The post is long so kindly bear with me.
Been a Centurion holder (in Japan) for the last 10-ish years. The annual fee is just around the corner for me and I've been on the fence whether the card is still worth keeping or not, especially after they nearly doubled the fee last year.
The perks will obviously vary from country to country but, in the case of where I live, I feel like the perks are rather meager compared to what's offered in the US, for example. We don't have "daily use" perks like Equinox or Saks and most of them are centered around the theme of "ultra luxurious lifestyle" relating to travel, expensive cuisine, high-end brands and exclusive events which, for most people out there, you usually don't just do or buy on a whim. It just doesn't really fit the needs of me or my family with kids.
We don't travel much (especially since the pandemic) and, even if we do, our preferred hotels may not fall within the list/memberships offered by Centurion. The only benefit I've really used in recent years is an annual "free stay" program where we get a free 1-night room at various semi-high tier resorts in Japan we use this as family to take the kids out on a short 1-night trip somewhere nearby.
Sure, we get a personal concierge but, in this day and age, it's usually faster and easier to just make reservations online myself or make changes/adjustments on-the-go as needed, instead of having to involve a third-party (concierge) each time. I have yet to see the concierge go out of the way and make something happen that I cannot do myself in half the time.
In terms of exclusivity, the Centurion seems to be going downhill over the last decade or so. It used to be the only metal (titanium) card which made it special and rare, but now all the other competitors have incorporated 'metal cards' into their lineups. Even AMEX now offers metal gold and plat cards. Before it was a sight to behold when someone would flip out a rare metal black card when making a payment, but now people flip out their smartphones instead. Not sure what else I'm missing?
At the end of the day, I know it's just a piece of black plastic (or metal) where 99% of the time nobody but myself will even see the card and, if this was any other card, I probably would've downgraded already when they raised the fees. But on the flipside, there's a small part of me where I'm hesitant to downgrade simply because it still appears to be one of the most prestigious, exclusive, sought-after cards in the world and, judging by my current situation, I feel like I won't be getting my hands on it ever again in the future.
As strange as it sounds, the Centurion is like a small 'trophy' that doesn't really boost or add value to my daily life just by having it around, but it's more of an ego or a "self-satisfaction" thing that reminds me of the success I had that led to an invite. Back then I was just another ambitious, young, single dude who did pretty well for himself and ended up with this card. But now I'm older (not super old but middle-aged), I have a family with kids and our expenses are more "down-to-earth" and non-luxurious, and my financial/mental situation has been on the decline in recent years due to the pandemic and ongoing global recession.
I'm willing to give the card one more year and, with that in mind, maybe more proactively try to make use of whatever benefits I can squeeze out of the insane annual fees. Honestly though, I'm not sure what benefits I'll be able to really use and find useful to me or my family.
On the other hand if I downgrade, I'll be taking it all the way down to Green and let go of my ego along with it. Perhaps I can find some comfort in the fact that even someone like Warren Buffett apparently holds a green card in his wallet, voluntarily. Perhaps it's more self-comforting to believe that one who has received a Centurion but doesn't really need it anymore is a tier above that level lol. Whatever...I'm digressing at this point.
So, some questions I have for any other Centurion Card members out there is:
- Is the current (recently doubled) annual fee still worth it to you? And why?
- Are you considering cancelling/downgrading like me? And why?
- Do you feel like the Centurion Card still holds the same value that pinnacle spot of rare exclusive status in this day and age where most people just pay with their smartphones and you never really even see the card anymore?
- What other cards or brands would you say is similar or equal to the status of Centurion, if any?
Thanks for your patience and looking forward to hearing your thoughts and stories. Hopefully this will help sway my mind in one direction or the other. Cheers.