Centurion

Amex created Invitation only for the Amex Platinum and Amex seems to use the same program for Centurion by just using simple overlay skins that say Centurion for Centurion cards.

Now Amex has been surpassed by Citi Private Pass and Citi Private Pass Beyond with far more offerings and offerings you can redeem.

scubadu

Do you ever get tired?

Regards

Kagehitokiri

"demise" ?

are you saying they are getting rid of By Invitation Only?

mia

No, it's a riff on this theme:

http://www.flyertalk.com/forum/ameri...ress-card.html

2Tall4Y

AMEX had an awful Q3 with a double digit decline in net income and the stock price is currently off 24% from its 52 week high. It lost Costco, JetBlue, and the SPG program is at risk in the mid/long term.

Furthermore, it has suffered huge FFP devaluations with Delta, British Airways (followed by a 20% haircut on transfer ratio), and Aeroplan next month. Citi is going straight for the jugular (just picked up the Prestige myself) and Chase has a strong program with UR and a gazillion branded card programs.

So....I guess what I'm pondering is whether or not AMEX will be juicing bonuses, adding worthwhile benefits (to offset huge losses to the Platinum card), or relaxing the one bonus per lifetime rule (at least on a targeted basis). What would fellow FT'ers like to see from AMEX?!

josephstern

Well, for one thing, they could have a competitive cashback card.

2% cards are a dime a dozen out there, but not from Amex.

Centurion

How about merging this thread with "The Demise of American Express thread? Just wait until Warren Buffet wakes up and realizes Chase/Citibank have been eating away at Amex market share. Amex could have been the coolest card around if they just stuck with one color card type product like the old days. Jus so I am not all negative. Amex still has great customer service. The problem is their competition stepped up their game.

TravelinSperry

Competition is good. Amex will have to do something to stop the bleeding and great CS won't be enough. All of us will ultimately benefit when they figure out how to properly enhance their remaining card folio.

josephstern

I should add that, due to Amex acceptance issues, they'd have to do better than the 2% competitors out there.

beep88

Getting rid of the churners?

jsk1973

I didn't think this sort of optimism was allowed at FT. Ha ha.

krazykanuck

Not to mention... cash back isn't why I have MR earning Amex cards.

Amex really needs to up their game on the Gold and Platinum cards. I'll likely keep my plat after the next renewal to see how the IAH Centurion Lounge turns out since it's my home airport. I travel enough that Centurion lounge access and Priority Plus is IMO worth the $250 AF (net of airline fee reimb).

But Amex could at least give us 1 complimentary guest on the Priority Pass or make the airline reimbursement less restrictive...

sdsearch

Another thing that's non-competitive is the "within the US" restriction on category bonuses. It's silly seeing/hearing their current TV ads touting "2x at US supermarkets", when Chase gives 2x on categories like that (on cards that have categories) with no geographic restriction.

So having to mention that in ads just makes them look non-competitive to those of us who know the competition doesn't have such restrictions.

And it makes me pack Chase cards, rather than Amex cards, when I go outside the US.

Of course, it further helps that Chase has cards with "net negative" annual fees -- hotel free night certs for each annual fee paid -- that have 0% forex, while Amex only has 0% forex on cards where the annual fee doesn't have much in the way of offsets. Plus Amex was late to the 0% forex game, so by now most people think of Chase or Capital One, not Amex, when they want to reach for a 0% forex card.

josephstern

The other problem with Amex on the forex front is that there hasn't been a big demand overseas for vendors to accept Amex. Between the forex fees for Americans and the fact that the company has the word "American" in its title (BankAmericard wisely renewed its image on that issue), it's just not a worldwide contender.

I haven't seen the TV ads, but that sounds pretty pathetic - like the prescription drug ads with their lists of caveats.

On the other hand, if the LAX Centurion lounge really happens and it's decent, that could keep the Platinum in my travel bag (but still not my wallet - not sure if they'd care though).

mia

Name 12 .

Over the entire lifecycle of a card, 2% cash back is inferior to the best miles/points cards. Cash back cards have no or tiny new account bonuses, few or capped category bonuses, few threshold bonuses, assess foreign transaction fees, and weak retention bonuses.

This is easy to understand. 2% cash back is a loss leader. The issuers who offer them do it because it draws clients who are likely to be profitable by paying interest (Citi) or generating investment commissions (Bank of America/Fidelity). I know that these cards can be used without fitting those profiles, but if too many people do this the 2% cash reward disappears. (See Charles Schwab.) American Express Plum was originally a 2% card, but changed to 1.5%. I don't see a ready opportunity for a 2% card to improve American Express' profits.

In any event, if I am on Flyertalk I travel, and if I travel I would rather have 1.5 Membership Rewards points on general spending than 2% cash, unless I am primarily interested in domestic USA economy class travel. 2% cashback is a far simpler way for infrequent travelers, especially with children, to reduce seasonal travel expenses.