American Express Membership Rewards - Centurion Any new acptance info post $2500

Anyone try to apply in the United States since they raised the membership fee. I was wondering if they have loosened the un-official requirements with the new higher fee?

Just checked, the critirea for the Centurion(sm) Card has not been relaxed. USD$150,000 in spending within the last year still remains.

Yep! Just got the card over a month ago. Still need to spend $150,000 min for the year. Fee was $2500. Kept my wife as a platinum holder on my Centurion account because I thought an additional $1500 was a little steep.

I am still inching to meet that spending threshold myself. Care to add me as an additional users on your acct? I am getting close, just $47,000 more worth of charges. It's going to be rough, since one year for me ends October 2002. So trying to figure out what to do. This is the closest I have ever been, but still so far. Oh well.

MaisonUnitas, be aware AMEX looks at the TRAILING 12 months, NOT a calendar 12 mo period, for CENT qualification.

Thus, as a strategy try to bulk your purchases into 1-2 mo periods if possible, and then review your last 11 mo, and keep the "running total" in your mind.

For anyone who asked, yes, you can "invite" yourself, as I did in the spring of this year, and AFAIK, "corporate CENTURIONS" are suspended and they are only issuing personal CENTS. Not sure why this is. FWIW, I was ahead of the price increase by mere weeks, and came very close to missing the aggregate charges due to this trailing 12mo method.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by plumbar:
Yep! Just got the card over a month ago. Still need to spend $150,000 min for the year. Fee was $2500. Kept my wife as a platinum holder on my Centurion account because I thought an additional $1500 was a little steep.</font>
Is there an ongoing $150k/year requirement once you've already received the card?

I have a Centurion, but might come a little short on the $150/LTM minimum because I have shifted a ton of purchases to my UAL card (2-for-1 promo), and am wondering how that might effect me (?).

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by fenstere:
[QUOTE]Originally posted by plumbar:
Is there an ongoing $150k/year requirement once you've already received the card?
</font>

Nope.

I heard that if your are a American Express Private Bank client (limited to non US citizens and residents who have 1M investable assets) can get either a Cneturion or Platinum card.

Im wondering if you have a large balance in either American Express Centurion Bank or Amerian Express Financial Services if that can qualify you for a Centurion Card.

£ 500,000 in an Amex account in the UK gets you one...

[/QUOTE]
Is there an ongoing $150k/year requirement once you've already received the card?

I have a Centurion, but might come a little short on the $150/LTM minimum because I have shifted a ton of purchases to my UAL card (2-for-1 promo), and am wondering how that might effect me (?).[/B][/QUOTE]

Not to my knowledge. I will probably hover around the $150,000 marker this year. However, I may be over or under by a tad.

I think all they care about now is getting ther $2500.00 fee! As long as you can pay the fee, they should be satisfied.

[This message has been edited by plumbar (edited 09-08-2002).]

The Viking-
What type of UK Amex account do you have to have your funds in?

I'm also a UK Centurion card holder (for about 3 months only). Amex private bank will definitely do business with you for less than $1 million - times are hard (if you hadn't noticed!) and anyone with a serious income and decent deopsit amount should expect to be able to open an account and consequently obtain a Centurion card. I spoke with their private bank (via Centurion customer services) and have set up a meeting with them to discuss things, but I made it plain form the outset that I didn't have $1 million to deposit - not a problem was the response. I think as with all decent companies they tend to look at a client's potential as much as anything else (I'm only 27).
Love the Card by the way - having them source a sample of handwriting from Vladimir Horowitz and Glenn Gould for me - determined to get my money's worth lol. Great service so far (although I have to say I was invited without spending $150K pa and after having a Platinum for only 2 years or so - I guess I complained loud enough and to the right person about terrible Platinum service to get upgraded).

Jimmy Love-

Are you referring to the American Express Private Bank, which does not serve US residents or citizens?

I wondering if large balances will get you the card if you have your accounts in Amex Financial Advisors or Centurion Bank Bank in the US or a Cash Management Account / Trade account in the UK.

BTY- How did you get the card with the 150K spending. Does the UK have different standards and if they do what are they?

thanks

Steve,
yes I was talking about their Private Bank - sorry, didn't realise they didn't serve the US. Regarding 150K spend, I was spending around $100K pa on my Platinum and had had some REALLY dreadful service from Platinum (bordering at times on the illegal). After numerous complaints in writing (to Centurion's Service Delivery Manager for the Card) and requests to meet in person to discuss the matter, I was told that I was to be invited when the next round of invites went out. True to her word the invitation came and now I have the shiny black card in my wallet. Throughout the matter Centurion behaved professionally and efficiently - absolutely no complaints regarding service.

BTW -
Don't know if this has been mentioned on this forum but according to my contact at Centurion, there is absolutely no intention of raising the fee in the UK. Oh, and the UK website is soon to be up and running.
JL

FYI: the 150K requirment is for the U.S. -- not the U.K.

