What a weird email to get.
Let me begin by saying this - in no way is this a brag, as I very clearly do not have the buying power nor the statute to ever qualify for the Black. If getting a Centurion Card was a goal of mine, it certainly wouldn't be something I'd think about until age 45-50. I literally could not give less of a shit about the 'status' of cards and have had my fair share of overhearing our interns slap down their Golds or CSPs, trying to impress our sweet IR girl who could not give less of a fuck - all while thinking how silly it is to brag about a piece of metal.
My credit card story is funny, especially considering how far away it originated from the email I received this afternoon. I first discovered the marvelous credit card around age 19, quickly realizing it was an easy glitch for infinite money. I'm sure you can guess how that went.
Got my accounts closed, creditors came calling, and rather than learning this in my entry-level accounting class, I learned the hard way what APR meant. I could go back and do the math, but honestly, it makes me sick to my stomach to think about the thousands of dollars I pissed away in interest, trying to redo my mistakes. I know that hindsight is 20/20 and I am WAY out of that hole now, but it's just indicative of a low point in my life.
Anyways, flash forward to today. Got an email from their AXP team telling me I had qualified for a new status, clicked the link, and some fancy animation appeared with the card showing up. Thought it was one hell of a scam at first, as I've interacted w/ some folks who do have the Black Card and they got something completely different, but I verified the email address and the link took me to the authenticated portal inside my current Amex account. It is in fact the real deal.
Now, here's the double-sided kicker:
- I have a pretty good understanding (especially now) of WHO qualifies for this card. It ain't me.
- Honestly, I have no interest in paying $5,000/yr for this thing.
The relative understanding based on limited online research and current Centurion Card holders who I've talked to today is that the bare minimum for qualification is putting down at LEAST $275K/yr on your Plat, a minimum of five years running. Not cumulative total, just the Plat. Even if you meet this mark, Amex has to select you for it (you're unable to apply for it yourself) and they usually favor those who have been their clients for 10+ years, accumulating millions of points over time. I'm just damn confused about why they did this and am leaning toward a mistake.
Oh well. I guess it's 'cool' in a way, but again - I really have no interest in the thing. Figured I would share to see if any other monkeys can shed some light; do we have any Centurion Card holders on here? If you would prefer not to comment, feel free to PM me. Interested to hear about your process so I can kind of scope this out. I've had my Gold for about five years, my Plat for three. Neither of them have had enough dollars spent to justify this. Maybe I'm overthinking it.
What a day!
okay
Sir… would you like to make it a combo and add fries and a beverage? There is a long line behind you
Ha! Maybe this was one of my more... rambling postings. Honestly, I was just confused about the thing. Figured that WSO would be a good spot to see if anyone else had a similar issue, I know there are some Black Card holders on this site somewhere! Hope that folks know I am the last person to flex a credit card and am not trying to act snide.
You’re good. If I recall, I think a coworker of mine who was clearing ~$90k a year got an invite in the mail. I suspected it was a similar product to the one we are discussing. Anyways, he brought the mailer in and was flexing how he was invited to get the black card as if it was an invite to the Skull and Bones society or something.
Can you elaborate on what the perks of this card are? Surely there have to be some beyond prestige...
I'd say the 'perks' are generally aligned toward someone who doesn't even think about a $5K/yr fee. AKA, not me. Forbes said it best - "if you are reading a review of the Centurion Card from American Express, it’s probably not for you."
But for specifics, seems a TON of extremely high-end travel upgrades and benefits catered to those who really want to have a next-level experience. It seems to be sort of a hybrid group between those who can't quite fly private, but at the same time look down on people in business class. Some stuff I saw included reserved lounge access, greeters that will walk you to and from gates, private concierge teams who plan your travel, all that stuff. You get automatic elevation to the highest levels of travel, stuff like Delta Platinum status, and the highest level you can go at Marriott/IHG. There's also upgrades in rental cars, the highest status levels at things like Avis and Hertz.
Then there's some random stuff, like the Equinox membership. To be honest, if you qualify for this card I doubt you go to a gym that has other people in it. I also doubt you use things like Avis for car rentals and book your hotels in a Marriott rather than the RC or Saunder. It just seems like the target market isn't exactly there - the people who could really benefit from it don't qualify, and the people who do qualify already have higher options at their disposal. Just seems weird to me.
Regardless, not like I'm gonna be accepting it. Hope this post didn't come across as snide, I was honestly wondering if other people here got the email because I'm still classifying it as a mistake on Amex's end. LOL.
If the value of these things eats up a decent chunk of the $5k (you didn't elaborate on the Equinox thing, but a membership is over $3k a year in NYC), maybe consider it.
