American Express Membership Rewards - Centurion card news

Al Kelly, American Express Group President, U.S. Consumer and Small Business Services, on February 7, 2001 :

<< The Centurion Card, first launched in the United Kingdom, is a super-premium charge card that offers an unprecedented array of travel, lifestyle and financial benefits delivered to cardmembers through highly personalized customer service. It is a key asset in our efforts to lead and own the premium card segment.

Our UK Centurion Card, which has a fee of 650 British pounds, has been very successful. We achieved a 95 percent conversion level when we offered Centurion to the Platinum Card base, and saw a 28 percent increase in average spending on converted accounts.

To date, in the United States, with virtually no marketing, we have issued over 4,000 Centurion Card accounts, each at a fee of $1,000 a year. These Centurion Cardmembers, on average, spend much more than Platinum Cardmembers, who are heavy spenders themselves.

Looking at same index I showed a few minutes ago, you see that the average Centurion account spends at 2,862, vs. Personal at 100, and Platinum at 621.

When looking at this trend, you may think that we simply took the top accounts from the Platinum base and gave them Centurion Cards, thus diluting the quality of the Platinum portfolio. This is not true! In fact, the top 4,000 Platinum Card accounts have 2.8 times higher average spend than the average spend of the Centurion base.

We have also successfully introduced Centurion in Germany and Hong Kong, with still more international markets slated for launch this year. Overall, our success with the Centurion product solidifies our ownership of the high end of the market. Its worldwide launches strengthen a core and traditional part of our business.>>

http://home3.americanexpress.com/corp/corpinfo/fcm0102/ak-p1.asp

Ah, so they finally admit to how many US Centurion cards have been issued! This is fascinating stuff - I'm surprised they posted it on their web site.

Actually, AMEX probably didn't have much choice about posting the information. With the new SEC (I think) requirements, any interim financial information (between quarters) presented to analysts in the financial industry via briefings, etc. must be made readily available to the public. It's an attempt to level the playing field for the individual investors vs the brokerage houses.

I wonder if we could revive the discussion about how to get the centurion card.

Does anyone know when the next wave of invitations is due?

Does booking travel with PTS help more than just buying tickets with your platinum card?

Has anyone received an invitation who has spent more in the $75k per year range? If so, what kinds of travel did you charge?

Basically, I want to know if I can change some of my spending and travel habits to become worthy of Amex's approval.

"In fact, the top 4,000 Platinum Card accounts have 2.8 times higher average spend than the average spend of the Centurion base."

VERY curious fact! http://www.flyertalk.com/forum/smile.gif

Thanks! http://www.flyertalk.com/forum/smile.gif

Bxwatso,

I feel kinda strange about posting about finances in such a public place, so I'll be "general". In 2000, total charges on my Plat.acct were over $100,000 with 2/3 spent on travel. I HAVE NOT been offered the Centurion card, so I too am curious about the "secret qualifications"...

Originally posted by Fishbait:
In 2000, total charges on my Plat.acct were over $100,000 with 2/3 spent on travel. I HAVE NOT been offered the Centurion card, so I too am curious about the "secret qualifications"...

I would call Centurion Customer Service, at (877) 877-0987, and apply. If the agent says "sorry..." ask to speak with a supervisor... You should not have a problem...

I can tell you it has nothing to do with using PTS. I rarely use those folks. I'm sure they are good at U.S. travel, but I've found they don't know much (or as much as me) about international travel.

Called AMEX Ceturion Card Customer Service today, and the Rep. I talked with stated 3 requirements in order to qualify for the card.
1. At least 1 year AMEX card holder
2. Good Payment History
3. Spend a minimum of $150,000 per year

Benefits include Gold Elite with a number of airlines and hotels included in the yearly fee.
Anyone spending less than $150,000 and have the card??
The $1000 yearly fee is worth it for the free upgrades on all the different airlines he mentioned (US Airways, Continental, Delta, and I think there was one more) not to mention the hotel upgrades. This way you can choose different hotels or airlines and still get the perks.

Those qualifications may be enough to get the card, but based on anecdotal evidence #3 is not the minimum.

As far as #3 goes, while I had exceeded it over a number of years (and sometimes significantly), I was well under half of that "threshhold" in the years preceeding and during which I got the card.

Spend a minimum of $150,000 per year

Absolutely, positively not true.

