@TheCreditFrog same here. Ritz card and Altitude Reserve are my 2 high-end cards. I appreciate you being logical in your strategy. Others tend to maximize value at the cost of simplicity.
Stan this was my main factor as well. I only have one lounge in Columbus and it’s an escape lounge. And it’s now a PP lounge. All but sealing the platinum’s fate.
You’re the first person I thought of when I read the announcement that the escape lounges were going to priority pass. Now Adam and his damn kids can get in.
I certainly remember when you canceled your Platinum card. I was still hanging on, but then when this news came out where Escape lounges are PP lounges, whelp, that was it. I have other cards that can cover that, and I'm all about eliminating prepaid coupons when I can!
I absolutely love and agree with your take on this Stan! This “lounge meta” is definitely taking a turn south with how hectic & inconvenient the lounge experiences have progressively become. Your content is 💯 as always!
Thanks! Yeah, it was getting to the point where it's getting ridiculous and the opposite is true - where the terminal is the calm place and the lounges are the madhouses. Hopefully, there will be some solutions for this soon, but terminals always have more room to expand then lounges so it's not looking too good unless there's a bunch of new lounge openings soon.
I recently experienced something similar at Nashville airport. The Delta Skyclub and other lounges were full. I went to a restaurant near my gate and only spent $20. Although i would rather save the money, it was relaxing being 10 yards from my gate vs having to walk across the airport right before it was time to board. I still like the Centurion lounges and although I've only had to wait at LAX once (same Nashville trip) it does seem like in most places it is becoming like priority pass where it will be hit or miss on access.
Yeah, thanks for sharing your experience JP! Lounges are getting increasingly full and we had similar experiences having a more quiet and relaxing time just eating in the terminal. It’s quite sad really, but I feel that if I’m paying $695 per year for a card for lounge access, the lounge experience matters! Hopefully they can fix the overcrowding issue, but I’m not holding my breath!
Big bummer about certain lounges like Escape lounges becoming more saturated with Priority Pass Members having access as well. Like you said, this can be seen differently on both sides, with people that only have PP access, liking that change. However, obviously saturation in certain lounges plays a factor, and with that SAC lounge specifically already being pretty busy even before PP access added, it could make Lounge access for you less valuable, especially since it's a major route for you. I think Home Location by far is the biggest factor in what lounge access each person needs, and so even though there's some things I don't like about the Platinum, I'm still excited to get it just due to Seattle having a really nice Centurion Lounge, and it being my home airport. I love all of the personal examples in this video- it's what makes experiences like this so relatable & helps better understand which Cards truly make sense. Great video Stan!
Thanks Matt! Yeah, I agree. Your home airport is going to play a big factor in which of the luxury travel cards are going to make the most sense for you. Since you have a Centurion lounge right at your doorstep, it's going to be great to see how that fits into your travel habits! The time you fly out is also going to play a factor since traveling on a peak travel day will definitely make lounges much more crowded. During off-peak travel season, the lounges are certainly much less busy so we'll have to see what happens once fall and winter comes around. Yeah, these experiences are definitely what brings these cards to life and I'm happy to hear that it was relatable 👍
This is definitely a pertinent topic these days... On my trip to Croatia recently, I had to join the waitlist for the Sapphire Lounge in JFK and although it didn't take too long to get in, it didn't feel as much like a premium experience as it would've otherwise, especially with how crowded it was once I finally got in. I can definitely see that being true with the Platinum card/Centurion lounges to an even higher degree. Great video as always brotha!
Thanks Spencer! Yeah, lounge waits are very common these days, and you're right - when we pay for a "luxury" travel credit card, we kind of expect a "luxury" travel experience. We'll have to see what happens as we move forward, but I'm pretty sure that lounges will continue to be increasingly overcrowded, even with the opening of additional lounges in the future.
“And for that reason, I’m out” 🤣. I’m missing the good old days when the platinum was undisputed. All the other options look like emergency alternatives to me
Haha! Yup, I'm going to shark tank this Platinum card! I know, times have really changed in the past few years, but it's because there's more choices than ever to achieve the same thing in the credit card landscape, and the competition is just going to get more intense as more products and changes are released! I'm going to go with the company with less annual fees and statement credits, but that's just me.
Already cancelled this card is a joke and AMEX is falling off hard. Losing benefits and value while adding annual fees and also offering new 🗑️ tier benefits that don't even fit the cardholder. I spend six figures on my AMEX platinum and these 🤡 are adding Walmart as a benefit 😂 theres no one who shops at walmart or cares about a measly $50 saks credit or $10 for uber. The entire card is a joke
Yeah, it's too bad that Amex has become a coupon book company. We'll have to see if there strategy pans out, but so far, it looks like it is with record profits. Of course, the Platinum card is only a small part of that, but they definitely have a certain demographic in mind for their target audience, and it's likely people who don't care as much about statement credits.
You are 100% correct Stan! Only reason I kept it open is because they gave me a 35k retention offer and I was also gonna have 2 friends apply for a card for a vacation at the end of this year which means some referral bonuses LOL
Hah! Very nice Eduardo! Gotta get that MR cheddar. Pretty sweet though that you're able to get some referral bonuses from the card + retention. Those are the only reasons to keep the card around long-term if you aren't able to use the credits + benefits
Great analysis Stan! Lounge overcrowding is kind of a paradox to me - I want people to enjoy the lounges, but I also don't want it too be too crowded 😂 I seem to be moving in the other direction with Amex than most, in part because a Centurion just opened up at DCA (my secondary airport).
Thanks Josh! Yeah, it's actually quite sad and unfortunate that sometimes the terminals are actually a better place to be than the airport lounges. It really does depend on your home airport though! You have both IAD and DCA to choose from, but if there's only a Centurion in DCA (not sure if there are others), then that would certainly make sense for you if you wanted access to that lounge! IAD has tons of options so you have the flexibility of choice.
@@TheZombaslaya another full lounge there would be awesome! They’re working on a “Capital One Landing” there, though it’s been under construction forever now.
Nice video Stan. So in contemplating cancelling Amex platinum for access to your specific use case of visiting Escape and PP lounges, what alternate premium travel card are you looking at to replace the Platinum? CSR? Ritz card?
Thanks Juan! I have the RC for PP and Saphire lounges and USBAR for PP restaurant access (8 times per year, which is fine for my purposes). I also have the BofA PR Elite that gives me unlimited PP restaurant access, but with my travel patterns I've had the opportunity to go to PP restaurants 0 times in the past several years so it's not something I probably need either, and that card may also get downgraded too!
If you’re leaving Centurion lounges for Chase sapphire lounges due to overcrowding, you’re in for a rude awakening. So far the crowding has been just as bad at CS lounges, in many ways worse.
I don’t know if I’m leaving Centurion lounges for Sapphire lounges necessarily. The point I’m trying to make is that the PP on my Ritz Card satisfies my lounge needs, whereas I’m paying $695 for Centurion lounge access when I don’t really need it.
AMEX seems to have a strategy of getting people using their cards, and then upping the price once they feel they have enough people sunk into their system.
So,I know this isn’t the main topic, but Stan mentioning this card made me wonder: why would anyone get the Delta Reserve? You get lounge access with the Platinum Card, even if you’re NOT flying Delta.
I think it's more for those who travel with Delta and want more SkyClub access. But with the refresh it's also for the MQD boost and status, but this card is super expensive too so I'm not sure. I've had this card before (2022-2023), but only for the welcome offer and the 747 metal.
Just cancel it and get the Business version, get the bonus and cancel it and get another NLL link for the personal, rinse and repeat. I am sure you make the AF in YT money so why not.
Oh yeah, business Platinums are still on the table for NLL offers. I would probably alternate that with Ink cards depending on the level of spend I have to do.
@@TheCreditFrogsame here. I ditched 3 platinum cards (2 vanilla and 1 Schwab) and right now I have 2 business platinum (1 NLL) for the welcome bonus, but I’m pretty sure both will be cancelled when the AF hits!
I have considered going the Business Platinum route, excellent business leverage I'm pre approved with a likely instant approval. I would cut the personal Amex Platinum next year in place of the business version next year I'll decide.
Stan!! Good video sir. I dont blame you for contemplating cancelling the Plat considering your circumstances. You have to do whats best for you brother!! Sounds like you have lounge access that you need, based on your travel habits, covered elsewhere.
Thanks so much Jon!! Yes, the Platinum to me is a lounge card and since I have a lot of other cards that can fit my lounge needs, the card is on the chopping block! I kind of wish there was a nice Centurion lounge I used more often, but the thought of chopping $695 off of my annual fee list as well as countless statement credits is also very cool to think about!
Thanks Dugroz! Yeah, now that I've sat on this video for like a month, I'm definitely leaning more towards the cancel side unless they make some benefit that's truly unique to this card, which is highly unlikely but possible.
