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Great review Sebby! I’ve been an Amex holder since 1986 and Platinum holder with 1 authorized for half that. I’m good for $150k-$200K spend a year. Never called for a retention offer. If I call do you think they would waive the yearly fee? If not, Id be looking to switch to another credit card.
Equinox is utterly useless for the vast majority of the country, so the $300 credit is uselsss. Makes AmEx seem like they only care about NYC and Cali.
✈️ Seeing Amex continue to nerf themselves is really making me look at them in a different light. It just goes to show that no bank is really your friend and you don't wanna be married to just one in particular. Obviously these changes (mostly) suck on their own, but this is just yet another round of negative changes from Amex this year, and it's feeling more like par for the course at this point in my opinion.
Losing Audible is a big hit for me because I use that was where I got the most value for the digital entertainment credit. Long term I was looking at the Schwab version of the Platinum but without the bonus does it make sense?
@@shirusun9062that’s what I just got. Even though everyone on RU-vid is calling it dated, it’s perfect for my situation. Sometimes we can be caught up in the hype and completely overlooking what’s best for YOU
Let’s just say the AU charges is forcing me to look at Chase Sapphire Reserve after 20 years with the Platinum. Will see the retention offer, but not expecting much.
I’ve never experienced overcrowding but I also rarely fly in the middle of the day. If you’re comfortable with red eye flights or flying earlier than 9am, the lounges will always have seating.
I fly during day. I just used Denver Centurian Lounge 2 weeks ago. I travel a lot and use Centurian lounge at least once or twice a months. Most frequent include SFO, Denver, Houston, and Las Vegas.I never seen long lines except when lounge opens for day. I never had issue finding empty seat or table, though lounges can be full. I never had issue using showers. Side note SFO I have used a lot and it is about 3 times size and lots of room.
I think a lot of people will cancel it specifically small families, that don’t use the lounge as much, yet keep the card for 1 or 2 trips per year, and now will get more value from chase,
✈️ The authorized user fees are going to hurt me big time. I have the Morgan Stanley platinum where I was getting 4 AU cards for $175 total. I got them for my family for the lounge access but I likely won’t be able to afford them all next year.
I have 5 AU good lord I definitely have to see if they can afford it because it was a no brained before and only using it for lounge and tsa but now it might be cheaper to pay for entry
I finally canceled mine this year. I don't live in a city with equinox and the lounges were crowded and not worth it to me. I kept my Chase Sapphire Reserve though. Or at least for now.
Losing Audible sucks so badly. Ugh! The lounge situation doesn't bother me. I live in Los Angeles and I travel to NJ a lot. You can get into the lounge at LAX if you're flying internationally. And NJ doesn't have one. The only time I've been a Centurion Lounge was in Houston & Vegas. I tend to go into Delta more.
✈️ the worst part is not being able to get a SUB for the other platinums. I was just thinking of applying for the CS a week ago. Now it may be too late 🤷🏽♂️. But second worst for me is the removing of Audible, as that was a 100% credit for me. Since we already paid for it prior. the AU part doesn’t affect us as P2 has the biz Plat. So we both can get into centurion lounges. And IF it helps make them less crowded I’m for it. I’m just not sure it will.
Most people that hesitated to apply to the other versions because of prioritizing 5/24 or just getting in late in the game just lost possibly 200,000 MR. Moral of the story is that rules will get tighter and the game will get harder. Eat while the food is hot.
Amex gives out less sign up bonuses and charges higher fees. Just more glutton for punishment for Platinum card users in addition to the highest annual fee of $695 and the tiresome huddles they need to jump in order to recoup any of it. Not to mention the highest interchange fee of almost six percent to retailers. Greed has no bound. Don’t know why Amex cardholders put up with this year after year when they could get the Capital One Venture X and make $5 every year.
I believe the 6% was back in the day. It’s been decreased over time since then and barely slightly above Visa and MC. Hence why a lot more merchants have started accepting Amex.
I just realized AmEx has been doing offers with Scribd which is an Audible competitor. I would LOVE if they covered that with the digital entertainment credit instead.
The one bonus per lifetime change certainly sucks. I have devalued MR heavily because of it and will probably be leaving the Amex ecosystem long-term after I do one last transfer to ANA. Sucks because I was planning on using that MR towards the Maldives.
