Amex Platinum Cardholders Make HOW MUCH?! 😲

i think you'd be surprised how much more money you could make if you were willing to live in certain cities today we're going to look at the average income and also net worth of people who have the platinum and centurion card look at what it means and also what i think about all of this before that though big favor give this a thumbs up it surprisingly does help with the algorithm which blows my mind sometimes and if you are someone new here and you like stuff like this then consider subscribing american express has a magazine called departures that's sent to platinum and some terrain car members it used to be physical and i believe it's now fully moved online with magazines one thing they need to do is to sell ad space and in order to do that they have to pretty much market their audience so when buying a tag or a sega watch is very different than someone buying a vacheron in the past we had some blended numbers so we knew that there were 1.3 million combined users for both platinum centurion and average income was about 741 000 monkey miles found a new media kit that has platinum specific information average net worth is 4.3 million average household income is 474 000 average age is 56 and number of properties owned is 3.6 lucky from one mile at a time took some numbers down for the centurion magazine before they took that site down side note please share this video with people because i might need to take this down for centurion card members the average net worth is 11.4 million household income is 1.8 million average age is 57 and number of properties owned is six so a few things off the bat these are averages which can be pretty skewed compared to medians if a hundred of us were in a room of bill gates the average net worth of a person in that room is still a billion at the same time i think it'd be pretty weird to say that the average person there is a billionaire another factor is that these are numbers from the magazine versus american express directly in my head at least the person filling out surveys for magazines probably have a bit more time i very much think about someone who's running a more established small business compared to someone who's still on the grind if we take this at face value though what does it mean for us i think denby from lucky's comments made a pretty good point we are a small minority of platinum courtholders and the changes that they make are generally not targeted at us amex is fine with us they tolerate us but we're not their target audience as much as the youtube comments like to complain about annual fees increasing and how the card is becoming more of a couponing book i think their core users don't really care if anything since they did the annual fee increase and all those other credits signups have actually dramatically increased there's a ton of people out there who pay for equinox but who didn't really consider this card until they added it as a credit if you are considering the platinum card please make sure that it makes sense for you we have a calculator on our site that goes through a lot of these credits pretty much to make sure that benefits and perks outweigh the annual fee if you're new to american express check card match to see if you have an elevated offer if you do want to learn more about cards whether it's the platinum card or other cards out there we do have links on the website asksevie.com and also down below in the description box make sure they're competitive but otherwise it's a huge way to support the channel so thank you guys in advance similar to the comments about how the centurion lounge is changing guesting rules and how that's pretty negative and how that's going to destroy the brand i've had people privately come to me and tell me that they actually want the annual fee to go up to 1500 or 2000 and that they're very happy of these changes their view is that they want to get rid of the riffraff not realizing that i'm the riffraff sir can you please stop shoveling food down your throat i've said this before but i actually think that the credits are good for us as optimizers if you go back five years the card had a 450 annual fee and you had a 200 credit meaning that you were paying 250 out of pocket so pretty much 250 for centurion and delta sky club access then they ended up updating it with some lifestyle stuff for uber and zach's so 550 annual fee 500 credits and then down to a 50 effective annual fee right now ironically the iteration that a lot of you hate is 695 but you have fourteen hundred dollars in credits i think for us as optimizers our brain melts a little bit when we can't use every single credit we rightfully don't wanna leave money on the table and instead of focusing on all the credits that we can use and how maybe we are coming out ahead we focus on the two three four hundred dollars of the ones that we hate and can't use for me at least as long as the credits cover the annual fee that's all i really want because i'm using the card for lounge access just because you make good money doesn't mean that you're not looking for a good deal on that note this video is sponsored by comments here comment here is a completely new way of making coffee it's the only 100 brewed coffee that's flash frozen to lock in freshness they send monthly shipments from a variety of incredible roasters pretty much to all stars of the specialty coffee space and this ranges from counter culture to new partner onyx who's won a ton of awards they ship you the capsules in dry ice and you put them into the freezer and you can enjoy it either hot or cold for hot i put the capsule under warm water for five seconds in order to loosen it up and then just put it into a cup and pour in hot water for cold i defrost it and then pour it into a cup of ice i've been drinking coffee since i was 12 and this is some of the best tasting coffee out there it's smooth and you can actually taste the nuances instead of that burns flavor that's 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4x mr points membership reward points that's going to be 240 000 points per year well if you cash out those points through schwab at 1.1 cents per point that's about 2 640 the problem is that it can kind of start to feel like picking up pennies and yes i realize how crazy that sounds especially if you live in a lower cost of living area let's say your household income is five hundred thousand dollars your take home is about three hundred and twenty seven thousand for a lot of people you're probably spending twenty five to fifty percent on rent food and fun probably zero to 25 percent a more speculative investments whether that's angel investing in startups flipping jpegs or maybe trying to start a small business let's say you end up saving half of that take home so 165k you're now trying to convince someone who's saving 165k that two thousand six hundred dollars is worth wasting brain cells on it's not not money because that'd be ridiculous but it's only about one point six percent of what they save every year on the flip side though if you market those two hundred and forty thousand points not as just twenty six hundred 600 but as two first-class round-trip tickets from the u.s to japan the retail price for that is 18 to 22 thousand dollars as stupid as that sounds that becomes a lot more interesting now for a lot of these people they're spending five thousand to thirty thousand dollars on travel every year anyways