Thank you Stan! You have just shown us all that strictly relating on keeping a card for lounge access in 2024 is not like it used to be. The over crowding and noise does not make the experience premium at all. Thank you for sharing your experience and thoughts! I appreciate you ! ❤
Of course Joe! Yeah, the lounges are not like they used to be, and with annual fees going up, I think more attention than ever needs to be paid to ensure that the value is there. If we pay for a premium product, we should get premium results and not long waits and queues!
@@TheCreditFrog you hit it right on ! We also have so many more options available to us now that we can actually pick and choose and not just accept what’s “given” to us!
Maybe Amex will turn around and give actually good retention offers again and it'll be worth it for another year 🤷♂ +1 on the Priority Pass lounges, especially in the US.. they're either always full or honestly not that amazing anyways. Having no guests on the Centurion lounge accesses is also a bummer especially if you travel with groups often. That said, until SeaTac gets better options, think I kinda have to stick with the Amex Platinum! Unless I go for AA Executive and get Admirals club for Alaska lounge access that is
Yeah, we'll see what they offer, but the thought of being able to cancel this card, it's annual fee, and all the statement credits also sounds pretty alluring too. In your situation, yeah, if you have the Centurion in Seattle, then certainly this card is worth it for your travels! You travel a lot internationally so it probably makes more sense that going with a domestic US carrier like AA or Alaska, unless you start flying more domestically!
@@TheCreditFrog 100%, though those AA/Alaska miles are pretty nice for JAL and others too, so could be worth the trade-off if there's a really high welcome offer!
I had the similar brainstorming process with my AMEX Platinum, and I decided to cancel it. Here my reasons: 1. In the last 24 months I only visited two airports with Centurion Lounges. I was not able to enter ( full capacity and long wait times) 2. My Home and Frequently airports only have Priority pass Lounges or Plaza Premium Lounges ( you can enter to plaza premium with the Venture X card) 3. I only value a few of the credits 4. Clear is a joke in my frequent airports , you get faster in TSA pre check line. 5. 80% of my travel is abroad. 6. FHR properties has come more restrictive and significantly more expensives After all that, I decided to cancel.
Thanks for laying all that out Jayson! I had similar experiences with basically everything you said, except most of my travel is domestic. There are certainly a lot of reasons for you to cancel the Platinum card, but the good news is that there are a lot of alternate cards that we can use for lounge access that make more sense depending on our travel patterns.
Love the video. Thanks for sharing. I’ve had an Amex P for almost 20 years. When I got it the cost was much less. As lounges opened there was little to no waiting and my wife could join me free of charge. Now the costs just keep going up and the benefits that I actually use keep drying up. I feel like the value of the card has gotten so diluted because so many people have it. If I add up all the benefits I actually use I don’t get that value in return. I’ve already decided to “downgrade” to a lesser Amex at my renewal time.
Yeah, times sure have changed! And costs keep going up and up. But I agree, the "exclusive" nature of the card has really been diluted and with lounges not keeping up with volume, it just ends up being not the experience you'd expect from a premium travel credit card. I'm still on the fence between downgrading to the Green or just straight up canceling, but I guess one factor I need to figure out is if the Morgan Stanley version could even be downgraded. It may not be. The Green might be nice for CLEAR, but not sure if it's worth it in the long run.
We only fly 2-3 times per year, and our typical flights from D Gate in Las Vegas will soon get a Capital One lounge. FHR is fine, but we only use it with the credit too. Being local-ish, I prefer off strip places like Virgin. I intended to cancel in May, but Amex gave me a 35K retention offer. A week later I saved $350 on a cruise offer, and realized I should probably downgrade to a charge card with the same targeting, now that we've switched to a travel agent that actually takes Amex. With 3X on travel, The Amex Green is looking like the answer.
Lots of changes in your setup as well! First Delta to Alaska, and now this! The Green to me is also looking a lot more reasonable, but not sure if the MS Platinum has that downgrade option. The Green would be great for those target offers like you mentioned, but if you have other Amex cards, sometimes there's some overlap with the offers on Amex co-branded cards. Of course, you won't earn MR points on those, but still good savings!
@TheCreditFrog Yeah my setup has drastically changed, including BILT + Hilton Surpass for dining and grocery, a return to Capital One Spark after Chase botched 1/1 chargebacks with the Ink Premier, and Cash+ and Max Cash for home and office utilities instead of Wyndham. The Amex Biz Gold + Delta Business Reserve were both replaced by the Alaska business. It has been a year!
Oh, and according to the cruise blogs, only the personal Platinum, Gold, and Green cards have been getting the cruise offers I use. Co-branded cards haven't been targeted within the last year.
Makes perfect sense Stan. I would probably cancel if I was in your situation. Biz Plat is my main lounge card. I live in a smaller city so frequently use the lounges during connections and have pretty good luck with no wait to get in (usually). It’s worth $695 to me. I use most of the credits and I probably would spend $200/year on airport food if I didn’t have lounge access.
Yeah, I think the decision is all about which airports you frequent the most. As you're in a smaller airport, it becomes trickier, but given how much you travel, you've figured out a good routine of how to avoid the lounge crowds! The Platinum is still a solid card, and since you use most of the credits, even better! I just wish lounges were less crowded since, on my personal trips, I fly during peak travel days just like everyone else.
Since I re added the personal Amex Gold alongside the Amex Business Gold card, I'm going to reevaluate whether to renew my Amex Platinum card next year. I hope to start traveling sometime this year or next year and if I do I would consider keeping it. I will see how the rest of the Amex cards revamp this year and what value they bring this will also help me decide what moves to make with the Amex Platinum.
Yeah, I think once you start traveling, you'll see if the Platinum card is worth it or not. When it comes to lounges, it really depends on a lot of factors including what lounges are in your home airport, when, and where you typically travel. I'm hoping the Amex Platinum gets a refresh within the next 9 months or so, so I can re-evaluate, but if history has taught me anything, it's that the AF is going up and there's going to be more credits so things aren't looking good either way.
What do you think of the HSBC Premier and Elite cards that were just revamped on August 6th? The Elite version seems to be very well positioned against the Amex Platinum card with a broader defined travel category and a much lower annual fee. Maybe worth a review and compare?
Just took a quick look at both cards. Thanks for the tip! I'd have to look into it deeper, but to me, there's a lot of credits on the card (including a monthly credit) and to get the travel credit you have to spend $2k to get $100 back, up to $400. In addition, they have transfer partners, but a lot of them are not really worth it as they're not 1:1 as a transfer. I'll look into it more, but it could potentially be a Platinum card alternative for the right person, but just from first glance, I think it would be a hard sell.
@@TheCreditFrog Yes agree, on the positive side their 5x travel multipliers are much broader than those of the Amex Platinum (the broadest I've seen of what qualifies as travel) and don't require purchases through a travel portal, which is pretty good. On the negative side, their "coupon book" credits are even more complicated than those of Amex and their transfer partners somewhat weaker. Maybe worth a deeper dive to see if the positives and the lower annual fee can offset the negatives...Thanks Stan.
I downgraded my Platinum to Gold card in 2023 and decided to keep it in 2024. Few months later I was invited to upgrade by spending $2K and earn 50K of points. I plan to take this perhaps in Nov-2024 if still available!
Very nice upgrade offer! Since both the Gold and Platinum are coupon cards, it's going to depend which card (and its coupons) makes more sense. The 50k MR points is solid though so if you need a big influx of points, that would be the way to do it without adding a new account!
yes have the same feeling about the plat, its about to get chopped. venture x, ink pref, alt reserve, aspire are my alternatives as more spend/swipes makes sense vs the plat, for my setup.
Last week, Amex offered me 100K to swap my old Gold for Plat. We hit the Centurion lounges in PHX, IAH, and DCA, with SEA coming up Friday. After a year, I'll get bored with the Plat again and downgrade or cancel.
100k is a solid upgrade offer. Very nice! Sounds like you're using a lot of the lounges too! Nice way to get some MR points is to play the downgrade/upgrade game!
Unless something major happens I am getting rid of my Amex Platinum card at renewal. I was going to do it last year but figured I'd let it ride again. Almost immediately regretted it. I find that I am not traveling like I used to and the only reason to have this and the Gold card was for that. I'm getting tired of the high AF, the coupon book experience, and the fact that I just don't use most of the features. With regard to lounge access, I've only done it a few times and most of that was bad due to overcrowding. IMHO, lounges should be an escape from the terminal, not the very same experience in a smaller area. I like kids, but they should definitely not be there.
Yes, the coupon book experience is really what has made this card super annoying, especially with it's high annual fee. Lounges should live up to their name and, like you said, be an "escape from terminal," except now it's backwards, the terminal is an escape from the lounge.