If Amex is going to penalize cardholders with families then they should take it a step further and penalize single cardholders too by disallowing guests 18 and older. Restrict lounge access to cardholders only and only allow them to pay for guests not old enough for a credit card (12 and under).
@AskSebby: Audible vs WSJ is no contest! Audible has much more value. This one change is the worst because there are many, many folks who have been using audible religiously!
The TLDR as far as I remember is that you need a combination of a certain amount of cash in the account (25k?) AND maintain a certain amount of direct deposits coming in (5k or so per month) to qualify. Could be wrong - its been a while.
Increasing AF or charging more for AU is fine with me - my MS plat should catch all that. If they limit lounge access though… that could consider me to dump them.
This will not reduce the crowds in the lounges. Married couples traveling with kids tend to be way more wealthy than singles so they will pay for access for the whole family whether authorized user etc.. a lot more millionaires were created via 401ks since 2019, people will spend for what they want. They have been for the last three years, Europe is jam packed with Americans. No bank will so no when there is so much money to be made. They will raise the price and families still pay.
This is Ridiculous. instead of expanding the lounges to accommodate more guests they instead penalize cardholders. NY, LA, TX lounges are a complete mess. Not a good look AMEX.
would be great if amex added Apple One Premiere to the entertainment credit. It has Apple News+ which already gives me access to WSJ and NYT. Or any tier of Apple’s entertainment offerings even a la carte (Music, TV+, Fitness+, etc.). I do hope the Centurion lounges get less crowded with their changes (though still a better option than the super packed Priority Pass lounges) since I don’t always fly Delta to use the sky lounge which is amazing at LAX.
Just came back to Amex Plat after 18yr hiatus, grabbed the 150k bonus and immediately signed up for all the perks after watching one (several) of your awesome vids (cheers!)... that being said, also did the $175 AUs for wife and two teenage kiddos that we travel with (2-3 times/yr). Been in the lounge twice now and this is what I see, either 10 single/double travelers taking up 10 tables, or 40 families taking up 10 tables... so is it food/bev cost or just headcount they are trying to alleviate? We fly American quite a bit, so maybe I cancel AU cards and pickup AA Exec Plat MC, as their lounges allow families? Between my Delta Plat and Amex Plat, prob spend $75k/yr, which some will now flow to Citi MC... does the math really work out for Amex? Maybe they should tie lounge visits/creds to spend? Having just re-signed for Amex Plat, I'm not happy with this change!
I think it makes sense from a business perspective. AUs are somewhat of a pain in the ass for card issuers. The only reason they allow those is because they get some additional customers but it causes lots of issues with the perks. For instance, the lounges are very useful to business people if they are somewhat quiet and comfy, so you obviously do not want families making noise in there. In the end the business people will cancel the card because they won't get the value out of it, yet they would be much more valuable customers than AUs (which are often children). I know this is an unpopular opinion but as someone that likes to work while travelling, I'm happy to pay simply to keep kids out (if having a platinum does that, cool, if not I don't see the value). That's also the main reason to book business class, I don't care about the comfort that much but reducing the likelihood of a crying kid, is often worth quite a bit. I guess a lot of these issues could be solved by introducing family and non-family sections.
Last times I was at lounges, there were lines, and it was crowded, especially in Dubai for some reason. I travel solo, so for me the AU changes are not important but I wish we could have kept Audible.
The more people game the system the more people like me will suffer because of these changes. I appreciate the $195 per added user because this will probably make the lounges less crowded.
🛫 I’ve been waiting for your video since the changes were revealed! I’ve been considering AU cards for my wife and daughter, who are planning a few trips in the next year, but not any more. If this results in smaller crowds at SkyClubs and Centurion lounges, then I’m all for it.
They’re doing everything they can to get rid of the people who are clogging up the lounges. They can raise prices and make the customers mad, but as long as people want to flex or try to chase a Centurion Card invite, the top tier customers aren’t going anywhere.
Canadas annual fee was raised to $799 recently so stands a chance that would happen here maybe even more. They have def ruffled some feathers with the $195 AU fee but I don’t think it’s that big of a deal.
Nobody sees your credit card anymore. You tap or insert it yourself. Only time credit card is seen is paying dinner out. And if you want to impress the waiter (what for?) put down a hundred-dollar bill or a couple of them.
