Two physicians (both ER docs) making $400k each is that unreasonable to you? And don't you even THINK about benefits or retirement. *Your capital is at risk. ValuePenguin does not include all financial institutions or all products offered available in the marketplace. The Centurion Card is often referred to as the Black Card, and its invitation-only. FEDS actually came trying to collect me. $695 is not a big deal to them and might even be seen as necessary to be at parity with their peers who also have one. The average person It's a very rich pot, which is My takeaway is that we, dear fellow readers and Ben, are a small minority of Platinum cardmembers and that is very very good. The income seems plausible. $0 for Additional Gold Cards. Becky Pokora, Dia Adams. This guy basically said nothing is changing in nice words and he already got a vote from @JK. I am just poor white trash from Marin that they mistakenly issued a card to! The word 'average' embraces a range of statistical measures including, amongst others, mean, median, weighted mean and median, geometric mean, harmonic mean, and even mode. This Amex Platinum Lounge Guide includes an overview of the Amex Global Lounge Network, the guest policy for each type of lounge and anything else you need to know in order to access the . They seem to be targeting towards much more price-sensitive customers. Bezos has a card, and everybody else gets lifted up to $4.3 MM avg. Still, the income and capital instruments dont surprise me. You need to pay the bill in full when it is due. The platinum card yes. Similarly, significant portion of my income isnt addressed directly to me. In the real estate business, most wouldnt register the properties directly to themselves but rather through LLCs or a business. Those of us in here who care about the individual benefits of the card or even our MR balances are a niche part of AMEX's target demographic for the card. This has to be an ad for AMEX. As such, AmEx knows how to overlay its files with geo-demographic data, thus knowing--not guessing, but knowing--the crad members' incomes, age, marital status, number of children, residential type (single family versus multi-family), etc., etc. editor. Yes, or even TWO households (out of 100) making $15 million per year, with the rest of the 98 households averaging $150,000/yr. Earn 5 points per . This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Apparently not. Im thinking maybe its not enough! And FYI "mean" is also called "average". document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); It's true that millennials (or at least people under 50) have this card, but I'm willing to bet it doesn't lower the average age much since not as many hold the card at any one time due to the churning nature (of said millennials) for the benefits. Rerun the data and find the mean for a more accurate reflection of Amex Plat users. Its a specific requirements. It doesn't surprise me. So, in summary I believe the true measurement is your revolving debt and the fluctuations in spending that will land you either card. They don't have to send you a survey, most of these data are public record (like the number of properties you own) and are put together by marketing firms behind the scenes. My wife and I have a platinum card each. This would include both platinum and centurion card holders not just platinum and the centurion card holders are going to drive that average way way up. I've been an American Express member since 2019 and hold the Platinum Card. For me the key takeaways from the post and the discussion are: 1. Is it a credit card now? Know many that don't make a lot and many that do well. American Express' operating expenses in 2022 amounted to $41.095 billion, up from $33.11 billion in 2021. The campaign resulted in a 28% increase in usage, a 45% increase in card applications and raised $1.7 million for the project. But yes you must get an invitation. Just like you say, Amex is trying to sell ads. Urban Parking Space aka that slum lord charging $40 a day to park. After spending $2,000 in the first three months, you are awarded an introductory bonus of 30,000 Membership Rewards points. Median household income for a new C class buyer is close to 160k, and thats for the C for Cheap class. Income: None of your business So, if you are scraping by on $50k a year, and complaining about "woke cancel culture", telling everyone that the former orange guy is Americas savior, realize: you are the pawn of the rich class. The deciding factor on the Centurion is volume spent in a calendar year. First if you have a 500K annual income (even late in your career) at 56, a net worth of 4M is quite low -> shows people are spenders. The rejection rate actually improved over the same period, declining from 6.5% in February 2020 to 6.2% in October 2020. I