In a move designed to take attention away from the Chase Sapphire Reserve changes and new Chase Sapphire Reserve business card American Express has announced that it too will be making changes to the American Express personal and business Platinum cards. Unfortunately American Express has given no details on what these changes are outside of the fact that they will be coming in the fall. I suspect that this is because American Express hasn’t actually planned changes as of yet and this is purely in response to the Chase changes.
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Amex: Due to increasing inflation, we have adjusted the annual rate for Platinum to 895.
Wow another AF hike and more coupons. They love milking these “benefits”. Surprised they are pushing the wall this much as their will be a barrier eventually a person says enough is enough with AF increases
They are still searching for that sweet spot.
Maybe give benefits that their target ‘prestige’ audience will be OK with. Not sorry, but Walmart does not scream prestige but lower class and when you give a credit for a subscription, it makes the card look dirty.
How much can we charge for a coupon book before middle class stops paying for the privilege of feeling elite ?
It can probably go up to $1800 per year. $2000 seems to be too excessive.
My wishlist – 1000 usd fee 30 elite night credits marriott, marriot platinum, Hilton diamond, drop airline and entertainment credits, drop saks and up fhr to 400 usd per 6 months or 600 per year.
Yeah, you wish
dream on
“Chase made their premium card offering worse so maybe we can get away with doing the same?”
Amex needs to come up with a Platinum+ card. Make AF $1,500-2,000 but give some true benefits that stand out.
This has been brought up with the executive team and it’s not going to happen. It would undercut the Centurion Card.
The value of the Centurion card is not in benefits or perks, but status, and no card you can readily obtain is going to undercut that.
What does status do for you?
Maybe if the Centurion Card had benefits with an actual wow factor it wouldn’t be such a problem. But look it’s tricky because the platinum card doesn’t really feel all that exclusive with it’s benefits with so many caveats attached to it. You get a couple coupons, Delta club visits a year (WITH DELTA boarding pass, limit 10), Centurion Access (limit 3 hours, not for an arriving flight, only one person unless you spend $70k, blah blah blah), a priority pass that is mediocre and offered by loads of other cards, concierge that’s become largely irrelevant since 4G smartphones became widespread with online reservations and few special connections…
Super coupons
I remember that entertainment coupon book from middle school
Got it every year and saved big $$$.
Bigger than I get from my AMEX. If AMEX had 20% off all my kids’ back to school shopping? Easy winner.
Done.
Amex Platinum+
$1995 annual fee
SoulCycle limit has increased from 15 bikes per year to 150 bikes per year.
AmEx adding Spirit Airlines elite status with $75k spend to compete with Chase’s Southwest partnership
amex could change the game if they increase AF to something crazy like $1500, but just purely focused on few heavy hitter benefits. better bonus cats. upgrade lounge – more space. better service. bring back steak. include coffee shop, dessert shop, arrival access etc. travel insurance. i dont think we need more fragmented credits. amex could def be a leader if it wanted.
So an AF increase is on the way.
Can anyone name a time that a card “refreshed” and the annual fee went down? Things only go up up up.
US Bank Altitude Connect
Sorry, tarrifs. Aluminium costs a lot to make for tinfoil hat holders