but they're still flying economy or maybe economy plus this is a way for them to upgrade that flight and probably make player 2 happy just because you make enough money to afford spending 20 000 per person on a flight doesn't mean that you necessarily want to are that it feels comfortable well if that's the case how are you spending 60 thousand dollars on food that's ridiculous yes but it's also a lot easier to stomach 83 a day per person 83 times 2 times 365 is 60 000 that's pretty much if you went out to eat for all your meals 20 probably 20 and 40. for a lot of people it only clicks when you talk about the aspirational yolo stuff the maldives is another good example twenty five hundred dollars per night and ten thousand dollars for four nights or you and your player two can both sign up for two different cards so the bond void boundless and let's say the bon voy brilliant and that covers the trip or at least the hotel portion of that trip which is the expensive part and it's pretty easy to justify because you're just running rent payments through or your other dining expenses okay so what are my thoughts on this i'm surprised but also not surprised net worth of 4.3 million dollars for platinum card holders feels a little bit high but also kind of expected it just feels like a lot 3.6 homes definitely feels very high but it's also because most people i know are still renting and maybe one or two of them are doing the rental thing where they're buying up properties in texas just to rent it out to people most people though don't own a home and i feel like they're paying 3 to 4k in rent it makes sense but i figured that lower cost of living areas would have pulled that number down a little bit i kind of expected the 200k range rationale being that 200k is doing pretty well in houston but it might be the starting salary in the bay area so for example if you're starting out at amazon nvidia or google it's about 200k to 300k depending on your background and skill set i think a lot of people would be surprised how much more money they could make if they decide to live in a different city i have a friend from texas who absolutely hates the idea of california but once he got an offer for three times the salary it just made a lot of sense if you're a dinky couple so dual income no kids yet and you're both professionals i think it's not abnormal to pull in close to a million let's say you're in your late twenties you have five to ten years of experience under your belt and we'll look at airbnb total comp is going to be in that 400k to 700k range depending on your expertise average age of 56 is throwing me off a lot i kind of expected something like 40. i don't know given their marketing i just don't imagine in my head a 56 year old it feels like they're marketing to late 20s and then once you kind of even it out it's in my head at least 40. funny enough even for you guys for the viewers the largest group is 26 to 34. i'm surprised that the next group is 35 to 44. i kind of thought it would be the sub 24 so the 18 to 24 range it's interesting too because when you think about the perks they're adding it feels like they are leaning more towards that younger audience i just don't see that many 56 year olds going to equinox at the same time i'm also probably in the weirdest bubble where there are more dogs than kids in san francisco and probably also more dogs and strollers moving to the centurion numbers i'm kind of surprised because they seem pretty reasonable when i think about the centurion card i'm always thinking crazy rich asians versus someone who owns a small business and is doing pretty well so putting them side to side household income is about four times as much net worth is about 2.65 interesting that the age is only one year different properties owned is about twice as much which doesn't surprise me because a lot of people do start to add in real estate to the portfolio later on it actually begs the question of whether it even makes sense to launch an optio card because why would you really have something in between i think it just devalues the whole brand so would you go after the person with a household income of a million dollars in net worth in the 10 mil range i get it i get how it would fit in but it just doesn't really make sense to me i think it would make it more confusing my guess which is probably very wrong but if they do something called the optio card i think it's going to be dramatically different than what we expect so people are thinking about it being a centurion like given the name obtio is basically the second in command i think it's going to be a card that targets a younger audience that is doing financially well so that 30 year old mark if you take it down to brass taxes american express yes is a financial services company but they're also kind of a marketing company when you look at the platinum card what are they really doing they're offering this whole payment rails but they're also just offering benefits and helping brands get more users they're probably getting those credits and perks for free or maybe 25 cents on the dollar and then just giving it to you so when you think about it who has the most expiring inventory i would say events could you imagine a card that gets you free access to these events i feel like a lot of people would happily pay 1500 for a car that got them into different events even if it's on a last minute basis if you're american express what makes more sense having a card that gets you maybe a 25 uber credit and a hundred dollar equinox and just a bit step up for all the platinum perks or something that's dramatically different that you can advertise to this new audience who maybe feels the platinum is too stuffy my guess is that events and these exclusive benefits are going to be the next battleground especially as we have more things open back up with the multipliers and then we had the lounges and these other exclusive benefits i think this is that next step let's wrap up the video because i'm going off on a super tangent if you are someone that wants to learn about cards whether fictional or existing ones and you want to support the channel consider using the links on the site asksabby.com and also down below in the description box my question for you is are you surprised by these numbers and if you are which one surprises you the most for me i think it has to be age i just expected a lot more 30 and 40 year olds that would have pulled the numbers down dramatically compared to 56 and 57. so what surprises you what doesn't surprise you and also if you were to create an optio card what would you do would it just be a centurion light or platinum plus or would it be dramatically different let me know and everyone else know in the comments down below if you're still here mention the word dog and i'll try to heart your comment a favor like the video subscribe if you're new here but otherwise hope you guys liked it see you guys next time it is 9 15 p.m and mandy is rushing me out to go to ramen [Music]

Channel: Ask Sebby

Views: 103,195

Keywords: ask sebby, asksebby, amex platinum benefits, american express, amex black card, amex black card benefits, amex centurion lounge, american express departures magazine, amex gold card, amex green card, luxury credit card, metal credit card, luxury travel, how much are amex points worth?, first class flights, real estate

Id: ZSocZ97OcHo

Length: 12min 24sec (744 seconds)

Published: Thu Mar 10 2022