fareastwarriors Posted February 27, 2015 Share Posted February 27, 2015 With Revamped Gold Cards, Bruised American Express Returns Focus to Affluent http://www.cnbc.com/id/102462544?trknav=homestack:topnews:20 Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted February 27, 2015 Share Posted February 27, 2015 With Revamped Gold Cards, Bruised American Express Returns Focus to Affluent http://www.cnbc.com/id/102462544?trknav=homestack:topnews:20 This is nice to see. I carry two AmEx cards but neither is my primary because neither offers the awards that the citi doublecash card does. My experience with AmEx customer service is unparalleled and I still use the Gold card for all groceries, electronics, and travel expenses (will add restaurants in June). I'm happy to see that they're focusing on better rewards - I might switch back to making this my primary card if a few more changes like this occur to bring up my average total reward to around 2%. Link to comment Share on other sites More sharing options...
Jurgis Posted February 27, 2015 Share Posted February 27, 2015 Got Amex Gold last year for $400 signup awards. Got awards. Cancelled the card. As I mentioned Fidelity Amex is still my primary 2%-cash-back card though. Link to comment Share on other sites More sharing options...
HJ Posted March 12, 2015 Share Posted March 12, 2015 http://www.bloomberg.com/news/articles/2015-03-12/billionaire-flies-on-amex-points-to-pay-45-million-for-artwork He must have earned a bit more than just a couple of plane tickets. But most of these guys probably don't fully redeem their points, especially if they have their private planes. I'm not very familiar with art auctions, but curious what percentage of transaction at Christies or Sothebys is done with credit cards. I did try to buy a car once on credit card, but the dealer wouldn't take it. He didn't want to pay 2% out of his margin to Amex, Link to comment Share on other sites More sharing options...
Jurgis Posted March 12, 2015 Share Posted March 12, 2015 I did try to buy a car once on credit card, but the dealer wouldn't take it. He didn't want to pay 2% out of his margin to Amex, When I bought used cars, some dealers allowed to pay some percentage with CC. Worth asking, but expect to hear "no". Link to comment Share on other sites More sharing options...
Liberty Posted March 12, 2015 Share Posted March 12, 2015 Got Amex Gold last year for $400 signup awards. Got awards. Cancelled the card. As I mentioned Fidelity Amex is still my primary 2%-cash-back card though. I wish we had cards with huge signup bonuses in Canada, but afaik we don't (at least not in cash -- I don't care about points or miles). Link to comment Share on other sites More sharing options...
bookie71 Posted March 12, 2015 Share Posted March 12, 2015 I wonder how many of Costco's members will renew their AMEX if they are charged a yearly fee? I know I had dropped mine in the mid 1980's because i was using a Visa all the time for airline miles. Link to comment Share on other sites More sharing options...
AzCactus Posted March 12, 2015 Share Posted March 12, 2015 A company that has the ability to make consumers feel "special" or "exclusive" has the ability to charge more and still maintain a very high retention rate. To me its the power of a brand name. If you go to the store and see Skippy peanut butter for $4.00 or store brand peanut butter for $3.40, you will typically pay more for the Skippy and feel like you are getting something better. Link to comment Share on other sites More sharing options...
merkhet Posted March 12, 2015 Share Posted March 12, 2015 I've noticed that AMEX has been running more of those celebrity ads recently. Probably a direct result of Costco'd decision. Link to comment Share on other sites More sharing options...
Jurgis Posted March 12, 2015 Share Posted March 12, 2015 Got Amex Gold last year for $400 signup awards. Got awards. Cancelled the card. As I mentioned Fidelity Amex is still my primary 2%-cash-back card though. I wish we had cards with huge signup bonuses in Canada, but afaik we don't (at least not in cash -- I don't care about points or miles). It was points, but who cares, they are directly convertible to cash, gift cards, usable on Amazon. Cash conversion is below 1:1 though. Link to comment Share on other sites More sharing options...
hardcorevalue Posted March 12, 2015 Share Posted March 12, 2015 I am with HJ on this. I too am very nervous of the effect of Apple pay on Amex's business model ('the cache'). When you pay with Apple pay nobody cares about your credit card, they care about your phone. (Just my opinion of their brand not the stock) Link to comment Share on other sites More sharing options...
