Reality of American Express Centurion (a.k.a Amex Black Card)

[1RC]

I need not write much about the OG author's experience with Amex Centurion

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https://www.linkedin.com/embed/feed/update/urn:li:share:7078669851082244096

 

[1RC]

I disagree with you on the 3.5%. But that's not the issue. Amex clearly mentions this markup and this is a markup that this guy would have been paying for ages. Just because he "feels" he's now entitled pay a lesser markup is no reason for Amex to refund his 11L fees.

Also, you're missing the point. If this was a complaint that Amex Centurian is dog$hit... then that's fine - he's entitled to his opinion. But that's not what this is. This guy is demanding fees back because he had higher expectations, and because Amex did not meet the expectations he had set in his mind Amex should refund his fees. This meritless complaining to RBI and Consumer Affairs is idiotic and childish.

Just because Amex did not meet his grandiose expectations doesn't entitle him to a refund. Which is all that the purpose of his post is. The points he has raised are idiotic/cheap/dumb/stupid or a combination thereof. None of this is grounds for getting a refund which is all that he wants.

He realized he got in too deep and after the initial euphoria he's thinking "what the f did I just do... I can't spend 11L on card fees... I need to get my money back somehow". There is just no justification to refund his fees just because he's disappointed. He's just bringing public ridicule on himself.

Wait I think I've been miss understood. I am not advocating he should get back his 11L. Thats not what I am saying. I am simply saying if Amex is doing what he says they are. Then Amex needs to do more at least for the Centurion folks.

I hope this clears things out.

 

[imdjay]

When you pay for something premium and you were promised a level of satisfaction.
If they fail or even if you feel it's not up to the mark, you have the right to ask for a refund.

It's a super duper premium category, Not some average one. Each and every complaint should be taken care personally and compensated for every trouble.

CUSTOMER IS KING.

 

[ARV]

After owning 4 AMEX cards including Plat charge, i personality feel AMEX is over hyped. Apart from sweet talking customer care, they don't resolve issues. I haven't received bonus points for the 23x program they ran in Jan23 yes Jan23 (5 months old). Apart from raising complaints from past 2 months they have not resolved the issue. Also the travel concierge is equally bad. I asked for a quote for travel and they never sent it. I had to call the 2nd time.

 

[PiperatGatesofDawn]

Wait I think I've been miss understood. I am not advocating he should get back his 11L. Thats not what I am saying. I am simply saying if Amex is doing what he says they are. Then Amex needs to do more at least for the Centurion folks.

I hope this clears things out.

Heh... they've figured out they have 11L bakras out there. What is their incentive to lower that rate? And Amex charges that markup across all their cards I think.

 

[Wealth is my birth right!]

After owning 4 AMEX cards including Plat charge, i personality feel AMEX is over hyped. Apart from sweet talking customer care, they don't resolve issues. I haven't received bonus points for the 23x program they ran in Jan23 yes Jan23 (5 months old). Apart from raising complaints from past 2 months they have not resolved the issue. Also the travel concierge is equally bad. I asked for a quote for travel and they never sent it. I had to call the 2nd time.

5 months is just a number
For one of my Diwali spending based multiple X points in an October I got points in next June at 8th month
I called to complaint but cc showed link to t&c which shows 180 working days which easily crosses 7+ months
So my 2 cents guys if u have plans to close an Amex card in next 2 to 6 months don’t participate in any of that card offers u may lose points when closing card

 

[ARV]

5 months is just a number
For one of my Diwali spending based multiple X points in an October I got points in next June at 8th month
I called to complaint but cc showed link to t&c which shows 180 working days which easily crosses 7+ months
So my 2 cents guys if u have plans to close an Amex card in next 2 to 6 months don’t participate in any of that card offers u may lose points when closing card

T&C Says 120 days. It's been 160 days. Otherwise they would have not raised the complaint.

 

[QUIKSILVER27]

Wow, and here I'm thinking that just the 11 lakh fee will get the card reported to Income Tax SFT without even spending any money
i guess people capable of paying this will have an entire accounts team managing their stuff🤑!

 

[amitr29]

I beleive Centurian is for people who have absolutely free money. Just like actors,who get 2 crs for an appearance at a wedding. They want something different from what usual people have and hence Centurian can charge 11 lacs fees. Those who crib about 3.50% fx mark up, definitely not the right card for them.

