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American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
Rory
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Postby Rory » Sat Oct 13, 2012 3:42 pm

yeah i think amex needs to rethink who is getting platinum cards. Its well and good that youre excited to have one but it was never designed around someone with your lifestyle and career. Just seems like all the prestige/exclusivity is going out of it...

go to amex's website and see what youre NPSL is cleared to, that will be interesting
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:


Robrus1
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Postby Robrus1 » Sat Oct 13, 2012 3:46 pm

That's cool man. I want to get that card someday when I'm traveling more, but right now I just can't justify the annual fee. I wish they'd make the Plat card out of metal, similar to the Cent card (but not titanium) or even the CSP. Also I have one AU which my PRG doesn't charge extra for. Seems like the Plat card should be the same way. Hope you enjoy that awesome card!
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

DavidNY
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Postby DavidNY » Sat Oct 13, 2012 4:40 pm

Rory wrote:yeah i think amex needs to rethink who is getting platinum cards.
Just seems like all the prestige/exclusivity is going out of it


"Prestige/exclusivity" may be how some perceive Amex due to their marketing, but they really don't care who gets their plastic as long as the person has a decent credit report and can pay their Amex bills.

jlam572
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Postby jlam572 » Sat Oct 13, 2012 4:58 pm

DavidNY wrote:"Prestige/exclusivity" may be how some perceive Amex due to their marketing, but they really don't care who gets their plastic as long as the person has a decent credit report and can pay their Amex bills.


Im noticing this too...in some countries amex plat is invitation only. I thought I was getting prequalled because 90% of my spending is on airfare and fancy restaurants. :(
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Hawaiian Airlines BOH MC
USAA Amex
Capital One Visa Platinum
Citi Diamond Preferred MC

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 5:12 pm

Rory wrote:yeah i think amex needs to rethink who is getting platinum cards. Its well and good that youre excited to have one but it was never designed around someone with your lifestyle and career. Just seems like all the prestige/exclusivity is going out of it...

go to amex's website and see what youre NPSL is cleared to, that will be interesting


I went to the site just now and it says.

Spending Limit:
No pre-set spending limit*

I have tried 5k on the check spending link and it said This will be approved. Did not want to tryt nything higher. :)

Twelfthjoe
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Postby Twelfthjoe » Sat Oct 13, 2012 5:17 pm

Robrus1 wrote:That's cool man. I want to get that card someday when I'm traveling more, but right now I just can't justify the annual fee. I wish they'd make the Plat card out of metal, similar to the Cent card (but not titanium) or even the CSP. Also I have one AU which my PRG doesn't charge extra for. Seems like the Plat card should be the same way. Hope you enjoy that awesome card!


Its done ok so far for fees. Got $80 back so far from Delta seat upgrades and the 25k points on the way from college. :)

UPS Gregg
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Postby UPS Gregg » Sat Oct 13, 2012 8:19 pm

Rory wrote:yeah i think amex needs to rethink who is getting platinum cards. Its well and good that youre excited to have one but it was never designed around someone with your lifestyle and career. Just seems like all the prestige/exclusivity is going out of it...

go to amex's website and see what youre NPSL is cleared to, that will be interesting


I think Amex woke up and realized that expanding their membership was going to result in bigger profits. They gave up some of the prestige and exclusivity to increase their bottom line. It was a smart move. At some point they must have realized that its just a credit card and not a country club membership. There's still some prestige and exclusivity associated with the platinum because of the high annual fee and because the general public still thinks its geared towards the super rich.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

Rory
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Postby Rory » Sat Oct 13, 2012 11:52 pm

UPS Gregg wrote:I think Amex woke up and realized that expanding their membership was going to result in bigger profits. They gave up some of the prestige and exclusivity to increase their bottom line. It was a smart move. At some point they must have realized that its just a credit card and not a country club membership. There's still some prestige and exclusivity associated with the platinum because of the high annual fee and because the general public still thinks its geared towards the super rich.


If the number one thing for amex is bigger profits then appealing to lower income/lower class people is the worst thing they can do. The reason that many businesses dont accept amex is because of their high swipe fees, based on the fact that amex members, on average, spend more than visa and mastercard users. If they keep allowing individuals who dont spend any more than they would using a visa/mastercard then they cant justify their high swipe fees to the merchants that allow their use. This could result in a boycott of the cards and force them to lower their swipe fees DRASTICALLY reducing their profits exponentially. Your argument is sadly mistaken, they need to adopt a survival strategy i agree so that they can weather the economic storm in america, but opening up the higher echelons of the brand to "nobodies" isnt going to help them in the long run.

