AMEX Centurion - I can't decide whether to accept...

[ManshouldbeBlack]

I am sorry for posting this here... but I really did not know where else to post this and I am hoping there are others here who can help.

Back Story - I have been an AMEX platinum customer for about 6 years and I just received out of the blue an invite to Centurion.

Now.. I'm no Mr. Rich, but I have spent around 120k this year on my platinum amex (most of it business related, not personal, but they dont know that), I have never missed a payment and am usually early and make between 100 and 200k a year.

My AMEX platinum costs me $900 a year; which is a lot, but I can justify it for the reward points alone. I also use the concierge a bit for restauraunt bookings, the travel insurance is nice to have, but I only fly international once or twice a year.

Now the Ceunturion is $4,300 a year and from what I can tell the benefits that are laid out in the invite and after speaking to AMEX are only marginally better and much of the mystique and sales/sex appeal seems to be this 'intangible benefit' of owning a black amex.

So.. is it worth $4,300 a year to float my ego? Nup. I can do other things with 4.3 grand. This card has to give me at least that in value. Flip side of the coin... my heart wants it as I am sucker for elite things.

I am sure there are those who are going to say if you have to think about it isnt the card for you - well I dont buy that. $4.3k is still $4.3k to me - even if was a gazzillionaire.

I would be seriously very interested in hearing from other centurion members what their experiences are like as to wether its worth the $4.3k. I mean if I am am member for 10 years thats a whopping 43 grand in fees alone. For that I expect a boat load of service. Is it really there? Help....

Edit - I should add that on the whole my Platinum charge card experience has been positive with AMEX. I'd give them a solid 7.5 out of 10 for service. They do genuinely try to please IME.

 

[DC3]

Re: AMEX Centurion - I cant Decide wether to accept...

I don't have any personal experience with the Centurion Card, but there's some pretty useful information here:

http://www.australianfrequentflyer.com.au/community/open-discussion/centurion-invitation-18706.html

 

[simongr]

Re: AMEX Centurion - I cant Decide wether to accept...

Just a couple of thoughts on this. I didnt think the annual fee was $4300 - I thought that included the joining fee?

That aside - would you consider using Amex travel for your flight purchases as with the Centurion card you would get free airport transfers which would save me at $3000 per year.

If I could charge my travel to my Amex I would have accepted the Centurion invite last year. Also you might be able to consider the fee tax deductible...

 

[ManshouldbeBlack]

Re: AMEX Centurion - I cant Decide wether to accept...

Just a couple of thoughts on this. I didnt think the annual fee was $4300 - I thought that included the joining fee?

That aside - would you consider using Amex travel for your flight purchases as with the Centurion card you would get free airport transfers which would save me at $3000 per year.

If I could charge my travel to my Amex I would have accepted the Centurion invite last year. Also you might be able to consider the fee tax deductible...

There is no joining fee in Australia - 'just' an annual fee of $4,300

Yes, I book my travel through AMEX usually. I would need to speak to my accountant to see if its legit to claim a CC fee as a tax deduction.

 

[QF029]

Re: AMEX Centurion - I cant Decide wether to accept...

I would need to speak to my accountant to see if its legit to claim a CC fee as a tax deduction.

Unless you're self employed the answer will be no. Or at least that's what I was told by a tax specialist at one of the big accounting firms.

 

[QF WP]

Re: AMEX Centurion - I cant Decide wether to accept...

I have always claimed my annual fee for my Amex Gold (now Plat) card that I use for my business related expenses (I have a separate Amex for personal expenses). Accountant has never had an issue. But I ensure that for the couple of items that end up on Visa, I don't try and claim that card annual fee as well, given they are merely incidental charges and there isn't the "business purpose" for the card.

My accountant is a second tier firm.

 

[Flashback]

Re: AMEX Centurion - I cant Decide wether to accept...

Unless you're self employed the answer will be no. Or at least that's what I was told by a tax specialist at one of the big accounting firms.

IME this is correct. Liken it to a laptop... if it's primary purpose is for business/work use then some/all of the fee will be deductible.

 

[MrSpokeyTokey]

To the OP,

I have an American Express Centurion card and in my opinion, unless you're spending over $250,000 a year, it's really not worth it.

One of my gripe is that the Centurion's benefits are not much more than the Platinum's, yet the annual fee is $3400 more!

Don't get caught up with all the mystique. It's a load of BS.
The Centurion concierge are no better than the Platinum's as they're both one in the same. They're in the same call centre, just different phone numbers.

Travel insurance policies are the same, with the Centurion at a higher payout. That's all. But the Platinum's insurance levels are not too bad in itself.
Seriously, how often will you claim on lost baggage etc?

Hotel, Priority Pass and Airline membership benefits are the same with the Centurion and Platinum.

So as I've mentioned, a spend level under $250K/year will not get you any extra points with the Centurion vs the Platinum.
If you spend $500K however, then you'll get an extra 125,000 free points on the Centurion.
This may go some way to justifying the extra $3400 in annual fee.

The only other benefit with the Centurion vs the Platinum is the 'Elite' factor.
This in itself is over rated. Most people don't know or even give a hoot about it.
Sure, I understand it's attraction, but if you'll have to weigh up how much this factor is worth to you.

I hope my 2 cents worth has helped.

Regards,

MrSpokeyTokey

 

[Worldtraveller8888]

With the limo services to/from the airport - does that come with all flights, or just those booked through Amex Travel?

 

[ManshouldbeBlack]

just those booked throuhg Centurion travel.

Also - the fast track service to get to the front of the line for customs and immigration also only applies to travel booked through Centurion and in both cases it must be a business or first class flight. It also doensnt apply in the USA airports.

