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Mogul of Pineapples · 02:06 PM

The Fuzz, do you know if Amex has any new card in the works that is above the Centurion level? Now that the Centurion has gotten a bit more common I've heard rumors that there will be a new premium card that will be even above the Centurion level. Is this true?

The Fuzz · 07:04 AM

Quote:

Originally Posted by Mogul of Pineapples

The Fuzz, do you know if Amex has any new card in the works that is above the Centurion level? Now that the Centurion has gotten a bit more common I've heard rumors that there will be a new premium card that will be even above the Centurion level. Is this true?

I don't think it is possible to get something above the Centurion card. If you know the benefits of that thing then it becomes pretty clear that you can't do much to top it. I have heard that they are going to go real invitation only for it. Right now we don't mail anything out to invite people to appy for the Centurion card. You call up and we evaluate if you qualify and then we 'invite' you. Soon they won't even let you request to apply for it unless you have an invitation. I think they are trying to thin out the ranks so it remains an elite product. There are some pretty uninformed people running around spreading rumors though. Before the Plum card was released I heard people talking about it like it was going to be the next black card. Uh... not quite. lol

What is the market value of a centurion card these days anyway. I've never thought about putting dummy cards on ebay before.

Cucumber · 12:31 PM

That's good they need to thin out the number of people with Centurion cards!!! I know here in the LA area it seems like EVERYONE has a Centurion card..... way too over-saturated IMHO.

I hear ya on the rumors people say all kinds of stuff when they have no clue what they are talking about. Do you know about that "white card" that was the Stratus Rewards Visa? I remember people saying that was above and beyond the Centurion card.... YEAH RIGHT!

That's why the crap Stratus card no longer exists because it was a knockoff.

The Fuzz · 12:48 PM

I've heard people say that the Red card in the UK was better than the Centurion card simply because they couldn't find any information on it and they never saw one. Hmmmm... Just because nobody with a red AMEX card shops at the WalMart they work at doesn't mean it is an elite card that is the best of the best. lol

There have been rumors for a couple years that they were going to make the spend requirement of $250,000 a yearly requirement in order to keep the card. There are too many cardmembers who do what it takes to get the black card and then they stop spending. It costs over $30K a year just to maintain the benefits of that card, so we would really prefer they be spending on it rather than sitting on it and just flashing it to people on planes or to cut in line.

sputNick · 02:31 PM

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?

Mogul of Pineapples · 09:38 PM

I would have to agree it will be best to limit the number of Centurion cards in circulation. American Express did an excellent job with this until very recently, maybe the last 2 or 3 years, and then they became a bit too common.

$30k is pretty high. Do you know how the costs roughly break down? From what I remember the concierge service is outsourced to a separate company but that didn't cost much from what I've heard. I'm blanking on the name of the company but I know they do concierge for a number of similar high end companies.

The Fuzz · 09:29 AM

Quote:

Originally Posted by sputNick

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.

Cucumber · 01:01 PM

Ok what I really want to know is what was the $26 mil charge someone swiped on their black card?

AnthonyBarone · 05:53 PM

What Amex oughta do is not give black cards to all these wannabe spenders if it's costing them $30,000 a card. A lot of folks are signing up for these black cards that are making 200 or 300 thousand a year because they like the prestige that comes with this thing. That ain't no income to sneeze at but they oughta up the requirement for the black card and leave it to the tip top spenders. Platinum card is just fine for everyone else.

Mogul of Pineapples · 01:41 PM

I now remembered the name of Amex concierge company - Circles. Do they handle concierge for both the Platinum and Centurion cards? I used concierge on a friend's Platinum before and I was disappointed with having to go through the typical number prompt menu on the concierge's 800 number to speak to a real person. I think they should put a live operator there to take calls, starting a phone call off with a robot is like starting your day off by getting up on the wrong side of the bed.... whatever that phrase is supposed to mean, but you know what I'm saying.