ZenaidaMacroura Posted March 13, 2015 Share Posted March 13, 2015 I am with HJ on this. I too am very nervous of the effect of Apple pay on Amex's business model ('the cache'). When you pay with Apple pay nobody cares about your credit card, they care about your phone. (Just my opinion of their brand not the stock) I wonder if people in their teens now even have a concept of AMEX's brand... I have my reservations. Link to comment Share on other sites More sharing options...
innerscorecard Posted March 13, 2015 Share Posted March 13, 2015 There was an article in the WSJ recently about how AMEX might be losing share to high end Visa and Mastercard issuers. Whitney Tilson was quoted as switching to Barclay Card which looks great. I ordered one as it seems like a great deal. http://www.barclaycardarrival.com/arrival-plus/?campaignId=1729&campaignId=2043&od=bcarrival&cellNumber=24&cellNumber=9&referrerid=BCSBA1014HPG Anyone have any thoughts on if AMEX is losing its prestige vs high end competitors? I was thinking that after Mastercard and Visa were "demutualized" they increased rates and now their issuers can go after AMEX. Haha, nice Tilson find. He really can't stay off the media, despite saying he would. He's an addict! For everyone's benefit, here's the passage in question (from Bloomberg, actually): Hedge-fund manager Whitney Tilson used his American Express card for three decades to buy groceries, trips to Europe and just about everything else. A few months ago, he switched. “I charge a lot of money on my credit card,” said Tilson, 48, who manages more than $83 million at Kase Capital Management in New York. He said the Barclaycard Arrival Plus World MasterCard gives him more cash perks while rewarding him for the money he spends on travel. “The difference between getting 1 percent and 2 percent cash back is thousands of dollars and for that amount of money, Barclaycard has a better offer,” he said. American Express Co., long the envy of the industry for its wealthy clientele, is fighting to retain its grip on affluent cardholders like Tilson. Rivals including Barclays Plc and JPMorgan Chase & Co. are courting them with enhanced perks, lower fees and more incentives. And as AmEx seeks to diversify by pursuing tech-savvy millennials and underbanked Americans, the risk of eroding its brand—and its biggest source of revenue—is rising. ... Tilson said he prefers his Barclaycard because it gives him as much as 2.2 percent cash back on travel purchases and no fees on foreign transactions, unlike some AmEx cards. JPMorgan’s Palladium card, available only to clients of its private bank, offers complimentary airline tickets for travel companions and free time on a private jet. Link to comment Share on other sites More sharing options...
Jurgis Posted March 13, 2015 Share Posted March 13, 2015 Tilson said he prefers his Barclaycard because it gives him as much as 2.2 percent cash back on travel purchases and no fees on foreign transactions, unlike some AmEx cards. JPMorgan’s Palladium card, available only to clients of its private bank, offers complimentary airline tickets for travel companions and free time on a private jet. LOL, poor Tilson, he's not a high roller he thinks he is... can't get Palladium card... LOL ;D Link to comment Share on other sites More sharing options...
rmitz Posted March 13, 2015 Share Posted March 13, 2015 I wonder how many of Costco's members will renew their AMEX if they are charged a yearly fee? I know I had dropped mine in the mid 1980's because i was using a Visa all the time for airline miles. I got an Amex only because of Costco. I already shifted to a no-fee card, though, so it’ll just go in a drawer when Costco stops requiring it. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted April 16, 2015 Share Posted April 16, 2015 http://www.ft.com/intl/cms/s/0/71182a70-e3e4-11e4-b407-00144feab7de.html#axzz3XTlKMUsR "Jawbone is moving to catch up with the Apple Watch by enabling its latest wristband to make payments in stores, through a new partnership with American Express." I've used the older generation of Jawbone UP bracelets and wasn't impressed after I had two that were defective over a 4 month period. This would still be positive for AmEx though which is all that really matters. Also, how come there isn't an AmEx thread in the investment ideas sections? Surely some of us are buying it (I've considered but am still taking off leverage in my portfolio so am waiting for a better price or more cash - whichever comes first). Link to comment Share on other sites More sharing options...
fareastwarriors Posted May 29, 2015 Share Posted May 29, 2015 American Express President Ed Gilligan Dies Executive was widely considered a possible successor to CEO Ken Chenault http://www.wsj.com/articles/american-express-ed-president-gilligan-dies-1432925490 Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted June 22, 2015 Share Posted June 22, 2015 Just stumbled upon the Yelp reviews for the Centurion Lounges as I'm pondering if an upgrade in my AmEx card is worth the additional annual fee or not. Seems like there are a lot of satisfied customers which is totally unsurprising given my experience with AmEx customer service. http://www.yelp.com/biz/american-express-centurion-lounge-dfw-airport I still haven't made up my mind if the additional $250 is worth it to me at this point, but I'm definitely excited to try these lounges at some point. Link to comment Share on other sites More sharing options...
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