This is all due to marketing and Fomo. He is with Amex since 95 and they realised that. Thanks to marketing, he was made to feel that without Centurian he is a loser. He immediately jumped on to the first opportunity he got to get the card and blindly paid without knowing the benefits. He realised much later that card has no benefits for him otherwise Amex concierge is world renowned. Or he is trying for a LTF 😂 by posting on a platform ( Pun Intended)

I hope, he gets his money back and he takes more prudent decision than falling for a marketing gimmick.

 

[rogerthat]

I beleive Centurian is for people who have absolutely free money. Just like actors,who get 2 crs for an appearance at a wedding. They want something different from what usual people have and hence Centurian can charge 11 lacs fees. Those who crib about 3.50% fx mark up, definitely not the right card for them.

This is all due to marketing and Fomo. He is with Amex since 95 and they realised that. Thanks to marketing, he was made to feel that without Centurian he is a loser. He immediately jumped on to the first opportunity he got to get the card and blindly paid without knowing the benefits. He realised much later that card has no benefits for him otherwise Amex concierge is world renowned. Or he is trying for a LTF 😂 by posting on a platform ( Pun Intended)

I hope, he gets his money back and he takes more prudent decision than falling for a marketing gimmick.

Exactly. The Centurion is a card for those people who see money to be something like water. They have it in such abundance that it loses all meaning to them in the way how we see it. They rather see money as a medium that they can use to refresh themselves, especially because they have it in unlimited supply. It is for those multi-gazillionaires like ruthless tycoons, oligarchs, sports or entertainment megastars, tech and Fortune CEOs and board members, oil-sheikhs, old European money, and so on. The elite of the elite whose net worth must start at at least a billion, USD.

The Centurion card is not for those who want to collect MR points and redeem them for air tickets, even First Class. It is for those who would feel like buying the entire plane using it. It is for those who happen to spot an art piece costing $10 million up for sale at a gallery and order their concierge to "put it on the card". It is for those who would want freshly squeezed orange juice from Marrakech delivered to wherever they happen to be every morning. It is for those who would want to place a recurring charge to maintain their fleet of supercars at Maranello or their teams of race horses in Kentucky, or to pay docking fees for their yachts in Monaco. It is for those who are so rich that it is ridiculous and a crime.

The Centurion is not designed for even your regular $ multi-millionaire and certainly not for those who are hands on running businesses or worrying about their paychecks, just like an Infinia is not designed for a call center fresher, and just like how the Platinum card is not designed for me, I am very well contented with the Gold. It is designed for those who simply wouldn't even want to waste their precious brain time bothering about the 3.5%, they probably earn that amount back ten times in the few seconds they spend to think about it. And as for lounge access, the typical Centurion probably flies private.

And well, Amex realises how well (or not) they can earn from each customer and probably serves them accordingly. They shouldn't, but as they say, that's just business.

 

[Tensor]

LOL Centurion holder crying about 3.5% foreign txn markup. This is like buying a Lamborghini and complaining about the mileage

Naah.. About fuel prices 😂

 

[PiperatGatesofDawn]

It's a shame he isn't on TF or Arindam's Telegram channel - otherwise he could have added another point in his gripe list.

 

[1RC]

It's a shame he isn't on TF or Arindam's Telegram channel - otherwise he could have added another point in his gripe list.

Maybe I should send him an invite via linkedin.

 

[1RC]

Exactly. The Centurion is basically a card for those people who see money like something like water, that they have in such abundance that it loses all meaning to them in the way we see it. They rather see it as a medium that they can use to refresh themselves, especially since they have it in unlimited supply. It is for those multi-gazillionaires like ruthless tycoons, oligarchs, sports or entertainment megastars, tech and Fortune CEOs and board members, oil-sheikhs, old European money, and so on. The elite of the elite whose net worth must start at at least a billion, USD.

The Centurion card is not for those who want to collect MR points and redeem them for air tickets, even First Class. It is for those who would feel like buying the entire plane using it. It is for those who happen to spot an art piece costing $10 million up for sale at a gallery and order their concierge to "put it on the card". It is for those who would want freshly squeezed orange juice from Marrakech delivered to wherever they happen to be every morning. It is for those who would want to place a recurring charge to maintain their fleet of supercars at Maranello or their teams of race horses in Kentucky, or to pay docking fees for their yachts in Monaco. It is for those who are so rich that it is ridiculous and a crime.

