{ "media_type": "text", "post_content": "Anyone think AMEX needs to up the platinum benefits to compete with CSR? Lyft Pink membership is very attractive, especially now that the airline gift card loophole is closed", "post_id": "5e545704299e7c001b6168f9", "reply_count": 12, "vote_count": 6, "bowl_id": "58f82522753e990016609224", "bowl_name": "All things points" }

Anyone think AMEX needs to up the platinum benefits to compete with CSR? Lyft Pink membership is very attractive, especially now that the airline gift card loophole is closed

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Well, I’m not sure the CSR on its own is really that profitable for Chase. There are surely some people who are very valuable to Chase that have CSR and Sapphire Banking and a mortgage and brokerage as well. But many who extract more than $550 per year and end up being unprofitable even accounting for interchange. I think I’m one of them... JPM has taken charges in the past for unexpectedly high credit card benefits expense driven by CSR; fee hike of $550 is in part seeking to address this issue. And Amex can’t really play the same game as Chase because Amex doesn’t offer a full portfolio of financial services.

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Most of the revenue from these premium cards is driven by the increase in % of the interchange fee that they take from a merchant. Those perks are mostly subsidized by the merchants and eat into their profit margins.

Lyft Pink isn’t a gamechanger unless you would get it anyway. Lyft routinely gives me 25+% discounts without it.

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IME Amex concierge is worlds better than CSR’s but agree CSR has many other better offerings

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The airline fee credit being so restrictive makes the Amex Plat non-competitive. I have status with an airline that makes the fee credit useless. I think this is the same for many of the Amex Plat’s key demographic. The Centurion lounges are also great but not in many airports and the delta lounge membership is really restrictive.

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Found a loophole for Amex - buy a GC for $50 and use that towards a flight, the remainder of the purchase price will be refunded so if you buy a flight > $250 you will use all your incidental credit and it will only cost you the GC value. This worked a week ago.

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Gift card

THEY CLOSED THE AIRCRAFT LOOPHOLE ???

You could trigger the $200 benefit through delta if you used a gift card on the airfare first

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