personally can't justify the Green Card's $150 annual fee.


I get that the Green doesn't make much sense for a lot of Platinum carriers. I would say it overlaps with the CSP/CSR in terms of benefits/earning and is a perfectly solid midrange travel card. Midrange travel card + premium travel card... doesn't make much sense unless you spend a lot in Green categories that Platinum doesn't cover.

(Oh, and you get free AUs on a Green card. Very handy that, if you have a P2.)

I'm more thinking that someone who gets a Platinum card and uses CLEAR at any level (read: travels more than the average bear) has a very high chance of being a general member of SkyMiles or United MileagePlus (not even an elite- it literally costs you nothing to sign up for the program). That takes the cost of CLEAR to $119.

https://www.clearme.com/partner/united
https://www.clearme.com/partner/delta

So the incremental value of "free membership" (proposed Platinum benefit) over "$100 price break" (Green) is a whopping... $19. That's... a little weak in terms of value on top of what you get for Green in my view.

First Tech FCU Choice Rewards World MC 35k
Fidelity VISA Signature 11.5k
Capital One Quicksilver 11k
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
PayPal Synchrony MC 6.4k
Citi AA Mileup 6.9k
Petal2 VISA 6k
AMEX Hilton Aspire 6.2k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
AMEX Marriott Bonvoy Brilliant 3.1k
Apple Card 3k
Cathay Pacific/Synchrony 2.5k
AMEX Delta Gold 2.2k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 20 of 112
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