Amex Centurion

[diatessaron]

Greetings,

Does any of you dear readers hold the black card? If yes, how would you rate the concierge service? Is it as good as they say? Would you vouch for it? Will they fly to Antarctica and collect ice for you if you ask them to? Due to recent events I will have to fly to Switzerland to open a bank account in my own name. I've been in contact with a law office which was suggested by a good friend of mine and they claim to be able to get me one within a month from when I open the account.

I am not a big spender but I travel a lot and I do not have a secretary(?) that plans these for me, I've always been doing it myself and sometimes, because of how I am, it takes me hours to book hotels or even get plane tickets, I keep scrolling through websites endlessly and in most cases I end up planning the shittiest and most expensive trips ever which is very stressful. I've heard their concierge service is the best in town and they're very very helpful + they organize everything for you.

As for my spending habits, I might not spend a lot but there have been multiple cases where I've been over my card limit while abroad and because I hold less than 100 euro in my wallet I've had to play it cool many times.

The limit is interesting.
The rewards are interesting.
The access they offer is interesting.

Would you suggest it to a non classy guy who hasn't put a suit on his entire life?

 

[aage]

People won't tell you if they did

 

[BlueMist]

I am not sure if there is much difference between Centurion and Platinum Charge. I have the Plat Charge metal card in UAE (it's their highest tier card). Despite highest tier, it earns 1 MR for 1 USD, while the Plat credit card (1 tier lower) gets 2 MR for 1 USD. I understand one is charge card and another credit card but the Plat charge benefits are confusing to me, especially when it comes to "No Pre-Set Spending Limit". It doesn't obviously mean unlimited limit, so before going to Maldives I called Amex to avoid any surprises and they told me my "no pre set spending limit" is $25,000, so if I want to spend $50,000 I have to top up the card via bank transfer... At least I could get MR points for the topped up amount too, where most credit cards only allow you to earn points up to the limit given.

If you apply for the card in CH it will be in CHF currency, meaning all spending outside CHF will incur 3% Amex FX fees. As for the concierge it is good and answer fast. I wanted to get offers on Euro 2020 semi-finals and finals in London and got them within 24 hours. I wanted to reserve xmas brunch in Dubai and they called the hotels to come back with the offers. Amex FHR is also good, if you book hotels through them with FHR benefits, you get usually e.g. $100 hotel credit, room upgrade (including suites), 4pm late check out, free fast internet etc.

There are some issues too. For example all flight bookings they quote in AED (regardless of country of departure), although I have USD card... That means automatic 3% FX. They seem to offer 10% on Emirates flights, so I wanted to take advantage and they said on this route they don't have discount, although it is not written anywhere in the T&C that there are any exclusions of getting this benefit.

All in all I have good experience with Amex. Whether the card is worth $850 per annum or not, it is hard to say. One benefit that I use is that I usually rent car abroad for 2 summer months when I espace Dubai heat. The premium cars have usually excess of €1500-€2000 per damage or theft unless you buy extra insurance which sometimes can cost e.g. €20 per day. So yes it works for me in this case. I have used it already and got the money back by the way. Also the big plus of Amex Plat charge (vs. Amex Plat credit card in UAE) is that you don't have to actually use the card to have the benefits covered. E.g. you don't have to book the flights using this card to get the Travel insurance "kick in" it works even if you use different card. Same with car rental benefits, you can use other than Amex card but still utilize Amex benefits if something happens.

Another benefit of using the concierge is that they can charge the flights to your card without you having to give Amex card numbers to anyone over the phone or in the internet.

 

[diatessaron]

Thank you for the detailed reply @BlueMist, I appreciate it. I don't have any information on their fees other than their yearly fixed cost but if there's a 3% fee only that's interesting to me. I am sure I spend more than that on badly priced bookings and such. I'm also sure that 3% will actually save me a lot of money.

What I was more interested in is the services their concierge office offers, seems like they can save me from a lot of stress and make my life easier. I wonder, if I have EUR in my bank account, will it be converted to CHF and then EUR whenever I use the card or is it directly EUR to EUR.

I'll write a list of questions and send them to the lawyer. Will update if anyone is interested.

 

[JohnnyDoe]

Centurion doesn’t offer anything so special. Their customer service might be better than other cards, but don’t expect extraordinary things that you can’t obtain by yourself and at cheaper price.
You might like the complimentary Centurion magazine and the random amenity that they send to your home or in the hotel room.
Ah you also get guaranteed late check out in some hotels like 4 Seasons, but probably if you book a nice room and politely ask the hotel to keep it until 5pm they will allow it anyway without the black card.
It was better a few years ago when you got top tier membership in several hotel programs. For example you could book a standard room at Kempinski and be upgraded to a corner suite.
It was the first metal card on the market, now every bank or emi offers one. The latest redesign is quite cool though.
One more thing, it is not really “limitless”. If your usual spend is say 50k per month and one day you want to buy a 100k car with it they won’t allow that, you first need to send them the money and inform why.
Poor Shaq O’Neal had his card frozen because he went into a night spending spree in a Walmart

 

[Forester]

I am not sure if there is much difference between Centurion and Platinum Charge. I have the Plat Charge metal card in UAE (it's their highest tier card). Despite highest tier, it earns 1 MR for 1 USD, while the Plat credit card (1 tier lower) gets 2 MR for 1 USD. I understand one is charge card and another credit card

I consider this to be the difference...

