American Express needs to do something to keep the $5000 annual fee Centurion (“Black Card”) feel worthwhile. In fact, the first year there’s also a $10,000 ‘initiation fee’.
Unboxing The American Express Black Card
The benefits of this card, on top of what Platinum customers receive, are mostly Hertz Platinum, Delta Platinum, and Hilton Diamond, and two annual visits to Private Suite airport terminals. The card no longer receives an annual $200 airline fee credit.
Cardmembers don’t wait in line at airport Centurion lounges and have reserved seating inside. That’s not nothing!
Centurion Seating Area, New York JFK
Centurion Cardmember Dining Room, American Express Centurion Lounge Hong Kong
With the Black Card you’re really paying for prestige and exclusivity. It was cool when Kanye West dropped references to it in 2004. But that was… 2004.
I went to the malls and I balled too hard/ ‘Oh my god is that a black card?’/ I turned around and replied, ‘Why, yes/ But I prefer the term African-American Express’
American Express has added a $1,000 annual Resy credit to the card ($250 per quarter), whereas Platinum cardmembers receive $400 ($100 per quarter). That covers spending at restaurants that are part of the Resy platform.
Technically a restaurant could be found on Resy and not – yet – eligible, which is why they flag eligible restaurants there, but you don’t need to book through Resy, the reservations system American Express acquired, in order to get the credit.
American Express is promoting this new benefit to Centurion cardmembers today. It’s been visible in terms and conditions since April.
It is very striking to me that American Express requires Black Card cardmembers to register for the Resy benefit. Even with their very best customers they’re still managing benefits on a spreadsheet, looking for breakage. That seems not very premium. Even Hyatt auto-registers Globalist members with a concierge for promotions.
Rich people don’t need to impress others. Really rich people have people who take care of paying for stuff, fly private and don’t need priority access to lounges.
The Black card only makes sense for people who feel a need to show off and travel constantly from/to airports with Amex lounges. But even they would be better off taking the money spend on the annual fee and buying themselves a nice meal at the airport instead.
This card screams new money
That covers 1/4 of the AF so that can be seen as an improvement for centurion cardholders.
This card is a joke. Maybe, previously, it was a status symbol, but, now, who cares. Oh, you get a little roped off area at an Amex lounge? Yeah, well, real wealth doesn’t fly commercial, and, if they do, they’ll use PS at airports like LAX, DFW, or ATL, or some equivalent expensive (somewhat unnecessary) VIP service.
@1990 nailed it. AMEX hasn’t figured out the BC has become a parody of what AMEX used to stand for. Now it screams New Money that wants to show off. The BC (and to some extent Platinum) has become déclassé to the point that the truly wealthy will avoid it.
Do you hate waiting in line to enter an AMEX Centurion Lounge? Gary Leff reports, “American Express needs to do something to make the $5,000 annual fee for the Centurion (“Black Card”) feel worthwhile.” I agree. The AMEX guest mindset offers a profit opportunity for the entrepreneurial Black Card member to recoup the $5,000 annual fee. With instant skip-the-line Centurion Lounge access, the AMEX Black Card member can sponsor two guests who are willing to pay $100 for instant entry and do not want to wait more than an hour. Their guests will sit in specially reserved areas of the Centurion Lounge. Accordingly, if the AMEX Black Card holder receives an honorarium of $100 per guest for two guests, they can earn $200 per visit. After sponsoring 50 guests, two at a time, for $100 each, their $5,000 annual fee is reimbursed after 25 visits. AMEX Membership Has Its Privileges. Don’t leave home without it.