American Express Suspended My Centurion Black Card and Amex Platinum Card

[@ducksauce6679]

5k fee while suspended? The audacity.

[@SimonKatzShow]

It’s incredible 😂🤐😜

[@Th33Vultur3]

It also definitely hurt that all this happened as you were approaching the end of your membership year going into the next with the annual fee posting

[@seanjones4561]

Because of the inconvenience, they should've waived the membership fee or discounted it, especially if you're a black card holder.

[@SimonKatzShow]

I wish!

[@seanjones4561]

@@SimonKatzShow 🤦‍♂

[@Adiscretefirm]

$5K for one day of inconvenience? That's pretty steep for goodwill.

[@nsbioy]

@@Adiscretefirmthis seems fair in this case, actually

[@luxurycardstore]

FYI It says no "PRESET" spending limit. It doesn't say "NO LIMIT - AT ALL- EVER". It's a stupid marketing gimmick. No "PRESET" spending limit just means "We will let you spend until you make us nervous" I just got the Amex Gold, and it said no preset spending limit too, but in the fine print it said my "Pay Over Time Limit" is $15,000. I just assume that is the same limit amount for my NO PRESET LIMIT too, that way I don't make them nervous by spending too much all at once. HOWEVER- I tend to agree with you about the $5k AF for the Black card. You would think they would at least make a courtesy call to warn you. I thought one of the reasons to pay the $5k was to ensure special treatment - like when you leave a big tip at a restaurant that you are a regular at. Apparently the $5k AF doesn't get you anything more than what us "peasants" get HA HA LOL!

[@thetechlibrarian]

To me this speaks more about the state of the economy and what companies are fearing than anything personal.

[@nubianpwr]

You get boss points for this one Simon👍🏾 I had the same thing happen to me on the Platinum (for 1 day) and it was degrading & disappointing, especially since I maintain 0 balances on all my accounts every mth. I can only imagine how it felt being a Black card member🤨 After that, I realized that I could "never" be all-in with Amex. I maintain a visa infinite account with Chase and several other accounts with different banks. They simply over-reacted, based on your status. There cards are great, but this was wrong... I know😎

[@suitcafe]

These cards all have limits. They are based on your own spending patterns. AX may have thought you were getting a bit over extended based on balances across all your AX cards. Before a large purchase, call them and tell them what you will be spending. Or call before travel. You will have no issues.

[@jon-mackenziethompson9830]

Your absolutely right, financial institutions are jumpy and limiting their risk.

[@marksmith4512]

Capital one just reduced my credit limit to 10K with no balance and all payments made on-time with a 810 fico score, No other debt, Be careful with Capital ONE

[@dietrich88]

As an $AXP investor I am disappointed. They should treat long time customers better. They must be really scared about the coming recession.

[@SimonKatzShow]

Specially a Centurion one.

[@CallMeUbba]

They’ve been doing it for at least a year. You should be happy as an investor since they’re trying to limit their exposure as much as possible. Last recession they had tons of people run up their balances and bk

[@benzo767]

Does American Express Co. see that you own investments?

[@eddyluxe]

Centurion definitely should have contacted you first to hear your side. I recommend Chase credit cards as a backup as many of their transfer partners overlap with Amex. I personally prefer Chase points because I like redeeming for Hyatt stays. Amex is better for benefits and concierge service, but Chase is more user-friendly, in my experience.

[@Th33Vultur3]

It's not just that but also American express is not accepted everywhere. As long as he has at least a visa which he does with the JP Morgan card and the apple card has a mastercard he should be safe when he goes out and buy something on the credit card. I have 1 of each card network. It helped on an upcoming cruise as long as there no foreign transaction fee in February 2023. I have an American express in the green card, Discover it cash back And 2 Master cards in the apple card and tomo card and a Chase amazon Prime card which is a visa. So I'm covered.

[@lewis20002000]

It's like they forgot it was a "CENTURION CARD". They own you some type of monetary apology, like that $5000 fee, cancel unless you get that fee back.

[@irap1269]

Never happening. They are trying to pare back the number of Centurion Card holders.

[@Bee-n3h]

I saw that the email said there was a "Returned Payment" I thought that some people have actually had cards cancelled for that. Perhaps that was a red flag line for them?