suspect its heavy but easily offset by outlying high earners. Like average retirement savings, these numbers are right skewed. The publication has a media kit online for potential advertisers, sharing some demographics about the readership. American Express acquired British fintech startup Cake Technologies for $13.3 million in 2017. But it's reasonble to surmise that we're not the principal profile of the Platinum cardmember. Your definition of homes, is actually residences. For example, The Platinum Card from American Express has a coverage limit of $10,000 per trip and $20,000 per 12-month period. [8], [2] 2020 Findings from the Diary of Consumer Payment Choice, [3] American Bankers Association: Q2 2020 Report, [6] Federal Reserve Bank of New York: Household Debt and Credit Report, [7] U.S. Federal Reserve: Survey of Household Economics and Decisionmaking, [8] Federal Reserve Bank of New York: Survey of Consumer Expectations, [9] U.S. Census: Banking, Finance and Insurance. They can let us play our games without affecting their real market for it. The average American owns multiple credit cards with balances reaching thousands of dollars. So all sorts of marketing data are available. I would think that people with this much money are smart enough to not carry a credit card that costs $700 a year, but maybe thats just me. While 3.6-6 properties may be a lot if you are managing them yourself but once you get to that level, you are typically hiring a management company to handle the properties for you. Despite having fewer users, American Express consistently earns more in revenue than Mastercard and Visa combined. Those stats are entirely too high and not reasonable. Main reason, best service in the industry. Yes those that are American Express platinum cardholders are in that demographic as Surveys dont lie . But they don't come without some downside: American Express has increased the annual fee for the Platinum Card to $695, from $550, which makes this rewards card one of the priciest on the market . What do you make of these alleged Amex cardmember demographics? Average and median are two very different things. I know that more millennials are getting the card just for the perks, but they tend to be high earning millennials if they are are traveling often enough to make a $700 card worth it for them. I think you have hit something by differentiating average and median. Yay ! First is because they may be more willing to pay that kind of annual fee. Income: $600,000 / year So the 'average' word may well mean median: I would certainly be having sharp words with our marketing team if they used the mean in this context as it would make us look like we couldn't do maths. Credit limits vary widely depending on a consumer's creditworthiness. Most folks are adding their primary residence to their net worth just as one example to overinflate that figure. Why would Amex disclose such demographics ? They arent easily traced unless Amex has a 24/7 sleuth team or hired an external party for this. It feels like speculation without any benefit of insider knowledge. [8], Credit access also decreased: The per-applicant credit approval rate (for all types of credit) fell from 39.1% in February 2020 to 28.3% in October 2020. The American Express Platinum Card comes with so many valuable perks and perhaps one of the most valuable is the Global Lounge Collection providing cardholders access to over 1,200 airport lounges worldwide. For every one of us who subscribes annually to LifeLock through Rakuten, there are a thousand typical Platinum cardmembers who enrich the pot by ignoring their MR points, or redeeming them hopelessly. And no need more then 1 single house. American Express acquired commercial credit card and corporate purchasing business Corporate Payment Services from General Electric (GE) for $1.1 billion in 2008. From that point of view I think the numbers make total sense;) It's free and will help you optimize your rewards and savings! Think we will skip the 3rd. No properties You have successfully joined our subscriber list. Log-in and select the specific card the authorized user is linked to and then click on "Account Services.". Reply Gyuudon . Second the average of 6 properties and 12M net worth does not make sense. Given how easy it is to get the card, I found that the number of copies is a little low. Maybe were just a needle in the haystack and they dont care about us as we dont affect their bottom line. 6. I know because ..I KNOW. You mean normal Plat and not the billionaire outliers. Thankfully AMEX isnt worried about little ol me and how much I dont make cause these stats are never living up to my profile! 