Amex Platinum

Author
Discussion

anonymous-user

53 months

Friday 21st September 2012
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oyster said:
The problem with the insurance is that you have to use Amex to be covered, and if you don't use Amex you need evidence that the supplier doesn't take Amex.

So, recently I looked at purchasing a holiday which priced out at £6k. They took Amex but charged a fee of 4% for doing so and no fee for paying by debit card.
So to be insured for 1 trip by Amex would cost me £240. (well £210 if you deduct the value of the MR points)

Is that worth it?
In many cases, its probably not worth it at that rate. Did you ask the Amex platinum people how much the holiday would cost booked through them?

Also if the alternative is paying by VISA and that has, say, a 2% fee, the cost of the insurance is halved. Still pricey granted

oyster

12,577 posts

247 months

Monday 24th September 2012
quotequote all
swerni said:
oyster said:
The problem with the insurance is that you have to use Amex to be covered, and if you don't use Amex you need evidence that the supplier doesn't take Amex.

So, recently I looked at purchasing a holiday which priced out at £6k. They took Amex but charged a fee of 4% for doing so and no fee for paying by debit card.
So to be insured for 1 trip by Amex would cost me £240. (well £210 if you deduct the value of the MR points)

Is that worth it?
Insured for what exactly?
Insured for the holiday. Travel inconvenience, delay, etc. I know medical is covered without paying by amex but the rest isn't.

oyster

12,577 posts

247 months

Monday 24th September 2012
quotequote all
JPJPJP said:
oyster said:
The problem with the insurance is that you have to use Amex to be covered, and if you don't use Amex you need evidence that the supplier doesn't take Amex.

So, recently I looked at purchasing a holiday which priced out at £6k. They took Amex but charged a fee of 4% for doing so and no fee for paying by debit card.
So to be insured for 1 trip by Amex would cost me £240. (well £210 if you deduct the value of the MR points)

Is that worth it?
In many cases, its probably not worth it at that rate. Did you ask the Amex platinum people how much the holiday would cost booked through them?

Also if the alternative is paying by VISA and that has, say, a 2% fee, the cost of the insurance is halved. Still pricey granted
There'd be no point paying by Visa, when paying by debit card would zero fee.

bad company

18,483 posts

265 months

Monday 24th September 2012
quotequote all
oyster said:
The problem with the insurance is that you have to use Amex to be covered, and if you don't use Amex you need evidence that the supplier doesn't take Amex.

So, recently I looked at purchasing a holiday which priced out at £6k. They took Amex but charged a fee of 4% for doing so and no fee for paying by debit card.
So to be insured for 1 trip by Amex would cost me £240. (well £210 if you deduct the value of the MR points)

Is that worth it?
If you book the holiday thru Amex travel you will not have to pay the %.

bad company

18,483 posts

265 months

Monday 24th September 2012
quotequote all
swerni said:
But he will get charged 4% for using his card ( as stated in his post)
Not so. For example Virgin Atlantic charge a credit card fee if you book direct BUT if you book the same flights thru Amex there is no fee.

oyster

12,577 posts

247 months

Monday 24th September 2012
quotequote all
swerni said:
bad company said:
oyster said:
The problem with the insurance is that you have to use Amex to be covered, and if you don't use Amex you need evidence that the supplier doesn't take Amex.

So, recently I looked at purchasing a holiday which priced out at £6k. They took Amex but charged a fee of 4% for doing so and no fee for paying by debit card.
So to be insured for 1 trip by Amex would cost me £240. (well £210 if you deduct the value of the MR points)

Is that worth it?
If you book the holiday thru Amex travel you will not have to pay the %.
But he will get charged 4% for using his card ( as stated in his post)
I suspect it's unlikely that Amex travel would charge me for using an Amex card to pay (though since BA charge to use a BA Amex it's possible).
More to the point, I shouldn't have to restrict all my travel to booking through Amex.

oyster

12,577 posts

247 months

Monday 24th September 2012
quotequote all
swerni said:
I did think about cancelling mine but I'm travelling most weeks now.
Company pays the flights and I use the Amex card for the hotels.

The medical and repatriation bit is quite good.

I do find it confusing that, in the current market, they are reducing the service and increasing the costs.
Which means your flights aren't covered by Amex insurance.

arun1uk

1,045 posts

197 months

Monday 24th September 2012
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Has anyone actually claimed any rewards through MR? I did look at transferring points to the travel shop, but the exchange rates are dreadful and wouldn't really recommend it.

