stc

My ex-wife worked in retail. Dealing with cash on a large level costs money too. It seems Peter Luger's is making a statement. I'll make a statement for the other side and vote with my feet. Most restaurants with attitudes like this are overrated, overcrowded, and just don't care.

I don't like carrying cash. And I'm not even a Millennial. Do I withdraw $100 or $200 or $500 before going to Peter Luger's for 2 people? or 4 people? Let me tell you that I can probably count on the fingers of one hand the number of times I'm had more than $200 in my pocket / on my person other than to walk from one bank to the other bank next door.

HomerJay

The Platinum Card "invitation only" Coachella event at the Parker Meridian turned out to be much more popular than the organizers had planned. Ran out of Grey Goose vodka several times, and they had to scramble all over the desert to resupply. Last year, it was the water shortage. This year, it's overrated vodka that's in short supply, but Amex did very well with its millennial party promotion.

dinanm3atl

As I have said in this thread my luck must be better thane everyone else. I travel 40ish weeks a year. 3-6 days each time that include weekends for work. I'll do international 1-2 a year for fun.

In 2016 my AMEX wasn't able to be used less than 10 times I can remember. I literally charge everything on it. One of my favorite sushi places in Toronto doesn't take it. A convenience store inside PVG didn't take it. While in Tokyo, Osaka and Kyoto not a single time(if they took cards) was it a problem. From little hole in the walls to nice sushi places.

Guess I am just lucky. Locally in Atlanta I can't remember the last time I was told they don't take AMEX.

MDtR-Chicago

Or you'd sign up for the "Peter Luger House Account", which is probably the real reason they still don't take credit cards. Probably drives way more revenue for people to be able to say they are in that (not at all) exclusive club than they lose because of the CC policy. It's like a restaurant elite program but more meaningless.

Juanefny

Well, many many people read TPG, and we was on CNN last week talking about United. Maybe other people get more targeted invitations to things, but I have only gotten crap that I really couldn't care less about. The article talks about that... who cares about the Monte Carlo experience that costs thousands, or the Kentucky Derby experience that also costs thousands (and I'm Vegan, if they did some good data mining they would know that).

MDtR-Chicago

Can you imagine how successful a card would be if it presented monthly experience offers based on actual data mining? Micro targeted to you? Not generic demographic offers but special events, discounts, whatever at places you would/do actually go, with people similar to you in your local geography?

And how much more spend that card would capture if the only way to get those offers was to establish a spending pattern by charging everything on the card? The first time a "Millennial" had one of those experiences to talk about, everyone in ear-shot would sign up.

(Amex, my Sole Proprietorship with 1 employee, $0 in revenue, and less than one year in business is open for consulting work. You know how to reach me.)

gsxsilver

A HP and ding against 5/24 doesn't sound like a good trade off for steak... even good steak. And I do believe they'll charge your credit card if any charge is pass due.

I have my doubts about this. People already are stressing over online cookie/browser/isp tracking personal activities. Not sure how well it'll go if card companies track personalized spending to send targeted ads. And yes, I do see offers as a type of advertisement.

josephstern

Love it that Peter Luger is the anecdote here. I've never been, but I put that place squarely in the same category as those who thing Amex equals status. It's old-school, like Amex, having your own car and driver, and living on the Upper East Side.

Now if 11 Madison Park didn't take credit cards, there would be a point to be made.

jamesinclair

I look at them every few weeks. I think in 3 years I have been able to take advantage of one offer. Might have been Best Buy? I don't recognize 90% of the stores that show up on the list.

Recently they had a $100 off when spending $500 on a cruise, but the offer popped up 3 weeks after I made my cruise payment, so I couldnt take advantage of it.

Didn't Amex used to have some kind of bonus if you swiped more than 20 times a month? That would get me to use the card.

Citi is doing it.