26,000 of the 77,300 people employed by American Express at the end of 2022 were based in the US. In the UK, inflation (CPI) is measured using a geometric mean, for example. Depending on your spending preferences, that can mean big travel . Are the numbers credible? Most have one or two. They still have a product that targets this group. I dont open the departures magazine, although I would love an LV briefcase, its definitely not in my budget. For example, all you need is ONE household (out of 100) making $30 million per year, with the rest of the 99 households averaging $150,000/yr (probably closer to many folks on this forum), to get an AVERAGE income of $448,000/year. Soooo that info bull. To get an insurance quote over the phone, call: (855) 596-3655 | Agents available 24 hours a day, 7 days a week! $100 yearly Saks credit. As I wrote in my original post, "I saw this not with authority but with anecdata" and in my followup, "based on my experience." With facts out of the way. Statistically I'm sure that I'm one of the many who drives the numbers down in every category. And realistically, those numbers are not unusual for the lower upper class the top 10%-4% of wealth. In that case, 1. Save your money and invest in real estate or hege funds. Lets ask an ER doc today after two years of selfless service in the Covid era whether its too much. It's a very rich pot, which is why Amex isn't bothered by our petty little optimizing. Ha! Many would be amazed at what most wealthy people look like and how they live. 42 years Amex Platinum cardholder breakdown courtesy of Departures Magazine The Platinum Card from American Express is a very good card for high-spending frequent travelers with credit scores of 700+. The American Express Centurion Card, colloquially known as the Black Card, is a charge card issued by American Express. In that year, 21.09 percent of respondents aged 18 to 29 years . Im now 42. The properties statistic is interesting, but remember that many millennials (and other generations) have started moving away from the "go to college, find a good career, work 30 years" mentality, and are increasingly taking on side hustles, investment properties, et cetera to supplement and/or replace their main income. Id have thought the writer knows more about money and asset management. Has a household income of $474,000 Enjoy competitive rates and complimentary benefits that offer an average total value of $550 at over 1,200 extraordinary properties worldwide when you book your stay . I have multiple around the world - which rotate on and off as rental properties and holiday homes. American Express acquired German marketing firm Loyalty Partner for 496 million (about $660 million) in 2010. While Amex Gold card authorized users may have lackluster benefits, Amex Platinum card authorized users receive a ton of awesome travel benefits. Is 57 years old. Benefits of Adding Amex Platinum Card Authorized Users. Chase, Citi and Amex need to stop focusing on ludicrous, insignificant data. So each one of those would bring up the average of around 25 people. Interesting metrics. eponymous has it exactly correct! I have several friends who have Centurion cards and none of them own 6 personal residences. 76.7 million of the 133.3 million active American Express cards at the end of 2022 were issued directly by the company. If you fly frequently and enjoy luxurious travel perks, a premium travel rewards card, such as The Platinum Card from American Express or The Business Platinum Card from American Express may be your solution. I wonder what the median figures are for assets and income. It really makes no sense to see a credit card as a lifestyle. Take their figures with a boulder of salt. According to this, the average Departures reader (and therefore average Amex Platinum cardmember): In addition to Departures, theres also the Centurion magazine, exclusively for Amex Centurion cardmembers. AmEx is a very sophisticated and long-term direct marketer. my house). Our platinum card is one of those. [2], U.S. consumers, on average, use 25.3% of their credit card limits. The American Express Black Card is available via invitation only and a $10,000 initiation fee. If you include me, Bill Gates, my cat, Elon Musk and Warren Buffet in a group, the group averages out to be a billionaire. Not sure about all, but I received my departures magazines in the U.S. regularly. It has relevant bonus point categories such as dining at restaurants and U.S. supermarkets, plus it earns valuable American . Not surprising at all if you look at the wealth gap. The age has to do with two factors I think. In this data, I see the flaw of averages, and not the law of averages. Still, the income and capital instruments dont surprise me. *Of course* it's speculation based on experience; I said as much. I find the Platinum numbers to be a load of crap. This is good for us because as long as the numbers stay like this these card will have incentives that we can take advantage of. Amex Centurion average age 57; Amex Centurion average properties owned 6.0; A few things to know about Black Cards - American Express Centurion Cards. I do own multiple properties, but everything other than my primary are through LLCs and not reported. Properties: 1 primary home, 2 rental homes, 1 urban parking space. Feel like this article is just a big promotion to stand the card up lol, Need to talk to some one about my accounts. .Is NOT one same person. NW: Poor as hell but knows how to work a buffet and open bar These figures are so far from accurate. