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Rumor : Ultra premium Amex card being developed

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CreditCuriosity
Moderator Emeritus

Re: Rumor : Ultra premium Amex card being developed

Keep this thread http://ficoforums.myfico.com/t5/Credit-Cards/Forum-Etiquette/m-p/2797115

 

Some borderline rude comments

Message 41 of 53
Brian_Earl_Spilner
Credit Mentor

Re: Rumor : Ultra premium Amex card being developed

Smh at everyone complaining about $40k salaries getting in. You guys realize that amex waives the AF on a Platinum for active duty military, right? That means an E1 making below poverty levels can get in. Should that perk be removed to reduce crowding and make it more exclusive?

    
Message 42 of 53
Anonymous
Not applicable

Re: Rumor : Ultra premium Amex card being developed

It's also worth noting that the more you strip away from the Platinum card, the less likely people will be to pay the AF.  I can't see this being AMEX's goal. 

I think there is probably room for a card, with perks that are greater than the Platinum but less than the Centurion, however. 

And to this talk about the lounges, unless they make a rule of no one under X age to be admitted, there will always be kids/families in them. Have none of you ever taken your kids into one while on personal travel?  I sure have. And I probably look like a bum while I'm in there since I don't wear a suit 24/7 (my kids aren't running around though, I'll give you that). 

Message 43 of 53
wasCB14
Super Contributor

Re: Rumor : Ultra premium Amex card being developed


@iced wrote:

@VPExecutive wrote:

@NRB525 wrote:

Well, if they take Centurion Lounge access away from Platinum cardholders, after previously blocking Gold Card and others from even buying a day pass, the Centurion Lounges will be nearly empty.


Won't make a difference to them. AMEX will still be collecting fees from people who actually have an income to support what Centurion Lounge access is supposed to be like... For people with higher incomes. No longer will there be daddy on his $40,000/year salary with his four kids entering the lounge so they can act like brats and run around the people with a glass of whine in their hand just because he pays $550/year for his Platinum card that's easy to get This hasn't been possible for a while. Only Centurion members can bring in their whole family. Platinum members just get 2 guests. 4 kids would be possible if mommy has her own Platinum or is an additional card member, though (for a $175 fee).

 

It's not like people pay for food and drinks in the lounge... They're free. I tip for drinks. Less people in the lounge will cost AMEX less money.  And there will be less tip income for bartenders.


I'm actually ok with the idea of American Express restricting it to the higher tier card, though for a different reason. This would be a great way for people who aren't insufferable snobs to easily distinguish who the insufferable snobs are and avoid them. A lot of wealthy people don't mind mingling with the $40,000/year parents, particularly if they're deriving a better return on value by not buying the "prestige" cost attached to such a card. As a bonus, the other lounges might be a touch less crowded since they'll be a little more snob-free.

 

On a more serious note, if you think for a second that there won't still be $40,000/year people who will pay even more in a fruitless effort to convince people they're actually wealthy ballers, you haven't spent much time in the auto loan approvals section.


People who are really concerned about avoiding the masses can stick to the growing number of Polaris and Flagship-tier lounges.

 

But as I said earlier, kids aren't a problem in all lounges. A strict policy that seeks to avoid the extremes of crowding at the worst of times can be unnecessarily draconian during quieter times.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 44 of 53
VPExecutive
Frequent Contributor

Re: Rumor : Ultra premium Amex card being developed


@Brian_Earl_Spilner wrote:

Smh at everyone complaining about $40k salaries getting in. You guys realize that amex waives the AF on a Platinum for active duty military, right? That means an E1 making below poverty levels can get in. Should that perk be removed to reduce crowding and make it more exclusive?


As much as I respect our military, that perk is too good to be true. Time to bring AMEX's military benefits back down to earth... Even Navy Federal doesn't offer waived annual fees on a $550/year card for their members. I could see AMEX maybe keeping the benefit waived on Platinum but not for this new rumored card. 

 

There's also plenty of people in the military that make well above $100,000 per year, so an E1 shouldn't be getting approved for a Platinum, but AMEX has made the mistake of relaxing their underwriting for the card over recent years; thus, the issues they have now. 

Message 45 of 53
Anonymous
Not applicable

Re: Rumor : Ultra premium Amex card being developed


@VPExecutive wrote:

@Brian_Earl_Spilner wrote:

Smh at everyone complaining about $40k salaries getting in. You guys realize that amex waives the AF on a Platinum for active duty military, right? That means an E1 making below poverty levels can get in. Should that perk be removed to reduce crowding and make it more exclusive?


