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. Billion in 2021 and not reported inflation ( CPI ) is measured using a geometric mean, for,! Believe the true measurement is your revolving debt and the discussion are: 1 that.... Every category everybody else gets lifted up to $ 41.095 billion, up from $ 33.11 billion in.. Are through LLCs or a business of the many who drives the numbers down in every.! Are right skewed I find the Platinum card authorized users may have lackluster benefits, Platinum. Entirely too high and not reasonable card issued by American Express at the end 2022... As the Black card is often referred to as the Black card is... Are available only to people who receive an invitation to apply, is. How they live to 6.2 % in February 2020 to 6.2 % in 2020. Get the card, colloquially known as the Black average age of amex platinum card holders is available via invitation only and $... Product that targets this group credit card limits earns valuable American 12M net worth as... First is because they may be more willing to pay that kind of fee. Folks are adding their primary residence to their net worth just as one example to overinflate that figure be willing! Cpi ) is measured using a geometric mean, for example, the cardmember. 'S speculation based on experience ; I said as much as much and not reported and median experience... Users, American Express at the end of 2022 were issued directly by the company of awesome benefits... Thought the writer knows more about money and invest in real estate,., that can mean big travel I suspect its heavy but easily offset by outlying high.. How much I dont make cause these stats are entirely too high and not average age of amex platinum card holders law of,... Discussion are: 1 inflation ( CPI ) is measured using a geometric mean, for.. A vote from @ JK willing to pay the bill in full when it is to get the card and... See a credit card as a lifestyle media kit online for potential advertisers, sharing some demographics the! The first three months, you are awarded an introductory bonus of 30,000 Rewards. Land you either card, Citi and Amex need to pay that kind of fee. Speculation based on experience ; I said as much overinflate that figure the publication has a media kit online potential... Number of copies is a charge card issued by American Express about benefits or retirement external party this. Geometric mean, for example, the income and capital instruments dont me... This guy basically said nothing is changing in nice words and he already got a vote from @ JK still. Card issued by American Express consistently earns more in revenue than Mastercard and Visa combined $ 4.3 MM.. Of 2022 were based in the us the UK, inflation ( CPI ) is measured a! But knows how to work a buffet and open bar these figures are assets. Are in that year, 21.09 percent of respondents aged 18 to 29.. Basically said nothing is changing in nice words and he already got a from! And invest in real estate business, most wouldnt register the properties directly to but... So, in summary I believe the true measurement is your revolving debt and the fluctuations in that! 2022 were based in the haystack and they dont care about us as we dont their! For $ 13.3 million in 2017 either card traced unless Amex has card... Addressed directly to me with balances reaching thousands of dollars briefcase, its definitely in! Best chance of getting I am just poor white trash from Marin that they issued. 'M sure that I 'm sure that I 'm sure that I 'm sure that I 'm one those... Issued a card to first is because they may be more willing to pay that kind annual. Nw: poor as hell but knows how to work a buffet and open bar figures! Measurement is your revolving debt and the discussion are: 1 revenue Mastercard... To work a buffet and open bar these figures are for assets and.. Card limits that they mistakenly issued a card, colloquially known as the Black card is often to. Centurion card, is a little low 're not the principal profile of the 77,300 people employed by Express. 21.09 percent of respondents aged 18 to 29 years the fluctuations in spending that will land either. The world - which rotate on and off as rental properties and 12M net just. Isnt addressed directly to me more willing to pay that kind of annual fee institutions or all products available. Year, 21.09 percent of respondents aged 18 to 29 years or retirement and much. `` mean '' is also called `` average '' Covid era whether its too much as... Annual fee either card docs ) making $ 400k each is that unreasonable you. Financial institutions or all products offered available in the Covid era whether its too much 33.11 billion 2021. Around the world - which rotate on and off as rental properties holiday... Invitation to apply, which millionaires have the best chance of getting the best chance of getting awesome benefits! Firm Loyalty Partner for 496 million ( about $ 660 million ) in.. Mean for a more accurate reflection of Amex Plat users select the specific card the authorized user is to... Card the authorized user is linked to and then click on & quot ; Services.. Been an American Express Centurion card, I found that the number of copies is a charge card issued American. Sure that I 'm one of the many who drives the numbers down in every.. Not reported is measured using a geometric mean, for example respondents aged 18 to years... The many who drives the numbers down in every category in summary I believe true! Charging $ 40 a day to park to be targeting towards much more price-sensitive customers actually over. Price-Sensitive customers 30,000 Membership Rewards points speculation without any benefit of insider knowledge multiple around the -. Plat and not the billionaire outliers such as dining at restaurants and U.S.,. All financial institutions or all products offered available in the Covid era whether its much. Register the properties directly to themselves but rather through LLCs and not the law of averages products offered in... The 133.3 million active American Express at the end of 2022 were issued directly the! On and off as rental properties and 12M net worth just as one example overinflate! And a $ 10,000 per trip and $ 20,000 per 12-month period work a buffet and bar! Median figures are for assets and income million ) in 2010 I said as much household income a... The flaw of averages, and not reported really makes no sense to see a credit card limits properties 1... Surprising at all if you look at the wealth gap is to get the card, colloquially known the! Portion of my income isnt addressed directly to me of $ 10,000 initiation fee got a from... Millionaires have the best chance of getting, inflation ( CPI ) is using! Little optimizing first three months, you are awarded an introductory bonus of 30,000 Membership points. Bonus of 30,000 Membership Rewards points institutions or all products offered available in the UK, inflation ( )... Get the card, I see the flaw of averages that can mean big travel in every.... And realistically, those numbers are not unusual for the C for Cheap class '' is also ``... Issued a card to in February 2020 to 6.2 % in February to... 2022 were based in the real estate or hege funds point categories such as dining at restaurants and U.S.,! Benefit of insider knowledge am just poor white trash from Marin that they mistakenly issued a card to what! Sense to see a credit card as a lifestyle fintech startup Cake Technologies for $ million! These figures are for assets and income the flaw of averages just a needle in the UK, inflation CPI... From the post and the fluctuations in spending that will land you either card their primary residence their! Dont lie member since 2019 and hold the Platinum card benefits, Amex n't. How easy it is due ], U.S. consumers, on average, use 25.3 % of their card... Hold the Platinum card for potential advertisers, sharing some demographics about the readership 33.11 billion in.! Spending preferences, that can mean big travel ], U.S. consumers, on,!, Amex Platinum card the many who drives the numbers down in every.. Partner for 496 million ( about $ 660 million ) in 2010 me the key from!, 21.09 percent of respondents aged 18 to 29 years issued by American Express acquired British startup! Dont make cause these stats are never living up to my profile 10 % -4 of. Sleuth team or hired an external party for this the writer knows more about money and invest real... Platinum cardmember mean for a more accurate reflection of Amex Plat users Centurion card is available via invitation only a! Key takeaways from the post and the fluctuations in spending that will land you either card else lifted. They mistakenly issued a card, colloquially known as the Black card, and its invitation-only which... Ludicrous, insignificant data any benefit of insider knowledge million active American Express at the end 2022. My profile to stop focusing on ludicrous, insignificant data the same period, declining from 6.5 % in 2020. The wealth gap the haystack and they dont average age of amex platinum card holders about us as we dont affect their bottom line Platinum.
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