Just canceled mine after 2 years. Airline and uber are the only credits I could really use. I used FHR/THC once just to get the credit, everything seems way over priced. I've used clear maybe twice, I'm fine with just pre-check. I have only visited centurion lounges 3 times since I held the card. First two were fine, but last one I had to wait 45 mins to get in. I've also had bad experiences with the monthly credits being charged twice in a month, losing the credit for the next month. Amex customer service didn't want to help with this. This card isn't for me.
Yeah, that was probably for the best. On the plus side, you definitely got the value in the first year with the welcome offer, and since you used a lot of the credits, I'm sure you got enough value to make the AF for the 2nd year. This card is becoming increasingly less valuable though because there are more lounges these days as alternate options and the Centurion lounges are usually at capacity, which really isn't great if you're paying for that "luxury" or "convenience." I'll likely be the same as you, and close my card next year, which would be my 3rd year with this card. Not for me either.
I agree that’s the platinum for the fee it has, isn’t that so well good for lounges, BUT for those who keep their credit game short and simple, this or the reserve will do just fine.
Yeah, it also has to do with your home airport. If you use Centurion lounges then Platinum is the card. If you use Sapphire lounges, then clearly CSR/RC will do!
I really don't want to pay the Platinum annual fee this year, but I'm not sure what I want to do yet. I go to many Centurion Lounges but maybe I can find alternatives
You have time to figure it out! I'm actually curious what the lounge situation is like abroad since you travel so often! I'd bet that there's a lot of Priority Pass options that are just as good?
Thank you, for walking us through your detailed thought process. Guess, I am just an "odd ball" because since the 1980's, I have had a Lifetime membership card for the United Airlines Club. So, paying to have airport Lounge access why, would anybody do that? When traveling, I just use my American Express business "Plum" card (smile ... smile).
They need bigger lounges - it’s disappointing bc many people including myself get this card for lounge access and want to bring a friend but now they have to pay 50$, Amex is making it clear these lounges are for the solo business traveler which isn’t me - I will Be considering closing mine and moving towards chase setup with altitude reserve as catch all
They definitely need bigger lounges! Yeah, the guest thing sucks, but it's probably to help limit access to the already overcrowded lounges! USBAR + Chase setup sounds very strong and a great goal to move to!
I'd be tempted to keep the free AU Platty. I keep the platty just for lounges. Most Amex lounges are next level. Centurion, C1, and Delta are top priority - I'll pass on Priority Pass if there are other options. (It is nice to nix a few cans of Diet Coke for the plane ride when flying Spirit.)
I would keep it too, but I think for me, I would be ok with just PP lounges, especially because I don’t fly through major airports that often. Of course, it’s amazing when I can go to a Centurion lounge, but then when I get there, there’s usually a line or it’s packed or something. At least that’s been my experience since for my personal travel, I tend to fly on peak travel days. MS Platinum is a one time shot though. Maybe it’s a sign to move to the CS Platinum at the very least!
It seems we follow some similar paths Stan😊 This was a measured and thoughtful analysis of the Amex Plat benefits proposition. I have found the lounges, including the new famed ATL Centurion disappointing for similar reasons. Everyone having access to something kills exclusivity and value - universal law😎 It would be a shame for the Centurion to go the way of Priority Pass lounges in the US. CC companies are struggling with the right value proposition and price point for luxury lounge access. 1st/Bus class Int'l travel does a much better and realistic job imo. Thanks man👍🏾
Of course Nkosi! Yeah, I was thinking the same as well. As I'm gearing up to take my first international trips in a while, a lot of those tickets include access to lounges anyways so I'm not sure if having the additional lounge access is really that necessary. Of course, having more flexibility is better, but if other cards are offering similar lounges for a better price point with free guests, why would I pay more? Appreciate your support as always bro!
Rip to the platinum. My home airport has a centurion lounge but I wouldn’t use enough credits to offset the fee and my wife would need to be an AU so I never applied for it. Now the escape lounge in one terminal is PP accessible and a sapphire lounge is opening in the other terminal 😎
Yeah, just having one CSR or the RC card would work great for your situation Cody! I never understood why they made Escape Lounges PP accessible but here we are, and now we're having this conversation. The best lounge card is clearly going to be based at that home airport.
Haha geez that line for the Vegas Centurion lounge ... I mostly frequent the JFK or LGA ones and (surprisingly) the lines have never been THAT crazy. Anyway love your plan to live as if you didn't have the Amex Platinum for a bit. You certainly have good lounge coverage with your other premium cards. I'd be similarly conflicted if I had the MS Platinum as that free authorized user perk is no doubt powerful.
For sure Monty! Yeah, it was a peak travel day so that's definitely part of the equation too, but lounges have certainly been more packed even as new ones have opened. I've heard great things about the JFK/LGA lounges and it sounds like those ones are pretty big, but have their overcrowding issues at time as well. We'll have to see how that shakes out! Of course, having the MS Platinum is also another issue as well because that free AU is a pretty nice benefit of this particular Amex Platinum version!
I just downgraded my platinum to a green card Held the platinum for 5 years Just tired of forced spending when I hold Venture X and BOA Elite cards I still feel sad about it as I loved many things about that card I still have my Delta business reserve for Skyclub access however and maybe the occasional Centurion Lounge
Yeah, the Platinum has so many credits now, and since you have other luxury cards like the C1VX and BofA PR Elite, you still have some pretty good lounge access. I also love the card as well, but in it's current iteration, it is making less sense for me. At least we can keep the physical card and its designs as a keepsake from better times!
I didn't know doctors fly so much for work. Also, I think most people care about the centurion lounge because of free alcohol. As a non drinker, I also wouldn't wait in line.
It's certainly not typical, but there are travel docs just like every other profession! Yeah, I agree Mason, alcohol is also a consideration. I don't drink while traveling because I get dehydrated enough already so I stick to mainly water in the lounges! But I get food... lots of food.
I have been planning on getting the Platinum card in 2025. I saw a 150,000 SUB, but I am reconsidering as I am mainly travelling to the west coast on Southwest for the next few years (while youngest is in college). Also, I am also considering cancelling the Gold.
Yeah, the issue with the Platinum card is that pesky $8,000 MSR now, although it is in 6 months so that's not so bad if it's spread out like that. I've found this card to be great with Southwest as it comes to purchasing flights, but I'll probably look into getting the Companion Pass this upcoming year since it's such a great bargain! That Gold card is super polarizing - definitely not for me, but would probably get you a lot of MR points if you have young kids that still live with you.
@@TheCreditFrog I’m an empty nester now so I am not getting as much spend on the Gold especially since we often shop at Costco and Target. I can make the $8k spend over 6 months for the Plat. It might be worth it for the SUB. I earned the CP for SW and I haven’t bought a ticket yet since I’ve used my Chase points for those flights.
Recently stopped by the DFW lounge and it was crowded, so much that it was not enjoyable. I had wished I had access to the Capital One lounge because it seemed bigger. I ended up getting a Venture X when I got home. May cancel the Amex Plat.
You know, funny story. I tried to pay to get into the C1 lounge in DFW (no C1VX card for me), but they said they were full. I went to the DFW Centurion and they weren't at capacity (but were still very busy) so I was able to go in and check it out. Still very busy for sure. It certainly is going to depend on the time you travel as well, whether it be peak or off-peak travel days.
I don't want to leave $25k in a Platinum Cash Plus account, which is a non-interest bearing account. Doesn't make sense given the current interest rates.
I've never been to an airport lounge, but it's always interesting to hear the perspective from folks on that side of the credit card world. Hypothetical Stan, but would you keep your platinum if Amex gave you 100,000 MR points to stay on the platinum for 1 more year?
Good question! Yes I would. As long as I get enough MR points to cover the entire annual fee (69,500 MR points), I would keep the card. Anything less than that would be a no go.
@@TheCreditFrog any Marriott card would do? Even the $0 Bonvoy Bold? Would my chances of getting a higher credit limit go up on the higher annual fee card? The scenario I was thinking of doing is replacing my CSR with the Ritz-Carlton + CSP. I think this set up is the same Annual Fee and similar benefits but I would get more from Ritz-Carlton
@dw4421 yup, you should be able to do the Bold too! I would say the Boundless is a better option since the welcome offer is usually better and you get an anniversary FNA you could earn before doing the PC. I personally converted my Bold to an RC card, but I had it for several years first and it was PC’ed from a Boundless originally. I like the idea of replacing the CSR with the RC and that’s kind of what I’ve done except in my situation, since I have the RC card, I have no need for the CSR
@@TheCreditFrog exactly. DoorDash $5/month credit (up to $15 saved) is nice to have but im ok with not having it. Lyft Pink was cool to use when I was traveling a lot more for work but now the free 2-year membership for me is expiring so I’ll lose that benefit soon. I’ll still have the CSP to transfer my points to partners for flights and to Hyatt. With the RC, I’ll also have Marriott Gold to sleep around with.