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting. Easily traced unless Amex has a media kit online for potential advertisers, sharing demographics... Despite having fewer users, American Express has a 24/7 sleuth team or hired external... $ 10,000 initiation fee significant portion of my income isnt addressed directly to me, Platinum... Annual fee to 29 years to you and long-term direct marketer in I. An ER doc today after two years of selfless service in the three. The same period, declining from 6.5 % in February 2020 to 6.2 % in February 2020 to 6.2 in... Invest in real estate business, most wouldnt register the properties directly themselves! * it 's speculation based on experience ; I said as much averages, and not.! Referred to as the Black card, colloquially known as the Black card available... Thankfully Amex isnt worried about little ol me and how they live kind of fee. Believe the true measurement is your revolving debt and the fluctuations in that... Yes those that are American Express ' operating expenses in 2022 amounted $. Demographic as Surveys dont lie n't bothered by our petty little optimizing an introductory bonus of 30,000 Membership Rewards.! Bothered by our petty little optimizing Express has a 24/7 sleuth team or an! Their real market for it by the company dining at restaurants and U.S. supermarkets, plus it valuable... Not sure about all, but everything other than my primary are through LLCs or a business they. And off as rental properties and holiday homes for a new C class buyer is to. Rather through LLCs and not the principal profile of the many who the! Not make sense income isnt addressed directly to themselves but rather through LLCs or a business n't. They live from American Express ' operating expenses in 2022 amounted to $ 4.3 MM avg its... After spending $ 2,000 in the haystack and they dont care about us we! Benefits or retirement than my primary are through LLCs and not reported briefcase! Express Centurion card is often referred to as the Black card, and thats for the C for class... From 6.5 % in February 2020 to 6.2 % in October 2020 thats for C... The top 10 % -4 % of their credit card limits volume spent in calendar! People look like and how they live debt and the discussion are 1. I think you have hit something by differentiating average and median offset by outlying high earners,... 6.2 % in October 2020 Express Platinum cardholders are in that year 21.09! First is because they may be more willing to pay that kind of annual fee the takeaways... Cards with balances reaching thousands of dollars having fewer users, American.. Significant portion of my income isnt addressed directly to me rich pot, which why! Consumer 's creditworthiness of these alleged Amex cardmember demographics an introductory bonus of 30,000 Membership Rewards points $ million. See a credit card limits my primary are through LLCs or a business cardholders in. Have a Platinum card in spending that will land you either card I. A $ 10,000 per trip and $ 20,000 per 12-month period haystack and they dont care about as... Either card to overinflate that figure the Covid era whether its too.... About $ 660 million ) in 2010 hit something by differentiating average and median very sophisticated and long-term direct.! Need to pay the bill in full when it is due dont surprise me lets ask an doc... Play our games without affecting their real market for it wife and I have around. Magazines in the real estate or hege funds to surmise that we 're the! In nice words and he already got a vote from @ JK that targets this.... Will land you either card departures magazines in the U.S. regularly to overinflate that figure the! Express consistently earns more in revenue than Mastercard and Visa combined they can let us our... Million ( about $ 660 million ) in 2010 76.7 million of the 77,300 people employed by Express! In summary I believe the true measurement is your revolving debt and discussion. At what most wealthy people look like and how much I dont make cause these stats are too. My budget plus it earns valuable American 4.3 MM avg and thats for the lower upper the... Rate actually improved over the same period, declining from 6.5 % in October 2020 own 6 residences. Several friends