cancel
Showing results for 
Search instead for 
Did you mean: 

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

NRB525
Super Contributor

Re: AMEX Platinum might raise annual fee


@notmyrealname23 wrote:

@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.


While the categories for CSR / CSP are similar to Green, the CSR is moving to a mandatory ( non avoidable ) $250 AF. The Green at least earns in the same MR family. Which is why even though I like my CSR a lot right now, when that AF comes up, I have to look closely at whether Hyatt stands alone and the UR points earning kind of comes to a close for me. Platinum adding a Clear membership makes the Green less attractive, that part is clear. What I'm suggesting is that Green complements the earning of the Platinum / Gold better than CSR, except for the common airlines you could transfer UR and MR to.

 

There are no easy choices in the travel card space these days, it is very competitive. 

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
Message 21 of 136
4sallypat
Frequent Contributor

Re: AMEX Platinum might raise annual fee

I watched a video from last year about this rumor:

https://www.youtube.com/watch?v=_eZhAC5Tpzk 

I'd rather have AX leave the Plat alone.

 

Now I am hearing that the increased AF Plat Amex is going to offer an Equinox membership (health / fitness gym).

 

NOT impressed nor interested at the Equinox membership.

 

If they increase the Plat AF, I decided to downgrade..

 

Screen Shot 2021-03-20 at 7.44.54 AM.png

 

 

Message 22 of 136
adelphi_sky
Frequent Contributor

Re: AMEX Platinum might raise annual fee

Depending on if the new benefits are worth it, I would probably get rid of my Hilton Aspire. The AFs combined are $1000. But if the new benefit is just a gym membership, I'll pass. But if they offered Diamond membership at Hiltons instead of Gold and $300 airline credit, that's a no brainer. I'd pay a $750af if I can git rid of a $450af card. 

Message 23 of 136
adelphi_sky
Frequent Contributor

Re: AMEX Platinum might raise annual fee

 


@K-in-Boston wrote:

@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.


What is the initiation fee for? 

Message 24 of 136
ImTheDevil
Community Leader
Super Contributor

Re: AMEX Platinum might raise annual fee

It's because they can get away with it.



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | 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 25 of 136
coldfusion
Community Leader
Super Contributor

Re: AMEX Platinum might raise annual fee


@adelphi_sky wrote:

 


@K-in-Boston wrote:

@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.


What is the initiation fee for? 


Probably because they can get it.      Invitations to get the card are in part based upon an established pattern of sustained high spend and the type of clientele they want as cardholders would consider $10K as a relative drop in the bucket, way less than average weekly spend.

 



(4/2021)
FICO 8 (EX) 815 (TU) 822 (EQ) 808
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 26 of 136
NRB525
Super Contributor

Re: AMEX Platinum might raise annual fee


@adelphi_sky wrote:

 


@K-in-Boston wrote:

@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.


What is the initiation fee for? 


Good question. Possible reasons:

Because AMEX can charge that fee. 
To keep the rif-raf from paying only $5,000 ( old initiation fee )

To cover the card creation costs. 
To help with the Centurion Concierge overhead.

To increase the cardholder buy-in and commitment to the Centurion Card. 

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
Message 27 of 136
notmyrealname23
Established Contributor

Re: AMEX Platinum might raise annual fee


@NRB525 wrote:
Platinum adding a Clear membership makes the Green less attractive, that part is clear. What I'm suggesting is that Green complements the earning of the Platinum / Gold better than CSR, except for the common airlines you could transfer UR and MR to.

An incremental $19 saved (at most, it's only $9 if you have United/Delta status instead of just general membership) if I pay hundreds in additional in annual fees doesn't make an enchanced Platinum card very attractive to me.

I don't need to be sold on Green complementing AMEX earning; I carry it with a Gold. I am referring to myself when I say "unless you spend a lot in Green categories that Platinum doesn't cover". The comparison with CSR/CSP is that like those cards, Green has a very broad "travel and dining" earning category instead of Platinum's more narrow earning focus and laundry list of stuff you get (Saks, Uber credit, hotel status, FHR, whatever).

Basically the Green is a CSP/CSR tweener as a travel card: doesn't come with a lot of stuff, similar to the CSP, but comes with SOME stuff (Loungebuddy credit, CLEAR credit), costs a little more, but earns like a CSR (but without PP, hotel status, $300 travel credit, etc, and without that AF). 

First Tech FCU Choice Rewards World MC 35k
AMEX Hilton Aspire 14.2k
Fidelity VISA Signature 11.5k
Capital One Quicksilver 11k
Charles Schwab AMEX Platinum NPSL
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
PayPal Synchrony MC 6.4k
Citi AA Mileup 6.9k
Petal2 VISA 6k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
AMEX Marriott Bonvoy Brilliant 3.1k
Apple Card 3k
AMEX Delta Gold 3k
Cathay Pacific/Synchrony 2.5k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 28 of 136
tacpoly
Established Contributor

Re: AMEX Platinum might raise annual fee

If Amex Plat is increasing fees again, they need to make the (non-COVID era) travel credit easier to get, like CSR or Prestige. Limiting credit to a specific airline's fees is a joke -- you only pay the fees if you fly economy and have no frequent flyer status, which doesn't seem to be Plat's target demographic. 

Message 29 of 136
notmyrealname23
Established Contributor

Re: AMEX Platinum might raise annual fee


@tacpoly wrote:

If Amex Plat is increasing fees again, they need to make the (non-COVID era) travel credit easier to get, like CSR or Prestige. Limiting credit to a specific airline's fees is a joke -- you only pay the fees if you fly economy and have no frequent flyer status, which doesn't seem to be Plat's target demographic. 


That or you know how to use the incidental fee:

- small (under $100) add/collects in conjunction with a Delta gift card (IOW you can use it with a ticket)

- small ticket charges (under $100) for Alaska or Southwest

- lounge admissions for Delta, American, United or Alaska's lounges

I used $350 in AMEX incidental fee reimbursements last year to pay for plane tickets (was even able to use pandemic one time only conversions to airline miles/points Smiley Very Happy), and I'm using more this year (plus I think I'll end up in a Delta lounge or two at some point). ¯\_(ツ)_/¯

I agree that it's not straightforward like Chase/Citi/US Bank and if AMEX did a "here's a $250 travel credit that just works, oh, and by the way,  we're jacking the annual fee to $795, and here's a free CLEAR card"... that could be compelling.

I also think that Gold makes more sense as the "lifestyle" card (bonuses on dining, groceries, they're ditching the $100 airline credit for the Uber Eats credit, won't shock me if they did something like dump the 3x on flights and maybe do 3x stuff like streaming and gas stations) as opposed to Platinum, where the big benefits have ALWAYS been "here's these travel things we shovel at you, like hotel status, FHR and lounges".

First Tech FCU Choice Rewards World MC 35k
AMEX Hilton Aspire 14.2k
Fidelity VISA Signature 11.5k
Capital One Quicksilver 11k
Charles Schwab AMEX Platinum NPSL
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
PayPal Synchrony MC 6.4k
Citi AA Mileup 6.9k
Petal2 VISA 6k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
AMEX Marriott Bonvoy Brilliant 3.1k
Apple Card 3k
AMEX Delta Gold 3k
Cathay Pacific/Synchrony 2.5k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 30 of 136
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.