@@TheCreditFrogmostly definitely 💯 I was looking forward this card for a minute. Patience truly pays off . I just need two other cards from Chase and I am good to go.
Amex is just getting ridiculous. Such high fees and coupon management. They are gonna alienate the majority of their customer base. At the end of the day, only appealing to the top 1% wont pay the bills. The amount of clientele in this demographic is actually incredibly small. The fontaine blue in las vegas has the same problem.
For sure! Amex is just crowding out users due to their annual fee raises and couponing, but they do know they're audience very well. Sadly, I don't think we as credit card min/maxers are their target audience, but that's to be expected. In any case, we can vote with our wallets!
Mmm.. not so sure about that. I filmed this video about a month ago, and my resolve to cancel this card is stronger now with the Gold changes. We will see though, I have a year to figure out if it's the right move for me.
Don't you need an AU card for your wife to visit the Centurion lounge with you since guests are no longer complimentary... unless you spend $75k a year on the card.
We'll have to see! I do have until next year to figure it out, but I'm certainly leaning towards a cancel decision. It would be super nice to shave $695 off my total AFs!
Yeah, well. We can only hope! Personally, I'm not going to pay for a card that does not get me the experience that I expect, especially if there are other cards I could use for the same thing!
@@TheCreditFrogfor sure! It’s always funny how little these credits get appropriately discounted in these “effective” AF convos Hope to see you in NOLA!
I did while I had the Platinum Cash Plus account, but you have to hold $25k in there in a non-interest bearing account. When I opened it in 2022 when the interest rate was 0.5%, it was fine, but now it makes no sense to do so, so I closed it. Now I just get the Free AU, but maybe not for long!
Yeah, if you frequent Centurion lounges a lot - still a great card for that access! But it depends on your home airport and how often you get to Centurion lounges. Having the RC card is clutch.
@@ToboeKey309 Yeah, downgrading to Green is an option too. I won't make any moves until my renewal fee comes in next year though. Gives me time to think through the decision.
Sacramento is my home airport. Yes, I frequent the Escape Lounge all the time. I was pleased that it’s a Priority Pass Lounge now. I use the Centurion Lounge more as a back up now.
AF just posted. I’m going to call them on Friday and ask about a retention bonus. If they raise the price past the price of two priority pass unlimited memberships I’m probably done. Lounge access is the only thing keeping that card alive for me.
Good luck getting a nice retention offer! Those can be hit or miss depending on who you get so you may have to try a couple of times to get a good one 👍!
@@TheCreditFrog I could understand it more in your case as a biz traveler. I'm not, but took advantage of the 150k sign up. I used it for 3 trips, but I find little use for the actual card versus the fee. Conversely, I cannot wait to downgrade my Ritz in order to obtain the Brilliant. The use case scenario is much more easier to justify the cost (for me). I don't mind fees but I want outsized value.
@@kinart2543 That's fair. I used to also be the same, but the whole coupon book thing is starting to get taxing so I'm trying to cut down where I can! Brilliant is a great card for that Platinum status and 85k FNC! Maybe afterwards, you could upgrade back to the RC if you're so inclined!
@@TheCreditFrog I totally agree on the coupon book. I have zero need for Saks, but following Sebby, I get the sunscreen. When Amex ditched the Audible credit, I was furious. Visually disabled here, so thst was big for me. As for the RC, the travel credit matched with the Brilliant Dining Credit, Free breakfast, 2 85K nights and Plat Status, is just about Heaven. The effective annual fees are basically free with 2 or 3 stays per year. But more than that, I find the Boundless 35K award often unusable in desired average locales. I've noticed quite a few 51K night hotels, to eliminate "topping off". I'd rather pay a bit more to eliminate the nonsense.
If you're referring to me canceling the Amex Platinum card, it's something that I'm thinking of doing - decision to be made in 2025 at it's next renewal date. Given recent changes with Amex, it's looking more likely than ever at this point though.
Please cancel.. convince others to do it.. I love it when you and the other YT influencers talk about canceling their Amex P card. It just means less people in the Centurion Lounge... LOL. Especially with all the other lounges getting overcrowded with more cards having Priority Pass. Personally I hope they raise the fee and more people cancel to thin the line out more.
Hey, I'm happy to do my part! The issue though is that even if I cancel the Platinum card, it's not like I was going to the Centurion lounge at a regular frequency anyways. But yeah, it sounds like you know first hand how crowded these Centurion lounges are. Sadly, this is the state of the airport lounges in 2024, but hopefully there can be more redistribution so we all can be happy with our options.
I'll add one more: Amex Customer Service is absolutely horrible. Chatting just wastes time, in the end you have to call. Chat has always been India where they are trained to not offer anything which they think might cost Amex $, even if it is clearly the right thing to do.
I've never had too many problems with Amex CS and they're typically able to solve my issue. The amount of switchboarding though is kind of ridiculous, there's so many transfers to so many departments! That's my one gripe with Amex CS
The 2024 Amex exodus will be biblical. So it was written. So it shall pass. 😂
It's the beginning of the end of the reign of Amex in my portfolio. But I'm just not their target customer (anymore).
@TheCreditFrog same here. Ritz card and Altitude Reserve are my 2 high-end cards. I appreciate you being logical in your strategy. Others tend to maximize value at the cost of simplicity.
And somehow revenue and profit will rise. I'm thinking about getting their stock instead of their signature cards
@@Adiscretefirm There's actually an idea right there! It's a good time to buy.
@@TheCreditFrogthey are losing a good customer and I should say customers!
Stan this was my main factor as well. I only have one lounge in Columbus and it’s an escape lounge. And it’s now a PP lounge. All but sealing the platinum’s fate.
You’re the first person I thought of when I read the announcement that the escape lounges were going to priority pass. Now Adam and his damn kids can get in.
@@IamtheWalrus64 the times… they are a changing
I certainly remember when you canceled your Platinum card. I was still hanging on, but then when this news came out where Escape lounges are PP lounges, whelp, that was it. I have other cards that can cover that, and I'm all about eliminating prepaid coupons when I can!
@@IamtheWalrus64 I think I saw Adam and his kids in line that day 🤣
@@TheCreditFrog I feel ya
I absolutely love and agree with your take on this Stan! This “lounge meta” is definitely taking a turn south with how hectic & inconvenient the lounge experiences have progressively become. Your content is 💯 as always!
Thanks! Yeah, it was getting to the point where it's getting ridiculous and the opposite is true - where the terminal is the calm place and the lounges are the madhouses. Hopefully, there will be some solutions for this soon, but terminals always have more room to expand then lounges so it's not looking too good unless there's a bunch of new lounge openings soon.
Possibly making the 8 PP restaurants on the USBAR even more valuable!
@@DugrozReports Absolutely Durgroz! It's great for those occasional travelers, even with those with a family that travel once per year!
I recently experienced something similar at Nashville airport. The Delta Skyclub and other lounges were full. I went to a restaurant near my gate and only spent $20. Although i would rather save the money, it was relaxing being 10 yards from my gate vs having to walk across the airport right before it was time to board.
I still like the Centurion lounges and although I've only had to wait at LAX once (same Nashville trip) it does seem like in most places it is becoming like priority pass where it will be hit or miss on access.
Yeah, thanks for sharing your experience JP! Lounges are getting increasingly full and we had similar experiences having a more quiet and relaxing time just eating in the terminal. It’s quite sad really, but I feel that if I’m paying $695 per year for a card for lounge access, the lounge experience matters! Hopefully they can fix the overcrowding issue, but I’m not holding my breath!
Big bummer about certain lounges like Escape lounges becoming more saturated with Priority Pass Members having access as well. Like you said, this can be seen differently on both sides, with people that only have PP access, liking that change. However, obviously saturation in certain lounges plays a factor, and with that SAC lounge specifically already being pretty busy even before PP access added, it could make Lounge access for you less valuable, especially since it's a major route for you. I think Home Location by far is the biggest factor in what lounge access each person needs, and so even though there's some things I don't like about the Platinum, I'm still excited to get it just due to Seattle having a really nice Centurion Lounge, and it being my home airport. I love all of the personal examples in this video- it's what makes experiences like this so relatable & helps better understand which Cards truly make sense. Great video Stan!
Thanks Matt! Yeah, I agree. Your home airport is going to play a big factor in which of the luxury travel cards are going to make the most sense for you. Since you have a Centurion lounge right at your doorstep, it's going to be great to see how that fits into your travel habits! The time you fly out is also going to play a factor since traveling on a peak travel day will definitely make lounges much more crowded. During off-peak travel season, the lounges are certainly much less busy so we'll have to see what happens once fall and winter comes around. Yeah, these experiences are definitely what brings these cards to life and I'm happy to hear that it was relatable 👍
Very well done. I’ve been hearing the centurion lounges are getting worse with overcrowding. I’m in Canada, our yearly is $800 for platinum.
