sputNick wrote:If the black card costs Amex 30k a year why do they do it? Wouldn't that mean they are losing money on a lot of them?
They turn a decent profit on these cards. You have to consider that the average Centurion account is spending several million dollars a year on the card. In 2006 alone we logged a single charge for $26 million dollars on a black card. These people spend lots of money. Some of the things my wife has told me about their travel habits is pretty facinating. I'm sure you've seen 'The fabulous life of..." series on VH1. The people spending $80,000 a day on vacation are the ones packing around black cards. They put their entorage payroll on it, they book their whole concert tour on it, they put all of their business expenses on it... The $30 thousand that we spend to keep them happy is a small investment in what they are willing to spend on it to have the status and rewards.
If you have seen the financial news lately then you'll probably find the announcement that our CEO put out yesterday and another one just now regarding cutbacks and changes in the organization. We have phased out a couple of cards in the last couple months that weren't incredibly popular or necessary, but I don't see them making any significant changes to the Centurion card structure. These are the people who keep AMEX afloat. The top 6% of our cardmembers make up 60% of the spend that happens on all cards. You have to keep those people incentified to carry and use the card.
edit after gathering more information: Concierge is in a couple different places, actually. There is one I know of in Toronto, but they have told me they are in multiple places. I don't know how much information they want out there on this kind of thing, but I can say that the company we use is named after a geometric shape and they do handle concierge services for other companies as well as AMEX.