Reply To: Amex Platinum benefits into 2025

[jj]

I’m definitely not bonkers, although my original post was deliberately provocative and colourful.

Amex Platinum currently shares a problem the all-you-can-eat buffets that were popular 15 years ago: most customers must overpay to subsidise a minority who have learned to properly shove their snouts in the trough. Once the majority realise they have been duped, the game is over.

Instead, I suggest that Amex should return to the business model that made it so successful in bygone years: 1) Attract genuinely wealthy customers; 2) Attract businesses that want to sell products and services to wealthy customers; 3) Put group 1 in touch with group 2; 4) Profit.

People earning £35K per annum do not have sufficient disposable income to be really attractive to luxury businesses. They are, of course, valuable and important members of society, but that’s not the point. Their presence in the Platinum customer database makes that database less valuable to upmarket businesses seeking to partner with Amex.