American Express Platinum Card

[Renoir]

Steve's thread regarding the good samaritan lending her Amex Platinum card to a homeless man made me think of this.

I also posted this as a follow up, but didn't mean to/want to hijack the thread.

Do any of you think that the American Express Platinum card has lost it's cache or panache? I have seen many more of them in the wild which leads me to believe that Amex has become more liberal with the issuance of them.

Any thoughts?

[Chozn1]

They're not hard to get. I think it's like $350 a year and you're set. I've actually got Delta AMEX Reserve which is a step above platinum. I flash it at an airport and I get into the Crown Room, ect... They threw in platinum cards for my 3 other cards on the account at no extra charge.

[TheVTCGuy]

I've had the Platty for almost 15 years, still use it quite a bit and it comes in very handy, but I think you might be right about the "alure" of it going down a bit. For me, the next step is going to be the AMEX Centurian... Might try to earn it this year!

[figbo]

They gave me the Blue card without asking for it!!

[sea-dweller]

They have become much more liberal about issuing them. Amex "Black" is now the top tier Amex card ($2,500 annual fee).

[TheVTCGuy]

Originally Posted by sea-dweller

They have become much more liberal about issuing them. Amex "Black" is now the top tier Amex card ($2,500 annual fee).

AND... a $5,000 initiation fee!

I'm trying to get them to wave the initiation fee

[Renoir]

Originally Posted by sea-dweller

They have become much more liberal about issuing them. Amex "Black" is now the top tier Amex card ($2,500 annual fee).

It's that annual fee + $5k initial fee....

For the first year that's a Sub C (my wife reminds me)....but she also thinks flashy Italian cars are obnoxious, so what does she know.

[Ed Rooney]

I have a Platinum, and it is meaningless. It has no panache. No one cares what CC you use anymore. Cards like Amex, Visa Signature and World MC actually hurt your credit scores a little bit (important at refi time) because they don't report the true limit.

I usually alternate between Gold Rewards and Platinum depending on if I can get any points bonuses. But I am thinking of moving all of my spending to the Virgin Black Amex. Amex Gold is really the sweet spot for their card range.

[FremStar]

Forget credit and annual fees, isn't cold hard cash still king?

[sleddog]

Originally Posted by figbo

They gave me the Blue card without asking for it!!

Are you sure that wasn't a RED card Raf??

5K annual fee...Am I reading that right??

[DAVIDSW]

To me centurion is a waste. You can charge the same amount on your Platinum as long as it is within your spending pattern

[Renoir]

It's a 5k initial fee, plus 2.5k for the first year, then the annual fee is 2.5k.

[Mike B]

Originally Posted by sleddog1000

Are you sure that wasn't a RED card Raf??

5K annual fee...Am I reading that right??

Yes, you are :)

Here is all the info you'd ever want to know about the black AMX card here:

http://en.wikipedia.org/wiki/Centurion_Card

Quite insane really . . . .

[Renoir]

Originally Posted by sfirempong

Forget credit and annual fees, isn't cold hard cash still king?

Definitely, but sometimes one doesn't want to travel/walk around with a brick of cash and then some.

[Renoir]

Originally Posted by DAVIDSW

To me centurion is a waste. You can charge the same amount on your Platinum as long as it is within your spending pattern

Very true...I think the only real benefit is there truly is no spending limit, I read that someone bought a plane with one, plus upgraded concierge, which to me is useless.

[sleddog]

Originally Posted by Mike B

Yes, you are :)

Here is all the info you'd ever want to know about the black AMX card here:

http://en.wikipedia.org/wiki/Centurion_Card

Quite insane really . . . .

Mike...........

Not for me......

[FremStar]

Originally Posted by Renoir

Definitely, but sometimes one doesn't want to travel/walk around with a brick of cash and then some.

That's what Debit cards are for

[mpkRolex]

Originally Posted by Renoir

Steve's thread regarding the good samaritan lending her Amex Platinum card to a homeless man made me think of this.

I also posted this as a follow up, but didn't mean to/want to hijack the thread.

Do any of you think that the American Express Platinum card has lost it's cache or panache? I have seen many more of them in the wild which leads me to believe that Amex has become more liberal with the issuance of them.

Any thoughts?

Even I got one last year so they sure have been very liberal with issuing them I will be enjoying my free companion ticket this year

[ObscureLight]

Platinum cards are a joke now, I got offered one February of this year before the CARD act went through, I was only 18. The centurion however is good if you know how to use it. The concierge service is perfect for very liberal spenders as the concierge will use Amex's leverage as a company to get you what you need. Unless you're spending close to 7 digits a year I'd say don't bother with the centurion

[Lamone]

AMEX Paltinum cars aren't what they used to be, beside from the "useless" Centurion.

