cancel
Showing results for 
Search instead for 
Did you mean: 

Cards with top benefits for top tier customers.

Highlighted
Valued Contributor

Re: Cards with top benefits for top tier customers.


@netthier wrote:


I imagine this is because it's not their target market segment. Considering how competitive the premium card market is currently, I don't know if Discover would be able to keep up as effectively with the one-upmanship that larger banks / established players are able to do. Signs of strain can be seen even in Amex what with benefits always having some kind of a caveat or condition (staggered credits for dining/Uber/Saks and 'conditional' credits like airline incidental charges) whereas large banks can afford, even at a loss, to simply throw around large chunks of statement credits and benefits. I imagine Discover doesn't quite have the resources to be able to do compete effectively, or even if they did, I'm guessing they've come to the conclusion that the endeavour might not really be worthwhile.

 

From the looks of it, Discover looks like they're comfortable with their current target segment. They shed whatever 'higher end' cards they had ages ago, and now they're stripping whatever perks their cards did have to replace it with a magazine Smiley Happy


Discover has far less revenue than amex, and they come out with the similar net income. These two may be targeting different market, the end result is similar. lol

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ☕ Λlti-ၺ ☕▲B ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 11 of 60
Highlighted
Senior Contributor

Re: Cards with top benefits for top tier customers.


@FortifiedHM wrote:

@netthier wrote:


I imagine this is because it's not their target market segment. Considering how competitive the premium card market is currently, I don't know if Discover would be able to keep up as effectively with the one-upmanship that larger banks / established players are able to do. Signs of strain can be seen even in Amex what with benefits always having some kind of a caveat or condition (staggered credits for dining/Uber/Saks and 'conditional' credits like airline incidental charges) whereas large banks can afford, even at a loss, to simply throw around large chunks of statement credits and benefits. I imagine Discover doesn't quite have the resources to be able to do compete effectively, or even if they did, I'm guessing they've come to the conclusion that the endeavour might not really be worthwhile.

 

From the looks of it, Discover looks like they're comfortable with their current target segment. They shed whatever 'higher end' cards they had ages ago, and now they're stripping whatever perks their cards did have to replace it with a magazine Smiley Happy


Discover has far less revenue than amex, and they come out with the similar net income. These two may be targeting different market, the end result is similar. lol


I could careless, I don't use Disco, I use Amex.  Also, about a $637 million difference in net income, I don't think that is similar.


Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 12 of 60
Highlighted
Valued Contributor

Re: Cards with top benefits for top tier customers.


@netthier wrote:

Signs of strain can be seen even in Amex what with benefits always having some kind of a caveat or condition (staggered credits for dining/Uber/Saks and 'conditional' credits like airline incidental charges) whereas large banks can afford, even at a loss, to simply throw around large chunks of statement credits and benefits.

Yep.  The signs of strain are definitely showing at Amex.  There are very few benefits that don't have a caveat, a condition, or a string attached, usually to encourage breakage.  They also have little tricks to delay payouts.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom Unlimited
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Freedom • Chase United MileagePlus • UNFCU Azure
Message 13 of 60
Highlighted
Regular Contributor

Re: Cards with top benefits for top tier customers.

American Express is actively building out new airport lounges including the 15,000 square foot JFK lounge at Terminal 4.  The lounges get high reviews as well which are accessible with Platinum and Centurion.  Other cards seem to partner with lounge programs but it seems as though American Express is the only card issuer to actually have their own airport lounges that I know of.  In the old days the Diners Club card was competitive as a high end card but they aren’t accepting applications for their cards while the highest end is based off the World Mastercard Elite and I believe the last issued Diners Club may have been based off of Priority Pass lounges.  One wonders if Chase will ever build out airport lounges for its Sapphire Reserve to compete against American Express if additional lounge space at some airports is possible or if other card issuers will evolve on lounge offerings.

 

 

 

 

Message 14 of 60
Highlighted
Valued Contributor

Re: Cards with top benefits for top tier customers.


@redpat wrote:

@FortifiedHM wrote:

@netthier wrote:


I imagine this is because it's not their target market segment. Considering how competitive the premium card market is currently, I don't know if Discover would be able to keep up as effectively with the one-upmanship that larger banks / established players are able to do. Signs of strain can be seen even in Amex what with benefits always having some kind of a caveat or condition (staggered credits for dining/Uber/Saks and 'conditional' credits like airline incidental charges) whereas large banks can afford, even at a loss, to simply throw around large chunks of statement credits and benefits. I imagine Discover doesn't quite have the resources to be able to do compete effectively, or even if they did, I'm guessing they've come to the conclusion that the endeavour might not really be worthwhile.

 

From the looks of it, Discover looks like they're comfortable with their current target segment. They shed whatever 'higher end' cards they had ages ago, and now they're stripping whatever perks their cards did have to replace it with a magazine Smiley Happy


Discover has far less revenue than amex, and they come out with the similar net income. These two may be targeting different market, the end result is similar. lol


I could careless, I don't use Disco, I use Amex.  Also, about a $637 million difference in net income, I don't think that is similar.


Nobody demands you caring about those, lol. whats the fuss.

 

OFC its similar in the grand scheme of things, considering AXP has a total revenue of 30+B, while net income is 2.7B. This is comparing to DFS's 11B/2.1B.

