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  1. #1
    Registered User Junior Member
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    36

    Is Amex raising its annual fees?

    I heard that Amex is raising its annual fees. Is that right? And does this mean they will be offering bigger rewards in return?


  2. Is Amex raising its annual fees?
  3. #2
    Registered User Junior Member
    Posts
    28
    Yep. Fees are up by $100. But now you get bonus points for taking Uber. Ad they already increased the points for air travel to 5 per $1.

    Still, not sure how raising the annual fee helps them vis-a-vis the CSR card.

  4. #3
    Registered User New Member
    Posts
    9
    I don't think the fee is going up to $550 until then of March. But they are adding to the perks, including a new perk of $200 worth of Uber rides per year. So it may still be a good deal.

  5. #4
    Registered User Enthusiast
    Posts
    76
    We're talking just about the Platinum card, right?

  6. #5
    Registered User Junior Member
    Posts
    36
    Yes. Sorry. I was asking about the Platinum Card. That seems the only card Amex is raising the annual fee on. At least imminently.

  7. #6
    Registered User Junior Member
    Posts
    49
    Oh good. I was worried that the Gold card was going to see a price increase. Just platinum. Phew.

  8. #7
    Registered User New Member
    Posts
    13
    I saw this bit of research from Barclays ... based on spending patterns of avg American earning at least $150,000 per year, the new and improved Platinum card will have rewards worth 1.48%. For a $550 fee, that is not so hot. Even if it is better than the current return of 1.22%.

    Compare that to the Citi Prestige, which he estimated the reward rate to be 1.78%. Which is better. But why not just get the no fee Double Cash card?

    But then the Sapphire Reserve is estimated to have a rewards rate of 2.06%.

    Now we are talking.

    But pull out more stops, Amex.

  9. #8
    Registered User Semi Pro Member
    Posts
    302
    Interesting info about the return from your rewards points.

    But let's not forget the long list of perks offered by the Platinum card, from companion tickets to hotel stays. And on and on. If you take those into account, you are definitely getting your moneys worth. And probably coming out ahead of the CSR and Prestige cards.

  10. #9
    Registered User New Member
    Posts
    13
    To follow up some more:

    The rewards points with the Platinum card are not the best. But the hotel and travel perks are the best, and more than pay for the annual fee.

    The real downside is that it is a charge card. You need to pay the balance in full each month.

    And this is where Chase wins with the CSR card. It gets the big spenders who want to carry a balance. And there are plenty of them. Those interest charges pad the bottom line nicely.

    I wonder if we will see Amex ease up and offer a credit version of the Platinum card. Which may be a way for them to improve revenue, especially in a post-Costco card world.

  11. #10
    Registered User New Member
    Posts
    6
    Amex still is dominant for business users. And those business users like to roll those rewards into their personal travel. So I think Amex will always have a place for the high end users.

    Plus, as stated above, the perks besides rewards points are the real value with the Platinum card. So really what is the difference in rewards values worth fractions of a cent per transaction in that context?

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