That is a ridiculous increase. I don't know of any card that actually does what it says it will do. I have Capital One and Citibank and Amex. Amex is the only one I get a companion certificate from. I don't have their platinum, I have the Delta/Amex one. It's $95/year, but they'll probably go up if they're going up that much for platinum. At which time, I will no longer use the card
That is for the Canadian AMEX platinum. The U.S. model is currently $450. I've had one for several years. I think it was $375 when I first got the card. My favorite perk is free access to airline lounges like the Delta Sky Club. That can add up if you paid for a pass each time or bought memberships.
I have a Delta Skymiles AMEX gold card too. I got it because of the earlier boarding zone perk, and for the 'free' checked bag. So the fee for it is worth it to us. We fly next week and instead of having to pay $75 for luggage we will pay nothing. Plus the zone 2 boarding means a better chance at overhead storage. Really though, it is sad that anyone has to buy a credit card just to get those kinds of 'perks'.
I should have mentioned it was a Canadian card. I will miss the lounge access if I cancel, however $700:00 is a little steep. Not sure what I will do, I have until next March to decide, I may just go for the gold card. It could be Amex just wants the high rollers up here, guess I will not be invited to purchase the black card.
Back in "the day" as they say, a few of us were in the Vancouver Club swapping lies, and we had a bet who could qualify for the card. For one reason or another I received mine.
I once bought a Cessna 172 using the card, my bank had a fit. I can still remember the managers words when he stated "with the best intentions in the world Bryan I am not sure how you intend to swing this one" (actually we leased the plane to a flying school and it all came out in the wash). I would hate to give the card up now. I would not have the income to meet the criteria for another as I am more retired than not.
The highest single charge I've made on the card was close to $15,000 for a watch. Being able to buy something like a Rolex or airplane with a charge card is indeed cool but also a bit dangerous if you aren't careful. Especially when you realize they expect you to pay it off with the next billing because it is a charge card and not a credit card.
I wonder sometimes how expensive a purchase has to be before they throw the flag and want to discuss it first. When I had a green card I bought a new computer with it and it was around $2400. I think it was 1989 or 1990 when computers were not cheap. Anyway the clerk called the charge in and then handed the phone to me. I had to talk to the AMEX person before she'd approve the charge. They say 'no pre-set spending limit' but I'm sure there is a dollar amount that I can't cross until they get paid for my current charges.