AmEx Platinum Fee Increase

[hl0m4n]

amex has increased platinum membership prices again to $695/year . full details and perk updates: https://thepointsguy.com/news/amex-p...-2021-refresh/

2017: $450
2018 - 2021: $550
2021 - Onward: $695

amex should have kept the platinum at $550 and just introduce another tier card like amex carbon that slots between platinum and centurion. put an annual fee of $1,000 and change the airline credit to include ticket charges and change points perks to match chase reserve (x3-1). design a sleek black card with carbon print and a target to millennials, it would be a great hit.

i would pay for such card above. the new annual fee is inching me closer to just downgrading to gold as i don't use much of the new benefits.

the digital entertainment credit is such a downgrade too from what it was before which included netflix, hbo, and disney plus memberships. now its just down to audible, ny times, siriusxm, and peacock....

for now, the $200 hotel credit will offset the annual increase for me so i will keep; but seriously if they plan on increasing the fee again, it better come with better perks or just create a new tier as i mention above.

[VAcurler]

For years I've had this and the CSR. Being allowed to have 2 guests on my CSR priority pass paid for itself but as the prices go up and the services get more restrictive it might be time to prune one in 2022. As of February 2023 Centurion Lounges no longer allow free guests so that could be the time to leave.

[hl0m4n]

^ i too have the csr and it has been my default card since it came out. with the new amex increase, we are looking at $1,245/year.

i have a love/hate thing with centurion lounge. i think the lounge itself and the food (pre-covid) was great plus the fully stocked bar was a huge win.

but they are in a few airports; amex knows this which is why they are rebranding escape lounges to grow their locations. however, i recently flew out of jfk and the lounge, its partially open, is not worth it anymore. the good food selection is gone and you only have pre-selecected items available but the bar is open.

from 2023, you are allowed a guest to the centurion lounge but it is $50/$30 kids.

[TiMSport]

In light of how COVID has impacted everything I find it hard to justify these high annual fees from AMEX lately. I have a Delta AMEX Reserve card which had been great when I was frequently traveling but I haven't flown in over a year and the card has lost much of its value IMO. One of the main reasons I have the card is free access to Delta lounges which is a big perk when things are "normal". I've noticed how they've tried to promote the addition of Centurion Lounges which I've personally never even seen before so I doubt that's worth anything, for me at least.

[evil-G-nius]

i didn't see enough of a perk difference between the Gold & Platinum to warrant the cost. I mean the golds $250 a year is already a pain in the ass. I feel like..I'm paying you to use my own money. BUt it is what it is, I love their customer service, I do like the perks when traveling and so on. Just hope the gold annual stays as is

[ASAP]

I dont know about the Amex cards but my CSR pays for itself over and over again.

[Ximian]

To put things in perspective, based on data from a couple of years ago, the "take home pay" per paycheck for the average American is around $850. When things are around that price, I ask myself "Would someone who spent 2 weeks of their life earning this much money think the purchase is stupid?"

The AmEx Platinum with its higher fee is now stupid.

Uber credit? Gross, never use it.
Saks credit? Pass.
Airline fee credit? Used it once because I could, not because I needed to.
Delta SkyClub access? I'm in MSP so they're always packed. Pass.

Centurion Lounges? They're nice (pre-COVID). The one in Vegas always justified the yearly fee for me.
AmEx points? The exchange rate of 10,000 points to $10-$80 is pretty awful as well.

At least in 2020 they made it easy to recover most of the cost of the annual fee, but not anymore. We'll probably go back to only using the CSP for a while.

[BMW F22]

I just wish they would have a main card combining Chase and Amex perks. I would pay up to $1K AF just to get 3-4x in travel, dining out, various credits, lounge/Centurion access, etc. Right now I have CSR (since inception), Amex Platinum, and Amex Gold. I go back and forth but will at some point get rid of one of the Amex cards. CSR has the $300 travel credit a year which lowers their AF quite a bit. Amex’s $200 hotel credit is more specific but not too bad. Overall, it takes more effort to use Amex perks. I must say though, their offers, if taken advantage of, pay for the card itself. For example, in the last 6 months I have used the $100 Home Depot and $100 Best Buy credit (also the $100 SAKS).

[evil-G-nius]

Originally Posted by BMW F22

I just wish they would have a main card combining Chase and Amex perks. I would pay up to $1K AF just to get 3-4x in travel, dining out, various credits, lounge/Centurion access, etc. Right now I have CSR (since inception), Amex Platinum, and Amex Gold. I go back and forth but will at some point get rid of one of the Amex cards. CSR has the $300 travel credit a year which lowers their AF quite a bit. Amex’s $200 hotel credit is more specific but not too bad. Overall, it takes more effort to use Amex perks. I must say though, their offers, if taken advantage of, pay for the card itself. For example, in the last 6 months I have used the $100 Home Depot and $100 Best Buy credit (also the $100 SAKS).