I have to say after having a good long hard think about it over the weekend that I think Mr SpokeyTokey has nailed it - the benefits over and above my platinum charge card are very minor in almost all cases; making it extremely hard to justify the extra cost of going Centurion.

Doing the math on the extra reward points possible to earn with Centurion show that is clearly not worth it - an extra 125,000 points for the extra spend equates to only around $1,200 in rewards - no where near the $3,400 price difference in cards.

The extra car rental discount of 30% with Avis and a 2 tier free upgrade is pretty nice. But I only rent a car once a year or so and usually only for 5 days - a saving of maybee $250 for me.

Hilton Diamond status is irrelivent to me since I would rather stay at a nice B&B than any Hilton chain (and this has nothing to do with any cost differential).

AMEX have given me another 3 weeks to think about it, But at this stage I dont think I will be accepting the invite -barring any major shift in my thinking.

 

[Flashback]

just those booked throuhg Centurion travel.

Also - the fast track service to get to the front of the line for customs and immigration also only applies to travel booked through Centurion and in both cases it must be a business or first class flight. It also doensnt apply in the USA airports.

I have to say after having a good long hard think about it over the weekend that I think Mr SpokeyTokey has nailed it - the benefits over and above my platinum charge card are very minor in almost all cases; making it extremely hard to justify the extra cost of going Centurion.

AMEX have given me another 3 weeks to think about it, But at this stage I dont think I will be accepting the invite -barring any major shift in my thinking.

A good decision me-thinks

 

[simongr]

I think that's a good choice for your circumstances.

I think the status offers for hotels is interesting. If you are travelling enough that the status benefits are worthwhile then you are probably travelling enough to get status anyway.

I do wish I could find an employer with a more flexible travel policy - or one at least that stayed in one chain domestic and internationally...

 

[alemdohorizonte]

my 2 cents:
unless you can justify paying $3400 for the caché of showing off titanium wallet jewellery i think you'd be frustrated trying to justifying additional value from what you are already receiving with your platinum card if you decide to "upgrade" to centurion. as other posters have pointed out, the centurion phone centre, concierge and insurance agents are the exact same as platinum with just a different number. while they do have dedicated centurion travel agents, i have not had good luck with them and no longer use them.

i have been extremely disappointed with the level of service i have received from my australian centurion card. please don't make the same mistake as me and let the flattery of being invited trick you into thinking that by "upgrading" to centurion from platinum, you will receive any improvement in service or any significant improvement in benefits.

stick with platinum. at $900 per annum, you'll get the same service levels and 90% of the same benefits of centurion and save yourself $3400 each year.

 

[haydensydney]

I recommend that you get it.

If you've got money, then ask yourself "why wouldn't I want a black amex?"

 

[straitman]

I recommend that you get it.

If you've got money, then ask yourself "why wouldn't I want a black amex?"

Conversely you could ask 'What will I achieve by getting it?'




Sent from my iPhone using AFF Mobile

 

[NM]

Conversely you could ask 'What will I achieve by getting it?'

A heavier wallet?

and a lighter bank balance?

 

[simongr]

There is also the important question of whether it will set off WTMDs at the airport...

 

[QF WP]

alemdohorizonte, great to read one of your posts again, with which I totally agree.

Even though I haven't been invited and doubt I would reach their heady eligibility, I am happy with Platinum (and couldn't justify the cost to get a similar card in my wallet).

They have twice this year reversed interest payments where I (or my wife) was days late in paying the bill (but paid the next bill early). Both times they fell over themselves to reverse the interest as I had been a long standing member with a good payment history.

Your Platinum Amex isn't broke ManshouldbeBlack, so why replace it?

my 2 cents:
unless you can justify paying $3400 for the caché of showing off titanium wallet jewellery i think you'd be frustrated trying to justifying additional value from what you are already receiving with your platinum card if you decide to "upgrade" to centurion. as other posters have pointed out, the centurion phone centre, concierge and insurance agents are the exact same as platinum with just a different number. while they do have dedicated centurion travel agents, i have not had good luck with them and no longer use them.

i have been extremely disappointed with the level of service i have received from my australian centurion card. please don't make the same mistake as me and let the flattery of being invited trick you into thinking that by "upgrading" to centurion from platinum, you will receive any improvement in service or any significant improvement in benefits.

stick with platinum. at $900 per annum, you'll get the same service levels and 90% of the same benefits of centurion and save yourself $3400 each year.

 

[ManshouldbeBlack]

And that is exactly the problem - I have agonised over this (which is stupid really to agonise over this sort of decision) and reality is the annual fee is obscene. and not just because the benefits over platinum are small. 43k over a ten year membership is ridiculous - even if I could afford to burn that much.

The elite status appeals - dont get me wrong on that point and if there were worthwhile benefits for me that justified the extra $ in annual fee I would get it. But, as you say, my platinum charge card aint broke.

Just to keep my options open I have spoken to Centurion this morning and reserved my right to accept over the next 12 months should I have a change of heart

I also asked them to demonstrate to me why the extra $ in annual fee were worth the price of admission. They couldnt - falling back on 'well.. it comes with elite status'. Well you know what... my BMW comes with elite status to

 

[BAM1748]

Over the recent year or two I've actually started to cut out the 'premium' cards I have. Found I'm over the plat, gold, black, elite, premier....status stuff and it's all for what.

As a FF I still get a free beer from Qantas, simple pleasures are what I've decided is all I need.

Actually makes me happy as I'm not paying a rip off fee to a financial institution, I've moved everything to credit union except my Altitude card, Diners is gone, AMEX is next to go. It feels good :mrgreen:

Matt