Amex Black vs. Platinum

Well first you can not just upgrade. AMEX will invite you to become a black card memeber.

The perks are better from what I understand. And you really do have NO limit on the card.
Platinum as much as they say has no limit will stop at a certain
number figure.
Black will just keep going.

 

AMEX Black Centurion education here:

http://ferrarichat.com/forum/showthread.php?t=69321

http://ferrarichat.com/forum/showthread.php?t=67506

 

Black is $2500 per year and per card. There is a spending limit per year, cant recall what it was exactly, something like 100K per year. Thats not income, thats actual spending on the card. Gets you a personal conceirege 24x7 -- if you need that, its great, but if you don't use it then perhaps not a good value vs. platnium.

 

You don't actually have to be invited, you can just call and apply. Other than the membership fee the only thing you have to do to qualify is have spent $150k with Amex over the last 12 months. After you have the card you can spend what you want, there is no minimum.

 

Well, you need good credit too. A buddie of mine who made a bundle in the net boom simply cant get one. He has like a reposesion and something else on his record so they want give him one even though his spendingon the Plat is more than twice mine on the Black. Maybe once they fall off his CR but for now he is screwed.

Also you cant apply but once every year. (I did not even know that till he told me.)

 

Platinum can't be that special, my wife was invited a few weeks ago.

 

They are much easier on people in Australia. I think they like the way you all talk.

 

Platinum is easy to get. Did you mean Black?

 

Jumping in a little late here but my two cents for personal use is that the Amex Black card concierge service is worth the fee hands down. I cannot tell you how many times a week it gets used… I have called to get restaurant reservations at places I was told were impossible to get into (which when entertaining clients does mean something), they found a cleaning company when we first moved into our new house the day before my wife came home with our first baby) , even a in-room haircut in Miami one time at 11 pm on a Saturday night (we just landed and checked in). Could I do it on my own? of course… but in business your time is worth money. And it’s paid for the $2500 fee over many times. I like to try and stump them, but so far they have always come though. But that alone is not worth the fee… so…

…we exclusively use the travel concierge service when traveling. Automatic upgrades at hotels (if available; never been denied), 2 for 1 airfare… went to the UK and a 1st class ticket on Virgin was $10k… the other was free. So there is four years of the fee. This happens all he time when we fly... which for me is weekly.

Status symbol? Ha… no one even knows what it is when I use it.

 

Billy-
I am not sure about it being worth it. IT works great n the east coast but in LA area not so special

 

in the USA its not $150k anymore, its $250 spent and PAID within 12 months. And you need to be invited. You cant apply for it.

 

I was going to add the business uses and hit the ‘enter’ button instead… tried to edit and almost screwed the whole thing up.

Get the status thing out of the way for a minute. I have never flashed it and gotten a double-take or instant respect… ever. A few inquires but my wife’s boob job gets more attention when we are out.

I have a Business Black card which has a much, much higher yearly spending requirement… so we use it to our advantage. For example, my company www.48hourprint.com uses UPS exclusively for shipping. And printed material is heavy.. very heavy. Last year our spending with UPS was something like 2.5 million. And it was all paid for with the black card. Guess what our reward points were just from UPS spending? Massive… and that can be redeemed for cash, equipment, and travel, most anything. On top of it, UPS was getting soaked by Amex for a 2.5% merchant fee which is over $60,000 a year. So they came back to us with a lower rate and tried to get us to not pay by credit card. But… since we can pay the monthly bill and then get another 30 days to pay Amex we have extended out terms to 60 days. Improving cash flow and keeping money in our account. Status symbol or good business?

And that was just UPS. I would have to check with our VP of Finance but I *think* total spending was close to 4 million on this card alone. We do this with several other cards when we can... some vendors say no way.

billy

 

Maybe I should buy business cards from you!!!!!

 

This must have changed over the last 12 months? I called and applied and received the card about a year ago. They also had told me the number was 150k. Must be inflation. LOL

 

I applied and they sent me the AMEX brown card with a message..... "you cant charge ****".

 

IMHO, the black card makes sense for small business owners that do a lot of turnover, travel, and entertaining.

For us corporate travel types that have an office of eight Amex employees in house, the card doesn't make much sense, but platinum does.

 

Thats funny!

 

Obviously they did not read the newspaper in Daytona this week!!!

 

Ok, whats the big deal with having ANYTHING american express? How is it better than a platinum visa/mastercard/etc?! Just trying to educate myself here, as our business has a corporate MC.

With the AE card, balance is due monthly, no? How is that a perk - I would think its a huge negative....

Educate me please!

 

There is 24/7 concierge service with AmEx Platinum too, not just with the Black.

If you're thinking of a card for small business use, this site may help:

http://www.smallbusiness-creditcard.com/Platinum_Credit_Cards.htm?hitstatz=ovr_platinum

I too haven't found that any brand/color of card gets you more status or better treatment. People are always happy to take your money no matter how you decorate it.

 

Interesting, I've spent about $180k on all my AMEXs this year, wonder if it has to be on a charge card alone or not?

 

Billy: I do the same, though not on your level. Adding 30days to Net30billing alone is enough to make business sing.

 

Has to be the charg card but I am not sure. I know you have to have PAID over $150k though.

 

It can be all your Amex's combined over the last 12 months.