Centurion vs. Octave?
Aug 10, 2017, 10:59 am
#2
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Aug 10, 2017, 3:43 pm
#3
Original Poster
Join Date: Aug 2017
Posts: 5
So it looks like Octave might be the winner?
1) lower annual fee: $950 annually vs. $7,500 initiation + $2,500 annually
2) earns more points: 2.5x everywhere vs. 1x everywhere
They both offer various hotel, airline, car loyalty programs. Not sure I really have a preference.
Has anyone had experience with both the Octave and Centurion concierges? I would be curious whether the Centurion concierge is any better.
1) lower annual fee: $950 annually vs. $7,500 initiation + $2,500 annually
2) earns more points: 2.5x everywhere vs. 1x everywhere
They both offer various hotel, airline, car loyalty programs. Not sure I really have a preference.
Has anyone had experience with both the Octave and Centurion concierges? I would be curious whether the Centurion concierge is any better.
Aug 10, 2017, 4:54 pm
#4
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
The number of points alone doesn't tell us anything about value. What is their redemption value? Who are their airline or hotel transfer partners?
Bank of America seems to offer a similar rewards program on a $95/year card, with a $100,000 banking relationship here:
http://www.flyertalk.com/forum/credi...l#post28667078
Bank of America seems to offer a similar rewards program on a $95/year card, with a $100,000 banking relationship here:
http://www.flyertalk.com/forum/credi...l#post28667078
Last edited by mia; Aug 10, 2017 at 4:59 pm
Aug 15, 2017, 2:46 pm
#5
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
I firmly believe the NO ONE holds the Amex Centurion "for the benefits" or points or redemption etc.
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
Aug 15, 2017, 5:03 pm
#6
Join Date: Jul 2014
Location: SFO
Posts: 266
Octave....you should probably also calculate on the back end the 2.5% management and funds fees you're paying on your managed investments and whether you're beating comps or the market.
No thanks, I'll do my passive investing for now, at least in this market environment.
No thanks, I'll do my passive investing for now, at least in this market environment.
Aug 17, 2017, 12:02 pm
#7
Join Date: Sep 2008
Location: Scottsdale, AZ
Programs: AA Exec Plat, Marriott Plat, Priority Club Plat, HHonors Diamond, Avis CC
Posts: 673
I firmly believe the NO ONE holds the Amex Centurion "for the benefits" or points or redemption etc.
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
Not everyone who has a Cent card is bathing in tubs full of Cristal or blowing their nose with hundred dollar bills. In fact, most of the time I try to AVOID actually using the Cent card because I would prefer that people don't see it.
Aug 17, 2017, 12:15 pm
#8
Join Date: Aug 2007
Location: Truth or Consequences, NM
Programs: HH Diamond, Marriott Titanium, Hertz President's Circle, UA Silver, Mobile Passport Unobtanium
Posts: 6,192
I firmly believe the NO ONE holds the Amex Centurion "for the benefits" or points or redemption etc.
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
Aug 17, 2017, 1:03 pm
#9
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Centurion has the same SkyClub access as Platinum. Perhaps he wasn't flying Delta?
Aug 17, 2017, 3:32 pm
#10
Join Date: Aug 2007
Location: London
Programs: BA GfL & GGL, LH Sen, EK & VS Gold, Amex Cent
Posts: 1,719
I firmly believe the NO ONE holds the Amex Centurion "for the benefits" or points or redemption etc.
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
It is 100% a status symbol. The people who qualify for it are already wealthy. They are fronting $7,500 just to hold the card for the first year. They are not worried about how many points they are earning or what value they can trade them in for.
They want to know that not many people have it and that it draws great attention when they pull it out.
Nothing wrong with that, if they can afford it and it floats their boat but lets just call it like it is
Aug 18, 2017, 2:14 pm
#11
Original Poster
Join Date: Aug 2017
Posts: 5
Idk what 2.5% fee you're talking about with ML/BofA. It's free. You just store money with them and use Merrill Edge, etc. There's no fee. They pamper you and will of course offer you other products and services (like the Octave).
I think I'm just going to ask ML to compare Octave and Centurion. I've heard that your banking team can often get you a Centurion invitation, so I'm sure they'll be familiar with both.
I think I'm just going to ask ML to compare Octave and Centurion. I've heard that your banking team can often get you a Centurion invitation, so I'm sure they'll be familiar with both.
Aug 18, 2017, 2:29 pm
#13
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
@YClass - what are the top benefits of the Centurion...
http://www.flyertalk.com/forum/ameri...ry-2015-a.html
http://www.flyertalk.com/forum/ameri...n-benefit.html
http://www.flyertalk.com/forum/ameri...um-status.html
http://www.flyertalk.com/forum/ameri...tes-gifts.html
http://www.flyertalk.com/forum/ameri...d-holders.html
http://www.flyertalk.com/forum/ameri...ts-2017-a.html
Aug 20, 2017, 12:07 pm
#14
Join Date: Jul 2014
Location: SFO
Posts: 266
Idk what 2.5% fee you're talking about with ML/BofA. It's free. You just store money with them and use Merrill Edge, etc. There's no fee. They pamper you and will of course offer you other products and services (like the Octave).
I think I'm just going to ask ML to compare Octave and Centurion. I've heard that your banking team can often get you a Centurion invitation, so I'm sure they'll be familiar with both.
I think I'm just going to ask ML to compare Octave and Centurion. I've heard that your banking team can often get you a Centurion invitation, so I'm sure they'll be familiar with both.
My point is, most people won't just park cash just to receive Octave. So they invest and rack up management and transaction fees. Gross fees tend to be around 2.5%, but are you beating the market or even comps?
Aug 20, 2017, 12:09 pm
#15
Join Date: Jul 2014
Location: SFO
Posts: 266
Sorry to burst your bubble, but I have the Cent card for the benefits, not the status. However, it has been a tougher decision lately since the benefits keep getting reduced and nothing significant has been added.
Not everyone who has a Cent card is bathing in tubs full of Cristal or blowing their nose with hundred dollar bills. In fact, most of the time I try to AVOID actually using the Cent card because I would prefer that people don't see it.
Not everyone who has a Cent card is bathing in tubs full of Cristal or blowing their nose with hundred dollar bills. In fact, most of the time I try to AVOID actually using the Cent card because I would prefer that people don't see it.