With respect to the devaluation of the Centurion product - I fully expect that in 20 years’ time the Centurion target invitation recipient and their respective interests will be vastly different than most of us who are receiving invites now. They will also have demographic data that will ensure that a significant proportion of cardholders will have access to the major benefits offered at that time. To think that the program won’t evolve over a 2 decade period is to deny that more banks are entering (or are desirous) of entering this space - which is certainly a contributor to the changes that may frustrate many early invitees. These banks have their own relationships with corporate partners that will no doubt effect the offerings available of competing credit card companies (Amex). It’s more likely than not that we’ll continue to see additional shifts in historic programs (Multi-airline status; multi-hotel status) continue to be replaced by more niche offerings that are geared towards new Cent accounts - and less so the retention of existing cardholders. After all, the business model relies on convincing NEW members to pay the 10k initiation fee. Amex is confident that most current Cent holders will retain their accounts despite these changes - and have clearly stated that their current goal is to promote upgrades from gold —> plat, and plat —> cent. A certain rate of attrition is built into the plan - and frankly for every one that says “I’ve had it!” there’s probably a multiple of 10 spending insane amounts doing everything they can to procure and invite.