Like you, I have zero interest in what I call "prestige scams". The pattern is usually as follows. First come up something very exclusive (e.g. Soho house a long time ago). Then wait while a mystique grows around the exclusive thing. Then find some people (usually yuppies) who are very easily convinced of how special they are. Let them in . . they won't find it odd because they've spent their whole life being told by their parents how exceptional they are . . and enjoy massive cash flow until one day when everyone stops to realize that the exclusivity is gone.
Examples of this: airline lounges, Soho house (half my friends are members now), and a lot of credit cards and travel status programs.
So if Amex is pulling one of those scams here, certainly stay away. But it doesn't seem like they are. For example the $275k spend number is quite a bit higher than what I'd heard 5-10 years ago. Plus I'm not hearing about this offer going out to people, and I feel like I have the sort of circle that catches these things (again these are the sort of people who join Soho house the moment standards are loosened).
My guess is they're trying to identify potential future black card holders based on certain factors (job in PE, or maybe certain spend categories) and grab them early.
What is Saunder?
Former credit card churner from my consulting days.
I worked with people who had elite prestigious cards and they’d brag about them in a way someone brags about the size of their c0ck. Most people don’t care and we all know (or should know) that size doesn’t matter.
As I understand it, these cards are for the big dicks of this world who need $25k to fill up their yacht in different local currencies around the world with ease. Someone like me, even with my limit above that, will get declined or at least a call to ensure it’s not fraud.
I shuffle a number of cards in order to yield rewards for gas, groceries, and dining. These include chase, discover, and citi. Periodically BOA or Amex come out for travel perks. I resent paying annual fees so most of my cards are the cheap plastic ones versus the bold brass you’re talking about there. If this card yields some great rewards, then it’s worth considering. However, even a 5% cash back on dining/gas/groceries would not likely be worth it as you’d need to spend $100k a year just on those items to break even.
Maybe I’m too practical and I’m missing the appeal of slapping down a brass brick like this at a bar to order bottle service, but I just don’t see the value for the cost.
Good analysis, nice to get some input from someone who has also played the CC game. I do it when I can, but try not to obsess over it.
Long story short, there's no way I'm accepting this thing. Similar to you, I also dislike annual fees, but the Gold + Plat combo I have has benefitted me so well in prior years that it becomes worth it. However, all-in those are both around $900/yr. Multiplying that by five is just not something I am going to entertain, but I figured I'd be crazy if I didn't at least try to explore it.
Seems like the Black is really a status thing more than anything else. I'll always strive for functionality over aesthetics, so easy choice. Thanks for the comment.
ONLY $25k?! IN TODAY'S PRICING?! Only half-joking because I've certainly seen those sized fuel bills for boats before, and then burned through in one weekend in order to win the Poker Run (Fountain Racing twin hull 47' with triple Merlin built Mercury 612ci 1300hp engines pushing you to 113mph on the water will tend to do that).
I could add it’s a clear sign of a coming recession when WSO users (sans APAE) are getting invites to this card.
Sarcasm doesn’t usually transfer well online.
I believe you can actually 'request' an invitation now - which just feels like an invitation for someone at AMEX to review and laugh at my account and move on to other things. Either way - pretty wild to get one.
Add in the $10k a year up front - it could be worth it, if you travel a ton and value the status it gives you. I recall you getting high level status at all the major hotels, Delta, probably others as well as an equinox membership (or something like that) - every once in awhile I stalk those credit card sites, so I probably missed a ton of other things.
The concierge was always what I wondered about - stories of calling for reservations, last minute items, etc. Basically an outsourced assistant. I'd love to just hear from someone directly, i.e. you, whether it really is amazing!
It's basically $15k to see what the 'ultimate' card looks like - I'd have to assume they'd look at the spend, and revoke after a year (could be terribly mistaken). I probably break even on my Platinum card every year - with the most value when I'm traveling a lot through the lounge network, which is the best IMO in most cases.
Interesting, I did just see they had the option to apply. This whole thing is just odd, I can't really wrap my head around it.
The concierge is definitely fascinating, to say the least. I've been reading up on it throughout the morning when I get a couple of minutes of free time. This is just one of those things I feel like if I was gifted it I'd love it more than anything, but in no way would put forth the required money for. I feel like even if I got it for free it'd be the whole induced demand concept - I'd still end up paying more money since I'd feel the need to unconsciously 'use up' all the perks and end up blowing a bonus on a vacation. Would be cool, just wish it was more practical.
I will say that this whole thing has got me wondering if I should open the Delta Medallion card from Amex. I've had a SkyMiles account for years and I'm currently at the Silver status - mostly by just charging business flights to my personal Plat and then getting the reimbursement from the company that way. Maybe getting the physical card would help boost me up, but I really try to avoid just opening cards necessarily. Will do some research and see!