The Centurion is not designed for even your regular $ multi-millionaire and certainly not for those who are hands on running businesses or worrying about their paychecks, just like an Infinia is not designed for a call center fresher, and just like how the Platinum card is not designed for me, I am very well contented with the Gold. It is designed for those who simply wouldn't even want to waste their precious brain time bothering about the 3.5%, they probably earn that amount back ten times in the few seconds they spend to think about it. And as for lounge access, the typical Centurion probably flies private.

And well, Amex realises how well (or not) they can earn from each customer and probably serves them accordingly. They shouldn't, but as they say, that's just business.

I agree to everything you say but I am still not cool with emailing Amex for things I want. If i paid 11L, want a dedicated guy over the phone to take care of my requests.

Amex should hire undergrads from decent schools, pay them 10L + 1L bonus (which is still better than what mass hoarders like TCS/INFY pay to freshers), up skill them and make them sit next to a phone to cater Centurion customers.

 

[CCUser_1999]

I agree to everything you say but I am still not cool with emailing Amex for things I want. If i paid 11L, want a dedicated guy over the phone to take care of my requests.

Amex should hire undergrads from decent schools, pay them 10L + 1L bonus (which is still better than what mass hoarders like TCS/INFY pay to freshers), up skill them and make them sit next to a phone to cater Centurion customers.

Amex also needs to earn...

 

[1RC]

Amex also needs to earn...

Bro Banks and CC Companies don't earn bread and butter from our annual charges. They earn money from interests, and majorly interchange fees/transaction fees. Plus, they also charge companies like kiehl's, Forest Essentials (rant on this coming soon) to promote their brands with reward multipliers.

 

[sxchzy]

a

Bro Banks and CC Companies don't earn bread and butter from our annual charges. They earn money from interests, and majorly interchange fees/transaction fees. Plus, they also charge companies like kiehl's, Forest Essentials (rant on this coming soon) to promote their brands with reward multipliers.

mex erans heavily through fees of plat charge and centurion

 

[1RC]

a

mex erans heavily through fees of plat charge and centurion

sure.

 

[CCUser_1999]

Bro Banks and CC Companies don't earn bread and butter from our annual charges. They earn money from interests, and majorly interchange fees/transaction fees. Plus, they also charge companies like kiehl's, Forest Essentials (rant on this coming soon) to promote their brands with reward multipliers.

Yes sir that is one of the major revenue stream for basic card but for premium cards esp like Platinum, Centurion, Axis reserve etc this is also a major source of income.
Anyway its bank's responsibility to give flawless service to such cards. I don't agree the rant on many points in the first post (like 3.5% surcharge, Airline fee etc) but am 100% with the observations on service gap. I am nowhere near Centurion eligibility but got Platinum to try service. I was utterly disappointed by the quality of service. Its bank's responsibility to ensure this and cost is their concern. If they feel they can't provide the service at 11 lakhs, they shall either increase price or reduce expectations.

 

[1RC]

Amex earns crazy. Amex blows money like a sheikh when hiring from Top B schools. Though paying 11L to for call center like work still seems an overkill.

I did ask from their director during an interview about how Amex manages its centurion customers. They told me they always aim to digitise most of the aspects.

Not true. Amex is no way close when it comes to paying top moolah. Never seen Amex on Day 0 or 1 at ABC and ISB.

Amex blows money like a sheikh when hiring from Top B schools.

Those kids aren't just going to do call center shit. Amex's customer service folks are already well spoken. But these Amex Back grad kids to a notch above, well groomed and reflect the "do anything concierge service", implying they should be aware of anything and everything thats hyped up for which customer may call. Now coming to 11L, I honestly think, any decent indian undergrad should make atleast 10-12L as bare minimum.

Again i am biased and pissed of as to how Govt. of India, taxes the salaried class, this is the bare minimum freshers should make.

Though paying 11L to for call center like work still seems an overkill.

 

[Walter White]

Not true. Amex is no way close when it comes to paying top moolah. Never seen Amex on Day 0 or 1 at ABC and ISB.


Those kids aren't just going to do call center shit. Amex's customer service folks are already well spoken. But these Amex Back grad kids to a notch above, well groomed and reflect the "do anything concierge service", implying they should be aware of anything and everything thats hyped up for which customer may call. Now coming to 11L, I honestly think, any decent indian undergrad should make atleast 10-12L as bare minimum.

Again i am biased and pissed of as to how Govt. of India, taxes the salaried class, this is the bare minimum freshers should make.

Not from IIM ABC/ISB but from other T10 institute, so there will be a difference.

Let's all move to Dubai and live a tax free life. 😛