Let's look at the brochure. The card is made of stainless steel. While that may be a novelty, it makes no difference to me.
Points are worth twice as much when redeemed for airfare. They point out that 25,000 points is all it takes to get a $500 ticket and that it takes 50,000 to get that same ticket on American Express. Fine. You can't go very far on $500 anyway and it does not begin to compete with the cards that give us American Airlines Aadvantage points where 40,000 points will get you a round trip to Europe. No bonus at all if you use your points for hotels or cash back.
They are offering 24-hour concierge service to assist with all of my "personal, business and travel needs". That's cool. I would have expected them to assist with my personal and business travel needs. I'm not sure whether they really want to assist me with every facet of my life or whether they just don't know where to place their commas.
They would also send me the "Members Only" - Black Card Magazine which would showcase the "finest in travel, fashion, transportation, technology, interior design and art". What!?! They've left out food! That's why I like Better Homes and Gardens. "Better" works for me.
I would be able to use my points toward the "finest accommodations". Of the few places they list as examples, the only one we're likely to use is Royal Caribbean. But we'd most likely be applying our points toward a full price fare. Why would I do that when I can get deeply discounted fares through a cruise agency? If I wanted to pay full price for a fare, I'd buy one with a work-related seminar included so I'd at least have a bit of a tax write off.
They're offering unlimited cash back. For every 15,000 points, I can have a $150 credit on my statement. I'm not sure what percentage American Express gives me but I suspect it is 1% - same as this. And that is automatic, it comes to $15 or $20 per month. I don't have to wait until I've accumulated 15,000 points.
Now, here's a benefit that actually has some appeal - Airport Lounge Access - unlimited visits to 350 lounges in 200 cities. We've often considered buying a membership. American's Admiral's Club is $500 per year for one of us, but both of us can use it as long as we're together. You get free snacks and drinks and they'll call you when it's time to board - you don't have to watch the gate or listen for announcements. We still haven't decided whether it's worth the $500. If you're traveling business or first, you can use the lounge anyway. So I'm not certain how valuable this would be to someone who is accustomed to"luxury without limits".
Then there's the VIP treatment you receive at over 3,000 hotels, resorts and villas. Or is that 545 hotels and resorts? Are the 520 small independent hotels included in the 545? Obviously there are people who are more challenged by math than I am so it is hard to say. But never mind that - what exactly is VIP treatment? They mention spa treatments. Does that mean they're free? They also mention complimentary breakfast, early check-in and late check-out. Many hotels include breakfast and most will offer early check-in and late check-out if you just ask. Perhaps I've been getting VIP treatment all along and just didn't know it.
Also, for being a loyal cardmember, I'll receive "Luxury Gifts" from some of the world's top brands. What could those be? A Hermes scarf in a color that matches nothing I have? Maybe a bottle of scotch that no one will drink? I would hope that at $690 I would get something better than the jar opener that the National Consumer Panel sent me.
Now, this is a plus. No foreign transaction fees! I have long held the opinion that they have a lot of nerve calling themselves "World Mastercard" when you incur a fee every time you use your card outside the United States. Even so, our foreign transaction fees never amount to even $100 per year - and we go to England or Europe several times per year. And this specifically states that this exemption is for purchases made while traveling abroad. So I might still incur a foreign transaction fee if I order flowers for my mother-in-law from the comfort of my own home.
This card offers zero liability for unauthorized purchases. How is this different from other cards?
This card will replace, repair, or reimburse up to $500 per claim for eligible items within the first 90 days. Whether this is a benefit or not depends on the definition of "eligible items." And I think American Express does the same thing.
And last but not least, they will reimburse you up to $100 per day for three days for the purchase of "essential" items in the event of a baggage delay. I'm going to assume that clothes are not essential items because you might not be able to get what you need for $100. If you're at the beach, perhaps. If you're in New York, London or Paris, probably not.
Perhaps luxury does have some limits after all.
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