Centurion annual fee increase from 5K to 6.5K

[danpez]

I just dropped down to the plat myself. They keep devaluing it. They dropped AFR for Australian as well which was a disappointment. Now even the titanium cards are being replaced with cheap metal ones. Yet they increase the fee. I know another person dropped to plat through the pandemic and then just applied to go back to cent recently. It's not guaranteed but possible.
Edit: you get 30 days to refund full fee from renewal date or it is pro rata charged (ie you pay a year in advance)

 

[bluelondon]

I just dropped down to the plat myself. They keep devaluing it. They dropped AFR for Australian as well which was a disappointment. Now even the titanium cards are being replaced with cheap metal ones. Yet they increase the fee. I know another person dropped to plat through the pandemic and then just applied to go back to cent recently. It's not guaranteed but possible.
Edit: you get 30 days to refund full fee from renewal date or it is pro rata charged (ie you pay a year in advance)

Why did they upgrade back to Cent? Anything they were missing?

 

[danpez]

Downgraded through the pandemic due to travel restrictions and upgraded again afterwards just to get the extra benefits. Better hotel membership levels etc. Not a huge difference but if you travel a lot and spend a lot it adds up.

 

[albyd]

I’m guessing he wanted Hilton Diamond. Everything else is the same as Platinum unless that’s been downgraded to Silver for Marriott.

 

[Viridis]

I think Centurion get Emirates Gold in their FF programme - also useful if you travel a lot. I think that has benefits with QF too (although I don’t usually travel with either)

 

[Viridis]

Hard to justify $6,500 renewal fee annually.

I always find ‘justify’ an interesting word

I’ve always thought that if you want it, and you can reasonably afford it, then do it

It’s hard to (financially) justify most of what we do and in respect of all financial products “the House always wins”

I know that I spend more than the ‘value’ I receive in return but I enjoy the perks and benefits when I use them and that’s good enough for me

If you’ve got $6.5k and you’re not taking food from your kids’ mouths to fund it, then go for it. YOLO

Just sayin’

 

[Quattro]

Won't be renewing.

Intl transaction fees really pissed me off.

 

[albyd]

I always find ‘justify’ an interesting word

I’ve always thought that if you want it, and you can reasonably afford it, then do it

It’s hard to (financially) justify most of what we do and in respect of all financial products “the House always wins”

I know that I spend more than the ‘value’ I receive in return but I enjoy the perks and benefits when I use them and that’s good enough for me

If you’ve got $6.5k and you’re not taking food from your kids’ mouths to fund it, then go for it. YOLO

Just sayin’

100%. Amex charge so much because people pay it. It has different value to different people.

If the point is to try and make a ‘profit’ from it, it’s not going to happen - at least not with Centurion. There are opportunities to get good value out of "everyday" use. For instance, they tried their best during COVID lockdowns including the points initiatives (I know Platinum got a variant of this offer) and dining & supermarket credits.

Platinum Charge has most of the same benefits for a much smaller AF. It is an option - especially if you have a grandfathered Platinum Reserve with Travel Credit.

 

[bluelondon]

Thanks for the replies and insights.

I'm not trying to profit from the fee - but at least get some value in my circumstance.

I travel extensively - but always in business class... so the 'status' and lounge access has minimal value. I would expect most Centurion card holders would feel the same.

The FX fees really p1ss me off - so I don't use the cards overseas or for non-AUD transactions.

Looks like I'll be cancelling the card - and just getting separate top level travel insurance and paying for 'perks' personally.

 

[Quattro]

Thanks for the replies and insights.

I'm not trying to profit from the fee - but at least get some value in my circumstance.

I travel extensively - but always in business class... so the 'status' and lounge access has minimal value. I would expect most Centurion card holders would feel the same.

The FX fees really p1ss me off - so I don't use the cards overseas or for non-AUD transactions.

Looks like I'll be cancelling the card - and just getting separate top level travel insurance and paying for 'perks' personally.

I'd raise the FX fee with your RM. I did.

Boggles my mind

 

[albyd]

They can charge it because everyone else does - local pricing. It's not charged in the US as US "premium" cards (and some not so premium cards) aren't charging it. Cards in AU that don't currently charge it likely aren't considered in the same "league" and therefore competition. I've been using other cards for non-AUD spending - it's one more card to keep track of but there's a significant saving.

 

[Quattro]

They can charge it because everyone else does - local pricing. It's not charged in the US as US "premium" cards (and some not so premium cards) aren't charging it. Cards in AU that don't currently charge it likely aren't considered in the same "league" and therefore competition. I've been using other cards for non-AUD spending - it's one more card to keep track of but there's a significant saving.

You may be correct, but for people who use Centurion exclusively or a debit card, Centurion is preferred way to pay due to insurances etc.

My preferences shouldn't result in a lack of benefits, given the tier of this product. Especially given people on a global level would scratch their heads at an FX fee on a platinum credit card let alone invite-only Centurion.

 

[dein_gesicht]

Is there a site that shows all the benefits for centurion vs platinum? It's juts so odd that they don't display it anywhere

 

[albyd]

Centurion's is invitation only so there's no public detailing of benefits. I think outside of any snob factor in having it, each person has their own reasons for having it. There isn't a significant difference in feature set between AU Platinum Charge and Centurion Charge.