Appreciate it! Yeah, seems like AFs are going up everywhere these days! I wish overcrowding would be less with higher AFs, but they probably won't be.
This is definitely a pertinent topic these days... On my trip to Croatia recently, I had to join the waitlist for the Sapphire Lounge in JFK and although it didn't take too long to get in, it didn't feel as much like a premium experience as it would've otherwise, especially with how crowded it was once I finally got in. I can definitely see that being true with the Platinum card/Centurion lounges to an even higher degree. Great video as always brotha!
Thanks Spencer! Yeah, lounge waits are very common these days, and you're right - when we pay for a "luxury" travel credit card, we kind of expect a "luxury" travel experience. We'll have to see what happens as we move forward, but I'm pretty sure that lounges will continue to be increasingly overcrowded, even with the opening of additional lounges in the future.
“And for that reason, I’m out” 🤣. I’m missing the good old days when the platinum was undisputed. All the other options look like emergency alternatives to me
Haha! Yup, I'm going to shark tank this Platinum card! I know, times have really changed in the past few years, but it's because there's more choices than ever to achieve the same thing in the credit card landscape, and the competition is just going to get more intense as more products and changes are released! I'm going to go with the company with less annual fees and statement credits, but that's just me.
Already cancelled this card is a joke and AMEX is falling off hard. Losing benefits and value while adding annual fees and also offering new 🗑️ tier benefits that don't even fit the cardholder. I spend six figures on my AMEX platinum and these 🤡 are adding Walmart as a benefit 😂 theres no one who shops at walmart or cares about a measly $50 saks credit or $10 for uber. The entire card is a joke
Yeah, it's too bad that Amex has become a coupon book company. We'll have to see if there strategy pans out, but so far, it looks like it is with record profits. Of course, the Platinum card is only a small part of that, but they definitely have a certain demographic in mind for their target audience, and it's likely people who don't care as much about statement credits.
You are 100% correct Stan! Only reason I kept it open is because they gave me a 35k retention offer and I was also gonna have 2 friends apply for a card for a vacation at the end of this year which means some referral bonuses LOL
Hah! Very nice Eduardo! Gotta get that MR cheddar. Pretty sweet though that you're able to get some referral bonuses from the card + retention. Those are the only reasons to keep the card around long-term if you aren't able to use the credits + benefits
Great analysis Stan! Lounge overcrowding is kind of a paradox to me - I want people to enjoy the lounges, but I also don't want it too be too crowded 😂 I seem to be moving in the other direction with Amex than most, in part because a Centurion just opened up at DCA (my secondary airport).
Thanks Josh! Yeah, it's actually quite sad and unfortunate that sometimes the terminals are actually a better place to be than the airport lounges. It really does depend on your home airport though! You have both IAD and DCA to choose from, but if there's only a Centurion in DCA (not sure if there are others), then that would certainly make sense for you if you wanted access to that lounge! IAD has tons of options so you have the flexibility of choice.
I hope C1 opens up a lounge there too
@@TheZombaslaya another full lounge there would be awesome! They’re working on a “Capital One Landing” there, though it’s been under construction forever now.
Nice video Stan. So in contemplating cancelling Amex platinum for access to your specific use case of visiting Escape and PP lounges, what alternate premium travel card are you looking at to replace the Platinum? CSR? Ritz card?
Thanks Juan! I have the RC for PP and Saphire lounges and USBAR for PP restaurant access (8 times per year, which is fine for my purposes). I also have the BofA PR Elite that gives me unlimited PP restaurant access, but with my travel patterns I've had the opportunity to go to PP restaurants 0 times in the past several years so it's not something I probably need either, and that card may also get downgraded too!
@TheCreditFrog Assume you are referring to downgrade BOA preferred card and not USBAR for access to PP restaurants correct?
@@JuanGarcia-hr1wf Right, yeah the BofA PR Elite will get downgraded. USBAR will be kept for sure!!
I actually fly from Sacramento to Southern California on business frequently and I know exactly what you mean.
It’s easier to understand when you live it like me! 👍👍👍
If you’re leaving Centurion lounges for Chase sapphire lounges due to overcrowding, you’re in for a rude awakening.
So far the crowding has been just as bad at CS lounges, in many ways worse.
I don’t know if I’m leaving Centurion lounges for Sapphire lounges necessarily. The point I’m trying to make is that the PP on my Ritz Card satisfies my lounge needs, whereas I’m paying $695 for Centurion lounge access when I don’t really need it.
Closed my platinum
Nice
AMEX seems to have a strategy of getting people using their cards, and then upping the price once they feel they have enough people sunk into their system.
Haha, that's for sure. That's why we can vote with our wallets if they want to increase the price and simultaneously limit the benefits!
@@TheCreditFrogagree. The major limitation for me, once I have kids, was when they removed free guests at CL.
So,I know this isn’t the main topic, but Stan mentioning this card made me wonder: why would anyone get the Delta Reserve? You get lounge access with the Platinum Card, even if you’re NOT flying Delta.
I think it's more for those who travel with Delta and want more SkyClub access. But with the refresh it's also for the MQD boost and status, but this card is super expensive too so I'm not sure. I've had this card before (2022-2023), but only for the welcome offer and the 747 metal.
Just cancel it and get the Business version, get the bonus and cancel it and get another NLL link for the personal, rinse and repeat. I am sure you make the AF in YT money so why not.
Oh yeah, business Platinums are still on the table for NLL offers. I would probably alternate that with Ink cards depending on the level of spend I have to do.
@@TheCreditFrogsame here. I ditched 3 platinum cards (2 vanilla and 1 Schwab) and right now I have 2 business platinum (1 NLL) for the welcome bonus, but I’m pretty sure both will be cancelled when the AF hits!
@@pauloleobs NLLs are where it's at!
I have considered going the Business Platinum route, excellent business leverage I'm pre approved with a likely instant approval. I would cut the personal Amex Platinum next year in place of the business version next year I'll decide.
Guys, NLL business platinum is where its at. Nearly identical to personal platinum but much easier credits.
Stan!! Good video sir. I dont blame you for contemplating cancelling the Plat considering your circumstances. You have to do whats best for you brother!! Sounds like you have lounge access that you need, based on your travel habits, covered elsewhere.
Thanks so much Jon!! Yes, the Platinum to me is a lounge card and since I have a lot of other cards that can fit my lounge needs, the card is on the chopping block! I kind of wish there was a nice Centurion lounge I used more often, but the thought of chopping $695 off of my annual fee list as well as countless statement credits is also very cool to think about!
Awesome video Stan. I predict you will dump it come renewal time, since you will (presumably) always have the Ritz card.
Thanks Dugroz! Yeah, now that I've sat on this video for like a month, I'm definitely leaning more towards the cancel side unless they make some benefit that's truly unique to this card, which is highly unlikely but possible.
Thank you Stan! You have just shown us all that strictly relating on keeping a card for lounge access in 2024 is not like it used to be. The over crowding and noise does not make the experience premium at all. Thank you for sharing your experience and thoughts! I appreciate you ! ❤
Of course Joe! Yeah, the lounges are not like they used to be, and with annual fees going up, I think more attention than ever needs to be paid to ensure that the value is there. If we pay for a premium product, we should get premium results and not long waits and queues!
@@TheCreditFrog you hit it right on ! We also have so many more options available to us now that we can actually pick and choose and not just accept what’s “given” to us!
Maybe Amex will turn around and give actually good retention offers again and it'll be worth it for another year 🤷♂ +1 on the Priority Pass lounges, especially in the US.. they're either always full or honestly not that amazing anyways. Having no guests on the Centurion lounge accesses is also a bummer especially if you travel with groups often. That said, until SeaTac gets better options, think I kinda have to stick with the Amex Platinum! Unless I go for AA Executive and get Admirals club for Alaska lounge access that is
Yeah, we'll see what they offer, but the thought of being able to cancel this card, it's annual fee, and all the statement credits also sounds pretty alluring too. In your situation, yeah, if you have the Centurion in Seattle, then certainly this card is worth it for your travels! You travel a lot internationally so it probably makes more sense that going with a domestic US carrier like AA or Alaska, unless you start flying more domestically!
@@TheCreditFrog 100%, though those AA/Alaska miles are pretty nice for JAL and others too, so could be worth the trade-off if there's a really high welcome offer!
I had the similar brainstorming process with my AMEX Platinum, and I decided to cancel it.
Here my reasons:
1. In the last 24 months I only visited two airports with Centurion Lounges. I was not able to enter ( full capacity and long wait times)
2. My Home and Frequently airports only have Priority pass Lounges or Plaza Premium Lounges ( you can enter to plaza premium with the Venture X card)
3. I only value a few of the credits
4. Clear is a joke in my frequent airports , you get faster in TSA pre check line.
5. 80% of my travel is abroad.