Obvious question: I have almost 400,000 Amex points/ may I contact you to help me plan a really nice trip? I feel like on my own I’ll mess it up with transfer partners etc? Nice video by the way. And yep the lounges are always crowded to the point where I skip it when traveling, so it’s not a benefit. Also, guess I’m old and can’t find the Airplane imogee 😢
Damn Sebby,.. I can tell you had your $12 (cash only) haircut today,.. $15 with tip. I love the new Amex Platinum AU Fee change. Less waiting time at the Centurion Lounge bar for my cold beer 🍺.
I never understood why Amex makes its members jump through so many hoops to enjoy card benefits. Airline credit but only for 1 chosen airline and only for "incidentals." Uber credits but only $15 per month, but they expire every month. Hotel credit but only through Amex portal, which is more expensive. $100 Saks Fifth but only $50 at a time every 6 months. The only thing that's straight forward is lounge access but priority pass is not exclusive to Amex and there are too few Centurion lounges to matter. Makes you wonder who Amex is trying to target....the same types of people who spend like this don't really care about saving a few bucks...
FYI. Lark creek priority pass restaurant at SFO does not work with the AMEX priority pass. Only the Chase CSR Priority pass. Another change AMEX made that suck is removing restaurants from their priority passes.
Canceling next year for sure unless I get a retention offer. Amex has just become too much a hassel to make sure i get my maximum value. This year I have been to the airport a good 8 times and haven't been able to acess the Centourioun lounge due to the ridiculously long lines. It's just become obsolete at this point.
All this talk about relieving lounge crowding sounds like Deja Vous. Remember when all the talk about how requiring 75K spend to bring in guests would fix the problem? Evidently, it did NOT. Interesting to see what will happen with these new changes.
If CS and VX can keep their rates like is or close too, I think now, they’re about the only real logical options. I dont want CS and VX to see an opportunity to raise their rates too. So far CS seems to Me the most logical, the longues they offer rn (albeit a few) are almost on par with CL’s (if not better). Amex raised their prices and downgraded, that is not gonna bode well for them long term, especially when most people are looking for ways to better spend their cash. Now, Supposedly there’s a theorum that that’s the point, less customers on Plat = less CL access and this addresses the overcrowding. Still, seems like a terrible idea thou, They’re hurting their overalls product to save a part of it. Hopefully, If the influx of potential Amex customers who wanna now shift towards CS or VX doesnt increase drastically, we should be ok I think. The last thing I wanna hear is the same excuse told by the other Companies.
Yes, finally! Raise those fees... Expand lounges... Make Platinum Great Again! Got my Platinum in 2010 back when it was sparse and hyped like a Centurion. Another great video, always enjoy your thoughts and inside and breakdowns.
✈️ sebby, I work for an airline. Would you recommend getting the platinum? I was thinking about getting a Delta Amex or a Hotel Amex because I have discounted travel. Oh and no I don’t work for Delta.
✈️ I’m kinda excited about the WSJ addition but have the majority of my credit going towards SXM and Disney +….. do you have another card just for streaming? Possible cash back?
When I got the French Platinum they promised 400 Euros restaurant credit (200 in France and 200 elsewhere in the world). A month later they dropped 200 off of that advantage with no warning and no replacements. Not cool.
Not sure if its just Canadian Amex users, but we got a letter indicating a change in points for restaurant purchases. Its gone down from 3 points per dollar, to 2 points per dollar.
Have had Amex Plat since 2010, before the credit card point craze took off. I will be cancelling it before my next AF hits. I have 3 AUs on the account. It's just not worth its AF anymore.
Hi Sebby !! My sights were on getting the Delta Amex Platinum & willing to pay for limited lounge Access. Are they truly removing this perk from the card ? I don't see the Delta Reserve card as a better option given it's poor multiples. What do you think ? Thanks, Jonatan M.
There is no way they could raise the annual fee right now unless they revamp the card. With the even further (rumored) changes to lounge access as well as the very-soon-to-be lack of value for Clear, the card is already priced too high for what it offers.
I'm up for renewal on my now weak Amex Plat. I'm thinking about canceling it and just use my Gold to get points. Apart from lounges that are being limited, I feel that I'm paying more on the fee for less benefits. What are your thoughts oh wise Sebby?
