Originally Posted by
GUWonder
Amex raised the fee big time, and the major thing Amex gave customers to make the massive fee hike not look as bad as it is a de facto credit for gym membership along with a quarterly shopping credit.
I am just waiting to see how long it will be before the Amex Platinum card fee in the US is nearly double what it is currently or a premium Amex card is placed in between the Platinum and Centurion cards and what benefit features are bundled into higher fee products.
I'm not sure I agree with this. In the late 1970s, the Gold Card was the top card product and was recognised as a bit of a status symbol. Then, in the mid-1980s, the Platinum Card was introduced and was, for a while, by invitation only. I remember when my father received his invitation in a heavy box that arrived by mail. It was, for a long time, a real cachet to have this card, until it - inevitably - went mass market. I can't remember when, but some years ago Platinum became available for application by anyone. Today I see this card all over the place, and I don't believe the income or spend requirements are in any way significant.
So along comes the Centurion Card and the same story starts again. Initially (1999) it is a top premium product, by invitation only and surrounded by mythical lore. Twenty years later and - while still invitation only - is far more mass-market than most people believe. I suspect here again the entry requirements have dropped (I myself ignored two invitations in the early and mid-2000s). Now the card is shown on the Amex website, discussed openly, and available to a much larger audience. It has gone from a niche high-end product to one where Amex sees a distinct revenue stream (just look at the published numbers of cardholders around the world.)
I doubt Platinum will be upscaled, or that a product between the two emerges. If anything, there may be a new card above Centurion in a few years.