Upgrademe, can you, or anyone on this board tell me what they are trying to prove? You would think this would be a mechanism to move active users from competitive cards, but when I showed them I could transfer those kind of charges from other cards, they said "we only give these to our own customers". I then got the same 150k speech, although I was recently with a guy who has a black card, and he said his annual charges aren't anywhere near that. He said he came back from Europe, called an complained his Platinum wasn't doing anything for him, and they just gave he and his wife a black card (hers was an additional $500). All I got was some wiseguy saying I should run up the charges on my Platinum and see what happens. I believe the quote was "if you have that kind of money, that shouldn't be a problem". My response to the guy was "you're pretty arrogant for a guy working the phones on the night shift". What pieces of work!

Originally posted by deelmakur:
All I got was some wiseguy saying I should run up the charges on my Platinum and see what happens.

Speak with a supervisor!! They are granting the centurion based on the amount and frequency of travel related expenses...

I will double check with my source...

Thanks for those who replied. I think we can simply conclude that Amex is not being very open about its standards. For the record, I called them and they said the following:

Next invitation round is April 2001
Minimum spending of 150K per year
Minimum of 4-6 trips per month

I do somewhere around half of these two minimums, so I guess I am out of luck for now.

However, I suspect that these minimums are not ture, based on threads in this discussion group. Amex is probably telling people that these are the minimums to avoid irritating lesser customers who don't get invited.

Anyway, I feel a bit superficial to be taking such interest in a credit card. http://www.flyertalk.com/forum/rolleyes.gif

I'll second the feeling of superficiality, but some days there just isn't enough to keep me busy. Seriously, thanks for the info. I still can't figure out what the object of their marketing is. If a person says they will move their spending over, why wouldn't you take it? They can always cancel the thing if you don't perform.

bxwatso,

If it helps at all, I am extremely close to going back to a Platinum card, as I am having a very hard time justifying the cost differential.

Originally posted by bxwatso:
Amex is probably telling people that these are the minimums to avoid irritating lesser customers who don't get invited.

Well... Here is what my insider told me:

"You know, it is so hard to explain why some people get offered and some don't - each case is unique and I do not know everything about the person. There are probably more things about the person's history that we either do not know or they will not tell us that might affect their credit worthiness positively or negatively. Also, systems are not perfect, and although marketing tries to
segments and target good canditates, some of course will "fall through the cracks" and not make it on the list."

Hope this helps...

Having been effectively shut out of the bank card business by the Visa and M/C consortiums (the BOH portfolio is insignificant), Amex is obviously out to show everybody they own the super premium franchise. All the more reason to wonder why they wouldn't want to use this product to skim the other guy's best customers.

Some more news:

I called Centurion to discuss my account and the rep said that, because I have a Fidelity Platinum card, I will NEVER be considered for an upgrade. http://www.flyertalk.com/forum/mad.gif

FYI, the Fidelity Platinum is a regular Platinum card that is linked to your Fidelity account for payment and cash. It is not one of those fake Platinum cards.

The rep said I would have to go back to a regular Platinum card to be considered. Furthermore, my past charges on the Fidelity card would not count, so I would have to start from scratch.

Does anyone have any experience with this issue?

Thanks.

The company is very foolish to allow its employees to talk to the customer base like that.

I don't know Amex's criteria, but I have a friend who spends easily $600k on expenses and travels 10 times per month & he hasn't been invited.

I also know that yours truly only has an SPG Optima, a real low spending rate of say $1.5-2k/mo on their card (I put most on MC per month), travel once every 3 months AND I was OFFERED the Centurion.

I don't know how I was offered this card since I don't meet their requirements. However, if they have some way of checking my assets, then I could see why they would offer me the card, BUT they SHOULDN'T have such access!

Any case, the card isn't worth the $1k annual fee by a looongshot.

IMHO it's mostly a showoff device for the T&E'er who wants to pass himself/herself off as someone wealthier than their $65k/yr sales job (or $100k annual Household) affords.

I called to inquiry about the Centurion card. I was told that I had to have charged $150k to my AMEX cards over the past year. I have an AMEX Gold, Platinum Delta, and Gold Small Business. The rep told me that the charges on my small biz card do not apply. They only want to see personal charges. My combined Gold and Platinum Delta for the past year amounted to ~$75k.

I met their minimum income requirement but did not on their spending.

deelmakur was told today that he got his Centurion Card. Thus he joins the ranks of the vapid, who would pay too much for an annual card, just because someone kept telling them they couldn't have something. Alas, shallow thing that I am, I leave these threads, take back all the invective heretofore spewed, and join the ranks of those mindless cardholders who continually fill these spaces with snide expressions of wonderment as to why others don't have the card, when it was so effortless for them. They're still better than me, though, 'cause I didn't get an invite...I had to ask.