For me, the $100 airline credit is a perk very much worth the annual fee. It gives me back up to 100 buck for any food and drink...including booze...that I buy on board. Also there is money back for eating at restaurants in the US as well. I forget how much though seeing as its been a while since I have eaten in a restaurant. Then of course there are the list of discounts at various stores & services refreshed each month. OH and the free purchase protection is a plus.

[Burnsey]

UK member who went green to gold to platinum and back to green again.

Travel insurance and lounge access was my reason for the eventual upgrade and without that during Covid, saw no reason to maintain the cost of the card.

Will I go back - probably not. I've realised it just simply doesn't offer enough to warrant the card fee anymore.

[cooolone2]

Again and again I've been offered the upgrades and have chosen to pass once I've looked over the cost/benefit specifics. I'm not a frequent traveler and the trips I do take are far enough in between to not justify the upgrade. Gold is good enough and pays for itself. Minor perks of course, but it's ok (for me). I read extensively and if a frequent traveler, there are better returns on other cards, especially that allow you to convert your accumulated points!

I do enjoy the "charge" card as opposed to a "credit" card, and have yet to hit my maximum or been denied a charge level as well. Is convenient... I cut up all my credit cards some 20 years ago, never got a single one again. AMEX was needed because even getting a hotel room absent a CC was problematic, seems they don't like cash anymore, lol.

Anyways...

[zx10guy]

I've been offered these various cards with perks and an annual fee. I've never found them to be of any use to me as I don't do much personal travel. The travel I did do was for work and I had to use my corporate card.

That said, there was a mention above about purchase protection with their AMEX card. Wanted to say, I also have purchase protection on my AMEX card (which I think is the Blue card). But I don't pay an annual fee and I get cash back (although it's not a huge amount). I've even used the purchase protection twice. Once was for a product that I accidentally damaged. AMEX covered it no questions asked. I also had a very expensive printer require a new mainboard get covered by AMEX to the tune of about $800 to $900. Whenever I purchase jewelry or electronics, I use my AMEX card for the previous stated reasons.

[frchdragon]

I love my AMEX platinum, and in Canada we don't have many choices for high end cards.
I decided to ask my company to subsidize the cost of my platinum.
My Business Platinum is the primary, and everyone else has a gold attached to my platinum.
The cost of a business platinum is less and I get the points :-)
During covid, the perks received paid for the fee of the Business platinum. (Credit shipping, Credit Dell purchase, credit on phone bills...)

I can't wait for the world to open, Auditing Asia at 2AM isn't fun.

[upstatedoc]

So Amex platinum is more for travelers? Ok, don't need one.

[TiMSport]

Originally Posted by upstatedoc

So Amex platinum is more for travelers? Ok, don't need one.

No, unless you have an AMEX platinum that is tied in with an airline like Delta for example.

[MKSixer]

The concierge service makes is worth it for me. It makes life easy and they are consistently anticipating needs and filling service gaps by other providers.

The lounges, pre-covid were awesome but I haven't traveled much to see the post-covid levels of service but if it's like many things, I'm not hopeful.

As far as airlines go, whomever has the best price on a first-class ticket...I'm pretty much done with the travel perks racket.

[upstatedoc]

Originally Posted by MKSixer

The concierge service makes is worth it for me. It makes life easy and they are consistently anticipating needs and filling service gaps by other providers.

The lounges, pre-covid were awesome but I haven't traveled much to see the post-covid levels of service but if it's like many things, I'm not hopeful.

As far as airlines go, whomever has the best price on a first-class ticket...I'm pretty much done with the travel perks racket.

No post in the dating thread?

[MKSixer]

Originally Posted by upstatedoc

No post in the dating thread?

I'll get there soon. First day back after a while. Life's been pretty busy as of late.

[TrevorM3]

hmm, thiis dissapointing to hear.

[TiMSport]

If there's one thing good about AMEX it's their customer service. Top notch.

[NEfan508]

we fly economy on domestic usually BOS/FLL every season, not loyal to any carrier or south FL airport just a decent deal but Business on longer or international flights with REAL lounge access included, no AMEX lounge @ Logan (as of now)

Canceling my Plat when the Annual Fee comes in Maybe they will offer me a juicy retention offer?!? Another x amount of points for a decent minimum spend for keeping the card? If not thanks for the memories, to many of my cards have overlapping benefits

We the Millers are chase point whores, freedom and SR majority spend, I got the ritz grandfathered with unlimited PP lounge guests, yes thats me in Terminal C lounge with 8 of my hoodlum family members, warm beers/low shelf liquor and school sized cheese squares are plenty…

[gatorfast]

I still find the Amex blue cash preferred the best all around. Low annual fee and 6% groceries and 3% gas cash back is huge.