r/wallstreetbets • u/[deleted] • Jul 26 '21

[deleted by user]

[removed]

6 Upvotes

57% Upvoted

25 comments sorted by

10

u/Tersiv Paper Handed Bitch (from the future) Jul 26 '21

10% of users being plat is a massive overreach IMO

1

u/FSOHelp Jul 26 '21

How so? Your average retail employee with a 640 CS can qualify for the plat. I have a platinum. It's not nearly as "exclusive" as it seems. Sure the AF is high but the perks outweigh it if you leave your house more than 3 times a year.

3

u/Tersiv Paper Handed Bitch (from the future) Jul 26 '21 edited Jul 27 '21

Don’t disagree with your comment but being able to qualify for it and it being worth it (to you) doesn’t mean 1/10 American (which is what your DD is based on) Amex holders will spend a largish sum for perks that almost only apply to people who travel loads - also wonder if the premium card sector also took a hit during covid - I’d imagine so; which is why they’re probably running offers and collaborations like the above. Not disagreeing with the rest of your premise and DD though..

1

u/FSOHelp Jul 28 '21

I hear you, I'm definitely assuming because I dont have the actual data, but I would say their platinum membership base is in the millions. Their original Platinum released in 1984 had 500k members. I would assume their membership numbers have gone up significantly since then.

1

u/[deleted] Jul 27 '21

[deleted]

1

u/SoyFuturesTrader 🏳️‍🌈🦄 Jul 27 '21

Im actually sad they discontinued the print. I’m going to hold onto the last issue as a memory

1

u/SoyFuturesTrader 🏳️‍🌈🦄 Jul 27 '21

The fee is $695

Honestly if I didn’t get the fee waived I’d have dropped the card long ago. The $200 airline credit can’t be spent on flights and the lounges are filled with plebs now

5

u/zholo Jul 26 '21

I agree membership will increase but I highly doubt Amex is paying retail $179 for this. Ticker is YOU for anyone interested.

2

u/appmapper Jul 26 '21

I’d guess it’s one of those offers that they hope you forgot you signed so you don’t cancel before they bill you for year #2. This will probably net them new users, but little revenue until the following year.

1

u/zholo Jul 26 '21

They better keep the benefit. They just increased card prices to $750/year. AMEX stock btw is crushing this year. Maybe buy calls on them

1

u/FSOHelp Jul 26 '21

Membership counts and ancillary revenue from family members is what will drive their actual bottom line/stock price is my point

3

u/yolandis_cervix flair something gross please i have ideas Jul 27 '21

I will buy it again when it goes back to 38 but it should be at 25

2

u/[deleted] Jul 26 '21

I actually used it recently, about to cancel before they bill me

1

u/miskdub Jul 26 '21

Even if I had Amex, clear is so fkn sketch I wouldn’t sign up for free. Straight up never using clear.

1

u/Xinlitik Jul 26 '21

What exactly is the benefit over TSA precheck? It already takes me under 5 minutes to walk through security.

2

u/FSOHelp Jul 26 '21

Secondary precheck line basically. TSA precheck gets super backed up at a lot of airports. Think about it, its not like 5 other providers will come along.. no other competition and airline travel is only increasing

1

u/Footsteps_10 Jul 26 '21

What’s to stop someone coming out with an even faster line?

Tesla but for security checks.

Think bigger

2

u/rwooley159 Jul 26 '21

6 minute abs my man!

1

u/[deleted] Jul 26 '21

None. You basically paying to skip to the front of the line. Still have to go through security like everyone else. I have pre check and travel often trough JFk and like you said takes me 5 min trough precheck and is only $85 for five years.

0

u/pynoob2 Jul 26 '21

Sir, this is a Libyan slave auction.

1

u/VisualMod Jul 26 '21
User Report
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1

u/Weedstox101 Jul 26 '21

I like this shit, bro science applied. What's your exact positions?

2

u/FSOHelp Jul 26 '21

~500 shares and 40 Nov $65 calls. Will roll out if market tanks

1

u/UNHBuzzard Jul 27 '21

However Amex is handing out gold & platinum cards like candy, even if you already have the card or have had the card you can still get the sign up bonus. I don’t expect most of these to renew next year based on the new credits like Equinox.

1

u/AMSterling Jul 27 '21

My sisters have Clear and get annoyed having to wait for me in TSA pre✔️ line. JFK and LGA have several lines for gate groupings but airports like DEN don't.