I think Americans can look at what AMEX offers to their Platinum Card members in other countries to predict what may happen when AMEX tries to squeeze the card members in US. Their offering is much worse in other countries vs. that in US. I have a Platinum Card before from Hong Kong and Canada. In Hong Kong, the only benefit is USD 250 of dining credit and global lounge access. No UBER, no nothing else. You do get 2 free Platinum AU card with lounge access, but the basic card annual fee itself is USD 1220, which is almost double that of US. In Canada, all you get is global lounge access and USD 150 of airline credit. Again, no UBER, no nothing else. And it has always been that you have to pay USD 140 for each Platinum AU card with lounge access. That said, the annual fee for the basic card is a bit lower than in US at USD 630. So if you look at these features, you would find that the US cards are actually the outlier for free Platinum AU card, and there are still way more benefits. AMEX just needs to look internally at what its overseas operations are offering and it would continue to find a "rich" ground on what perk to cut or what fee to increase next for the US members. And it still has a lot of options.
✈️Sebby, I’d love to learn more about how to get approved for the Morgan Stanley card. I have a family of 5. My wife was an AU on the card for years and I only recently became aware that I could add two more AU for the same fee I was paying for her initial AU card. I’m bummed that I now have to pay significantly more for this.
These new changes and minimum $75k/annual spend is delicious on thinning out the lounge access. Amex needs to clear a lot of the Gen_Z people out of the lounges point blank. The barrier to entry was too low coming out of COVID. I get tired of walking into the lounges as a business traveler to find a Gen-Z flophouse. Including them sleeping in the phone booths where they should be for phone calls to keep the lounge quiet. I get annoyed having to get staff to kick them out for what should be common courtesy. The fees hikes and minimum spend are a good start.
✈️ I love the perks that the cards offer and my husband is an AU on mine- for now the $20 increase in the AU fee is not that big of a deal but I’m hoping that they don’t increase the AF for the Amex plat too much in the near future
✈ 1) Don't care about the one Platinum rule. I would only get one card anyways. I stay away from the 2 co-branded partners. 2) AU fee increase, no impact, don't care. Player two doesn't travel with me on planes. 3) I don't have any insight into what's driving these Platinum changes. But if AMEX keeps this up, I may be cancelling. I love Centurion lounges, but they are making it harder to justify keeping the card for me. I also don't go to Vegas, so using the hotel credit means I may have to spend more than the credit in order to use it and it's not worth it if you didn't plan on going to that hotel. 4) I use the Sirius XM credit. It is a good alternative if my ipod craps out. Plus I get traffic and weather for my car's infotainment system when I have long drives.
✈ with an authorized used, does the primary and the player 2 get uber credits and Saks credits? Or is this only if the primary hasn't used these benefits?
Sebby what’s your 5 amex CCs, and what about your p2 or Mandy’s amex CCs? With the intro bonus spend requirement increasing I can see it as a way to justify elevated offers more often, what do you think? ✈️
✈️ I just put my 3 college kids on in June. They are studying abroad and will be traveling. I wanted lounge access for them as they don’t have airline status. Any other suggestions for cards? Am Ex after 40 years a card holder seems to be pushing customers away, even at the 90k spend a year.
✈️ excellent video and analysis Being blind, yes, I “watch” YT to listen to topics. Would love to see any content on travel, travel industry that has services to those with disabilities.
✈️✈️ So, the intro bonus rule is effective since now? Or do I still have chance to get the vanilla version just for the bonus? I have the Schwab version ✈️✈️
✈The AU change does not affect me. I am said Audible is leaving(?). Working out if the Disney bundle is right for me. If not I will probably cancel the card. Might cancel my Personal Gold and probably my Business Gold as well and just keep my BCP to keep the points.
This year Amex had NO retention offer for me. Also I have 3 Authorized users (wife and 2 children). So the change in AU fees and no retention offer I’m out.
I like the change. Will I now be able to add more than 3 additional cards to my account now? Also Amex needs to significantly raise the annual fee for the card and stop giving it free to the military, give them a gold card.
The military members with free cards represent a tiny portion of overall cardholders. There’s no reason at all that benefit should be removed for them.