[@balkatron1]

Simon, I enjoy your content. I've been an Amex member for 20+ years and they can be a bit temperamental at times. I do run the majority of my spend through Capital One because I always know where I stand. I've also started seeing similar Amex messages that you discuss in your video. Amex does have the best travel portal so I stick with them. But your make very good points.

[@SimonKatzShow]

Ive been a member a long time as well. Going to look at some other cards for alternatives. Thanks for supporting the channel.

[@michaelbuzby]

Had this happen when I had a relative need immediate in home care that was out of pocket. This added about $30-40k month in spending for about a year until everything was resolved. They flagged my due to the same issue as yours, but just needed to show ability to pay and they lifted the hold. This was on Platinum Amex as AU. Not atypical.

[@oktfg]

My understanding is the limit isn’t fixed but discretionary based on exposure to the client - customers involved in real estate, small/medium business sectors are now perceived as inherently more risky by Amex as the economy slows. Having multiple cards doesn’t multiply the “credit limit” but splits between the various cards. The category of spend is considered over a rolling period. Constant High spending on apparel or hotel stays isn’t going to flag if you suddenly drop $20k at the spa. “Pushy Plats” in Centurion are also a thing. The slowing economy means more of them are getting snagged when the automated trips kick in

[@kevinManhattan]

Simon I say defintely wait to see what they have to say. Based on the look of it, you do love Amex. This time they dropped the ball. I get why they will be more cautious during these times, but at the centurion level, I would expect more. You still have 30 days to cancel, meaning you have time to think this over. If they don't make amends, and if this still bothers you, No reason to keep giving them your hard-earned money....let alone, 5K. NO Way. It's about treatment and respect.

[@detroitcashflowtv]

The capitol one Spark card reports to your personal credit report as well as your business credit report. Be careful with this card. Even though you pay of your balances every month. As I’m sure you already know if you don’t pay it by the statement close date the balance will report to the credit bureaus.

[@DatejustDanny]

J.P Morgan reserve ! Great benefits like the sapphire reserve and all the prestige!

[@katzenpapa]

Maybe they thought it was a fraudulent charge and this was their way of verifying it was you who bought the Rolex?

[@MOTM1234]

it has never ever, in the history of the company, been advertised as a "no limit" CC. But you already knew that.

[@Th33Vultur3]

Simon you might want to prepay your bills and pay them ahead of time , so it doesn't happen again. I've seen on videos that it helps. Even I knew no card is truly unlimited. Even when you're gonna make a big purchase, I wouldn't be surprised if American express wants you to verify that you have the money in your possession so that that way you can pay them back immediately as soon as posts.

[@michaelfafrak3532]

Hey Simon - I have had a black business centurion card since 1999 and no issues I also have more Amex cards than that one and no issues. I hope you get them resolved because they are really a great card. I use my cards for everything and carry high balances. Good luck.

[@WantedDead]

cap

[@SledgeIncTeam]

That's trash but. What if you lost your wallet and it wasn't you that was doing that spending. It was a 1 day suspension as a precaution. I've had Chase do it to me in the pass because I moved to another f state and was buying furniture and different things for the new house. I didn't even know that they sent me emails to verify that I made the purchases. I found out that my accounts were suspended when I went to get gas the next day and my card was declined.

[@mason-mp]

On the other hand, imagine if you had lost your wallet with all your cards and someone went on a holiday shopping spree while you were sleeping 😴

[@nsbioy]

I think you should ask them for some concession like waiving or halving a membership fee for a year as a token. At least they should offer you something of that sort

[@AG-mm9wn]

I heard this years ago. No preset limit still has a limit

[@thedufloth]

Sorry it happened to you Simon. As you said, maybe having so many business card with one company specially on the economic crisis we are facing right now, it is not a good idea. Try to get some other credit card with Chase maybe for your business. If you have a relationship with them you can get a pretty good credit limit for your business. I know that so many people like Amex (and I do too) but we need to have a balance between banks.

[@SimonKatzShow]

Thank you Maya! Will check Chase out.

[@PatrickDKing]

@@SimonKatzShow Please don't go with Chase. They have a tendency to randomly close accounts, especially checking accounts. There's a whole list on reddit of things that chase doesn't seem to like, example, unusual deposits, withdrawals to brokerages, big cash or check deposits, etc.,etc.