6. FHR properties has come more restrictive and significantly more expensives
After all that, I decided to cancel.
Thanks for laying all that out Jayson! I had similar experiences with basically everything you said, except most of my travel is domestic. There are certainly a lot of reasons for you to cancel the Platinum card, but the good news is that there are a lot of alternate cards that we can use for lounge access that make more sense depending on our travel patterns.
Love the video. Thanks for sharing. I’ve had an Amex P for almost 20 years. When I got it the cost was much less. As lounges opened there was little to no waiting and my wife could join me free of charge. Now the costs just keep going up and the benefits that I actually use keep drying up. I feel like the value of the card has gotten so diluted because so many people have it. If I add up all the benefits I actually use I don’t get that value in return. I’ve already decided to “downgrade” to a lesser Amex at my renewal time.
Yeah, times sure have changed! And costs keep going up and up. But I agree, the "exclusive" nature of the card has really been diluted and with lounges not keeping up with volume, it just ends up being not the experience you'd expect from a premium travel credit card. I'm still on the fence between downgrading to the Green or just straight up canceling, but I guess one factor I need to figure out is if the Morgan Stanley version could even be downgraded. It may not be. The Green might be nice for CLEAR, but not sure if it's worth it in the long run.
I wanted to cancel the card 3 years ago but they keep offering me retention offers so I took it for the 3rd time lol
That's how they get you, haha!
We only fly 2-3 times per year, and our typical flights from D Gate in Las Vegas will soon get a Capital One lounge. FHR is fine, but we only use it with the credit too. Being local-ish, I prefer off strip places like Virgin. I intended to cancel in May, but Amex gave me a 35K retention offer. A week later I saved $350 on a cruise offer, and realized I should probably downgrade to a charge card with the same targeting, now that we've switched to a travel agent that actually takes Amex. With 3X on travel, The Amex Green is looking like the answer.
Lots of changes in your setup as well! First Delta to Alaska, and now this! The Green to me is also looking a lot more reasonable, but not sure if the MS Platinum has that downgrade option. The Green would be great for those target offers like you mentioned, but if you have other Amex cards, sometimes there's some overlap with the offers on Amex co-branded cards. Of course, you won't earn MR points on those, but still good savings!
@TheCreditFrog Yeah my setup has drastically changed, including BILT + Hilton Surpass for dining and grocery, a return to Capital One Spark after Chase botched 1/1 chargebacks with the Ink Premier, and Cash+ and Max Cash for home and office utilities instead of Wyndham. The Amex Biz Gold + Delta Business Reserve were both replaced by the Alaska business. It has been a year!
Oh, and according to the cruise blogs, only the personal Platinum, Gold, and Green cards have been getting the cruise offers I use. Co-branded cards haven't been targeted within the last year.
@@thejokerspeaks Oh, thats interesting, thanks for leaving that data point! Great to know for those who cruise 🚢!
Makes perfect sense Stan. I would probably cancel if I was in your situation. Biz Plat is my main lounge card. I live in a smaller city so frequently use the lounges during connections and have pretty good luck with no wait to get in (usually). It’s worth $695 to me. I use most of the credits and I probably would spend $200/year on airport food if I didn’t have lounge access.
Yeah, I think the decision is all about which airports you frequent the most. As you're in a smaller airport, it becomes trickier, but given how much you travel, you've figured out a good routine of how to avoid the lounge crowds! The Platinum is still a solid card, and since you use most of the credits, even better! I just wish lounges were less crowded since, on my personal trips, I fly during peak travel days just like everyone else.
Since I re added the personal Amex Gold alongside the Amex Business Gold card, I'm going to reevaluate whether to renew my Amex Platinum card next year. I hope to start traveling sometime this year or next year and if I do I would consider keeping it. I will see how the rest of the Amex cards revamp this year and what value they bring this will also help me decide what moves to make with the Amex Platinum.
Yeah, I think once you start traveling, you'll see if the Platinum card is worth it or not. When it comes to lounges, it really depends on a lot of factors including what lounges are in your home airport, when, and where you typically travel. I'm hoping the Amex Platinum gets a refresh within the next 9 months or so, so I can re-evaluate, but if history has taught me anything, it's that the AF is going up and there's going to be more credits so things aren't looking good either way.
What do you think of the HSBC Premier and Elite cards that were just revamped on August 6th? The Elite version seems to be very well positioned against the Amex Platinum card with a broader defined travel category and a much lower annual fee. Maybe worth a review and compare?
Just took a quick look at both cards. Thanks for the tip! I'd have to look into it deeper, but to me, there's a lot of credits on the card (including a monthly credit) and to get the travel credit you have to spend $2k to get $100 back, up to $400. In addition, they have transfer partners, but a lot of them are not really worth it as they're not 1:1 as a transfer. I'll look into it more, but it could potentially be a Platinum card alternative for the right person, but just from first glance, I think it would be a hard sell.
@@TheCreditFrog Yes agree, on the positive side their 5x travel multipliers are much broader than those of the Amex Platinum (the broadest I've seen of what qualifies as travel) and don't require purchases through a travel portal, which is pretty good. On the negative side, their "coupon book" credits are even more complicated than those of Amex and their transfer partners somewhat weaker. Maybe worth a deeper dive to see if the positives and the lower annual fee can offset the negatives...Thanks Stan.
I downgraded my Platinum to Gold card in 2023 and decided to keep it in 2024. Few months later I was invited to upgrade by spending $2K and earn 50K of points. I plan to take this perhaps in Nov-2024 if still available!
Very nice upgrade offer! Since both the Gold and Platinum are coupon cards, it's going to depend which card (and its coupons) makes more sense. The 50k MR points is solid though so if you need a big influx of points, that would be the way to do it without adding a new account!
yes have the same feeling about the plat, its about to get chopped. venture x, ink pref, alt reserve, aspire are my alternatives as more spend/swipes makes sense vs the plat, for my setup.
Lots of great travel cards in that mix! But yeah, with increasing costs, downsizing is important to keep those annual fees in check!
Last week, Amex offered me 100K to swap my old Gold for Plat. We hit the Centurion lounges in PHX, IAH, and DCA, with SEA coming up Friday. After a year, I'll get bored with the Plat again and downgrade or cancel.
100k is a solid upgrade offer. Very nice! Sounds like you're using a lot of the lounges too! Nice way to get some MR points is to play the downgrade/upgrade game!
Unless something major happens I am getting rid of my Amex Platinum card at renewal. I was going to do it last year but figured I'd let it ride again. Almost immediately regretted it. I find that I am not traveling like I used to and the only reason to have this and the Gold card was for that. I'm getting tired of the high AF, the coupon book experience, and the fact that I just don't use most of the features. With regard to lounge access, I've only done it a few times and most of that was bad due to overcrowding. IMHO, lounges should be an escape from the terminal, not the very same experience in a smaller area. I like kids, but they should definitely not be there.
Yes, the coupon book experience is really what has made this card super annoying, especially with it's high annual fee. Lounges should live up to their name and, like you said, be an "escape from terminal," except now it's backwards, the terminal is an escape from the lounge.
Just canceled mine after 2 years. Airline and uber are the only credits I could really use. I used FHR/THC once just to get the credit, everything seems way over priced. I've used clear maybe twice, I'm fine with just pre-check. I have only visited centurion lounges 3 times since I held the card. First two were fine, but last one I had to wait 45 mins to get in. I've also had bad experiences with the monthly credits being charged twice in a month, losing the credit for the next month. Amex customer service didn't want to help with this. This card isn't for me.
Yeah, that was probably for the best. On the plus side, you definitely got the value in the first year with the welcome offer, and since you used a lot of the credits, I'm sure you got enough value to make the AF for the 2nd year. This card is becoming increasingly less valuable though because there are more lounges these days as alternate options and the Centurion lounges are usually at capacity, which really isn't great if you're paying for that "luxury" or "convenience." I'll likely be the same as you, and close my card next year, which would be my 3rd year with this card. Not for me either.
I downgraded back in April. The lounges are a joke now and so is the entertainment credit. FHR properties have been a miss for the last three years.
Yeah, the lounges get super crowded, and I agree, the FHR collection has been going downhill for sure.
I agree that’s the platinum for the fee it has, isn’t that so well good for lounges, BUT for those who keep their credit game short and simple, this or the reserve will do just fine.
Yeah, it also has to do with your home airport. If you use Centurion lounges then Platinum is the card. If you use Sapphire lounges, then clearly CSR/RC will do!
@@TheCreditFrog 🎯
I really don't want to pay the Platinum annual fee this year, but I'm not sure what I want to do yet. I go to many Centurion Lounges but maybe I can find alternatives
You have time to figure it out! I'm actually curious what the lounge situation is like abroad since you travel so often! I'd bet that there's a lot of Priority Pass options that are just as good?
