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36 comments
💳 Amex Platinum Calculator: http://bit.ly/2BEUufO
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If you recently opened up your Amex plat recently before the changes you get to double dip in the old perks and the new perks (for example 10x gas/groceries and $240 digital credit) 🙏🏾
I love this card… the credits is just service level stuff. The benefits alone are still worth it for me
Have you noticed that the CITI Prestige is no longer on CITI’s website?
giving us more status!
Bruhhh I’d rather have a credit for McDonald’s then equinox gym that I have never even seen before.
Will all these be on the Charles Schwab platinum card as well ?!
Awesome video mate!
Hey Sebby I applied for an Amex card and they have my app on hold for further review. I called the reconsideration line and they said they need proof of my income. Why? I have 3 chase cc why would they need verification? Just curious.
This is your job?
Bye Amex
So I signed up for the card in May and paid the 550$ fee. Surprisingly, all the new benefits were added to my card in July without any additional fees. Not complaining here!
Maybe this is to get people to cancel?! And then they are left with the most profitable customers.
I don't understand what is going on with this comments section. Who is getting an Amex platinum card without having a decent use for a $200 hotel credit? Travel is the entire point of the card!
"I DON'T USE EQUINOX" – alright value that at $0
"I DON'T USE PEACOCK" – Yes, they want new customers, value it at $0 if you're not interested. Please don't pretend that everyone is valuing the fact you can use it on Audible at $0 though
Good if you are a frequent traveler
I'll keep it.
Just to get this out of the way, there's value to be found in the Platinum card. I just don't agree with AMEX's decision to shift this from a travel to an "entertainment" card. Card members did not ask for this. Regardless of whatever credits were added to the card, it is still an annual fee bump of nearly 25%. For stuff and perks folks normally would not have spent money on. The card can be best described as a "coupon book style card". Who thought the NY Times was considered entertainment? x3
A competitor has already reacted. Citi quietly pulled their page for the Citi Prestige offline the same day AMEX announced the Platinum changes. It was planned because the message CSRs are giving mention product change requests for the card ended 19 June. No doubt the new head of U.S. Branded Cards and Lending for Citi, Pam Habner is paying close attention. After all she launched the well-received and straightforward Custom Cash from out of nowhere. Stealing the spotlight from Wells Fargo's Active Cash. Also most likely responsible for the positive change allowing the Double Cash to essentially earn TYP as a catch all card. A little background on her, prior to Citi she was at Chase and was responsible for their portfolio of credit cards to include the highly successful Sapphire Reserve. She has also worked at AMEX to help launch the Costco, Delta and Starwood Hotels cards.
So it's very likely the Prestige is undergoing a refresh and all Citi simply has to do is make it a straightforward premium travel card (it was that once before the 2017 devaluations). The current strengths of Prestige is it earns the most points on spend for dining. If they transform it into 5x on restaurants and travel (akin to the Sapphire Reserve), possible a bump for the Travel Credit and perhaps restore the complementary Admirals Club lounge access; they have a winner. This will definitely attract disappointed folks from AMEX who want a straightforward travel card where the value can be had without much effort.
From there all they have to do is get more transfer partners to back up that 5x TYP earning potential. No need for gimmicky portal boosts to make points worth more. A simple proposition that you can redeem your points for 1 cpp as a direct deposit, the Citi Travel Portal, or simply just transfer the points to partners. With AMEX pushing the annual fee ceiling to $695, Citi can launch a refreshed Prestige at $550. Of course, also restore the travel protections, insurances and perks.
I'm excited to see what Citi unveils because the premium travel cards have been stagnant for awhile. Chase is content with resting on their laurels and all they do is pump the SUB for the Sapphire cards. Honestly, the only other premium travel card issuer to do anything positive was U.S. Bank by making dining a permanent part of the Altitude Reserve's $325 Travel Credit. At least, U.S. Bank sent surveys to card members about potential changes to the AR.
does anyone know if he said when this was going into effect. sorry for being dumb
Sebby, question On The $200 Hotel credit . If I book FHR and they do this thing like $180 is due now and $70 due at hotel. Does that mean I will only get the $180 credited for this booking? The remaining $20 will be used on the next booking?