I'm fortunate to have 100k+ in MR points, and looks like if I redeem for shopping vouchers can get about £500, but does anyone know what the best way to redeem is? i.e. more value by transferring to an airline reward scheme, getting highstreet vouchers/experiences etc?

z4chris99

11,218 posts

178 months

Tuesday 25th September 2012
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I got £250 Harrods voucher with mine...


tigerkoi

2,927 posts

197 months

Tuesday 25th September 2012
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bad company said:
z4chris99 said:
it's 1800 and you have to be "asked"
Our Amex travel advisor mentioned it and said he could organise an invitation. I bauled at the £1800 but wonder what goodies you get for the extra £1350 (difference between Centurion and Platinum cost)?
Correct. Some are invited. Some quiz at an opportune moment and get told more.

My conversation came about when an agent mentioned I'd run Platinum for a dozen years, and I was considered a fairly loyal but consistent spender. There is also the Initiation fee.

The things I miss on Platinum from say seven, eight years back were the free upgrades across the cabin classes on Delta, UA and a few others. That was worth the fee. If you travel frequently then of course all the programmes that link you into Hertz, Hilton, Marriott etc status, that in turn you can link to your Airmile/Avios or whatever programmes, well these just become exponential in accrual. I figured at one point every Amex pound spent was building up to something like 5 AirMiles all in, and keeping me enough for a couple of business class transatlantic tickets every two quarters...

A lot has been lifted out and into the Centurion programme, but all in the one thing that's kept me, is the customer service. You'll get Priority Pass or whatever with a Bank premier card. That, AA membership, is par for the course. The one thing that I do acknowledge is the engaged one-stop-shop on the other end of the line, when once a year, I may just need it.

bad company

18,483 posts

265 months

Saturday 29th September 2012
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Well I have been looking as my Amex renewal is looming but I can't find areal alternative to Platinum.

bad company

18,483 posts

265 months

Sunday 30th September 2012
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The overseas useis a problem. I get around it by booking with the Amex card (so I get the insurance cover) and paying on check out with another card.

bad company

18,483 posts

265 months

Thursday 4th October 2012
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I understand that Amex Centurion is now £2500. Does anybody know if that is an annual or one off fee?

tigerkoi

2,927 posts

197 months

Friday 5th October 2012
quotequote all
bad company said:
I understand that Amex Centurion is now £2500. Does anybody know if that is an annual or one off fee?
There is the 'Initiation Fee', a one off payment at the start of the relationship. It's in the low thousands, £2,500. Then there is the separate annual charge.

bad company

18,483 posts

265 months

Friday 5th October 2012
quotequote all
tigerkoi said:
There is the 'Initiation Fee', a one off payment at the start of the relationship. It's in the low thousands, £2,500. Then there is the separate annual charge.
Does anybody here know what the annual charge is?

tigerkoi

2,927 posts

197 months

Friday 5th October 2012
quotequote all
bad company said:
tigerkoi said:
There is the 'Initiation Fee', a one off payment at the start of the relationship. It's in the low thousands, £2,500. Then there is the separate annual charge.
Does anybody here know what the annual charge is?
£1,800...

Stedman

7,212 posts

191 months

Saturday 6th October 2012
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crmcatee said:
So in the past year or so they've kicked people over 70 out from using their insurance (one of the main reasons I got it for supplementary users) and now the 50% price increase.

Me thinks I'm losing out here - will have to reconsider when it's time for renewal.
Exact reasons my parents have let Platinum too. Were members for over 20 years. I think i'll be getting a Gold Card for myself if they off decent travel insurance.

David Beer

3,982 posts

266 months

Saturday 6th October 2012
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You have to be invited to centurion, then it is 1800 as I have just paid it! Is it worth it ? I have renewed every year.

anonymous-user

53 months

Wednesday 17th October 2012
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I rang to kick up a fuss about the fee increase, muting that on my renewal date (in November), I would be away on my toes because of the fee increase

Lo and behold a £150 credit has been applied to my account

Not to offset the fee of course, but to reward my loyalty...

got to be happy with that

Mermaid

21,492 posts

170 months

Wednesday 17th October 2012
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That's a good result - assumes you spend a fair bit with them.