[@ChesterFoster]

My average spend on my Platinum card is 5k so I know for a fact if I’m about to make a huge purchase I would have to call Amex first and get it approved before buying something super expensive. Also my pay over time limit is 35k according to the app so that’s probably my spending limit as well. I only use the platinum as a coupon book 📖

[@drrob001]

This is absolutely crazy!!! And you were charged the $5K annual fee? Id drop the Centurion card, Definitely get the Venture X.

[@SimonKatzShow]

Punch in the gut. lol

[@KCBOSS-j9s]

This happened to me yesterday, I was so angry I cancelled both my platinum and Gold card. And they always try and patronize you and say we’re so sorry smh go and pound sand cancel my cards now. The only thing special about American Express is their metal Cards that’s it

[@keithss67]

Ummmmmm so you start getting text messages from American Express saying your next charge might be declined, and you didn’t call them? Why did you wait till something was actually declined?

[@Th33Vultur3]

Basically you reach your spending limit. Since they don't tell you and you have to check it yourself, it's a risk we take an even me with the Amex green card. My green card is also the US version that I'm paying $150 annual fee and it says the same thing, no preset spending limit.

[@Packerm87]

I use to work in bank disputes, and based on what you said, it sounds like AMEX wanted to make sure it was you. They wanna look like an elite company so they didn't want to admit to anything and quietly unsuspended everything. sense you are centurion member amex should have called you about it. As an alternative I would look at Captial One, I never had an issue with capital one. spark business credit is really good for businesses.

[@mason-mp]

Mr. Katz! So, what's the follow-up on this from AmEx Centurion? Interested in hearing your after thoughts of this situation. Thanks, sir.

[@lincolnjd1]

Same thing happened to me and I’ve been a member since 87. Spoke to everyone I could to no avail. They simply don’t care and that hurt big time. They are not loyal so I moved my business elsewhere. Very disappointing. I now call them the “fair weather card”

[@kevinvu227]

Ran into the same issue, I have to make monthly pay down once I get close to my 6 month average. The Capital One Spark card is nice, 2% cash back with 100k limit, you can ask for more but it requires a review. I cancelled the Centurion card since I can’t get the 5k yearly value on the card and kept my Platinum Amex as my main Amex card.

[@jasonf3963]

Interesting story. Similar thing happened to me on the Amex Pl. Both times I was at Cartier and Rolex😂 card declined. At least your charge went through. There are definitely better lifestyle advisory services that give more benefits than Amex. Your JP Morgan card probably has a good variety of services and concierge too.

[@lucas182512]

Let the GOAT play bro 🤣

[@jessehatcher2767]

How long have you had the Centurion card? If you cancel, will it mess up your average age of accounts? I thought the purpose of this card was to put HEAVY SPEND on it….. then you get penalized and card shut down when you do?? Time to weigh the pros n cons of this card.

[@SimonKatzShow]

It may! But I have an 800 score so I am ok!

[@randymarch2232]

I’d insist on a year of your membership being covered by Amex

[@SimonKatzShow]

Exclamation ‼️

[@gilmendoza8092]

Wow can’t imagine going to a store and having my Amex declined.. lol “flex” gone wrong

[@SimonKatzShow]

Imagine if I was on a DATE HAHAHAH

[@coldpizzawatchreviews]

I bought a Rolex at $8,300 on my Hilton Amex with a $16k limit last year no problem

[@OakandIV]

Wow! Nightmare fuel! I hope you demand a massive retention offer! I think my most expensive month was $50k or so around 2018. I was traveling outside of the USA. I’d have panicked if Amex had cut me off before I got home. I keep a Chase Sapphire Reserve when traveling outside of the USA just in case I run into someplace that won’t take Amex. The limit isn’t spectacular, but if worse came to worse, it could settle a hotel bill and pay for a trip home. This makes me feel like I should grab a couple more non-Amex backup cards. Looking forward to your Capital One review.