If you apply for the card in CH it will be in CHF currency, meaning all spending outside CHF will incur 3% Amex FX fees.

Are you sure? I know well that it is no problem to obtain a high-tier card in Switzerland in USD – but I admit, I have no personal experience with AMEX high-tier card.

Centurion doesn’t offer anything so special. Their customer service might be better than other cards, but don’t expect extraordinary things that you can’t obtain by yourself and at cheaper price.

Well, another opinion that I heard about AMEX concierge differs. But it definitely depends on that what you are able to manage by yourself

This review Is the Amex Centurion (black) card still worth it? - The Points Guy
makes sense to me, IMO worth reading.

 

[khinkali]

It works if you like to go to the "hip" places in cities around the world. The black card concierge knows you and knows who to talk to at the coolest Las Vegas nightclubs. Their credibility gets you "that table" (and you skip the line of course) as if you were a big spending regular.

Is it still $20k for the first year? You really need to enjoy that lifestyle to get value.

 

[JohnnyDoe]

Well, another opinion that I heard about AMEX concierge differs. But it definitely depends on that what you are able to manage by yourself

Probably it is good if you are a teenage crypto millionaire who still need to learn how to live
There are things that you can obtain only with a smile… or a Benjamin

This review Is the Amex Centurion (black) card still worth it? - The Points Guy
makes sense to me, IMO worth reading.

When you have a Centurion card do you really bother about your lost headphones?

It works if you like to go to the "hip" places in cities around the world. The black card concierge knows you and knows who to talk to at the coolest Las Vegas nightclubs. Their credibility gets you "that table" (and you skip the line of course) as if you were a big spending regular.

never tried that. Not sure if this perk is worth the fee though.

 

[Forester]

When you have a Centurion card do you really bother about your lost headphones?

What about if your headphones are decorated with gold and brilliants...

 

[JohnnyDoe]

What about if your headphones are decorated with gold and brilliants...

I suspect you will never find them again and you deserve it

 

[BlueMist]

What I was more interested in is the services their concierge office offers, seems like they can save me from a lot of stress and make my life easier. I wonder, if I have EUR in my bank account, will it be converted to CHF and then EUR whenever I use the card or is it directly EUR to EUR.

Amex card has a separate spending account, if it is in CHF you will have to convert EUR to CHF to pay it off. In UAE you can choose for some Amex cards if you want AED or USD card. USD has to be paid off to their US bank account.

Ah you also get guaranteed late check out in some hotels like 4 Seasons, but probably if you book a nice room and politely ask the hotel to keep it until 5pm they will allow it anyway without the black card.

Those benefits are on the Platinum Amex as well, which is much cheaper than Centurion.

Are you sure? I know well that it is no problem to obtain a high-tier card in Switzerland in USD – but I admit, I have no personal experience with AMEX high-tier card.

Perhaps the bank tied Amex cards do offer different currencies but directly from Amex CH I have not seen EUR or USD:
https://www.americanexpress.ch/en

Is it still $20k for the first year? You really need to enjoy that lifestyle to get value.

I don't think so. In UAE I think it is $4000 per year and you don't need invitation anymore if you are willing to pay "invite fee" of the same as annual value.

Centurion doesn’t offer anything so special. Their customer service might be better than other cards, but don’t expect extraordinary things that you can’t obtain by yourself and at cheaper price.

I don't really think those aspiring and willing to pay Centurion annual fees are looking to save anything or booking something at cheaper price. They are happy having personal "concierge" who will handle their request and they don't mind paying for it whether in annual charges or in 3% FX fees.

Also before Amex and especially Centurion metal cards had some prestige. You were pulling it in front of the crowd to stand out and to make you feel special. Now with Apple Pay the cards stays in the drawer, so who cares if it is metal or plastic, Centurion or not. However as I said, FHR benefits are nice. It is nice to show up in the hotel having a personal welcome envelope stating your Amex FHR benefits to which I forgot to mention before also includes a free breakfast.

Another thing is acceptance which in UAE is not great. Went to Starbucks today after Emaar sales office in downtown Dubai and Apple Pay did not work because of Amex, so had to use a different card.

 

[diatessaron]

Centurion doesn’t offer anything so special. Their customer service might be better than other cards, but don’t expect extraordinary things that you can’t obtain by yourself and at cheaper price.
You might like the complimentary Centurion magazine and the random amenity that they send to your home or in the hotel room.
Ah you also get guaranteed late check out in some hotels like 4 Seasons, but probably if you book a nice room and politely ask the hotel to keep it until 5pm they will allow it anyway without the black card.
It was better a few years ago when you got top tier membership in several hotel programs. For example you could book a standard room at Kempinski and be upgraded to a corner suite.
It was the first metal card on the market, now every bank or emi offers one. The latest redesign is quite cool though.

