Watches of Switzerland x American Express

[Devildog]

Originally Posted by 77T

The initiation fee is $10K
The annual fee is only $5k

Well-worth it for high NW, high spend.


Sent from my iPhone using Tapatalk Pro

That’s cheap if it gets you a steel Daytona at retail


Sent from my iPhone using Tapatalk

[Rajjesh]

In event like these, they try to sell everything to you which is hard to sell (otherwise), and for sure Rolex at MSRP is not offered.

[BraveBold]

Originally Posted by dseig001

I run all my watches through my cards. I pay them off immediately but why not get the points?

Absolutely. Unless you’re getting a discount for paying cash, why on earth wouldn’t someone use their card and get points and additional benefits? Of course you don’t carry a balance that accrues interest…but I run everything through my card.

My card also doesn’t report any balance to credit bureau so it always shows 0% utilization. There is literally no downside to using it (absent a merchant actually discounting for use or cash… which is rare).

[walds11]

Originally Posted by Lawman77

Creates a real dilemma. Luxury items should never be bought on credit.

How so??? I don’t agree. Run the card, pay balance when due and collect the points.

[BraveBold]

Originally Posted by LJubel328

Vintage/used pieces from Analog Shift that are 30-40% above market is my guess



I have not used the Amex services often but friends who have speak very highly of it. Never had experience with a Reserve though.

To add context to this thread, I misread the article on my phone. I wasn't aware it was only Centurion - I do not have the black card so makes sense now why I was not made aware of the event.

I don’t have a Centurion but have friends who do. The concierge service offered on the JPM Reserve card used to be clearly superior in standard terms. I’d send a request to build a travel itinerary and they’d put a very comprehensive package together, including unique perks, within a few days and at zero cost. Or I could request assistance getting a reservation for a difficult to book restaurant and they’d solve the issue. It was impressive and sometimes amusing. The other perks line up similarly to the Centurion, with some marginally better and some marginally worse.

Haven’t used the service more recently but my perception is the quality of service has declined. So perhaps the Centurion is superior today. But my wife is the only Amex Platinum holder in my household and thankfully she doesn’t spend the $250k+ annually to secure a likely invite…

[BraveBold]

Originally Posted by Rajjesh

In event like these, they try to sell everything to you which is hard to sell (otherwise), and for sure Rolex at MSRP is not offered.

Yes, no real perk. The only thing I’ll say is that my AD has commented on my card when I’ve paid for watches in the past. The card is rare enough that they don’t see them often or at all. The intangible is their perception changes and you may be perceived as a -potential- big spender, even if you dress casually / not flashy and/or are a bit of a cheapskate ;-)

[Madman37]

I have 17 black Amex cards and the JP Morgan Ultra Ultra reserve card so will call them all up

[Maleg]

Originally Posted by BraveBold

Absolutely. Unless you’re getting a discount for paying cash, why on earth wouldn’t someone use their card and get points and additional benefits? Of course you don’t carry a balance that accrues interest…but I run everything through my card.

My card also doesn’t report any balance to credit bureau so it always shows 0% utilization. There is literally no downside to using it (absent a merchant actually discounting for use or cash… which is rare).

Originally Posted by walds11

How so??? I don’t agree. Run the card, pay balance when due and collect the points.

I don’t want to speak for the gent, but I think he means one shouldn’t carry a long term balance on a credit card to buy a luxury item. That is what buying on credit means to me, not simply using the card as a payment device to avoid carrying cash.

[BraveBold]

Originally Posted by Maleg

I don’t want to speak for the gent, but I think he means one shouldn’t carry a long term balance on a credit card to buy a luxury item. That is what buying on credit means to me, not simply using the card as a payment device to avoid carrying cash.

But that wasn’t part of this thread. It was about credit card perks.

I agree that carrying a credit card balance to pay for luxury items is crazy… but that wasn’t raised here at all.

[StylinProfilin]

Anyone go?

If i knew earlier in the day i would have gone

[77T]

AMEX raised guidance - fascinating how WoS deal amp’d up the outlook


Sent from my iPhone using Tapatalk Pro

[Oystersteel92]

Originally Posted by BraveBold

Absolutely. Unless you’re getting a discount for paying cash, why on earth wouldn’t someone use their card and get points and additional benefits? Of course you don’t carry a balance that accrues interest…but I run everything through my card.

My card also doesn’t report any balance to credit bureau so it always shows 0% utilization. There is literally no downside to using it (absent a merchant actually discounting for use or cash… which is rare).

