Amex Plat AF Increase to $550

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Taalar
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Re: Amex Plat AF Increase to $550

Postby Taalar » Tue Mar 07, 2017 7:47 pm

This has got to be one of the most interesting threads I have read on here. Thanks for the stimulating conversation guys/gals. ;) I think both sides have brought up some valid points and food for thought.
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CarefulBuilder14
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Re: Amex Plat AF Increase to $550

Postby CarefulBuilder14 » Tue Mar 07, 2017 11:21 pm

I'm happy that Amex (and most major issuers) don't have high income/spending requirements on their premium US cards (by which I mean $100ish-$500ish AF products). Travel (especially if you include award travel and perks) represents a big share of my spending.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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amexmember12
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Re: Amex Plat AF Increase to $550

Postby amexmember12 » Thu Mar 09, 2017 4:49 pm

As a millennial, I am not too thrilled about the increase in fees or lackluster benefits that were added. However, I still plan to keep my card. Mainly for the benefits and occasional spend for big purchases or things I would like the extended warranty for. As a consultant who travels 3 weeks out of the month and always flying Delta, I make use of the Sky Club access. Between me and wife who is a consultant as well we have used majority if not all of the benefits the card has to offer.

The card's benefits line up perfectly with our company travel policies, we stay primarily at Marriott/SPG/Hilton, rent exclusively from National/Enterprise, and fly delta (preferred company airline) 98% of the time. However regardless that, I put 95% spend on my CSR which my wife is an AU on, since most of our spend falls into dining and travel. Outside of that the rest of my spend goes to BCE and ED from Amex. Except when an interesting quarter rolls around for Chase Freedom or Discover IT.
CSR $24K | Discover IT $22.9K | AMEX BCE $15K | AMEX EveryDay $12.9K | Marriott Premier - $11K | Delta Platinum $10K | Freedom $6.5K | Freedom $6K | BOA Travel Rewards - $2.7K | AMEX Platinum

mountaindewvoltage
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Re: Amex Plat AF Increase to $550

Postby mountaindewvoltage » Thu Mar 09, 2017 11:51 pm

yfan wrote:
mountaindewvoltage wrote:You also assume that many millennials (or anyone in general) knows about the perks of an AMEX..."Normal" people don't dispute transactions, use extended warranties, rack up points, use price protection, etc... That's only reserved for people that use forums like these...You're assuming everyone is like you and I.

Actually, you are assuming that everyone is like you or like the people you know. No one is telling you that "everyone" wants an Amex, or knows about the benefits. You seem to be insistent, however, that just because a lot of people in your life don't know or care about its benefits, then that means that NO ONE does (or at least no one who one can possibly come across in the normal walk of life). To the extent that people just use whatever card their bank issues to them, that applies across generations, and has nothing specifically to do with us millennials. Again, you are neither the only millennial here nor the only person who knows other millennials.

And the Amex Platinum is not for "normal" people. I don't know how many ways or times I can say this.


Please gather some data and show me who outside of forums like this and MyFico actually uses extended warranties, dispute resolution, and price protection on their credit cards. I'm assuming 0.001%.

I'd also like to see the data regarding what percentage of millennials have an AMEX, because I'm almost positive that number is far less than 1% as well. I don't mean just the Platinum, I mean any AMEX.

I'm not sure why you're having such a difficult time understanding this... Normal people don't care what logo is on their card... They just apply for a card, use it, and move on. You seem to think normal people stop and research what credit card they want to apply for.

That's the whole idea of what I'm saying... Millennials; hence, "normal" people, are grouped in with those who just apply for a card, use it, and move on with their lives. AMEX's "prestige" doesn't exist anymore, even with a Platinum card... Because the Platinum card is easy to get as long as you're willing to fork over the annual fee within 30 days, and I don't see AMEX changing that any time soon seeing as they're obviously desperate for business and growth in this day and age.

Even frequent fliers and travelers are considered "normal" people... Because they don't think about credit cards the way people on sites like these do.

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CarefulBuilder14
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Re: Amex Plat AF Increase to $550

Postby CarefulBuilder14 » Fri Mar 10, 2017 2:10 am

If you think less than 1% of millenials have any non-serve Amex, what percentage of millenials do you expect have a CSP or CSR?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Nixon
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Re: Amex Plat AF Increase to $550

Postby Nixon » Fri Mar 10, 2017 11:13 am

CarefulBuilder14 wrote:If you think less than 1% of millenials have any non-serve Amex, what percentage of millenials do you expect have a CSP or CSR?

2%
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mountaindewvoltage
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Re: Amex Plat AF Increase to $550

Postby mountaindewvoltage » Fri Mar 10, 2017 11:41 am

CarefulBuilder14 wrote:If you think less than 1% of millenials have any non-serve Amex, what percentage of millenials do you expect have a CSP or CSR?


Less than 1% for a CSR but a higher percentage than an AMEX. CSP? No idea, but the percentage probably isn't very high, but higher than the Platinum and Reserve.

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CarefulBuilder14
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Re: Amex Plat AF Increase to $550

Postby CarefulBuilder14 » Fri Mar 10, 2017 12:27 pm

Well...it's a lot different in NYC, LA, and SF.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Nixon
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Location: Great Southwest

Re: Amex Plat AF Increase to $550

Postby Nixon » Fri Mar 10, 2017 12:32 pm

CarefulBuilder14 wrote:Well...it's a lot different in NYC, LA, and SF.

You're right. They're not like the rest of us at all.
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luvbullmarkets
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Re: Amex Plat AF Increase to $550

Postby luvbullmarkets » Fri Mar 10, 2017 12:36 pm

mountaindewvoltage wrote: I had my 27 year old co-worker apply for an AMEX Blue (even though he wasn't interested in it, just did it because I asked him to) and he was approved.


Did you get a referral bonus from Amex?
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