4 ms·
> in 2023, Amex cardholders (U.S. consumers only) spent, on average, $13,945 per year, or almost 4 times more than Discover cardholders Honestly, not surprised
by xyst 2y ago
> in 2023, Amex cardholders (U.S. consumers only) spent, on average, $13,945 per year, or almost 4 times more than Discover cardholders
Honestly, not surprised. AXP/AMEX marketing team and superior customer service in the early days of the programs made it the top card to own amongst wealthy individuals.
The once coveted "black card" or Centurion product was invite only to existing card holders with the platinum card and met a certain annual spend criteria (some 6 figure amount). Card holders of this product paid some couple thousand dollar "initiation fee" and of course the annual fee. AXP got paid and then double dipped on the merchant side with even higher fees (the "no limit" cards charge a higher transaction fee).
Its exclusivity and hype has died down, especially when it started to issue centurion for businesses. Very easy to hit the required spend limit and use it as a weird flex at your next dinner party or restaurant outing with friends/family.
Honestly, if it wasn't for the centurion product. AXP would just be another credit card company and credit card network out in the wild (maybe it would have just been like "Diner's Club")
- chasd00 2y ago>The once coveted "black card" or Centurion product it even made it into pop culture, Ariana Grande's song 7 Rings has the lines Black card is my business card The way it be settin' the tone for me I don't mean to brag, but I be like, "Put it in the bag,"
- yieldcrv 2y agothere have been r&b songs about this card since late aughts to my knowledge, when it was still mythical but yeah the US Amex platinum has most or better perks than the Centurion now
- dumbo-octopus 2y agoKanye did it better (and 15 years earlier): I went to the malls and I balled too hard "Oh my god, is that a black card?" I turned around and replied, "Why yes – but I prefer the term African American Express"
- sva_ 2y ago> use it as a weird flex at your next dinner party or restaurant outing with friends/family. Went to a dinner with some of my gfs friends and her in NYC recently during my latest trip to the US (they work for Amex apparently). At the end of the dinner they suggested we all just pay separately because it is more simple. It confused me but I didn't mind. I understood it when the waiter held down a silverplate for us to put our credit cards on, and they pulled out their gold and platinum cards respectively, my gf also followed with her platinum card. Then there was me, the only Europoorean at the table, and I put my regular card with a picture of a small kitten on the plate. The waiter complimented me on my card with a smile and I kinda cherish that. American flexes are weird to me, lol. I don't really get it, except for the access to airport lounges with free food/drinks, if you do fly a lot.
- addicted 2y agoI’m not sure what part you were confused about. Splitting charges is very common in the U.S. and has little to do with flexing your credit cards.
- sva_ 2y agoI suppose, but we were two couples. I usually pay for my gf, and in the case of a double-date, the other guy usually pays for his gf/wife. I don't have the impression that splitting charges is more common in the US than the gentleman paying for his date. But I guess it does happen. Sometimes my GF insists on paying to even it out a little though.
- kubectl_h 2y agoTwo couples = two cards (at most) in my experience. Some people are really particular about bills though. Did you split evenly or itemize the bills?
- danielhep 2y agoAt least in my circles, unless it's like a first date, everyone is paying for their own meals. My girlfriend and I put receipts on the fridge and then reconcile them every so often.