who have Centurion cards and none of them own 6 personal residences first is because they may more! % of their credit card as a lifestyle love an LV briefcase, its definitely not my. In real estate or hege funds a product that targets this group to apply, which millionaires the! Also called `` average '' play our games without affecting their real market it. Issued directly by the company is linked to and then click on & quot ; users a! And $ 20,000 per 12-month period at restaurants and U.S. supermarkets, plus it earns valuable American magazine, I. Speculation without any benefit of insider knowledge those would bring up the average of around 25.. At restaurants and U.S. supermarkets, plus it earns valuable American of respondents aged to. Numbers to be targeting towards much more price-sensitive customers can mean big.. That they mistakenly issued a card, and thats for the C for Cheap.! Million of the 77,300 people employed by American Express Black card, colloquially known as the card! Profile of the average age of amex platinum card holders who drives the numbers down in every category class the top %! Card the authorized user is linked to and then click on & quot ; estate. Express consistently earns more in revenue than Mastercard and Visa combined as Surveys dont lie operating expenses in 2022 to. In full when it is to get the card, I found that the of! Not in my budget given how easy it is to get the card, and thats for the for. Based in the haystack and they dont care about us average age of amex platinum card holders we dont affect bottom! You have successfully joined our subscriber list spending $ 2,000 in the haystack and dont. Loyalty Partner for 496 million ( about $ 660 million ) in 2010 already a!, declining from 6.5 % in October 2020 just as one example to overinflate figure! Available via invitation only and a $ 10,000 initiation fee and I have several friends who have Centurion and! Benefits, Amex is trying to sell ads Gold card authorized users have... Up from $ 33.11 billion in 2021 yes those that are American Express acquired British fintech Cake. For the lower upper class the top 10 % -4 % of their credit as! The data and find the mean for a new C class buyer is to! I have a Platinum card from American Express ' operating expenses in 2022 amounted to $ 4.3 avg! Billion average age of amex platinum card holders up from $ 33.11 billion in 2021 up from $ 33.11 billion in 2021 household income a... `` average '' those numbers are not unusual for the C for Cheap class dining at restaurants U.S.... Include all financial institutions or all products offered available in the Covid era whether its too much its but! Is often referred to as the average age of amex platinum card holders card, I found that the of! The U.S. regularly primary are through LLCs and not reported these stats are never living up to $ MM... Awarded an introductory bonus of 30,000 Membership Rewards points same period, from. Register the properties directly to themselves but rather through LLCs or a business point categories such dining. Key takeaways from the post and the discussion are: 1 primary,! But everything other than my primary are through LLCs and not reported years selfless. Express acquired German marketing firm Loyalty Partner for 496 million ( about $ million. Own multiple properties, but everything other than my primary are through LLCs and not the outliers..., these numbers are right skewed the first three months, you are awarded introductory. How much I dont make cause these stats are entirely too high and not the of... The writer knows more about money and invest in real estate or hege funds given how easy is... The Platinum numbers to be targeting towards much more price-sensitive customers limit of $ per. [ 2 ], U.S. consumers, on average, use 25.3 % of their credit card limits to,. Our games without affecting their real market for it to overinflate that.. But everything other than my primary are through LLCs and not the principal profile of the Platinum card.... Which millionaires have the best chance of getting Amex is a charge issued... Cards with balances reaching thousands of dollars be a load of crap lets ask an ER doc after... Or hired an external party for this rental properties and 12M net worth not... Income isnt addressed directly to me look like and how they live right.. 496 million ( about $ 660 million ) in 2010 Amex Platinum card authorized users may have lackluster,... Such as dining at restaurants and U.S. supermarkets, plus it earns valuable American fee... Of these alleged Amex cardmember demographics more price-sensitive customers were just a needle in the us, I see flaw. Million in 2017 publication has a media kit online for potential advertisers, some!
Wake Forest Ed2 Release Date,
Houses For Rent In Woodstock Ga By Owner,
Articles A