WhiteAMEX is right about it not being £150k, do a search through the archives for more details http://www.flyertalk.com/forum/smile.gif

Thanks,
Richard

I just found out from a friend that if you have a large balance ($500K - $1M) in Amex Financial Advisors/Brokers or Centurion Bank in the US that they can recommend you for a Centurion Card like they do if you are a Amex Private Bank client. Though Amex will not acknowledge this, but it is possible.

A friend of mine works in marketing at AmEx. When we last spoke about what AmEx was doing in the difficult financial times (this was last August or so), the response was basically that AmEx was going to try and get a card in everyone's hand and upsell as much as possible.

The impression that I got was that the qualification criteria for all the cards was going to be lowered bigtime and they were going to try to make money by getting new clients and getting more fees from existing clients.

Based on the invitations for gold and platinum cards that I've been hearing about, they're definitely following through on giving those cards to anyone with a social security number. I understand they're a little softer on the Centurion these days too.

d

I thought, if anything, AMEX would tighten up their credit criteria.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by SteveT:
I just found out from a friend that if you have a large balance ($500K - $1M) in Amex Financial Advisors/Brokers or Centurion Bank in the US that they can recommend you for a Centurion Card like they do if you are a Amex Private Bank client. Though Amex will not acknowledge this, but it is possible.</font>


A few years ago, I wrote Amex with the proposition that I could transfer my brokerage account to them if I could possibly get a Black card. They didn't bother to reply.

BXWATSO-

What you need to do is actually talk to an Advisor at American Express Financial Advisors. If you can put at least $500K ($1 Million is better) in a Platinum Financial Services Account, you should be able to get a recommendation for the card. You will however have to pay for the annual fee of $2500 and you do have to have good credit.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Doppy:
A friend of mine works in marketing at AmEx. When we last spoke about what AmEx was doing in the difficult financial times (this was last August or so), the response was basically that AmEx was going to try and get a card in everyone's hand and upsell as much as possible.

The impression that I got was that the qualification criteria for all the cards was going to be lowered bigtime and they were going to try to make money by getting new clients and getting more fees from existing clients.
d</font>

AmEx is going through financial woes, like anyother financial lending institution. I find it rather unlikely that any lender would relax its criteria, especially at a time like this. Most are becoming more conservative and enforcing credit policies that always existed but were never enforced. The banks are trying to reduce there credit risk portfolio and maintain a low charge off rate.

Some banks are opting for changing cardmember terms with higher rates and increasing default terms, over limit fees and late pay fees, etc. Others are soliciting exisiting members with incentives to use there card more, to help generate bank revenue.

if you are considered a higher risk, the bank may even reduce your limit to reduce there risk involved with your account. And the main point; all should concentrate on delivering good cardmember service, to help retain there existing members. As it is becoming more difficult to take on new members, and the cost involved is very expensive.

[This message has been edited by MaisonUnitas (edited 09-19-2002).]

SteveT -

Thanks, but just like the French from the "Holy Grail" movie, I've already got one. I was just pointing out that Amex was less than interested in getting my brokerage business.

Thanks for your insight, I'm sure it will help someone else.

Amex does not need to increase the credit limit when they give you a different color card, they don't take more risk to upgarde their 'better than average' member to a higher card, Amex just get more anual fee.

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by MaisonUnitas:
AmEx is going through financial woes, like anyother financial lending institution. I find it rather unlikely that any lender would relax its criteria, especially at a time like this.</font>

As noted above, AmEx doesn't have to lighten up their credit criteria to "upgrade" people to higher level cards. There's really no difference in purchasing power between the different colored cards, AmEx's limit on your exposure isn't really related to card color.

So, in an effort to bring in more money, AmEx can send an invitation for a platinum card to a mediocre green card holder and be guaranteed at least an extra $300 and change in fees each year, but not increase the credit limit.

Or, AmEx can send a gold card invitation to an unestablished customer and pick up a new customer and a nice annual fee. If the customer doesn't have a high credit score, AmEx will just limit its exposure.

But, primarily upselling people has little downside for AmEx.

d

<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Doppy:
There's really no difference in purchasing power between the different colored cards, AmEx's limit on your exposure isn't really related to card color.
</font>

That's not true for Express Cash.

The french Platinum card allows $6,000 every 7 days.

The Intl. Dollar Centurion $7,000 .

For US cardholders, Express Cash doesn't give you a cash advance, it debits the money directly out of your checking account.

Regardless, the purchasing power on the two cards you mentioned is likely to be the same. Even the amount of cash you can get from Express Cash is going to be based on your creditworthiness, the maximums are just maximums, not guaranteed minimums.

d

I want to activate this thread, by asking if anyone had a Centurion Card issued to them lately or have any updated information on the membership criteria.