 

This simply demonstrates the fact that AXP has way more spending than DFS, with similar profit, perhaps because AXP is targeting a more expensive market segment. This obviously is not a comment on if each company has the right strategy. Fact is as long as they are making billions of profit, I doubt their sharholders care how they do it.

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ☕ Λlti-ၺ ☕▲B ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 15 of 60
Highlighted
Valued Contributor

Re: Cards with top benefits for top tier customers.


@adamj023 wrote:

American Express is actively building out new airport lounges including the 15,000 square foot JFK lounge at Terminal 4.  The lounges get high reviews as well which are accessible with Platinum and Centurion.  Other cards seem to partner with lounge programs but it seems as though American Express is the only card issuer to actually have their own airport lounges that I know of.  In the old days the Diners Club card was competitive as a high end card but they aren’t accepting applications for their cards while the highest end is based off the World Mastercard Elite and I believe the last issued Diners Club may have been based off of Priority Pass lounges.  One wonders if Chase will ever build out airport lounges for its Sapphire Reserve to compete against American Express if additional lounge space at some airports is possible or if other card issuers will evolve on lounge offerings.

 


They should build one in ATL, claiming itself to be the businest airport in the whole white world. lol

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ☕ Λlti-ၺ ☕▲B ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 16 of 60
Highlighted
New Contributor

Re: Cards with top benefits for top tier customers.


@adamj023 wrote:

American Express is actively building out new airport lounges including the 15,000 square foot JFK lounge at Terminal 4.  The lounges get high reviews as well which are accessible with Platinum and Centurion.  Other cards seem to partner with lounge programs but it seems as though American Express is the only card issuer to actually have their own airport lounges that I know of.  In the old days the Diners Club card was competitive as a high end card but they aren’t accepting applications for their cards while the highest end is based off the World Mastercard Elite and I believe the last issued Diners Club may have been based off of Priority Pass lounges.  One wonders if Chase will ever build out airport lounges for its Sapphire Reserve to compete against American Express if additional lounge space at some airports is possible or if other card issuers will evolve on lounge offerings.

 

 


Not sure what point you're trying to make here? Considering that having Centurion lounges is about the one main point of differentiation for Amex Platinum, of course they're pursuing it. A ten-year lease of lounge space for $20 million to entice customers is a great way to set yourself apart compared to, say, paying a recurring annual credit of hundreds of dollars per customer to however many customers you may have, which costs far more. The point still stands that the reason for Amex benefits always having some sort of a condition or caveat is because it may be financially straining to compete with the larger banks who simply have more capital at disposal, and are able to do things even at a loss in the short term just to pressure the competition. This is likely the reason why Discover may not see it as a worthwhile pursuit to try to enter this market segment.

Message 17 of 60
Highlighted
Regular Contributor

Re: Cards with top benefits for top tier customers.

The airports that American Express is building out lounges in are Denver, Los Angeles, JFK in New York, London Heathrow and Charlotte in North Carolina.  La Guardia airport in New York is being redone so I presume that a new replacement will be built during the airport reconstruction.  Obviously various factors determine where they build out lounges, but the current additional buildouts are in major hub airport areas and really make sense.  Chicago is a major hub and has no existing lounge or one being built out as of now by Amex.  Newark airport in NJ is also not on the list.  I will say the latest set of additional lounges are in key areas as JFK and LAX alone have enormous traffic and CLT is experience growth as well which has lots of ongoing connection flights.  London has always been popular.  I presume Denver is like the Charlotte of the West Coast in terms of airport connections.  The new lounges by Amex make it vastly more likely people who travel often will be able to utilize them and makes the Amex platinum extremely more valuable.  

Message 18 of 60
Highlighted
Super Contributor

Re: Cards with top benefits for top tier customers.


@FortifiedHM wrote:

@adamj023 wrote:

American Express is actively building out new airport lounges including the 15,000 square foot JFK lounge at Terminal 4.  The lounges get high reviews as well which are accessible with Platinum and Centurion.  Other cards seem to partner with lounge programs but it seems as though American Express is the only card issuer to actually have their own airport lounges that I know of.  In the old days the Diners Club card was competitive as a high end card but they aren’t accepting applications for their cards while the highest end is based off the World Mastercard Elite and I believe the last issued Diners Club may have been based off of Priority Pass lounges.  One wonders if Chase will ever build out airport lounges for its Sapphire Reserve to compete against American Express if additional lounge space at some airports is possible or if other card issuers will evolve on lounge offerings.

 


They should build one in ATL, claiming itself to be the businest airport in the whole white world. lol


But ATL has nine Delta Sky Clubs and three Priority Pass lounges. Delta has 72.54% of ATL's passengers (wikipedia). There are no free guests at the Sky Clubs, but most Amex Platinum customers have lounge access already.

 

I fly JFK-LAX often and like the JFK T4 Sky Club. Having a Centurion will be even better. There it's not quite so redundant, though, as T4 handles not just west coast and international Delta flights, but also a few other airlines.

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 19 of 60
Highlighted
Valued Contributor

Re: Cards with top benefits for top tier customers.

thats an excellent point. You can't do a layover at ATL and not see one skyclub somewhere, lol.

 

I heard citi prestige and CSR also have decent lounge access?

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ☕ Λlti-ၺ ☕▲B ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 20 of 60
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.