[Ed Rooney]

The thing about the traditional amex charge cards is that the colors are not tied to your purchasing ability. Anyone is welcome to apply for the green, gold, plum, red, zync or platinum cards, provided they meet a basic income requirement. The colors represent your benefits package and how much annual fee you are willing to pay for them. A basic green cardholder might be approved for far more than a platinum. You can dig deeper on flyertalk.

I just looked at the Delta Reserve amex card, and I don't get it. I wouldn't call it a step above platinum. It's the same thing as platinum, except revolving credit, delta points instead of MR, and just Delta lounges. Platinum gets into delta, usairways, american and continental lounges, and I can transfer MR pts to delta skymiles or most other major FF programs. I would only get it if I lived near a major delta hub and flew delta 15+ times per year.

[Renoir]

Originally Posted by Ed Rooney

The thing about the traditional amex charge cards is that the colors are not tied to your purchasing ability. Anyone is welcome to apply for the green, gold, plum, red, zync or platinum cards, provided they meet a basic income requirement. The colors represent your benefits package and how much annual fee you are willing to pay for them. A basic green cardholder might be approved for far more than a platinum. You can dig deeper on flyertalk.

Absolutely, my Dad has a green card because he's old school and thinks it's just status and refuses to pay the higher fee, plus wouldn't use the benefits, and he has never been declined a purchase for high dollar amounts...member since 1967

[dalip]

Amex generally can take a hike. Crap.

[Nicko]

I got one back in the 80s, my dad told me tp first get a Sears card, and then Amex would approve me. He was right. I bought a few things at Sears, paid them off and volia, an Amex was in the mail. Those were the days you had to build your credit. So, 20 plus years later I have an almost perfect credit rating. Amex was one of the keys to getting and establishing good credit years ago. Not so anymore.

[Ed Rooney]

Originally Posted by Nicko

I got one back in the 80s, my dad told me tp first get a Sears card, and then Amex would approve me. He was right. I bought a few things at Sears, paid them off and volia, an Amex was in the mail. Those were the days you had to build your credit. So, 20 plus years later I have an almost perfect credit rating. Amex was one of the keys to getting and establishing good credit years ago. Not so anymore.

I did it the same way. Sears card first, then Amex Green. My only regret is that I canceled the amex a few years later, so my "member since" date is only 2004, when I got it again.

I remember reading an article a few years ago where they asked a number of wealthy people which credit cards they used. A large number of them had Sears card and Amex Green.

Back in those days it was a person looking at your credit report, and an Amex was looked upon favorably. Now it's a formula, and Amex has no meaning.

Amex generally stands behind their members, but when they decide to dump on you, they do it big.

[rsg]

Originally Posted by DAVIDSW

To me centurion is a waste. You can charge the same amount on your Platinum as long as it is within your spending pattern

x2

[Boston Litigator]

canceled mine a year ago and went with the Costco Amex card (wife spends a lot a Costco) and replaced my Plantinum with a Citi Amex Plantinum. The Citi's cards benefits are almost identical except for the "free" companion ticket which I never used. I can buy a plane ticket with the $ saved on annual fee

[STEELINOX]

Originally Posted by TheVTCGuy

I've had the Platty for almost 15 years, still use it quite a bit and it comes in very handy, but I think you might be right about the "alure" of it going down a bit. For me, the next step is going to be the AMEX Centurian... Might try to earn it this year!

I love my PLAT card !

[SLRdude]

I've had Amex since 1999, when I was 23 years old.
I currently have the Premier Rewards Gold, which is actually better for me than the Platinum card.
They "invited" me to get the Platinum card many many times, but for what I do and what I spend, the benefits of the Premier Rewards Gold card are just better.
It's more money a year than a standard gold card, but I get 3 points per dollar for hotels, airfare and rental cars, 2 points per dollar for gas, groceries and restaurants, 1 point per dollar for everything else.
The Platinum is one point per dollar and the extra benefits are of no use to me. About the only thing I'd use would be the airport lounge, but that's not worth the 475 dollars fee and giving up my additional points.

With that said, I love Amex and I use it exclusively in lieu of my debit card. Their customer service is second to none (other than Apple).

I will be a customer for life.

As far as status... Amex needs a bit higher credit rating than the other guys to have one, but the colour of the card has more to do with what you are willing to spend for a fee than anything else.
I must admit that the Platinum does look better though LOL. Not much of a gold person myself. :-)

I have a couple of friends with the Centurion card, but the both spend around 100.000 A MONTH with Amex. The card is metal and really really cool looking for sure!

[TheDude]

I swear by my Amex Platinum. Amex walks on water as far as I'm concerned.