Or if I pay balance at the hotel using platinum card, I will get the remaining $20?
😎❗️
How much did amex pay you for your BS review. After 15 years with this card will be cancelling and a thumbs down to your review
I have the Platinum & Hilton Aspire, and we just got back from a vacation where we stayed for 5 nights at the Waldorf Astoria Orlando and they upgraded us from one of their Deluxe basic rooms to a King Suite w/ balcony. We really enjoyed it, though I had to explain 3 times that it was a “complimentary”(free) upgrade, rather than an upgrade at full price. I had to go get the final bill changed at checkout because they were still charging us the full amount. They changed it and apologized that it was an error, but it was still a little frustrating.
I wish they would make this a real world travel card. It’s basically just a flying travel card. I travel by car and I loved the 10x gas points. They just need better real world things plus most of the credits are just stupid. Customer service is great tho
I have the Platinum because of Sebby's META for moving into mid-game (it was my first Amex card, got the 100k + 10x gas/groceries bonus, then acquired other tasty Amex cards). I'm in the black by $400+ on the Platinum after the annual fee, which is nice, but the card is a worse mismatch for me after the new changes. Equinox = $0. $200 FHR credit is near worthless; I'd give it $10. I would have to go way out of my way to book those hotels just for the sake of utilizing the credit, which is asinine, and just adds opportunity and realized costs. Digital subscription = $0; if it included Disney+, it'd be worth face value. My card renews at $550 this November, so I got a year of the old Platinum and the new Platinum each for the same cost, which is the main reason I'm renewing, since Amex is effectively paying me to be a cardholder. I wouldn't say it's a "keeper" card, certainly not for the vast majority of people who won't/can't use the credits. Chase Sapphires offer real-world value, Amex is making it clear that they want to bisect the market (Green/Gold for the proletariat, Platinum/Centurion for the bourgeoisie). Sure, I've gotten value from the lesser perks of the card (Amex offers, Amex travel discount, MR points @ Amazon), but those can be had with the Everyday or Blue Business Plus cards, which have no fee at all. Centurion lounge access is undergoing a huge devaluation from the point of view of families, and vice versa for road warriors/solo travelers.
This dude is sugar coating everything and making this seem like an awesome deal. I’ll renew at $550 but not $695
Maybe I missed this somewhere but did anyone notice that the Saks credit appears to work for authorized users now too? Wondering if there are some small updates to existing benefits as a part of the refresh.
how about additional cards?
Hey sebby. 👋 for those of us that continually get new credit cards, how many inquiries does someone like you carry on your credit report normally? At how many inquiries should I start getting worried about getting declined for cards? (Assuming we aren't talking about the 5/24 rule.) I have a 780 FICO. Your response to these questions would be greatly appreciated.
Great video as usual and thanks for the updates. Seems like the new features are being targeted to people who live in big cities and travel a lot. works for me.
Just got my Amex Business Platinum with $595 Annual Fee and they gave me 150K Membership Rewards Points if I spend $15K for the first 3 months! Not sure if I have to pay $695 Annual Fee next year? I also have CSR.
I have the platinum. I live Manhattan too, but don’t want an equinox membership. Can’t use the other stuff really. Will probably cancel or downgrade. $695 is too much.
Dear AmEx Intern, if Netflix/Amazon/Hulu won't be part of the Entertainment Credit, how about HBO MAX and Paramount+? I would take a Headspace credit too (prefer over Calm). And agree with the person below on just keeping the PayPal credit!
"Keeper card" lul
Why didnt they just keep the platinum and make a new card? Like Amex titanium?
Does is make since to have a Amex platinum and Chase Sapphire Reserve now that the credits offset the annual fee? I have Amex Gold and CsR now
Do you get the credits every calendar year or actual year?