Jay66

Are there any benefits with RESY as a centurion customer? I know with platinum they have some sort of partnership.

NYtoCHI

I believe it’s the same Global Dining Access as platinum members get. I haven’t seen a difference with Centurion

Jay66

It would really be nice to see some sort of benefit here like AmEx having a dedicated table for centurion members at certain desirable restaurants.

WasKnown

Yeah, good luck doing that in the situations described above. You live in NYC and your friends have decided on a last minute trip to Zurich. Everyone booked the same business class ticket that leaves in less than 1 week and you want to come to. You need to book a ticket for yourself and a girl. Will there be J award space on that flight for two people? Maybe if you are lucky but most of times, not at all. The number one rule of thumb for award travel is to book your flights way out which is just not appealing for many people.

This is especially helpful for people that are sitting on balances of millions of MR. Although excess MR is cheaper to cash out than UR is with Schwab, this does little to help people that want to rebate spend from their businesses for personal use. The fixed 2 cents / MR redemption is very powerful for this group: high spenders that care about value but not about pinching pennies on award travel.

Bm86

Well being a Goldman Sachs client definitely gets you the Centurion invitation. I got a phone call and email this morning inviting me to apply for the centurion. I called them back and accepted the invitation to apply and was approved after a 30min phone call. Card will be delivered on Monday.

gnomie

Yesterday I had dinner with a client and was surprised to see him pull out a plain ole Visa card instead of the Centurion which surprised me and I asked him why. The response - his security team advised him and all family members who are AU to put away the card until after the holiday season and New Year due to safety and security concerns. From what I understand, one instance provided, especially at high end malls, there have been a string of robberies by very well dressed individuals "pretending" to be shopping but are actually stalking out potential victims and observing method of payment. This is interesting because this past weekend I was actually shopping at such a mall and at one store where previously one put the credit card a tray which was then taken to the back to be processed and now they instruct customers to discretely hand over the credit card directly.

shawnwahi

Congrats on the card! Are you a GS PWM client (10M+ according to online sources) or managed investments client (750k-1.5M)?

Bm86

I’m a GS PWM Client. I ended up getting the card for my girlfriend as well. We both didn’t choose any art cards. Went with the original but chose the Prada wearable but they said it will be a couple weeks for it to come in

shawnwahi

Got it! Would you be willing to share your annual spend on AMEX cards as well? I'm wondering if you had high spend + PWM or was PWM alone enough.

Bm86

Of course!
2019 - doesn’t show online anymore but it was around $500k on platinum Amex
2020 - $979,000 on platinum
2021 - currently just under $1,400,000 on platinum

i have a couple other Amex cards, but combined those spends are under $100k.

WasKnown

What was the process for getting it like? Purely on the GS side? A mix of amex and GS? Do you know if you can get the biz card through this?

Bm86

so once I heard about it being a thing Goldman Sachs could help me get, I contacted my the team at GS who manages my account and they had me sign a form to release my info to Amex. They said Amex would contact me within 7-10 days to let me know of their decision. One person from my GS team emailed me today saying I should receive a call from Amex shortly. They called and emailed me about 2 hours after they said that. Then the rest was done on the phone through Amex, the normal questions were asked to get approved and then they went over the benefits.

I would honestly say GS played a much bigger role in getting me this card rather than my spend. Even though for my area, I feel like my spend is fairly high.

I am not sure about getting the business centurion this way, but I can ask them and find out if you want me to

WasKnown

If you could find out for the biz card, that would be great. I’m also aware that GS PWM offers services for clients that already have their own family offices. I wonder if this relationship would be sufficient? Curious to hear your thoughts on GS PWM holistically. Thnx.

qnxr01

Yeah. I would switch to Goldman Wealth Management if my manager of the multi-family office that manages my money wasn't a close friend. And he's actually a really good wealth manager, who runs money for several Silicon Valley unicorn founders. He doesn't have an in with Amex Centurion, though.

WasKnown

Multi-family offices definitely directly compete with PWMs so fair enough. However, I wonder what relationship level would be required to solicit an invite. GS PWM offers many single family office services for UHNWIs. I wonder if that would be sufficient?