The Platinum should change its...

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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agp
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Postby agp » Thu Jun 07, 2012 12:41 pm

NYC_Dweller wrote:why not just try and qualify for the centurion of you are considering Palladium?


Main reason is because the Centurion is too expensive. Even if I was a millionare and did not care much for such a hefty initiation and annual fee, I still wouldn't be able to justify spending that much on a credit card.
And the benefits just isn't worth it. I don't go to concerts or sports games that often. I have only been to three concerts in the past 5 years, and that's only because I got those ticktes as presents. And I usually don't have time for sport games. The little time I can squeeze out of my schedule, I go to football games only at my Alma Mater, University of Michigan, but I just get the season tickets or tickets from friends who are faculty there. Concierge sounds cool, but I haven't needed them all my life, so I probably don't need them now.

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American
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Postby American » Thu Jun 07, 2012 1:29 pm

Crashem wrote:That always annoyed me about Plat. The fact it gets less points than Premier Gold.


So the platinum rewards don't equate to more? I always thought they got some sort of better transfer or redeem rate. I know the membership rewards is pretty pathetic in rewards rate. I just wait until delta has their 1.5 mile per point event then dump them.
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Crashem
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Postby Crashem » Thu Jun 07, 2012 2:02 pm

American wrote:So the platinum rewards don't equate to more? I always thought they got some sort of better transfer or redeem rate. I know the membership rewards is pretty pathetic in rewards rate. I just wait until delta has their 1.5 mile per point event then dump them.


I think a slightly better redemption rate when using for travel discount, but no way it makes up for the extra points you get for the categories. MR points have definitely been nerfed in recent years. Used to be 1 cent a point was minimum and standard for MR. Now it is closer to half a penny a point. MR program still pretty good for ability to transfer to multiple airlines. Airline miles on the right tickets is the way to go to max value. I used a bunch of MR points to USAir . Economy tickets were like 3k a person minimum. 110k for business class. Business class tickets were like 8k a person. So around 7 cents a MR point which is great.
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danpass
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Postby danpass » Thu Jun 07, 2012 3:12 pm

Crashem wrote:That always annoyed me about Plat. The fact it gets less points than Premier Gold.

supposedly the alternative is that you get 20% back when paying travel with points.

NYC_Dweller
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Postby NYC_Dweller » Thu Jun 07, 2012 3:58 pm

agp wrote:Main reason is because the Centurion is too expensive. Even if I was a millionare and did not care much for such a hefty initiation and annual fee, I still wouldn't be able to justify spending that much on a credit card.
And the benefits just isn't worth it. I don't go to concerts or sports games that often. I have only been to three concerts in the past 5 years, and that's only because I got those ticktes as presents. And I usually don't have time for sport games. The little time I can squeeze out of my schedule, I go to football games only at my Alma Mater, University of Michigan, but I just get the season tickets or tickets from friends who are faculty there. Concierge sounds cool, but I haven't needed them all my life, so I probably don't need them now.


overall the centurion is cheaper than the palladium. it may not look that way on face value due to centurion having an annual fee of $2,500 and the palladium $595.

the palladium is exclusive to jp morgan's top tier private banking clients. the average liquid asset is around $30 million. if this criteria is out of reach there is no need to apply. however, if you have a 8-10 million that you want them to manage feel free to apply.

so overall in my opinion the centurion card is "cheaper" to obtain.

Crashem
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Postby Crashem » Thu Jun 07, 2012 5:39 pm

NYC_Dweller wrote:overall the centurion is cheaper than the palladium. it may not look that way on face value due to centurion having an annual fee of $2,500 and the palladium $595.

the palladium is exclusive to jp morgan's top tier private banking clients. the average liquid asset is around $30 million. if this criteria is out of reach there is no need to apply. however, if you have a 8-10 million that you want them to manage feel free to apply.

so overall in my opinion the centurion card is "cheaper" to obtain.


People have been using the Palladium backdoor to obtain it. The requirement is no longer millions. They opened it up to normal applications for like 2-3 months. Then closed the door and now require a JP Morgan private bank/client relationship which should take like 250k invested with them. However there are loopholes people are using to obtain this card assuming they would qualify for 15k CL minimum and excellent credit. Many of the benefits of the Palladium are undocumented btw.
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NYC_Dweller
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Postby NYC_Dweller » Fri Jun 08, 2012 11:45 am

Crashem wrote:People have been using the Palladium backdoor to obtain it. The requirement is no longer millions. They opened it up to normal applications for like 2-3 months. Then closed the door and now require a JP Morgan private bank/client relationship which should take like 250k invested with them. However there are loopholes people are using to obtain this card assuming they would qualify for 15k CL minimum and excellent credit. Many of the benefits of the Palladium are undocumented btw.


What is this backdoor method? I took my investments out of JP Morgan in 2009 and went with Morgan Stanley. Now I did not have 10 million vested but I did have a lot of money with JP at the time.

thomaswhitehall
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Postby thomaswhitehall » Fri Jun 08, 2012 1:01 pm

Just get a copy of the application and fax it in (must be faxed since they use signature on application for engraving purposes....) PM me for details I have the app

Don't want to go into details since I don't want to destroy the method for others.....I'm going to assume they are going to tighten things up shortly to avoid saturating the market with this. If you call they tell you it's only private banking clients.

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FastSRT8
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Postby FastSRT8 » Sat Jun 09, 2012 1:48 pm

Awesome. I think I need to look into this.


thomaswhitehall wrote:Just get a copy of the application and fax it in (must be faxed since they use signature on application for engraving purposes....) PM me for details I have the app

Don't want to go into details since I don't want to destroy the method for others.....I'm going to assume they are going to tighten things up shortly to avoid saturating the market with this. If you call they tell you it's only private banking clients.
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SteveT
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Postby SteveT » Mon Jun 11, 2012 1:25 pm

Cyberius wrote:Hah! Yea, any type of metal would be kind of cool. I think the visa black card is carbon fiber or something of the sort. I still don't know why they put the numbers right through the gladiator. There are so many simple design changes they could make to improve the appearance of the card. I'm not complaining about the benefits though :)


I like the current design of the Amex Card. I didnt like the design when the cards had smaller "American Express" lettering a few years ago.

What would you do to change the design?



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