The Fuzz wrote:Bwahahhahahaahahahahahaah!! Yeah, that's a good one! AMEX waiving the fee on the Platinum card! BWAHAHHAHAHHAHAHAHAH!!! Wheww!!! I needed a good laugh this morning. lol
AMEX has no reason to waive the fee on such a successful card product. To my knowledge they never have waived the fee. $450 really isn't that much considering everything you get with it. And if you think the Platinum card is the same as the Gold card, then you haven't done a whole lot of research on them. The Platinum card gets you access to all of the airport lounges, access to their concierge, better reward points, Platinum card member benefits like the travel services, hotel program, rental car program, and the list goes on. The Platinum card is ten times the card that the Gold card is and people line up to pay the $450 fee on it. AMEX could raise the fee and people would still pay it. The benefits are only slightly below the Centurion benefits and that fee is $2500 with a massive initiation fee attached. If I traveled enough to benefit from the travel perks that the card offered then I'd have a Platinum card in a heart beat. It is only going to really benefit travelers though. If you stay at home mostly and shop around town, then the Platinum card isn't the product for you. That is why the Gold card exists.
Depending upon the person and the company, you have a point with the Platinum gets you aacess to the airport lounges (coming in OCT you wont get directly in with Continental and Delta). Buy yes you are correct about the others. You get a concierge on the Platinum and not on the Gold. I don't know if I would say it's 10 times what the Gold is.
Let's compare the late 80's to today. I remember standing in line at stores like the Gap, Caldors, Hermans and I saw a lot of people using the Gold Card. Now remember in those days grocery stores, movies, post offices and fast food restaurants didn't accept credit cards.
I can tell you nowadays I see a few people using the Platinum, but not as frequently as I use to see people using the Gold. But you also have to remember the annual fee is 450 for a Platinum and 125 for the Gold, which is waived for the first year.
If companies stood up to American Express and said that their employees aren't aloud to use the Platinum card for business, then the Platinum would go out of business. How many people do you think would want to use the card at places like Bed Bath and Beyond, The Container Store, Gap, etc?
I wouldn't say people are lining up to pay 450 for the card. But I would say a lot of people are
using Capitol 1and chase sapphire cards in addition to the Platinum.
Fuzz do you have the Platinum?