Rumor Alert: Will Amex be making a big announcement on 10/5?

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Rumor Alert: Will Amex be making a big announcement on 10/5?

This is something that is being tossed around the threads on reddit. There isn’t a whole lot of substance to the rumor and the original poster has removed his post otherwise I’d give him a H/T.  Here’s the skinny: the original poster was chatting up some girls at a bar. They happened to work for Amex and noticed his Sapphire Reserve and told him to keep an eye out for a big announcement on 10/5. I know…the rumor is loose and fast. But let’s have some fun because these rumors just keep getting juicier and juicier. First the Reserve, then 10x Freedom, and now this. Not that Miles wants this blog to turn into the National Enquirer, but should we have a little fun and try and guess 1) if it’s true, and 2) what will it be? 

I’m gonna go with True. Cause why not? Amex needs to respond 

I wrote a whole article about how much Amex needs to respond. Wait, I wrote two articles! 

  1. Chase’s 5/24 rule is a huge opportunity for Amex
  2. Amex should respond to Chase Sapphire Reserve with Vigor

So will 10/5 be the day that Amex unleashes Vigor on Chase?

  • Maybe Amex has been reading the blog and will Unveil the American Express Vigor
    • It would be the first soft, plush, and brown premium card ever to hit the market: it would be the Amex version of Miles.
    • It would be the most baller card of all time, obvs. People would be saying, “Reserve who? Gimme Vigor or Gimme Death!”
    • Miles would become the brand ambassador: “More lux, Less bucks. Live your life with Vigor”

Ok That pipedream was all fun…but, seriously, what would be HUGE?

  • they could get rid of the once in a lifetime clause on sign up bonuses for personal cards?
  • Introduce public 100k personal offer?
  • Amend and improve their benefits for Amex Plat to compete with Reserve?
  • Better Priority Pass?
  • 3x spend on everything

If there is a big announcement….What would you want it to be?

ps…if you wrote the original post on reddit and you’re reading this…lemme know. I’ll H/T you if you’d like. 

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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17 Comments

  • […] Amex is supposedly announcing something big in the beginning of October. Sooo I’ll at least wait til after that […]

  • jediwho September 27, 2016

    Off topic: I already have Business Platinum and also got the 50K offer to upgrade from Gold. Does it make sense? I will have two Business Platinum if I upgrade.

    • Miles September 27, 2016

      Hey Jediwho – this is the exact situation that I was in. I went ahead and pulled the trigger because, to me, the points and benefits made it worth doing. I’ll also end up canceling my original biz plat and only keep the upgraded one. Figured this was a great way to double dip on bonuses as I’ve already received my once in a lifetime bonus the traditional sign up way.

  • Pat September 27, 2016

    The most unique (and most fun) bonus category would be 3x points on any purchase over $100 using the Platinum card. It would make the card useful for spending money on and reinforce the image of the card being for big-spenders. It would indirectly apply to most airfare/hotel purchases as well.

    They can cap the benefit at $500,000/yr or something to prevent insanity the next time a guy buys a Picasso with his charge card.

  • Bill September 27, 2016

    I agree with Steve above: Amex Platinum finally is going to offer bonus spending categories to compete with the Chase Reserve and Citi Prestige cards. Amex may also offer a lucrative sign up bonus to entice more people to sign up for the Amex Platinum, since that does get people’s attention (and get the new customers, which is the whole point!).

    The fact that Amex Platinum has no spending bonus categories is RIDICULOUS to me. That’s why I’ve never gone for the Plat. I have the Business Gold and spend tons on airfare for the 3x points (and now the Sapphire Reserve will share that duty) and more on the 2x categories…and I always get offers to upgrade to the Plat (for up to 100k even). I’ve never bitten. My husband got the Citi Prestige and we use that for the 4th night free benefit…so rarely the Amex Plat.

    Amex has been losing to Citi Prestige quite a bit…and now the Chase Reserve. Amex has lost CostCo. Amex has lost JetBlue. Amex may lose SPG, too. Amex is in TROUBLE. The only client company Amex still has of major value is Delta.

    • Miles September 27, 2016

      Bill – thanks for reading and totally agree. Amex is getting slaughtered so hopefully at the very min it’s some good spend categories.

    • Jr September 28, 2017

      Bill. Amex had $32 billion in revenue in 2016. In trouble? Doubt it.

  • Fivegirls September 27, 2016

    Hmmm. Right now many of us have an offer to upgrade our Gold to Platinum for 50,000 points (spending requirement $10,000 in 5 months). Of course this only makes sense of you’ve already had the platinum bonus. This offer expires October 4. I wonder if I should hold out for something better?

    • Miles September 27, 2016

      Hey Fivegirls – I did this upgrade for the exact reason you listed… Already got the bonus last year. Interesting that the offer expires on 10/4 and there is a rumored release on 10/5. Could be coincidence. Lemme know what you decide to do. There is no certainty of a release but just rumor right now.

  • SW September 27, 2016

    Ooooh, I have a 100k targeted offer sitting on my desk….I think I’ll wait a bit to see what shakes out.

  • HS September 27, 2016

    150K bonus for plat

  • Steve September 27, 2016

    No inside information, just my opinion – most probable by far is that they are introducing 2x or 3x spend categories on the platinum card. i think this is the area where Amex Plat gets most negative attention, and one that wouldn’t be too costly to fix (they’ve got to figure the cost of doling out extra points gets somewhat offset by more people spending on the card). 2nd, more remote possibility – some sort of bonus when redeeming points for travel. 3rd – Amex increases the Plat’s travel reimbursement to $300/yr. but my money is on option #1 only,

    • Miles September 27, 2016

      Hey Steve – thanks for your thoughts!

      • Steve September 27, 2016

        thank for writing the blog! i enjoy it. i think we’ve got to keep in mind that this card remains the preferred card of America’s old money, and by that i mean people who are way over the spending threshold for the Centurion card but A) don’t want to pay the Centurion’s big fees, or B) have it, but still spend on the Plat because they don’t like to flash the C in day-to-day life. so, i think that puts Amex in a unique spot where it has to be sort of conservative with its benefit enhancements. when you take a family spending $1m/year on the card and give them a 25% bonus when redeeming points, that’s an expense to Amex of $2500.

        • Miles September 27, 2016

          Thanks for reading Steve and for the insight!

  • Shaun September 27, 2016

    That they are opening a Centurion lounge at ORD!!!

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