[@wanem1622]

Hi Simon, you are right, they shouldn't be treating a Centurion Cardmember like that, and to be fair they shouldn't be treating ANY of their cardmembers like that especially since there are better ways of protecting themselves against risk in these uncertain times without damaging the American Express brand in the eyes of their cardmembers. Then again you understand their reasons,( with US and global economics as it is right now). You know exactly what they mean when they say/advertise 'no preset limit'. And you understand how they operate, (with random shutdowns, FRs, clawbacks, pop-ups, declining service levels etc). Your experience was not good AT ALL, but in all honesty, 'par for the course' for Amex right now. I think, your Centurion Rep let you down. They should have private alerts on your card accounts and know what the bank's current risk tolerance is at the moment as this is a moving range for banks and Amex in particular. Your rep should push that you are called and advised that your account has been limited because of high spend, and that you should pay down your balance to restore it or something like that. That way you are hearing it directly from your Amex account manager and you can then select an option that suits you, and also satisfies Amex. That way Amex can better manage their risk, and you are not stressed and left with a bad taste from such a premium service. That personal touch in this circumstance would ultimately reinforce the personal relationship with Amex rather than diminish it. Finally, I don't think it makes any sense to cancel your cards just because you wouldn't want them to take them away from you. The end result will be the same. And you really aren't doing anything that would make them take it away from you so why bother. If they have compelled you to feel this way about their card/service then it's their loss. I don't think it's going to change anytime soon though, their systems are just programmed poorly with random limits and averages that do not adequately reflect the individual cardmember. (Amexs' internal algorithms seem to be currently set to 'extreme self-preservation' with 'extreme prejudice' and they don't know how to make it better, or don't care. IMHO) So keep the card IMO (but put that negative experience behind you, it's on them to make it right) and if they treat you like a 'number', not a "cardmember" then you treat them like just a 'tool' and not a trusted financial partner. And when something interesting comes up from another provider you make an emotionless decision and keep it moving mate. 😀

[@SeanNYC914]

They advertise no “pre-set” spending limit.

[@Cyb3rR0]

I’m a new platinum card member as of last month which is my first AmEx card. I spent $1500 on a couple flights and they started sending me emails saying I’m almost at my limit. I called customer service and spoke to a few reps. It’s actually a new algorithm. They obviously need to tweak it some more.

[@FJF2007]

Very annoying that you had to go through this. I did read the email you posted & they also said it was a returned payment in August. I’m guessing that played a big part in the high alert by them as to my knowledge, a lot of ppl get hit w “financial reviews” after that. Hoping AMEX does right by you going forward.

[@Optioning]

do you have any AMEX cards with a defined limit? curious if they suspend that too or just the "no limit" cards But yeah, that is why I like to keep different types of cards, AMEX, Visa, Mastercard. All with high limits. Curious whats the highest defined limit you ever got on a credit card? I think someone with your type of credit profile could get $100K+ limits which would be insane

[@ThirdCoastGems]

It's an inconvenience, that's all. They explained why. It probably won't happen again. No sure while your so surprised, LOTS of fraud these days, ESPECIALLY with "luxury" purchases.

[@masadate86]

I love Amex but also good to have a backup..especially when you travel to places that don't accept them

[@73ocampo]

WOW Great information, how about that annual fee! Thank you for the video.

[@natebroaddus9604]

$5k annual fee for arguably the "most exclusive" credit card deserves a phone call from Amex rather than suspending all of your accounts. I don't personally have that card I currently have the Schwab Platinum, but I would be upset if they suspended me for spending more than my average since these are "no limit" cards.

[@KevinnPOV]

i’m shocked by that renewal fee while acct suspension haha😂

[@SimonKatzShow]

Facts. They wild for that one

[@keithss67]

I’m already thinking of getting rid of my platinum card. The 650 annual fee seems to be not worth it at this point.

[@SatoshiHODL]

Oh snap, not YOU Simon! Amex is trippin man

[@SimonKatzShow]

Out of control lol

[@budgiethebirdiebreadkiller4300]

I m shocked! I just got Amex Platinum business card despite of fact it’s high membership cost. I wanted for the best service. This panic service level is humiliating, this is good to know. Thanks for sharing.

[@viksra]

Charge cards, not credit cards.

[@Bruce.Hemsworth]

They don’t advertise their cards as “no limit”, rather “no pre-set limit”. There’s a difference.

[@SimonKatzShow]

Centurion does not have a preset spending limit

[@Bruce.Hemsworth]

@@SimonKatzShow - The UK version does. I can tell you that with absolute certainty. Either way, it’s poor service in AEx’s part

[@Vab1ar1]

I’m a plat card holder. Member since 94, currently carrying a bal on purpose to see if they suspend me. Keep you posted.

