ilmscore | It's Over: Why I'm Cancelling My American Express

It's Over: Why I'm Cancelling My American Express

Published: 2022-01-14
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
American Express offered retention deals (e.g., 50,000 points) to customers in good standing who called to cancel their cards during the pandemic to encourage them to stay.
"because so many people were cancelling their american express cards during the pandemic they were doing anything they could to get people to stay and that includes what's called the retention offer"
American Express Platinum Card Retention Offers
Pending
American Express Centurion Lounges will start charging a $50 fee for guests in 2023.
"the points guy blog also mentioned that the amex centaurian lounge will begin charging members a 50 fee for bringing in a guest starting in 2023"
American Express Centurion Lounge Guest Fee
Pending
American Express is focusing its strategy on retaining wealthy customers who spend significantly on travel, dining, hotels, and gym memberships.
"american express seems to be taking a very methodical approach on the type of client that they want to retain which seems to be very wealthy people who live in big cities and spend a lot of money on travel dining hotels in the gym"
American Express Platinum Card Target Customer
Pending
The American Express Platinum card's value has decreased for the average person but increased for high-spending individuals within their target demographic.
"that means even though the american express platinum is no longer as good as it once was for the average person if you fall within their wealthy spendy demographic you're getting way more value than you ever did before"
American Express Platinum Card Value Proposition Shift
Pending
American Express is intentionally making changes to its cards to shed customers who are not profitable.
"to me it seems like they're purposely making these changes to be able to shake out all the people who don't add to the bottom line of american express"
American Express Card Strategy
Pending