People who "justify" the annual fee are very mistaken, the centurion is something you have to justify, if you notice a dip in your savings due to an annual fee for something to use to spend money you shouldnt be using that card, plain and simple. Centurion users wont cry over 2,500 a year or whatever it is, Srt8 prolly blows that on his hair every couple months if not a new watch/pen. OP just spent $450 for a piece of plastic to prove to his friend he could get it or simple for the prestige of the thing. He is the essence of who shouldnt be getting this card. Even if he can somehow adopt a strategy to make back the $450 this year, what about every following year. I wouldnt want to be spending $4,500 over ten years only to have a piece of plastic to show for it.

In the end i guess its however you chose to live your life. I would just suggest everyone budgets themselves wisely. If OP happened to lose his job you can bet he would drop this card. Im starting to sound like an a$$ so im done here

PS OP, you can try the NPSL check on amex as many times as you like, it does not adversely affect anything on your account or credit score
Amex Zync - NPSL (Cleared up to 25k)

Amex BCE - 12000 limit

Amex BCP - 4200 limit

FIA Rewards Amex- 3500 limit

Chase Freedom - 2000 limit

Chase Slate - 2000 Limit

BoA Cash Rewards Privileges- 3000 limit

Barclaycard Rewards MC - 3000 limit

Discover IT- 3500 limit

Marriott PR- 5000 limit

21 years old with alot of life to spend ;)

Its not about the ending, its about the journey,

just as long as the ending is just as good :cool:

UPS Gregg
Platinum Member
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Joined: Sun Jan 01, 2012 4:14 pm
Location: Tennessee

Postby UPS Gregg » Sun Oct 14, 2012 10:32 am

Rory wrote:If the number one thing for amex is bigger profits then appealing to lower income/lower class people is the worst thing they can do. The reason that many businesses dont accept amex is because of their high swipe fees, based on the fact that amex members, on average, spend more than visa and mastercard users. If they keep allowing individuals who dont spend any more than they would using a visa/mastercard then they cant justify their high swipe fees to the merchants that allow their use. This could result in a boycott of the cards and force them to lower their swipe fees DRASTICALLY reducing their profits exponentially. Your argument is sadly mistaken, they need to adopt a survival strategy i agree so that they can weather the economic storm in america, but opening up the higher echelons of the brand to "nobodies" isnt going to help them in the long run.

People who "justify" the annual fee are very mistaken, the centurion is something you have to justify, if you notice a dip in your savings due to an annual fee for something to use to spend money you shouldnt be using that card, plain and simple. Centurion users wont cry over 2,500 a year or whatever it is, Srt8 prolly blows that on his hair every couple months if not a new watch/pen. OP just spent $450 for a piece of plastic to prove to his friend he could get it or simple for the prestige of the thing. He is the essence of who shouldnt be getting this card. Even if he can somehow adopt a strategy to make back the $450 this year, what about every following year. I wouldnt want to be spending $4,500 over ten years only to have a piece of plastic to show for it.

In the end i guess its however you chose to live your life. I would just suggest everyone budgets themselves wisely. If OP happened to lose his job you can bet he would drop this card. Im starting to sound like an a$$ so im done here

PS OP, you can try the NPSL check on amex as many times as you like, it does not adversely affect anything on your account or credit score


Oh I'm sure Amex knew exactly what the gap was between their swipe fees and the average purchase amount by their card holders. They must have realized they had enough wiggle room there to risk expanding their Platinum approvals. I just figured they'd stick with approving people with excellent credit scores and histories.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

jlam572
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Postby jlam572 » Sun Oct 14, 2012 12:31 pm

I agree that one shouldnt have to justify any card with an annual fee that high, but if one is already doing the kind of spending that would give rewards back much higher than the cost of the annual fee then why bash them for it? Its like people who buy a new car and take on a 800 dollar a month car payment when their used car is perfectly fine and paid off. They justify the expense somehow, no need to give them the third degree.
American Express Platinum

Chase Sapphire Preferred

Hawaiian Airlines BOH MC

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