That seems like an incredible hassle, but then I don't give two $hits about my utilization. Score go up a few points, score go down a few points, I'm not looking to buy a house every day, and my score was ONLY 767 when I bought my house and I still got a prime rate. I feel like once it's above 750 and you have assets/income to back it, you're golden.

Still, all this talk of credit cards is making me want to level up and buy a watch. Spring is annual bonus and stock vesting time in my neck of the woods. Gonna be hard to resist, it's been a great year.

[BraveBold]

Originally Posted by Oystersteel92

That seems like an incredible hassle, but then I don't give two $hits about my utilization. Score go up a few points, score go down a few points, I'm not looking to buy a house every day, and my score was ONLY 767 when I bought my house and I still got a prime rate. I feel like once it's above 750 and you have assets/income to back it, you're golden.

Still, all this talk of credit cards is making me want to level up and buy a watch. Spring is annual bonus and stock vesting time in my neck of the woods. Gonna be hard to resist, it's been a great year.

Where is the hassle? The card just doesn’t report any balance data to credit bureau. It shows a big zero for utilization…

What am I missing?

[enjoythemusic]

Originally Posted by 77T

AMEX raised guidance - fascinating how WoS deal amp’d up the outlook

When asked, AmEx said there's no correlation and their outlook is based on carefully considered evidence based on historical data and future potential.

Ok, you caught me Paul. AmEx didn't say that. I don't think conflict of interest, sponsored YouTube advertorials, or even basic financial ethics matter nowadays. Play on playa

---
---

My ex many years ago had a Black Card and others... you can have a lot of fun if you work their system of benefits (back then).

[77T]

Look at all Luxe goods equities rising.
Amex payment in a retail location shall rise as well.


Sent from my iPhone using Tapatalk Pro

[Jack T]

A little bit of flexing going on?

[LJubel328]

Originally Posted by Jack T

A little bit of flexing going on?

How so?


Sent from my iPhone using Tapatalk

[RobbyCcell]

Originally Posted by BraveBold

But that wasn’t part of this thread. It was about credit card perks.

I agree that carrying a credit card balance to pay for luxury items is crazy… but that wasn’t raised here at all.

Noting for the op, the Amex Centurion and Platinum cards are charge cards so you have to pay it off every month. You’re not carrying debt at least on the card.

[Daytonaman799]

Originally Posted by Topspin14m

Amex Centurion = Black card. Hardest card in the world to get. JP Morgan Reserve is tough but I am pretty sure Black card is harder, no? EDIT: I guess it depends as the Reserve requires $10mm in AUM. But I think Black card they take into account things like -- are you famous?

I have both and they are about the same. I use the Amex more out of habit. Supposedly the JPM is better for travel but I tend to use the Amex more and the jpm for when they don’t take Amex.

[Marcjvr]

I have a card that charges me $99 a year and I phone and complain about that fee every year

[Marcjvr]

Originally Posted by Madman37

I have 17 black Amex cards and the JP Morgan Ultra Ultra reserve card so will call them all up

Only 17 and not even the 3xUltra card…how do you show your face in public

[rick lee]

Former Amex employee here. We got calls every day (usually from dentists) threatening to take all their vendor spend to Chase if they didn't get a Centurion Card invite. We had no power to do anything here and the criteria for that card is like the recipe for Coke. No one really knows. I had one customer who had a black card and he was an exotic car dealer, even had a few Porsche 959s on his site. But plenty of customers spent more and were never getting better than a Business Plat. card. I later worked for a guy who had a black card and most of his spend was fuel for his jet, in the six figures per month. But then he'd rent a car and personally drive each of us to different hotels to check us in, so he could get the various rewards and points on different cards. I had to respect that. LOL.

[Zach69SS]

After a few years of paying the $10K Amex Black card fee you can buy another Rolex. Maybe by then you will next on the waiting list?

[rick lee]

$10k is only the initiation fee and people would line up, fight and bid to pay it. I'm not one of them, but I've seen it. They could charge anything for it and that would make people only want it more.

[7sins]

As someone who has a Centurion, it is $10k initiation and $5k annual fee. If you use the majority of the perks, they cover the cost of the annual fee. Also Centurion travel gets better deals and pricing than platinum, plus 20% points back when you buy with points. Wouldn't say it is everything it's cracked up to be. Haven't seen any collaboration with WoS.