Steps to get centurion Amex

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Aug 06, 2014 1:02 pm

Darrvao777 wrote:Quick question about the invitation for centurion: you have to be a platinum cardholder first?

And you have to put all your spend on it?


I doubt anyone will be able to give you a definitive answer to the first question. I wouldn't be at all shocked if they invited someone who, for example, was spending $500k per year on a PRG. But how many people would spend $500k and not already have a platinum?

It's hard to spend that kind of money on boring consumer stuff like gas, groceries, a modest car, etc. Most people spending like that have a lot of their money going to luxury items and travel. Or someone can have a lot of expenses related to their work.

The point being - some people like the Platinum mainly for practical travel benefits, and others get it more as a status symbol. I just have a hard time picturing someone who spends that much money and doesn't fall into one of those two categories (and therefore would already have a Platinum). There may be quite a few 'modest multimillionaires' who just don't like to pay annual fees and don't travel a lot - but they may prefer to save rather than spend.

An interesting 'test case' could be a $100M lottery winner who goes from spending maybe $15k on a credit card per year to $1M+ while never having an account with Amex. Would Amex invite a person who has never had a card with them to have their top luxury card if it meant that would make $30,000 or so per year in swipe fees? I don't know but I'm curious.
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Jeeders
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Postby Jeeders » Wed Aug 06, 2014 6:10 pm

Actually a great question.


CarefulBuilder14 wrote:An interesting 'test case' could be a $100M lottery winner who goes from spending maybe $15k on a credit card per year to $1M+ while never having an account with Amex. Would Amex invite a person who has never had a card with them to have their top luxury card if it meant that would make $30,000 or so per year in swipe fees? I don't know but I'm curious.
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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Aug 06, 2014 10:02 pm

Jeeders wrote:Actually a great question.


My hypothetical musing got someone to register just to comment on it. I'm honored. :)
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Omarperez48
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Postby Omarperez48 » Wed Aug 06, 2014 11:34 pm

Well thank you guys for all the feedback, well yeah I do make that much at 23 I'm in the car business as a finance manager. I must be one of the youngest one in all of Southern California if not the youngest. Well as far as the card I guess I will not be getting a centurion anytime soon. I've only spent 25k since may I don't think I can spend that a month. That'll wreck my bank account. I guess for now I'll stick to my premier rewards.
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Postby MemberSince99 » Thu Aug 07, 2014 5:42 am

But the good thing about your job is, you are the profit center for your dealership. The average rube comes in, beats you down on price using your competitor, and your sales guy puts up a good fight and finally bends if he has to, making a show of how great a deal the guy got. Then he's brought into your office and the REAL fight for the dollars begins. I mean it's gotta be great when you can sell a wax job, albeit a really good one, that costs 20 bucks for 500 - that's a higher markup than bars get. And that's only just the beginning - money is there for financing, warranties, window etching, spraying Scotchguard on the seats I mean fabric protection, and on and on and on. All told that POTENTIAL profit could very well get you into Centurion territory. I learned a while back that the battle with the sales people is the easy part, it's when you walk into the finance office you'd better be on your game.


Personally I respect these guys - they do this for a living every day and I'm not going to ever "beat" them at the game, though the smart ones are happy to let me think I did even though we both know better. But on the other hand, I don't begrudge a profit - I want you guys around after the sale for my next vehicle and service/warranty work etc.


Just kind of interesting that's your field. Good luck with getting your Centurion I hope you get it one day!

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Postby rockyrock » Thu Aug 07, 2014 8:15 am

MemberSince99 wrote:Personally I respect these guys - they do this for a living every day and I'm not going to ever "beat" them at the game, though the smart ones are happy to let me think I did even though we both know better. But on the other hand, I don't begrudge a profit - I want you guys around after the sale for my next vehicle and service/warranty work etc.


Yeah, I didn't know this the first few times I bought a car. I thought I could relax and let my guard down--big mistake. I do like to make those guys sweat a little though, make sure they earn their paycheck. I've negotiated and purchased six new cars since 2002 so I'm well practiced.
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Postby cashinout » Thu Aug 07, 2014 10:13 am

Darrvao777 wrote:Quick question about the invitation for centurion: you have to be a platinum cardholder first?

And you have to put all your spend on it?

Was wondering if people get the bump from the lower charge cards or even the credit cards? Would they look more favorably upon someone with large expenditures across numerous amex cards or enormous luxury spending on the 1 platinum card?

And to the OP if you're still around, 12-15k/month as a 23 year old?? Awesome! What do you do?

Just got through 12+ years of school /training to make that much as a 33 yr old!!


I have the platinum card and my question is if you put all the spend on it wouldn't your credit score lower because these AMEX cards do not report like credit cards it always shows as other and doesn't have a limit so it looks like high utilization or 100% on my credit reports every month even though i pay the bill off. So with that said Amex pulls your spending then your report and that computer might see oh credit score lower utilization high because of their own way of reporting these they need to at least indicate flex spending or No Spending Limit with the credit bureau. I had chase ask me about it when they gave me an increase on my sapphire preferred.
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Jeeders
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Postby Jeeders » Thu Aug 07, 2014 4:52 pm

CarefulBuilder14 wrote:My hypothetical musing got someone to register just to comment on it. I'm honored. :)


You Did.... clap for urself....
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