Why the Wealthy Prefer American Express

Why Do the Rich Love Amex? Unveiling the Appeal of American Express

Ever noticed how the affluent seem to favor American Express cards? In this video, Simon delves into the world of Amex, exploring the unique benefits and experiences that cater to high-net-worth individuals.

Here are a few of the reasons why I love Amex:
1. Exclusive luxury benefits: Get insights into coveted experiences like Grammy invitations and Centurion Living events, offering access to exclusive dining, entertainment, and travel opportunities.

2. Elevated travel experiences: Explore priority boarding, airport lounge access, travel insurance, and premium travel credits, making every journey more convenient and luxurious.

3. Enhanced lifestyle: Uncover subscription benefits for curated experiences, extended warranties for valuable purchases, and reward programs tailored to sophisticated tastes.

4. 24/7 concierge service: Gain access to unparalleled assistance and personalized support, helping you navigate any situation with ease.

5. Prestige and status: Discuss the symbolism associated with owning an Amex card, particularly the coveted Centurion® Card, and how it signifies exclusivity and success.

Whether you're curious about the value proposition of Amex or simply want to understand the choices of the affluent, this video provides informative insights and raises crucial questions.

Click here to watch the full video and dive deeper!

COMMENT BELOW AND SHARE YOUR THOUGHTS - ALL OPINIONS WELCOME!
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*Disclaimer: Some of the links and other products that appear in this video are from companies from which Ideal Visibility Inc / Ideal Media Inc will earn an affiliate commission or referral bonus. Ideal Visibility Inc / Ideal Media Inc is part of an affiliate network and receives compensation for sending traffic to partner sites. As an Amazon Associate, I earn from qualifying purchases. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. The message in this video is to be taken for entertainment purposes ONLY. If you need advice, please contact qualified and licensed professionals, including Certified Public Accountants, attorneys, insurance agents, real estate agents, financial advisors, or appropriate licensed professionals for the subject you would like help with. These videos are strictly for entertainment purposes. Neither Simon Katz nor Ideal Visibility Inc / Ideal Media Inc are qualified or licensed in any profession and the content should NOT be taken as advice on investments, personal or business choices or decisions. This video is made for strictly entertainment purposes.

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[wegian]

Dude, love your videos, but I do think your are wrong here. I just cancelled my plat card due to the fact tha amex has become such a coupon card. Wealthy users? Sure you will find them using this card, but amex has downgraded the card by joining forces with Walmart (not exactly premium), and the fact that everyone seems to qualify for the card. Such a shame....

[rayshawnbedell]

For all the people saying that America express approves everyone, well of course they do lol. They pay $695 to get the card to try and get the sign up bonus, most people can’t spend enough to get the sign up bonus, then they can’t use the credit properly and by year two they cancel the card, Amex gets the annual fee and loses nothing. I love my platinum card just got back from a hotel collection hotel in New Orleans where I got $60 for breakfast per day and $100 for experience, and early check in with a room upgrade. Who else is doing that?

[theofficialpeterkim]

AMEX needs to get Costco back. Loved it when they were the primary card.

[nubianpwr]

Amex is my primary go-to ecosystem because it meshes well with my travel preferences. However, I grow weary of the semi-annual, qtrly, mthly, etc, etc, credits and the coupon book model. I value my time & attention too much to go all in on an eco-system like that. Waiting, looking, for a quality and simpler ecosystem that is competitive with Amex... still waiting😎

[curmudgeonextraordinaire]

I have to disagree with you about Amex being very selective about approvals. It may have used to be that way, but there are many datapoints on Reddit from 18 or 19 year olds making less than $50K per year getting approved for the Gold and Platinum.

[happyron]

They have always been great at making the card seem sexy. I can still remember getting my first card in the 1990s and all month I would take it out and quote every five minutes their commercials "That's why I carry.... (dramatic pause) THE AMERICAN EXPRESS CARD".

[ociinos]

The people in the comments complaining about the Platinum perks most likely means the card isn't catered to your lifestyle. And that's okay. IMO Platinum is more than how you recover from the AF from using coupons or the credit score you need to get approved. It is geared towards frequent travelers who fly often and need to have access to lounges and get multipliers on their flights.

Simon's video is about why the wealthy prefer AMEX. Not standard pop. Great video!

[JazzyMarineVet]

I am wondering if they will raise the Plat...AF to @ $850 or more. If so, then I will downgrade. But I have the schwab plat and will be sad not to be able to transfer my MR points to my portfolio @ 1.1cpp.

[FinancialAdvisoryUSA]

How do you justify using the Centurion card for earning points on dining or flights if you can use the Gold card for dining (4x) and the Platinum card for flights (5x)? Besides the add-on perks like Equinox or Saks, I see no incentive to actually use it for purchases.

[gibranespinoza]

Loved 99% of what you said Simon. Only exception I take is the Platinum acceptance rate. There are data points showing people with 590 and low 600 credit scores getting approved for the Platinum. Just seems the requirements for the Platinum card are being willing to pay a $695 annual fee and possessing a pulse. I feel this has hurt the Platinum's exclusivity.

[darryl.spivey]

I clicked on this video so fast. Still very much my goal to have an American Express Centurion card by the end of this year or early next year! Claiming that manifestation.

[Henk-Gina]

Love the perks that comes with the card. That’s why i use the card. But i live in the Netherlands and the perks are different in Europe than they are in the USA. We can’t use the concierge service with the Plat card. (We do get €300, - dining credit at selected restaurants ) So owning the card is mainly because of the hotel and travel perks. Amex is not everywhere accepted in Europe, so the biggest pros are with travel to the US.

[jonathanfactor]

Hi I miss your credit card videos. Did you hear about the fee going up on the united airlines credit card?

[autumn]

I wanted Disney+ and ESPN but didn't want to pay for it since i don't watch much of it, but since I'll get credit for it, I will subscribe, including Walmart. I will start ordering supplements from them and have it delivered for free. But I got the Amex Platinum because there's a Centurion Lounge at my local airport. That was my #1 reason for getting it.

[vuho]

The reason is that AMEX depends on spending for a living. They track what you spend and tailor their advertising. If the customer is a lady who buys a lot of high heels, she will get a ton of ads / offers for every stiletto in the city. Chase doesn't depend on spending and doesn't care. All they see is that you spend $5k a month, and process your payment. The end

[johnlittle]

Unless you spend a lot on airfare, much better to have the blue business card (no annual fee) for 2x on all spending and platinum for the 5x airfare and the benefits.

[jonathanfactor]

Great video thanks. I never had a american express credit card because I use the uper tear airlines cards

[ldstiesto]

Someday I’ll have my own Black Card . In the meantime I ❤ my Amex Platinum

[gphysco]

Question, when I join the military should I go for Amex ?

[thetruth]

I hope they improve the platinum card.