One more thing, it is not really “limitless”. If your usual spend is say 50k per month and one day you want to buy a 100k car with it they won’t allow that, you first need to send them the money and inform why.
Poor Shaq O’Neal had his card frozen because he went into a night spending spree in a Walmart

A magazine, random plastic and an extension to my staying. That hurts . However, if their concierge is good it is definitely worth it. Thinking about it, I would have to pay someone else a lot more to play the concierge for me than the people at Centurion but that higher payment also buys anonymity, I don't have to have a random dude I've never shared food with on the other side of the phone know where I'm at all the time.

Googled that Shaq part , I still don't understand why he needs so many TVs and printers. Thanks for the laughs Johnny .

It works if you like to go to the "hip" places in cities around the world. The black card concierge knows you and knows who to talk to at the coolest Las Vegas nightclubs. Their credibility gets you "that table" (and you skip the line of course) as if you were a big spending regular.

Is it still $20k for the first year? You really need to enjoy that lifestyle to get value.

Definitely not my type of lifestyle but even if it was I got some friends who can get "the table" for me all over the continent. Was told 15k for the first year and then lower for what follows. Thank you for the info Khinkali. I appreciate it .

Amex card has a separate spending account, if it is in CHF you will have to convert EUR to CHF to pay it off. In UAE you can choose for some Amex cards if you want AED or USD card. USD has to be paid off to their US bank account.

I see. Thank you very much for all the info, it defnitely helps put things on a scale and see if it's worth it or not.

 

[JohnnyDoe]

A magazine, random plastic and an extension to my staying. That hurts . However, if their concierge is good it is definitely worth it. Thinking about it, I would have to pay someone else a lot more to play the concierge for me than the people at Centurion but that higher payment also buys anonymity, I don't have to have a random dude I've never shared food with on the other side of the phone know where I'm at all the time.

the “concierge” is just a random guy you call (after some time waiting on the line) or email to book flights/hotels. Quite often you don’t find your supposedly “personal” concierge and you end up talking with another person, which is fine as there is nothing really personal in the service. Any question you ask he googles it.
It’s highly unlikely that an Amex employee who sits at customer service knows more than the Centurion cardholder who is supposed to be serviced.
The monthly salary of an experienced butler/PA/valet is $5-7k, so don’t be cheap and hire one if you really need this kind of service. Don’t expect to receive it from Amex for that money per year.

 

[rowena]

https://www.reddit.com/r/fatFIRE/comments/rqglo2

 

[JohnnyDoe]

https://www.reddit.com/r/fatFIRE/comments/rqglo2

You have a Centurion and fly commercial?

 

[rowena]

You have a Centurion and fly commercial?

Yes, the Centurion card is not a big deal. If you spend $40-$50K per month via card and have several million in your bank account, then you can get the card. It can be even easier depending on your country and relationship with the issuer bank. IMO, the private plane thing starts from at least $30M net worth which is another level.

 

[JohnnyDoe]

Yes, the Centurion card is not a big deal. If you spend $40-$50K per month via card and have several million in your bank account, then you can get the card. It can be even easier depending on your country and relationship with the issuer bank. IMO, the private plane thing starts from at least $30M net worth which is another level.

I guess it depends on how much you value your own time. Private flights start at $3k per hour and can save you several hours compared to commercial flights.
Why should you have millions on your bank account if you don’t even fly private?

 

[rowena]

I guess it depends on how much you value your own time. Private flights start at $3k per hour and can save you several hours compared to commercial flights.
Why should you have millions on your bank account if you don’t even fly private?

The cost depends on distance and destination because you have to upgrade to a bigger jet if the distance is not short. You can only rent a small light jet for $3K per hour and it is only the operating cost. If you want to fly from London to New York, 2 way flight will easily cost you $100K and it is no brainer if you only make $200-300K per month. Check the link below for more real-life examples from HNWI people.

https://www.reddit.com/r/fatFIRE/comments/rgipgt

 

[JohnnyDoe]

The cost depends on distance and destination because you have to upgrade to a bigger jet if the distance is not short. You can only rent a small light jet for $3K per hour and it is only the operating cost. If you want to fly from London to New York, 2 way flight will easily cost you $100K and it is no brainer if you only make $200-300K per month. Check the link below for more real-life examples from HNWI people.

https://www.reddit.com/r/fatFIRE/comments/rgipgt

LOL a Reddit to discuss when to fly private Is there a Reddit also for choosing the length of your yacht based on bank statement?
You spend money on whatever you want when you have enough of it, that’s the only sensible answer.

 

[rowena]

LOL a Reddit to discuss when to fly private

Yes, like you discuss flying private in an anonymous online forum.