I recently got an email that said "you recently spent $60 in toys, use Price Rewind to see if we can save you money!"

mikesyr18

What really irks me about AMEX is their reward policies. There isn't any other company out there that doesn't give you your rewards from purchases over the last 30 days at the end of the monthly statement or right after the purchase is processed. AMEX on the other hand likes to add an additional 30 days after the statement cuts for some reason, so the added points are always a month behind, which makes zero sense, especially on their credit card accounts.

-Buy something at the store on March 12th = $20*2 MR = 40 points.
-Statement cuts on March 30, points aren't added.
-Another 30 days passes, another statement cuts, 40 points are then added.

Time passed since purchase til they gave you your points = 49. You mean in this case one has to wait almost 50 days until they get their points? Major inconvenience, and this policy applies to the $550 a year Platinum too.

To add to that -- let's say you have one of their cash back cards. You can only redeem in $25 increments at a time. So there's a $25 minimum, but then if your second statement cuts and you have $47.50 in rewards, you can only redeem $25 of them. Not only that but why can't you direct deposit that money into a bank account? As far as a I know you can only redeem for gift cards or a statement credit.

drwilliams

On this point, just got this email. Pretty pricy, and I like EMP.

Eleven years ago, Chef Humm and Will Guidara joined Eleven Madison Park and have since elevated the restaurant to remarkable heights. What was once a well-regarded brasserie is now a world-class dining destination with multiple accolades, including #1 on the 2017 “World's 50 Best” list, Three Michelin Stars, Four Stars from The New York Times and numerous James Beard Foundation awards.

Now Eleven Madison Park plans to close for an intensive renovation and will be hosting a final dinner to say goodbye to the current space. Join Chef Humm and Will Guidara for the celebration before its exciting redesign.

WHEN: Saturday, June 10, 2017 at 7:00 p.m. EDT

WHERE: Eleven Madison Park, 11 Madison Avenue, New York, NY 10010

PACKAGE FOR ONE (1) PERSON INCLUDES:
Access for one (1) to a cocktail reception at Eleven Madison Park where guests will have the opportunity to mingle with Chef Humm and Will Guidara1
Access for one (1) to a nine-course dinner, pulled from the archives of the past eleven years*2
Wine pairings for one (1) from two milestone years: 1998 when the restaurant opened and 2006 when Chef Humm and Will joined the team1
One (1) autographed cookbook
One (1) special legacy gift
Airfare, transportation, parking and accommodation are not included in the package price.

Important Information: Cardmembers and guests attending this event must be at least 21 years of age. Any persons under the age of 21 will not be admitted.

PACKAGE COST FOR ONE (1) PERSON: $1,200 USD, taxes and gratuities included3

PACKAGES AVAILABLE: Four (4) packages available for purchase on a first-come, first-served basis. Limit of two (2) packages per Basic Centurion member.

sdix

I have 3 children (19, 25,27)

None of them have any concept of banking. None know what a routing number or acct number is.

While they do have bank accounts they do bot balance them. They check online if they have money. If they do they spend via debit NOT credit.

They do not write checks. They use cash or other forms of money transfer.

I got them all AMEX cards and Visa but they do not give a hoot about miles or points.

I am 50+. My dad had an Amex Green that I was in awe of.... I now have a AMEX Centurion that I am in awe of but honestly no one else gives a s**t about.

Times are a changing and financial institutions need to adapt. Amex may well be a dinaseour but so may be Visa and M/C.

HomerJay

Sure. Got enough MR points from the offers to pay for my F ticket LAX-IAD on VX for Coachella. Moved the miles from Elevate to Mileage Plan to make it happen.

And saved a couple hundred dollars in rebates, as well.

Going through the offers is much like an oenophile going into a wine store and looking for targets of opportunity. Most of the stuff isn't for you, but some is, and some fits right into your plans.

MDJennings

To be fair, you can run up a Peter Luger's account and they will take settlement of it via credit card if you become delinquent.

https://peterluger.com/media/wysiwyg...pplication.pdf

josephstern

I don't get why anyone balances a personal checking account anymore. Most transactions are immediate - the online display is as good as an old-fashioned check register.