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Hey Credit Warriors, welcome to the show, now a couple of weeks ago we put out a video about a rumored increase in the annual fee on the Amex Platinum card. The fee would go up to $695 and this increase would be combined with some new benefits supposedly coming in in Q3 of this year. The info came from someone called through the grapevine posting on the forum flyer talk. This person said that the card would be transitioning from a travel card to having more lifestyle benefits, and suspected maybe an equinox membership would be added, but this part was just speculation.
Well now we have another online poster called “work4amex” this time posting comments on the website Doctor of Credit, giving similar information, first I’ll read you out this person’s main post on the matter.
Post #1
Can confirm through my Intel that the Personal Platinum AF is planned to increase to $695 for new card holders starting July, existing card holders fee increase will come into effect Jan 2022 . There are other planned changes, keep in mind that it is all subject to change. Many of these changes should start July 2021
The 2 free Priority Guest passes will now be free only if you have $75,000 spend in a calendar year with the platinum.
$300 equinox credit
$240 entertainment credit
$200 credit for prepaid hotel bookings
$100 temp Resy credit
Everything else should stay the same
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46 comments
Prepaid hotel does not sound good . Prepaid is the issue. So it won’t work if it’s not prepaid? Why not just make it a Hotel charge credit. If it’s prepaid , it will be worse than Airline credit
Is Priority Pass going away or just the guest benefit? I didn't see it mentioned in the list of benefits you shared.
Lol understanding about restaurants needing help post pandemic but then pissed American didn't provide food on your flight. Dingus.
I didnt even know what equinox was
Hmmm love my plat amex but the increase in membership to 695 plus authorize user will make it possibly a 1000 per year club. Too high. On the fence here.
Just got an upgrade offer from the Green card to the platinum for 75,000 points. Already have the Schwab platinum. Should I upgrade for the points?
I think I will cancel my Amex Platinum. I'll go with the Sapphire Reserve.
I have recently moved out of state, and my Plat is really useless here, and seeing these future changes, I have decided to cancel my card before my renewal date. So, maybe I am going to apply for a hotel cc, maybe Bonvoy or Hilton. What do yall think it's better between these two competitors?
Spend $75k a year 🥺😩😂😂 i guess they want folks to spend their entire yearly salary. Just say, you want to make card exclusive
Well, I spent $210,000 on my Plat Amex last year. If it becomes less travel and more lifestyle – I'll get a different card.
The Equinoxes in NYC are already so crowded. And many people with Platinum cards probably already get free or reduced Equinox memberships from their employers. For those of us who don’t live in NYC or LA, its completely useless.
Wow 這不是老外看中國的郝亦博嗎？太酷了
I have the Morgan Stanley Amex Platinum.. mine is free and they give me one for my wife that is free as well. Its the best deal going and no one every talks about it
Equinox "credit" is useless. $240 in entertainment credit is useful, if it's the same as AMEX did in 2nd half of 2020. That alone will save me $45 even with increased annual fee. Lounge access doesn't bother us, since we don't fly often enough to moan about that.
So for airline credit, Southwest works like a charm!!
I just got approve for this card yesterday
Should not have made any changes period.
Mostly useless benefits, which I can get from other cards without high fee. Even AMEX offers are basically cupons and you can find even better deal without fee.
This is garbage if true. Higher fees for more crap benefits. I’d be leaving AMEX.
The offers that rotate often with retailers are a real key thing to consider also. The best buy one from a bit ago for essentially $100 "free", and the several others I have used to get more value. I know amex has offers for all their cards but plat gets better ones I find. Platinum/Rose Gold is my one-two punch for the foreseeable future.
I have the Platinum Card but I spend roughly 60k a year or 5k/month. Im 22 years old and do well for myself but I dont spend on unnecessary stuff. Ur telling me if i want to take someone on vacation w me I have to pay an extra 50 bucks to get into the centurion lounge for the girl lol? The point of the Amex card is for that status and should let everyone into their lounge if they have the plat or black card
Can we also talk about how the credit is for $300 and the starting membership is $2,200/year plus a $500 initiation fee? So it won't even cover your first-year initiation fee and it will make it 1,900/ year afterward. What a deal…
Ree-see
When are they going to update the Sapphire Reserve Card?
We gotta find out if Equinox clothing would code as equinox.
My local equinox gym has a small clothing store inside. And I gotta say their athletic clothes looks pretty sweet.
I bet they removed the guest pass's to the CL's due to COVID 19 and they may re-instate that in a few years.
Current member…now looking at Chase Sapphire Reserve. After the Priority Pass debacle due to Covid, the Amex credits are seemingly worthless.
I think I will cancel the card
For those who has an Amex reserved card can they go into the centurion lounge ?
The equinox thing is so dumb. Like what, a month and a half free. Big deal. Plus unfortunately for Gyms, the home networked gym is the future. Making the. Fee so high and taking away favorite benefits will not bode well for Amex.
Yeah…off to Chase Sapphire I go.
This is benefits gone wild and by wild I mean drunken uselessness. I live in Colorado and you are right, No Equinox in I did in NYC. I don't need my platinum to choose my gym or even go that personal. Centurion lounge is really disappointing. This card is no long making me feel comfort when I travel. I would cancel but, that would be a foolish credit score mistake.
Well looks I’ll be downgrading and moving to CSR…
Meh. With additional authorized user card, total annual fee is $840.
Had platinum card for 15 years. This might be it for me. Chase Reserve won.
Contrary to many people here, I do welcome the more restrictive centurion lounge access. It’s too crowded all the time. There’s usually more open seats right outside the lounge than inside.
Here in The Netherlands the card cost already EUR 702 annually, that's $ 848,05… 😉
I don't like how much of a coupon crusader card it's becoming. Like, even if you live that super luxurious lifestyle, you have to micromanage so much to make the cost back.
Credit Cards should be simple and convenient, not complicated and stressful. Chase Saphire Reserve is starting to look much better right now imo.
So we can't bring our children into the lounge?
If Amex does take the free guess for the Centurion Lounge, and increase the yearly Fee, and offer the GARBAGE Equinox credit that is useless. I will definitely cancel amex completely. I can care less about Gym discounts, Streaming services. Leave it as it, and we'll stay in business. If Amex try to charge more for benefits they don't even pay for, and take benefits we actually use down. It will be the breakup point for many with Amex.
Canceling mine tomorrow. F Am/Ex. Chase Reserve is the way to go.
Might ruin peoples trifecta and completely switch to chase points
I will cancel my Platinum card if the equinox credit is true. Very few people will be able to take advantage
its amex testing waters.
REsy is short for reservations so more REZI than Reece Weatherspoon 😛
No equinox gym near me at all. This would make it completely pointless because I would be trying to make up that extra money by having to buy stuff.
sapphire reserve looking wayy better
Don’t mess with the airline credit………it’s money in your pocket. I fly Southwest for short haul flights a lot and charge it on my platinum. Any fare that is under $100 will be a direct statement credit.