Maybe they are trying to get more black card customers? I've heard that over the years the Amex platinum/gold has been oversaturated and easier to get then in the past. There's also a chance this was sent to you in mistake or if you actually apply you would get denied, but who knows. I don't see the point of it for the average salary man unless you're raking in 7 figures.
Can't comment on the notion of getting more Centurion Card holders, but can definitely agree with you that the number of Gold and Plat users has SKYROCKETED in recent years. I think I got a Gold just a smidge before the big buzz happened - let me just say that Amex's marketing strategy is genius here, convincing a bunch of 23 y/o techies to open a $700/yr annual card with credit lines just so they can wait in line for 45 minutes to get into an airport lounge twice a year.
I've been to a couple of Centurion lounges, they're pretty good but I think I got lucky with wait times. The worst experience was with the BOS one a couple of years ago, I had just gotten the Plat and was all giddy about it n' shit. Was like a 60 min wait, shitty coffee and dingy little area.
The lounge has switched roles with the airport bar. These days, the poor people wait in line for their free (with card) lounge access while those who can afford a meal & drink at the standard bar near the gate live the high life.
I prefer the term African American Express
Ever since Apple Pay, my primary card is the ultra practical Chase Freedom Unlimited. No annual fee, generous credit limit ($50K) and pretty good cash back (at least 1.5% back on everything, more on certain catagories).
Do you transfer the Freedom points to a Sapphire Reserve to get the +50% value in travel? On it's own, I didn't think the Freedom had that benefit.
You're right, last time I redeemed, I had an active CSR.
That's the key, CSR to get 3% back on travel and food, CFU for 1.5% back on everything else, 1.5x redemption for travel through the CSR, which means 4.5% back on travel/food and 2.25% on everything else.
The AF for the CSR is $550, but with the $300 travel credit it's basically $250 (and the travel credit is very broad in its categories, for example Ubers and parking lots both count), and after you take into account the signing bonus (60k point right now, or $900, which pays you back for about 3.5 years of holding the card) and other perks, like DashPass, Lyft Pink or whatever it's called, and others, I find it totally worth it.
Plus the customer service is great, I once had an issue with my flight and I got my hotel, food and taxis all covered under the travel insurance, which came to about $400.
Platinum isn’t a scam at all if you travel even a moderate amount, but the lounges straight up suck now.
Getting a little easier. Still black box on what actual requirements are. But funny, you can now “apply” for it or at least I guess ping them to take a look at your account. Google it. There’s legit a link now
The concierge used to be helpful, but it's gotten watered down now.
It used to be that Amex had block reservations on tables at restaurants hard to get into ... seats in the very front rows of Broadway, major sporting, and cultural events ... and private events with luminaries or celebrities-in-their-field (Jean-Georges Vongerichten, Aldo Sohm, Joshua Bell, and so on) and you could call in and get them, or if they knew your taste, they'd call you and offer it.
Today there are so many 'premier' cards that Ticketmaster has five active pre-sales for the Beyonce tour, three of which are different 'Citi Presale', one of which is the artist's membership program, and the last of which is some random corporate sponsor like Gatorade or whatever ... Broadway isn't reserving seats because Centurion isn't the only game in town any more ... and the tech wave after the financial crisis brought Opentable, Resy, Tock and everything else that made it way easier for the average Joe and the exceptionally-wealthy Joe alike to get seats at the restaurant on their own.
As you point out, the offers aren't compelling. What good is a free add-on at Marriott Bonvoy?
Couple those points with the fact that there are private concierge services that do an infinitely better job getting you insane access to crazy cool stuff, and the card basically exists as a hollow marker of yesteryear's status game.
It's probably helpful if you're someone who only works and doesn't stay on top of interesting things yourself, but if you have your own 'sourcing' or awareness channels, for lack of a better term, it doesn't add much.
Odio ipsam expedita sequi deleniti. Eligendi tempore earum iure placeat. Voluptatem in aspernatur adipisci odio. Rerum repellat soluta laboriosam harum ut delectus.
Illum repudiandae ipsum odit molestiae consequatur. Eaque accusamus fuga voluptatem vel dolore porro dolores. Necessitatibus voluptatem velit quae placeat eum excepturi.
Voluptatem porro cumque dolore est ea. Qui sit officia ut est aut et doloremque. Error atque dolores ut accusantium autem est aut qui. Explicabo suscipit fugit qui reprehenderit omnis vero et. Illum aliquam quod consectetur placeat quo aut natus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Consequuntur error quae repellat expedita dolor vitae. Consequatur autem aut aperiam et et quis. Facilis commodi aut esse magnam eum.
Recusandae inventore mollitia vel dolorum. Veniam vitae officia voluptate. Aliquid quae dolor voluptatem nihil. Et sapiente voluptatum vel. Ipsam deserunt aut ipsam id. Quae veritatis et laudantium aut facere. Tempora magnam sapiente deleniti incidunt est.