@@TheCreditFrog yeah I really only need Priority Pass internationally, but in the U.S. it’s nice to have other options
Thank you, for walking us through your detailed thought process. Guess, I am just an "odd ball" because since the 1980's, I have had a Lifetime membership card for the United Airlines Club. So, paying to have airport Lounge access why, would anybody do that? When traveling, I just use my American Express business "Plum" card (smile ... smile).
Lucky you! I wish all of his had the foresight to get one of those cards back then too. It's nice you have lifetime access - awesome!
hi, if you already have the personal Capital One Venture X and you apply for the biz version, will Capital One again pull 3 bureaus? thanks
Not sure. I’m pretty sure they will but can’t confirm.
Do you have one or 2 platinum cards? Or only the MS platinum?
I currently have the MS Platinum and the Business Platinum.
They need bigger lounges - it’s disappointing bc many people including myself get this card for lounge access and want to bring a friend but now they have to pay 50$, Amex is making it clear these lounges are for the solo business traveler which isn’t me - I will Be considering closing mine and moving towards chase setup with altitude reserve as catch all
They definitely need bigger lounges! Yeah, the guest thing sucks, but it's probably to help limit access to the already overcrowded lounges! USBAR + Chase setup sounds very strong and a great goal to move to!
I'd be tempted to keep the free AU Platty. I keep the platty just for lounges. Most Amex lounges are next level. Centurion, C1, and Delta are top priority - I'll pass on Priority Pass if there are other options. (It is nice to nix a few cans of Diet Coke for the plane ride when flying Spirit.)
I would keep it too, but I think for me, I would be ok with just PP lounges, especially because I don’t fly through major airports that often. Of course, it’s amazing when I can go to a Centurion lounge, but then when I get there, there’s usually a line or it’s packed or something. At least that’s been my experience since for my personal travel, I tend to fly on peak travel days. MS Platinum is a one time shot though. Maybe it’s a sign to move to the CS Platinum at the very least!
But but but..
The Eqinox credit!!!!! Lol. Thanks for the video Stan
Oh shit. I forgot about that one. The Equinox is only 2 hours away so I need to get in on that! 🤣
It seems we follow some similar paths Stan😊 This was a measured and thoughtful analysis of the Amex Plat benefits proposition. I have found the lounges, including the new famed ATL Centurion disappointing for similar reasons. Everyone having access to something kills exclusivity and value - universal law😎 It would be a shame for the Centurion to go the way of Priority Pass lounges in the US. CC companies are struggling with the right value proposition and price point for luxury lounge access. 1st/Bus class Int'l travel does a much better and realistic job imo. Thanks man👍🏾
Of course Nkosi! Yeah, I was thinking the same as well. As I'm gearing up to take my first international trips in a while, a lot of those tickets include access to lounges anyways so I'm not sure if having the additional lounge access is really that necessary. Of course, having more flexibility is better, but if other cards are offering similar lounges for a better price point with free guests, why would I pay more? Appreciate your support as always bro!
Rip to the platinum. My home airport has a centurion lounge but I wouldn’t use enough credits to offset the fee and my wife would need to be an AU so I never applied for it. Now the escape lounge in one terminal is PP accessible and a sapphire lounge is opening in the other terminal 😎
Yeah, just having one CSR or the RC card would work great for your situation Cody! I never understood why they made Escape Lounges PP accessible but here we are, and now we're having this conversation. The best lounge card is clearly going to be based at that home airport.
You know, you can book a pretty fine hotel and/or resort for $695 per year .... :)
Ha ha!! I see what you did there! 🤣 So true though.
Haha geez that line for the Vegas Centurion lounge ... I mostly frequent the JFK or LGA ones and (surprisingly) the lines have never been THAT crazy. Anyway love your plan to live as if you didn't have the Amex Platinum for a bit. You certainly have good lounge coverage with your other premium cards. I'd be similarly conflicted if I had the MS Platinum as that free authorized user perk is no doubt powerful.
For sure Monty! Yeah, it was a peak travel day so that's definitely part of the equation too, but lounges have certainly been more packed even as new ones have opened. I've heard great things about the JFK/LGA lounges and it sounds like those ones are pretty big, but have their overcrowding issues at time as well. We'll have to see how that shakes out! Of course, having the MS Platinum is also another issue as well because that free AU is a pretty nice benefit of this particular Amex Platinum version!
I just downgraded my platinum to a green card
Held the platinum for 5 years
Just tired of forced spending when I hold Venture X and BOA Elite cards
I still feel sad about it as I loved many things about that card
I still have my Delta business reserve for Skyclub access however and maybe the occasional Centurion Lounge
Yeah, the Platinum has so many credits now, and since you have other luxury cards like the C1VX and BofA PR Elite, you still have some pretty good lounge access. I also love the card as well, but in it's current iteration, it is making less sense for me. At least we can keep the physical card and its designs as a keepsake from better times!
Just canceled mine yesterday
$695 saved!
Great video Stan! I totally agree with you. The Ritz Carlton card for the win!
Thanks Paulo! Yes, the Ritz Carlton card is such a clutch card right now!
I didn't know doctors fly so much for work.
Also, I think most people care about the centurion lounge because of free alcohol. As a non drinker, I also wouldn't wait in line.
It's certainly not typical, but there are travel docs just like every other profession! Yeah, I agree Mason, alcohol is also a consideration. I don't drink while traveling because I get dehydrated enough already so I stick to mainly water in the lounges! But I get food... lots of food.
I have been planning on getting the Platinum card in 2025. I saw a 150,000 SUB, but I am reconsidering as I am mainly travelling to the west coast on Southwest for the next few years (while youngest is in college). Also, I am also considering cancelling the Gold.
Yeah, the issue with the Platinum card is that pesky $8,000 MSR now, although it is in 6 months so that's not so bad if it's spread out like that. I've found this card to be great with Southwest as it comes to purchasing flights, but I'll probably look into getting the Companion Pass this upcoming year since it's such a great bargain! That Gold card is super polarizing - definitely not for me, but would probably get you a lot of MR points if you have young kids that still live with you.
@@TheCreditFrog I’m an empty nester now so I am not getting as much spend on the Gold especially since we often shop at Costco and Target.
I can make the $8k spend over 6 months for the Plat. It might be worth it for the SUB.
I earned the CP for SW and I haven’t bought a ticket yet since I’ve used my Chase points for those flights.
Recently stopped by the DFW lounge and it was crowded, so much that it was not enjoyable. I had wished I had access to the Capital One lounge because it seemed bigger. I ended up getting a Venture X when I got home. May cancel the Amex Plat.
You know, funny story. I tried to pay to get into the C1 lounge in DFW (no C1VX card for me), but they said they were full. I went to the DFW Centurion and they weren't at capacity (but were still very busy) so I was able to go in and check it out. Still very busy for sure. It certainly is going to depend on the time you travel as well, whether it be peak or off-peak travel days.
Stan any tips on how to get a better upgrade offer from gold to plat?
No, sadly I do not. But the more you spend across all your Amex cards, the better offers they'll probably give you.
I'm canceling mine next month.
🙌
I'm also canceling the Gold next year. Luckily, I renewed right before the new annual fee.
SMF is my nearest airport and Im glad i can access it with my CSR
Yeah, it's a plus and minus. That lounge needs to be bigger somehow and its already full at peak times!
If you can get the MS Platinum AF reimbursed l, why cancel it?
I don't want to leave $25k in a Platinum Cash Plus account, which is a non-interest bearing account. Doesn't make sense given the current interest rates.
I've never been to an airport lounge, but it's always interesting to hear the perspective from folks on that side of the credit card world.
Hypothetical Stan, but would you keep your platinum if Amex gave you 100,000 MR points to stay on the platinum for 1 more year?
Good question! Yes I would. As long as I get enough MR points to cover the entire annual fee (69,500 MR points), I would keep the card. Anything less than that would be a no go.
You’re not missing much. Lounges over promise and under deliver usually.
Do California Pizza Kitchens in airports trigger the USBAR annual dining credit
It codes as restaurants on Amex (CPK doesn't code as airport) so I would venture to say that yes, it would count for the USBAR dining credit
How does one get the Chase Ritz Carlton? They’re no longer signing new applicants…
You must product change from a Chase Marriott card after holding it for 1 year. You also need to have at least a $10k CL on the card.
@@TheCreditFrog any Marriott card would do? Even the $0 Bonvoy Bold? Would my chances of getting a higher credit limit go up on the higher annual fee card?