[This message has been edited by deelmakur (edited 03-23-2001).]

Somewhere it was mentioned that the elite memberships in the FF programs were not that useful since they were not top elite. Can't really evaluate that but thought it might be helpful for some considering the card.

Nobbi

[QUOTE]I also know that yours truly only has an SPG Optima, a real low spending rate of say $1.5-2k/mo on their card (I put most on MC per month), travel once every 3 months AND I was OFFERED the Centurion.

Dinosaur Hunter,
How long have you had the Optima card...offered meaning that they send the Centurion to you...or you called to enquire?

deelmakur,
How many years did you have Platinum for and was your spending near the 150k?

Thanks...trying to get one myself.

deelmakur's lips are sealed.

It looks like they gave invitation without following the criteria they mentioned. So they publish one set of rules and follow another.

They are there to make money. I don't think they really care to create a separate class of citizen with their prestigious card.

They probably send their invitation according to your credit score (FICO score)... My guess is that you need at least 700 to get it since this card allows a very high spending limit. They want someone to be able to pay it back. That is, some one with good credit.

I have learned that special consideration was given to Platinum holders who were "charter members". That is, they first got their Amex cards between 1958-64. Nobody is getting this card without demonstrating the ability to spend and pay at the levels they suggest. By using only the experience they have with current member spending, they are probably missing people that should be in the target, but have just been charging elsewhere. With the current economy about to clip the wings of some of these latent big spenders, the company may be rethinking its position.

Originally posted by FunnyNYC:
[QUOTE]
Dinosaur Hunter,
How long have you had the Optima card...offered meaning that they send the Centurion to you...or you called to enquire?

Thanks...trying to get one myself.

I've had a slew of Amex products. Last one being the Platinum. I got fed up with having to pay for benefits that are not a good value. SPG is, of course, a different story.

There is, of course, a better way to get Black card benefits. For instance, if you want awesome srvice and a dedicated concierge, try the MBNA Quantum (the so-called $1 million credit line card). Their concierge has arranged seats at NY's hardest to get into restaurants for large parties!! By myself, I could never have arranged this. I've also received last minute tix to World Series & Superbowl.

They have a travel rewards program, but it sucks in terms of value. I'd stick w/ Diners, SPG or Membership Rewards.

In terms of achieving elite status, a biz traveler should easily qualify on 1-2 airlines (American, United) and hotels (Starwood, Hilton) at the SAME level as what the Black Card offers for $1k. (If you're a T&E'er, isn't it less expensive to pay $80-$85 out of your own pocket for Diners than $1k?).

I really don't see the value when I put alll the so-called "benefits" under the magnifying glass for the price.

Not to be sarcastic here, but I know from many Black cardholders (males) that they say the card isn't worth it. They eventually confided that they signed up to impress people. Who, in particular? They say ladies! LOL! Did it work? No! Why? They won't say, with sad gloomy eyes. (I can honestly tell you, however, they would stand a much better chance if they'd spend the $1k instead by joining a gym. http://www.flyertalk.com/forum/wink.gif)

Bottom line: don't sign up for the wrong reasons. If you truly see value, then sign up. Good luck in your travails.

Beacon and FICO scores can be found at Equifax.com...those of you that have your score and have a Centurion Card...what did you get/what was your range?

I don't think it's based on your credit rating. My wife and I are near the top of the scores, our income exceeds $300k annual. We just didn't spend enough with AMEX.

I started this thread about five weeks ago, with Mr Kelly's declaration concerning the Centurion card.
The target is, I think, clearly described there:
Existing Platinum cardmembers who spend enough on the card, and could spend much more.
The $150K must be understood as a guideline, not as an absolute value.
A few VIPs from the show business could have been invited, because it's never wrong to have them as customers, but..
..if you are Bill Gates, and never use your personal card, or President Bush, and never travel outside of Texas, you should not be invited at all.

Has anyone else found it amusing that AMEX tells you that you need to spend $150K annually to get it, when the press release states that the average Centurion holder charges at a rate of less than $35K a year?

Excellent point. To hit a number like $150k you generally would need to charge a lot of big ticket items. Most people who sell those will tell you up front they will take a credit card, but not Amex, because the percentage they pay Visa or M/C is considerably less. On the other hand, I can attest that they will not issue the card to anyone who can't show the ability to do it.
My guess is that some of these have previously been issued to people who can't make that showing, but have a history of those kinds of charges, likely reimbursed by an employer. In this kind of economy, that may well turn out to have been imprudent.