[@NguyenTran-eq2wg]

You should get the Capital One Venture X. It is one of the most well-rounded high-tier credit cards with flexible rewards earning structure.

[@mason-mp]

They shouldn't cancel all the cards on the account. Just on the card with maybe the highest balance -- to exclude the BLACK card. They need to waive your membership fees... I have the Platinum card, still hope to receive an invitation 🙏 for the Black card. I get if they monitor the Platinum and all cards below it via history of purchases... But the Centurion?!?

[@richardhart9204]

... happened to me a couple of weeks ago. The direct debit payment (autopay to you Americans) bounced on my gold business card, and they suspended all four of the Amex cards I hold. I remedied, the situation and was told by one of their customer service people that yes, they will and do suspend all of your cards even if there is a problem with only one.

[@blancoisaacsantiagoalonso9851]

Almost any unsecured card from Capital One will be very great and if not any backup cards you can have is a Citibank card since they are very great also.

[@GIbiapina]

You are the best, Simon! Great video! A big alert to all of us! Tks! 👍🏻👊🏻

[@rayshawnbedell8112]

I mean I don’t think you want to cancel it bro lol, but not for nothing a lot of those high net worth individuals are losing tons of money and maybe some of them already tried some shady stuff idk lol

[@SimonKatzShow]

I dont think it was personal. They probably have algorithms to prevent issues and they are automated. I think when a warning like that happens, they should let Centurion Account managers know firstly to reach out. That would have been nice. Even for platinum too.

[@SimonKatzShow]

Was Amex Suspending my account justified without warning?

[@aaronlee4913]

That’s why every time I make a huge transaction then I pay them back right away before my next statement arrives.

[@richardhart9204]

No, nope, and naaaah.

[@luxurycardstore]

Yes, they have the right to suspend you, but a courtesy call to warn you might have been appropriate.

[@richardhart9204]

@@aaronlee4913 ... also had a similar experience with eBay recently. They suddenly banned the sale of an item that was the mainstay of my business, and without warning, forever closed two of my three accounts. Luckily, I was able to remove those items from my remaining account before they closed it.

[@michaelmikhail2854]

No, that is not acceptable from Amex

[@ron_aparicio]

I remember that happen to me once around Christmas time on my platinum card and it was very annoying

[@Earley_World]

Keep it for the lounges maybe, but they did the same thing to me, so frustrating

[@NYC993]

Simon don’t downgrade to a Capital one card 😂

[@tonybenzo3951]

Get rid of it!! Too much hassle for paying 5k membership.. I have the gold/platinum and I don’t have issues since 2003

[@pepepingu9842]

How does one go about getting a Black Card? I’ve had the Platinum for for a very long time and a member for decades. Mid to high 6 figures yearly, but Probably over a $Mil this year. I was told it was by invitation only, and I really thought you had to spend like $250k a month.

[@SimonKatzShow]

I got a video out on that topic

[@scottnglsh]

They just suspended all of my cards as well. Took about a week to get them all back.

[@Lorenzo-oi1le]

I been with American Express for decades! They saved my life at least twice. But sometimes they do some really weird things. I think it’s the AI or some type technical issues. I always pay them off as I never mess with them. Now I want to move over to the business cards. I am on my way to 1M miles with American Airlines… Does anyone have any suggestions!

[@MiKe_eKiM]

I remember first signing up for an amex card. I heard they take your take your income when they ask seriously. I heard if you put over 85K annual they will ask for proof, so I put 70k even though I didn't make 70k and they approved it.

[@curmudgeonextraordinaire1884]

Incorrect. I make over 100K and they never asked me for income verification when I applied.

[@MiKe_eKiM]

@@curmudgeonextraordinaire1884 oh okay then. Just saw a lot of KZbin videos that talk about it so I got scared and didn’t want to risk it. For the Apple Card I put 180k 🤣 and got approved for 10k

[@wanderingdoc5075]

I put $276K for my income. Amex nor anyone else ever asked for proof

[@thebeddoctor4273]

Let us know if you get approved for the capital one card. I consistently get declined by them with an 804 average credit.

[@usercreated]

I think they should call you, but I think that they are testing the waters and what to ensure you can pay in full at the drop of a hat.

