Is anyone else feeling like the platinum edge card is becoming less valuable
Unlike the other replies in this thread, for me it is a clear black and white YES that the card is now less valuable than it was.
I would broaden that to state that ALL direct earm Amexes are less valuable in terms of how I was using them and can still use them.
My Amex MR Points stash is steadily declining, and has dropped to under a million for the first time since 2006 and that is despite these days only mainly redeeming for 2 rather than 5 (my daughters are older now and travel less).
For many, many years Amex MR was my main source of points , though yes I have always since becoming a dedicated points runner have hunted far and wide to gain points at say BMI etc.
In terms of direct Amex issued cards this last 12months would easily have been my worst in a long, long, time. And that is including counting 100&110K Amex Velocity joining bonuses (which admitedelly went to Velocity and not Amex MR) and some referrals.
WHY?
1/ In recent years Amex has moved from its regular point running promos (of various types) to in the main just cash-back promos, but also thinks like referral boni (these have actually been used often over the years and I have often benefited). While cash-back can be nice, it is often from businesses that I don't want to use and any gain is far, far, far less than what I used to be able to gain from point-running on the point promos.
Ignoring the 2.9 million points I one earnt, I also have picked up 0.5 million, 0.25 million, several 0.1 millions promos and many of 50K or so. There were scores of opportunities for 5K, 10K here or 20K there.
These have basically all dried up, though there are some promos related to new cards.
I think the last may have been 10 point per $ at Hotel Club last year (very good for some hotels/destinations. Not so good at others).
This is the biggest reason.
2/ With the lack of point promos it does mean that for some spend I am better of with bank issued Amex's (such as 1.5 points per $ to my preferred FF Program of Krisflyer ). So yes I am gaining more points these days at altitude Rewards and various other programs. But the net effect is that I am earning far less points in total. It would be grimmer stiil but sign on bonii have been extra lucrative this last year or so.
and almost not worth having at an annual fee of $195 per year?
No as others have pointed out it is still very much worth having. Indeed of the direct issued Amex it is possibly the best as the flight plus cash backs actually means that you should receive more than $195 value even if you do not spend much on the card.