That statistic about the top 6% generates 60% of American Express revenue is interesting. About the cutbacks I noticed they had got rid of the IN:LA, IN:NYC, IN:Chicago cards recently. I understand why they did that based on the cards having a low marketshare, but I think they could have been a big hit if they were marketed a little different. For example, the reason I never got a IN:LA card is because from what I read up on it, the rewards weren't really different or specific to my location. I think if they tailored it to almost 100% city specific rewards that you can't buy anywhere people would have had more incentive to get it over the Blue card. Like for Los Angeles they could have geared their rewards to entertainment and special deals with hot local restaurants.

02:06 PM	#21
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	The Fuzz, do you know if Amex has any new card in the works that is above the Centurion level? Now that the Centurion has gotten a bit more common I've heard rumors that there will be a new premium card that will be even above the Centurion level. Is this true? __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

12:31 PM	#23
Cucumber Centurion Member Join Date: Apr 2008 Location: Zuma Posts: 453	That's good they need to thin out the number of people with Centurion cards!!! I know here in the LA area it seems like EVERYONE has a Centurion card..... way too over-saturated IMHO. I hear ya on the rumors people say all kinds of stuff when they have no clue what they are talking about. Do you know about that "white card" that was the Stratus Rewards Visa? I remember people saying that was above and beyond the Centurion card.... YEAH RIGHT! That's why the crap Stratus card no longer exists because it was a knockoff. Last edited by Cucumber : 10-30-2008 at 12:34 PM.

09:38 PM	#26
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	I would have to agree it will be best to limit the number of Centurion cards in circulation. American Express did an excellent job with this until very recently, maybe the last 2 or 3 years, and then they became a bit too common. $30k is pretty high. Do you know how the costs roughly break down? From what I remember the concierge service is outsourced to a separate company but that didn't cost much from what I've heard. I'm blanking on the name of the company but I know they do concierge for a number of similar high end companies. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

01:41 PM	#30
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	I now remembered the name of Amex concierge company - Circles. Do they handle concierge for both the Platinum and Centurion cards? I used concierge on a friend's Platinum before and I was disappointed with having to go through the typical number prompt menu on the concierge's 800 number to speak to a real person. I think they should put a live operator there to take calls, starting a phone call off with a robot is like starting your day off by getting up on the wrong side of the bed.... whatever that phrase is supposed to mean, but you know what I'm saying. That statistic about the top 6% generates 60% of American Express revenue is interesting. About the cutbacks I noticed they had got rid of the IN:LA, IN:NYC, IN:Chicago cards recently. I understand why they did that based on the cards having a low marketshare, but I think they could have been a big hit if they were marketed a little different. For example, the reason I never got a IN:LA card is because from what I read up on it, the rewards weren't really different or specific to my location. I think if they tailored it to almost 100% city specific rewards that you can't buy anywhere people would have had more incentive to get it over the Blue card. Like for Los Angeles they could have geared their rewards to entertainment and special deals with hot local restaurants. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

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12:48 PM	#24
The Fuzz Centurion Member Join Date: Oct 2008 Location: ..right behind you! Posts: 101	I've heard people say that the Red card in the UK was better than the Centurion card simply because they couldn't find any information on it and they never saw one. Hmmmm... Just because nobody with a red AMEX card shops at the WalMart they work at doesn't mean it is an elite card that is the best of the best. lol There have been rumors for a couple years that they were going to make the spend requirement of $250,000 a yearly requirement in order to keep the card. There are too many cardmembers who do what it takes to get the black card and then they stop spending. It costs over $30K a year just to maintain the benefits of that card, so we would really prefer they be spending on it rather than sitting on it and just flashing it to people on planes or to cut in line.

02:31 PM	#25
sputNick Gold Member Join Date: Oct 2008 Location: Midwest Posts: 41	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?

01:01 PM	#28
Cucumber Centurion Member Join Date: Apr 2008 Location: Zuma Posts: 453	Ok what I really want to know is what was the $26 mil charge someone swiped on their black card?

05:53 PM	#29
AnthonyBarone Centurion Member Join Date: Apr 2008 Location: White Plains, NY Posts: 128	What Amex oughta do is not give black cards to all these wannabe spenders if it's costing them $30,000 a card. A lot of folks are signing up for these black cards that are making 200 or 300 thousand a year because they like the prestige that comes with this thing. That ain't no income to sneeze at but they oughta up the requirement for the black card and leave it to the tip top spenders. Platinum card is just fine for everyone else.