It's time to go... Centurion

[haydensydney]

Having been a staunch advocate of the Centurion card over the past 5/6 years here on AFF, the time has come to rescind my loyalty. At times I feel slightly sombre like status and dignity has been stripped away from me. But mostly I feel relieved that we are no longer getting ripped off by card that is just not relevant to us.

American Express has literally taken the piss out of existing Centurion cardholders by increasing the annual fee to $5000, which while only being an increase of $700, hit a psychological benchmark. At least with a $4300 annual fee we could convince ourselves that it was still good value. $5000 can buy a new wardrobe, a few nights at Qualia, a weekend away in Queenstown for example.

The increase made us realistically look at the benefits of the card and how these actually apply to our circumstances - we took off our rose coloured Prada glasses and we were stunned by the reality that we weren't getting any value from the card whatsoever.

The little benefits we did use were mainly restaurant bookings. The occasional price check for hotel accommodation through the travel team was just a joke - we could often get much cheaper rates doing the bookings ourselves online. We don't fly Cathay Pacific or OneWorld so the MP Diamond benefit was useless. The 'By invitation only' events haven't interested us for a number of years now... so what were we actually getting for our $5000? Nothing.

So as we drop to the Platinum charge card, I say adieu to the 5 years of blind Centurion loyalty and hello to a more cost conscious future. Even the $900 annual fee for the Plat made us baulk... lets see what the first year of Plat holds and how the Plat service stacks up against Centurion. It will be an interesting comparison.

 

[Cruiser Elite]

And I do not think you are going to be Robinson Crusoe with your decision either hs - I might do the same.

I am still waiting for AMEX to make a decision on access to MR pts for commercial FX transactions - if and when that becomes available and I consider it worthwhile then I will retain Cent.

But if not it will go on the chopping block - I will not downgrade I will just cancel and re-apply for Plat charge 2 or 3 mths down the track and cop the sign-on bonus.

Whilst I too have had blind loyalty to direct AMEX products for 20+ years IMHO AMEX now only worthy of use and abuse.

 

[haydensydney]

Whilst I too have had blind loyalty to direct AMEX products for 20+ years IMHO AMEX now only worthy of use and abuse.

My +1 has been with Amex since 87 and for him, letting go of Centurion was quite hard. But there was no denying that there was no benefit in having it, and we were basically pissing our money into the wind.

Good idea re: reapplying for the sign-on bonus - we should've thought of that one!

 

[cove]

$5,000 gets you a ride in SQ Suites one way from SIN-LHR and that would knock your socks off haydensydney. We have had 6 sectors now and the way I figure it you can get 15% of a $350 million plane divided by the occupants in the Suites section. On one flight it was two (us only),another was three and the other was four.
Of course we all used two Suites each so it is better than a private jet.
That $5,000 price is straight off the SQ web site so you may be able to get it from your favourite place for a bit less.
Best value I have not yet had to pay for so far as I have used points and fluked upgrades but I am ok about buying some rides.

 

[Tannin]

The occasional price check for hotel accommodation through the travel team was just a joke - we could often get much cheaper rates doing the bookings ourselves online.

I somehow think that someone paying $4300/$5000 is not price conscious or spending time comparing prices!

 

[Cruiser Elite]

I somehow think that someone paying $4300/$5000 is not price conscious or spending time comparing prices!

You somehow think wrong my friend - I hold Cent and I would cut a farthing in half - it's all about the value one can wring out of Cent.

 

[haydensydney]

I somehow think that someone paying $4300/$5000 is not price conscious or spending time comparing prices!

I think a time poor / ultra rich Cent holder would just go with it, but I tend to be more pragmatic with investigating my travel plans and costs. As Cruiser Elite quite rightly said, just because we pay $5000 for a card doesn't mean that we don't watch our spend

 

[cove]

Cruiser Elite I won't let you near any coin shops in Perth!
Wringing value is a great concept.

 

[Extasea33]

i would also be interested in feedback on the Platinum service as you drop back from Centurion. I have committed to another year, and will once again evaluate my options in 2013.

 

[k3nnis]

Hi HS,

Is the reason for downgrading to the plat charge card to keep ascent premium? Or did you want the concierge service?

Thanks,
K.

Having been a staunch advocate of the Centurion card over the past 5/6 years here on AFF, the time has come to rescind my loyalty. At times I feel slightly sombre like status and dignity has been stripped away from me. But mostly I feel relieved that we are no longer getting ripped off by card that is just not relevant to us.

American Express has literally taken the piss out of existing Centurion cardholders by increasing the annual fee to $5000, which while only being an increase of $700, hit a psychological benchmark. At least with a $4300 annual fee we could convince ourselves that it was still good value. $5000 can buy a new wardrobe, a few nights at Qualia, a weekend away in Queenstown for example.

