Was losing Costco business a blessing in disguise for Amex?
Sep 26, 2018, 2:19 am
#1
Original Poster
Join Date: Jul 2014
Location: LAX
Programs: Hyatt Globalist, AA EXP, Hilton Diamond, Wyndham Diamond, DL PM, Marriott Platinum, IHG Platinum
Posts: 1,305
Was losing Costco business a blessing in disguise for Amex?
Most people thought Amex was essentially toast when they lost Costco. But looks like losing Costco business and then the launch of Chase Reserve has woken up a sleeping giant. We have seen a slew of cards with great benefits. Basically, Costco's business was low ROE and what seems to have happened is it has freed up capital for Amex to invest and grow their other CC offerings. The exact opposite seems to have happened to Citi.
The two new Amex Hilton cards are probably the best cards to have among various hotel cards. The Amex Platinum is absolutely a fantastic card. Combine that with EDP and Small Business Plus, and it's hard to beat that combination. That combo is even the CSR, Freedom and Freedom Unlimited once you factor in the regular transfer bonuses you get. And now we are hearing rumors of a refreshed PRG that should make Amex indispensable for most spenders on FT.
Any thoughts? Are people on FT, and more specifically those following the Amex forum, spending more on Amex since the Amex Platinum revamp?
The two new Amex Hilton cards are probably the best cards to have among various hotel cards. The Amex Platinum is absolutely a fantastic card. Combine that with EDP and Small Business Plus, and it's hard to beat that combination. That combo is even the CSR, Freedom and Freedom Unlimited once you factor in the regular transfer bonuses you get. And now we are hearing rumors of a refreshed PRG that should make Amex indispensable for most spenders on FT.
Any thoughts? Are people on FT, and more specifically those following the Amex forum, spending more on Amex since the Amex Platinum revamp?
Sep 26, 2018, 6:12 am
#2
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Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Most people thought Amex was essentially toast when they lost Costco. But looks like losing Costco business and then the launch of Chase Reserve has woken up a sleeping giant. We have seen a slew of cards with great benefits. Basically, Costco's business was low ROE and what seems to have happened is it has freed up capital for Amex to invest and grow their other CC offerings. The exact opposite seems to have happened to Citi.
The two new Amex Hilton cards are probably the best cards to have among various hotel cards. The Amex Platinum is absolutely a fantastic card. Combine that with EDP and Small Business Plus, and it's hard to beat that combination. That combo is even the CSR, Freedom and Freedom Unlimited once you factor in the regular transfer bonuses you get. And now we are hearing rumors of a refreshed PRG that should make Amex indispensable for most spenders on FT.
Any thoughts? Are people on FT, and more specifically those following the Amex forum, spending more on Amex since the Amex Platinum revamp?
The two new Amex Hilton cards are probably the best cards to have among various hotel cards. The Amex Platinum is absolutely a fantastic card. Combine that with EDP and Small Business Plus, and it's hard to beat that combination. That combo is even the CSR, Freedom and Freedom Unlimited once you factor in the regular transfer bonuses you get. And now we are hearing rumors of a refreshed PRG that should make Amex indispensable for most spenders on FT.
Any thoughts? Are people on FT, and more specifically those following the Amex forum, spending more on Amex since the Amex Platinum revamp?
The same with consumers. We adapt to the CC changes. We have modest royalty, but never complete royalty. It is best to diversify to different reward systems. For me, I get AmEx MR and Chase UR reward systems. I also keep some CCs at BA, Citi, Wells Fargo. I just maximize whatever I can. I can shift spending to certain cards if they offer me better rewards.