[@Ragnar0321]

I think if you would straight up call and ask for a discount or a waiver for the fee they charged they should be able to do something for you. I personally wouldn’t leave them just for this like you said banks are scared with the whole situation going on also the rep did say in the past 6 month you never had made those big purchases.

[@MichaelWilliams-pi7yy]

I wouldn't cancel the card over this, though I would see what kind of offer they might give you for the inconvenience. Canceling the card now seems to much like Brady retiring at a low point.

[@SimonKatzShow]

Smart, let me play my cards right!

[@SledgeIncTeam]

100% agree

[@re-z8296]

Dont you have a jp morgan visa? Why do you need capital one!

[@SimonKatzShow]

I do not. I no longer bank wish Chase.

[@ant7158]

Bro You Should Do A Video about all The Credit Cards You have and if You Use Them I Think It Would Go Crazy For You on KZbin Think About It

[@suitcafe]

Dump all your platinum cards and keep the one centurion card. If you cancel the centurion you probably will not get it back for many years. Charge everything on the one card. You will have higher spend and AX will notice that.

[@oritsegbenanna1101]

I am no where near your spending... but I got the same email. I called to just as you did. They basically said it is no limit card, but the limit is a function of your credit real time and amount spend. So it is a play on words, that you don't have a preset limit. But, very much so - There is a limit. I personally have a Citi AAdvantage Credit Card and Capital One Quick Silver...

[@dressydress9726]

Cancel it! It’s an expensive lesson for AEX! Earning $5K a year from each customer, yet putting a centurion customer to shame because AEX clearly shows it treats such customer in the same way as a regular member, is not worth the $5K every year.

[@Jpuff4life]

You're the reason I got an AMEX card as my first credit card. I do see why they would have those restrictions for borrowers that would default but why a centurion cardholder? Especially the relationship you maintained for years. But I would say it is a good goal to get the card since it's almost untouchable. But live the content and information you give that's amazing.

[@adolfelassal]

Happened to me as well on my Centurion a few weeks ago but it was solved in a day

[@Msfili]

That was so inconvenient I’d be annoyed too

[@JustinkHoly]

Starting to think the Platinum Card is really the best option with a better point earn.

[@Mike305the]

Same thing happened to me on my gold card.They are just scared because of the economy.

[@SimonKatzShow]

Yeah lots weird things happening around the world.

[@Mike305the]

@@SimonKatzShow exactly.

[@velocity1231]

Why they gave big credit limit if they let the amount spend ? This credit card seems ridiculous. Bank should allow it .

[@jesuscorrea8911]

I’m getting those texts as well for the past 2 months , I thought it was only me , however, bad / rude on Amex part

[@williampinkett3829]

Have you called retention line to try to get the AF discounted?

[@WaleAnimashaun]

That's standard with any card regardless of limit. The activity was suspicious. They should have texted you though and being that this is a black card, they should have at least allowed the monthly expenses to go through.

[@yurig2530]

Cap One Spark Travel Elite has a 250k bonus right now, after spending $50k in 6 months. Chase Ink Premier card should have no limits, currently has $1k bonus after spending $10k in 3 months.

[@albertcastro409]

Do not get a credit card with crap one. Sorry, I meant Capital One. I have a Capital One Credit Card I make on-time payment and they lower my credit limit.

[@LingLing-yb9lb]

They are scared of not paying back 😅

[@reemsgoodies6875]

Same thing happened to me !!! That’s so weird I’m very confused!!

[@ganglittle8412]

Hi Simon, how r u? You should be on 100k subs by now come on peoples support Simon, his videos is amazing 👍 you gain so much information about Amex 😁…It’s so confuse about No limit 😁 one time I purchase something £1600 is fine.. other time I purchased £500 it got declined WTF

[@iahawki]

If everything you said is true dump the Centurion and recoup your annual fee. Keep the personal and or business Platinum for the lounge access and other multipliers and put your primary spend towards Chase and or the Venture X.

[@abendiaye3330]

Amex should've been professional and personally called you. As a Centurion member, you're paying for professional services and courtesies. I would be very disappointed. You may consider Chase. I primarily use Amex, but I have 2 backup cards with Chase and Discover. Amex can be pretty bogus sometimes.

[@koreyb]

"$50,000 is not a lot..." wow!