The scenario I was thinking of doing is replacing my CSR with the Ritz-Carlton + CSP. I think this set up is the same Annual Fee and similar benefits but I would get more from Ritz-Carlton
@dw4421 yup, you should be able to do the Bold too! I would say the Boundless is a better option since the welcome offer is usually better and you get an anniversary FNA you could earn before doing the PC. I personally converted my Bold to an RC card, but I had it for several years first and it was PC’ed from a Boundless originally. I like the idea of replacing the CSR with the RC and that’s kind of what I’ve done except in my situation, since I have the RC card, I have no need for the CSR
@@TheCreditFrog exactly. DoorDash $5/month credit (up to $15 saved) is nice to have but im ok with not having it. Lyft Pink was cool to use when I was traveling a lot more for work but now the free 2-year membership for me is expiring so I’ll lose that benefit soon.
I’ll still have the CSP to transfer my points to partners for flights and to Hyatt. With the RC, I’ll also have Marriott Gold to sleep around with.
Thanks Neno! Glad to be here, haha!
@@TheCreditFrogby the way , I got approved for Chase Ink Cash this Sunday. Not credit limit I wanted only 1.1k , but I take the approval.
Take the approval Neno! It's all about the welcome offer anyways, congrats on the new card!! 🎉💪
@@TheCreditFrogmostly definitely 💯 I was looking forward this card for a minute. Patience truly pays off . I just need two other cards from Chase and I am good to go.
Nice video Stan the 🐸. Ask for a downgrade with a retention offer to the Amex Green
Thanks Chris! Yeah, I hope the MS Platinum has a pathway to the Amex Green, I need to check on that, but that would be a nice option.
Amex is just getting ridiculous. Such high fees and coupon management. They are gonna alienate the majority of their customer base. At the end of the day, only appealing to the top 1% wont pay the bills. The amount of clientele in this demographic is actually incredibly small. The fontaine blue in las vegas has the same problem.
For sure! Amex is just crowding out users due to their annual fee raises and couponing, but they do know they're audience very well. Sadly, I don't think we as credit card min/maxers are their target audience, but that's to be expected. In any case, we can vote with our wallets!
If enough people cancel you can get more coupons
More coupons are coming. $4 increments are next, and semi-monthly frequency!
Guanrateed you will keep it. Then make another video same time next year.
Mmm.. not so sure about that. I filmed this video about a month ago, and my resolve to cancel this card is stronger now with the Gold changes. We will see though, I have a year to figure out if it's the right move for me.
@@TheCreditFrogsee you next year 🫡
Don't you need an AU card for your wife to visit the Centurion lounge with you since guests are no longer complimentary... unless you spend $75k a year on the card.
Oh yes, good point. That’s another important reason to have an AU 🤣
after watching entire vid, i’ll be surprised if this cancellation truly comes lol
We'll have to see! I do have until next year to figure it out, but I'm certainly leaning towards a cancel decision. It would be super nice to shave $695 off my total AFs!
Cancel this coupon book, I cancelled 5 years ago, and I don't miss it.
Yes, sensei Yuri. I want more value and less coupons!
With any justice enough people would realize this, downgrade, and naturally reduce crowding. We all know that’s not going to happen
Yeah, well. We can only hope! Personally, I'm not going to pay for a card that does not get me the experience that I expect, especially if there are other cards I could use for the same thing!
@@TheCreditFrogfor sure! It’s always funny how little these credits get appropriately discounted in these “effective” AF convos
Hope to see you in NOLA!
@@WhatsThePoints1 Haha, that's for sure! Yes, I will be there!
Aren’t you getting the $695 annual fee reimbursed by Morgan Stanley anyway? I thought that was part of the deal when you opened it.
Whoa! Stan must be loaded!!!
I did while I had the Platinum Cash Plus account, but you have to hold $25k in there in a non-interest bearing account. When I opened it in 2022 when the interest rate was 0.5%, it was fine, but now it makes no sense to do so, so I closed it. Now I just get the Free AU, but maybe not for long!
@@jsbatra Morgan Stanley is not my favorite brokerage. There are so many better ones out there!
Noooooooooo 😲
Haha, the KING of annual fee credit card speaks!! I know, sorry to disappoint, but the Amex Platinum may go the way of the dinosaur for me 😕
@@TheCreditFrog😂,. You are smarter than CJ, so you get a pass for canceling the beautiful Amex Platinum 👍🥂
@@Leoprieto74 Haha, hey now, CJ is pretty smart! He was able to get first today!!
@@TheCreditFrog 😂,.. CJ is supposed to be working at this time,.. not watching RUclips videos 😂
Your making rethinking If i'm going to keep my Platinum card. I have the Ritz card too.
Just downgrade your platinum card to a no annual fee card cuz u have the Ritz card 😶🌫️😶🌫️
Yeah, if you frequent Centurion lounges a lot - still a great card for that access! But it depends on your home airport and how often you get to Centurion lounges. Having the RC card is clutch.
@@ToboeKey309 Yeah, downgrading to Green is an option too. I won't make any moves until my renewal fee comes in next year though. Gives me time to think through the decision.
Sacramento is my home airport. Yes, I frequent the Escape Lounge all the time. I was pleased that it’s a Priority Pass Lounge now. I use the Centurion Lounge more as a back up now.
@@TheCreditFrogdoes it possible to downgrade those platinum flavours? I didn’t know that.
AF just posted. I’m going to call them on Friday and ask about a retention bonus. If they raise the price past the price of two priority pass unlimited memberships I’m probably done. Lounge access is the only thing keeping that card alive for me.
Good luck getting a nice retention offer! Those can be hit or miss depending on who you get so you may have to try a couple of times to get a good one 👍!
I just got mine yesterday lmao
Yeah 1 is always worth it if you get the welcome offer!
@@TheCreditFrog thanks, I read up on this and you're right. You gained a sub.
@@mr350znismo7 Awesome! Appreciate the support
Amex Plat seems like it's everyone's head sceatcher.."DO I really need it"?
Heck no.
Haha that’s true. We all just try to make ourselves believe we need it!
@@TheCreditFrog I could understand it more in your case as a biz traveler. I'm not, but took advantage of the 150k sign up. I used it for 3 trips, but I find little use for the actual card versus the fee.
Conversely, I cannot wait to downgrade my Ritz in order to obtain the Brilliant.
The use case scenario is much more easier to justify the cost (for me). I don't mind fees but I want outsized value.
@@kinart2543 That's fair. I used to also be the same, but the whole coupon book thing is starting to get taxing so I'm trying to cut down where I can! Brilliant is a great card for that Platinum status and 85k FNC! Maybe afterwards, you could upgrade back to the RC if you're so inclined!
@@TheCreditFrog I totally agree on the coupon book. I have zero need for Saks, but following Sebby, I get the sunscreen. When Amex ditched the Audible credit, I was furious. Visually disabled here, so thst was big for me.
As for the RC, the travel credit matched with the Brilliant Dining Credit, Free breakfast, 2 85K nights and Plat Status, is just about Heaven.
The effective annual fees are basically free with 2 or 3 stays per year.
But more than that, I find the Boundless 35K award often unusable in desired average locales. I've noticed quite a few 51K night hotels, to eliminate "topping off".
I'd rather pay a bit more to eliminate the nonsense.
@@TheCreditFrog maybe I jumped the gun on judging 36k night awards..
It's just different with the new pricing.
The green will rise
Yes
Are you going to just talk the talk, and not walk the walk?
If you're referring to me canceling the Amex Platinum card, it's something that I'm thinking of doing - decision to be made in 2025 at it's next renewal date. Given recent changes with Amex, it's looking more likely than ever at this point though.
Please cancel.. convince others to do it.. I love it when you and the other YT influencers talk about canceling their Amex P card. It just means less people in the Centurion Lounge... LOL. Especially with all the other lounges getting overcrowded with more cards having Priority Pass. Personally I hope they raise the fee and more people cancel to thin the line out more.
Hey, I'm happy to do my part! The issue though is that even if I cancel the Platinum card, it's not like I was going to the Centurion lounge at a regular frequency anyways. But yeah, it sounds like you know first hand how crowded these Centurion lounges are. Sadly, this is the state of the airport lounges in 2024, but hopefully there can be more redistribution so we all can be happy with our options.
I'll add one more: Amex Customer Service is absolutely horrible. Chatting just wastes time, in the end you have to call. Chat has always been India where they are trained to not offer anything which they think might cost Amex $, even if it is clearly the right thing to do.
I've never had too many problems with Amex CS and they're typically able to solve my issue. The amount of switchboarding though is kind of ridiculous, there's so many transfers to so many departments! That's my one gripe with Amex CS
What? Really? The Big Daddy! 😮
I know, I never though I'd see the day that I'd consider it. But that day is today.
I hope they raise the fee to 1k so all you brokies get out of the lounges
Haha
👍🏼👍🏼
💯💯
First!
Congrats CJ! You are first!! 🥇🏆
@@TheCreditFrog😃😃😃😊
First?
Almost Dalton! This time you are third! 🥉
First
Almost Ahmad!! 🥈 Edged out by CJ.