As much as I respect our military, that perk is too good to be true. Time to bring AMEX's military benefits back down to earth... Even Navy Federal doesn't offer waived annual fees on a $550/year card for their members. I could see AMEX maybe keeping the benefit waived on Platinum but not for this new rumored card. 

 

There's also plenty of people in the military that make well above $100,000 per year, so an E1 shouldn't be getting approved for a Platinum, but AMEX has made the mistake of relaxing their underwriting for the card over recent years; thus, the issues they have now. 


"...the issues they have now."   Again, what are these issues that AMEX has?  Are we stuck on the crowded lounges?  What other issue is there?  AMEX is collecting $550 for each cardholder (outside of Military), so that's $$ to the bottom line. 

I'm all for the perks of the Platinum card and get every dollar in benefits I can out of it. I'm not stuck on thinking it's an elite card, however. And why does it need to be an elite card in everyone's eyes?

Message 46 of 53
VPExecutive
Frequent Contributor

Re: Rumor : Ultra premium Amex card being developed


@Anonymous wrote:

@VPExecutive wrote:

@Brian_Earl_Spilner wrote:

Smh at everyone complaining about $40k salaries getting in. You guys realize that amex waives the AF on a Platinum for active duty military, right? That means an E1 making below poverty levels can get in. Should that perk be removed to reduce crowding and make it more exclusive?


As much as I respect our military, that perk is too good to be true. Time to bring AMEX's military benefits back down to earth... Even Navy Federal doesn't offer waived annual fees on a $550/year card for their members. I could see AMEX maybe keeping the benefit waived on Platinum but not for this new rumored card. 

 

There's also plenty of people in the military that make well above $100,000 per year, so an E1 shouldn't be getting approved for a Platinum, but AMEX has made the mistake of relaxing their underwriting for the card over recent years; thus, the issues they have now. 


"...the issues they have now."   Again, what are these issues that AMEX has?  Are we stuck on the crowded lounges?  What other issue is there?  AMEX is collecting $550 for each cardholder (outside of Military), so that's $$ to the bottom line. 

I'm all for the perks of the Platinum card and get every dollar in benefits I can out of it. I'm not stuck on thinking it's an elite card, however. And why does it need to be an elite card in everyone's eyes?


I'm specifically talking about the crowded lounges, yes. Many people use up the perks where it may cost AMEX money to give people the card anyways, it's not like they're pocketing $550 per cardholder. 

Message 47 of 53
longtimelurker
Epic Contributor

Re: Rumor : Ultra premium Amex card being developed


@VPExecutive wrote:

@Anonymous wrote:

@VPExecutive wrote:

@Brian_Earl_Spilner wrote:

Smh at everyone complaining about $40k salaries getting in. You guys realize that amex waives the AF on a Platinum for active duty military, right? That means an E1 making below poverty levels can get in. Should that perk be removed to reduce crowding and make it more exclusive?


As much as I respect our military, that perk is too good to be true. Time to bring AMEX's military benefits back down to earth... Even Navy Federal doesn't offer waived annual fees on a $550/year card for their members. I could see AMEX maybe keeping the benefit waived on Platinum but not for this new rumored card. 

 

There's also plenty of people in the military that make well above $100,000 per year, so an E1 shouldn't be getting approved for a Platinum, but AMEX has made the mistake of relaxing their underwriting for the card over recent years; thus, the issues they have now. 


"...the issues they have now."   Again, what are these issues that AMEX has?  Are we stuck on the crowded lounges?  What other issue is there?  AMEX is collecting $550 for each cardholder (outside of Military), so that's $$ to the bottom line. 

I'm all for the perks of the Platinum card and get every dollar in benefits I can out of it. I'm not stuck on thinking it's an elite card, however. And why does it need to be an elite card in everyone's eyes?


I'm specifically talking about the crowded lounges, yes. Many people use up the perks where it may cost AMEX money to give people the card anyways, it's not like they're pocketing $550 per cardholder. 


The crowded lounges is only an issue for Amex if and when people start dropping the card because of that.   I would guess that that is a small effect, those that believe in the prestige of having the card will continue to renew for that reason, and others find value in the other perks and 5x airfare etc.  And while they don't pocket $550 per cardholder, most are probably net positive so no reason to change.

Message 48 of 53
CreditCuriosity
Moderator Emeritus

Re: Rumor : Ultra premium Amex card being developed

This topic is getting way off topic.....

Message 49 of 53
Anonymous
Not applicable

Re: Rumor : Ultra premium Amex card being developed

I am hearing the following:

 

1500 AF

most perks of centurion card

invite only for plat holders

 

again, I have zero interest in this, even plat isn't a clear win for me.

Message 50 of 53
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