The increase made us realistically look at the benefits of the card and how these actually apply to our circumstances - we took off our rose coloured Prada glasses and we were stunned by the reality that we weren't getting any value from the card whatsoever.

The little benefits we did use were mainly restaurant bookings. The occasional price check for hotel accommodation through the travel team was just a joke - we could often get much cheaper rates doing the bookings ourselves online. We don't fly Cathay Pacific or OneWorld so the MP Diamond benefit was useless. The 'By invitation only' events haven't interested us for a number of years now... so what were we actually getting for our $5000? Nothing.

So as we drop to the Platinum charge card, I say adieu to the 5 years of blind Centurion loyalty and hello to a more cost conscious future. Even the $900 annual fee for the Plat made us baulk... lets see what the first year of Plat holds and how the Plat service stacks up against Centurion. It will be an interesting comparison.

 

[haydensydney]

Hi HS,

Is the reason for downgrading to the plat charge card to keep ascent premium? Or did you want the concierge service?

Thanks,
K.

No logic - we'd rather just take one next step down. Concierge is a bonus, and at least we would have some concierge if we ever needed it. Points is a plus too.

 

[k3nnis]

Sounds good I tend to dine out more since the "enhancement" of the plat charge card

No logic - we'd rather just take one next step down. Concierge is a bonus, and at least we would have some concierge if we ever needed it. Points is a plus too.

 

[haydensydney]

I am actually a little concerned about an upcoming trip to Europe and the travel implications of dropping down from Cent to Plat e.g.

1. We bought the points through US Airways on our Cent card, which bought the points fares on Asiana
- which in itself didn't bother me, I assumed we were covered
2. We will be travelling whilst we have the Plat charge
- which concerns me because of the devaulation of its travel insurance product and it vague interpretation of buying travel on the card

Therefore I'm unsure what travel insurance product we will be covered with. I'm thinking the plat insurance. But that concerns me because I think the coverage is different.

Would anyone recommend that I get a standalone policy?

 

[k3nnis]

Yes that may be a problem. Have you already cancelled the Cent?

 

[haydensydney]

Yes that may be a problem. Have you already cancelled the Cent?

OK so I got paranoid and called Ace.

She said that because I am transferring to a Plat charge card and not cancelling / reapplying, the fares from US Airways will be adequate for coverage. I specifically explained the US Airways 'buying points' scenario and she seemed unfazed - basically an airfare is an airfare.

Lets hope that it all works out OK.

 

[haydensydney]

I've also asked for a comparison chart with the differences between the two covers... she is going to email me something.

 

[k3nnis]

Great. Please let us know the differences once you get it. Thanks.

I've also asked for a comparison chart with the differences between the two covers... she is going to email me something.

 

[Newk]

I somehow think that someone paying $4300/$5000 is not price conscious or spending time comparing prices!

nah, not true. I gave my Centurion away years ago. Like the OP I just couldn't make it stack up. I did love the restaurant bookings and that is all I really miss

 

[Newk]

I am actually a little concerned about an upcoming trip to Europe and the travel implications of dropping down from Cent to Plat e.g.

1. We bought the points through US Airways on our Cent card, which bought the points fares on Asiana
- which in itself didn't bother me, I assumed we were covered
2. We will be travelling whilst we have the Plat charge
- which concerns me because of the devaulation of its travel insurance product and it vague interpretation of buying travel on the card

Therefore I'm unsure what travel insurance product we will be covered with. I'm thinking the plat insurance. But that concerns me because I think the coverage is different.

Would anyone recommend that I get a standalone policy?

ummm yes. Best thing our family ever did.

 

[haydensydney]

Naturally they didn't provide a comparison (would be setting themselves up for failure).

Dear Mr 'WedontcareaboutyounowthatyounolongerhaveaCenturion'

Thank you for your email.

We noticed that you are planning to transfer from an American Express Centurion Charge card to a Platinum Charge card. In this case, please be advised that American Express does not provide any document comparing the two cards.

However, we would like to direct your attention to one main difference (for example, Travel Insurance) between the two cards which we have noted for you below:

[reference to how Plat must have trip paid for]

As per the provisions noted on the policy, the American Express Centurion Charge card, will be able to cover your trip just by having the said card. You will gain automatic access to the travel benefits provided by the cover by being an active American Express Centurion cardholder. On the other hand, the American Express Platinum Charge card will only be able to consider a trip if the full/entire fare has been paid using the said card or with the use of American Express Membership Rewards Points.

To know more about the two policies, we have attached copies of the terms and conditions for both card types.

Should you have any queries, or require further assistance, please do not hesitate to contact us.