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In this video we take a look at Amex earnings, the Amex Platinum helped the company beat analysts estimates for the Q2 2021 earnings which came in at $10.2 billion.
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46 comments
First! 🥇
Definitely due in part to all the new signups from insane welcome bonuses on annual-fee cards over the past 6 months or so 😬
Just got the 125k offer today, looks like they will have 1 more customer
I love this card. Just sad I missed out on that CRAZY 15x MR point offer. Wish I'd waited 😂
Make Shifu Great Again!! Love the Patriot Flag baby!!!! God Bless
Even your "chill" videos are awesome 😎. Love your channel!!! 💘💘💘
Amex isn’t going anywhere. A sleep well at night stock.
Oh, it must have something to do with that great equinox benefit they gave us 🤦♂️
I'm not paying Amex to have a upgraded card. I love them. But I'm not paying an annual fee. I will keep my Amex card with no fee
Good to hear Amex milking more annual fees from the cardholders so they can maximize their revenue. They bump the fee for the AmexPlat by 26% and then dupe them with a monthly coupon book.
I wonder how much they are pulling in from their black card.
I love my delta platinum card!!
Tony – fashionable for wealthy people
The economic hardship , recession , unemployment and the loss of job caused by covid pandemic is enough to push people into financial ventures .
I got my entire AMEX trifecta between 12/2020 and 3/2021 (Gold, Schwab Platinum, BBP)
We won't know the full effect of the new Platinum Card until 2022, when people face $695 renewals. The fee today comes paired with a huge signup bonus. I am more concerned about the new branding, which many view as a "coupon card", than I am about the price. Many of us would happily pay double, $1,395, if it came with big useful credits, such as a free weekend nights at Hilton/Marriott, a companion pass with Delta, etc
Maybe Tony either is a typo for "top" or a reference to the Tony awards. Still weird though
Amex > Chase.
Every time
I never had an AMEX cc before. But they got me to sign up about 6 months ago. Got the blue cash preferred. $300 sign up bonus for spending a certain amount. Waived annual fee for the first year. Useful for my grocery spending
What would a card between the the platinum and centurion even have room for in terms of benefits? When simply making the latter more accessible would suffice.
Lol even I got a platinum card now lol this is real.
Tony is probably best explained as the American equivalent of “posh.”
A person making $40-$50k should be paying $695/yr for a Platinum Card? …. because the are so shrewd they can maximize a few travel perks? (and on that salary, should they really be enjoying world class travel?) Their time might be much better invested in trying to earn more than $50k. Just saying. Even tho the basis of my AXP shares is $17.
If they could extend the number of options for the $240 entertainment credit or even keep the PayPal one then it’s an easy keeper for most people.
Good luck with your cabin
I think their strategy is to offer such a great opening offer on the Platinum and pull as many people into the Platinum high annual fee as possible THEN release the newer higher annual fee card. That way they can double up on some customers paying for both. If they release the card now, they let the customer choose one or the other.
Amex's revenue surges, but is their income surging? I have received 150k point offers on the regular and business platinum this month. All those free points they are giving away create a huge liability. People signing up are going to use those points. Will it pay off over the long run?
Make a video on crypto master shifu
As an adjective, "tony" means stylish or sophisticated.
I signed up to amex platinum couple of weeks ago got auto approved with out uploading any documents credit score very high 884
Our annual fee down under is $1450
Sign up bonus is spend 3000 in 3 months and get 350,000 points
When I logged on today, I was invited to apply for my 3RD BUSINESS GOLD 😂
(well of course I said yes) 💳
tony means fashionable, hah.
I applied for two cards and so far im happy with em might upgrade the one when i can
I pay $1500 cdn in annual fees with my amex in canada, but I use all of them.
My wife and I both got Platinum cards due to the 100k offers, but the fee was only $550 and we were getting 10x for gas and groceries. The new higher $695 fee coupled with the lame equinox/streaming credits, means will will probably cancel the cards after this first year.
I may have to take the plunge.
tony means fancy and AmEx has a target group of high earners and spenders
This is the second most useless card I have.
I feel the only reason I got approved for 4 (four) American Express cards within the last 2 months is because they wanted more people applying and loosened their underwriting. If this was 2018 I feel I would have got declined for 3 out of the 4 cards. 🙂 However, I love American Express. I pay them off every month (or 4 days before their due date) and getting hella points. I got about 300,000 MR points and I only got the card two months ago!
Because of course it did! I absolutely love my Platinum and I really don't see any scenario I would cancel it (Unless we go back to a lockdown or something)
It doesn’t shock me that Amex is getting the better of the competition. They are definitely more geared to travel and traveling is extremely popular for the time being. Great video!
I believe differently. Amex is trending away from travel, due to losses, and moving closer to lifestyle. The Platinum has maybe 2 travel "perks" while the rest of the product is all lifestyle based. I am not paying $700 for any credit card, I'd rather invest $700 in Amex than pay them.
$1500 for one card would pretty much price us out at low 6 figures.
Ben needs to post his crypto wallet to see what his favorite coins are.
Nice to see the competition between Chase and AMEX (and maybe Citi?) is driving some real ingenuity. Very curious to see what the CSP and CSR revamps will look like given this news from AMEX.
Im lucky Dec is my renewal. Will stay the same for me. Will still keep the card. Too many benefits to pass up. Got the CS Platnium recently. Crazy amt of value with both and the Gold card. Received $1300 in points to my Schwab acct. use them to your advantage not to flex.