Should I Get the American Express Centurion Card?
Update: Some offers mentioned below are no longer available. View the current offers here.
TPG reader Ee Chien tweeted at me to ask about a targeted sign-up bonus offer from Amex:
"I got an offer from Amex for 180,000 points after spending $20,000 in 6 months on the Centurion card. There's a $4,000 sign-up fee and $4,000 annual fee. Should I get it?"
The Amex Centurion Card is considered by some to be the pinnacle of the credit card world. Its clandestine benefits and exclusive membership have made it almost legendary. However, just like with any other card, the decision of whether or not to sign up (if you're fortunate enough to be invited) comes down to comparing the cost with the value you expect to get from it.
Looking at the specific offer Ee Chien received, the large sign-up bonus stands out. After meeting the spending requirement (and including that $20,000 in spend), you'd have 200,000 Membership Rewards points, which is worth $3,800 based on my latest monthly valuations. That's a lot, but it doesn't make up for the $8,000 you'll spend on the annual fee and initiation fee. You'd still need to find another $4,200 of value just to break even in your first year.
That's certainly possible; the card offers high-end benefits like Hilton Honors Diamond and Delta Platinum Medallion status, the 24/7 Centurion Concierge and WOW promotions like a free night at a luxury hotel. There's a plethora of other useful benefits (like SPG Gold status, a $200 airline fee credit and more), but many of those are also available on the much more affordable The Platinum Card® from American Express.
Another consideration is the opportunity cost of actually using the Centurion Card to make purchases. Cardholders are expected to maintain a high level of spending ($250,000 annually), but the card doesn't offer bonus categories, so you'll be earning just one point per dollar. You could do worse than earning Membership Rewards points at that rate, but you could certainly do a lot better.
If you're in a position to maximize the Centurion Card benefits, then I think getting it could make sense. I recommend doing some more research and thinking carefully about how likely you are to use them based on your travel and spending patterns. The sign-up bonus is impressive, but it shouldn't be the deciding factor, since it doesn't make up for the high membership fees. Some people also prize the Centurion Card as a status symbol, but you'll have to decide what that's worth to you individually, if anything.
I think the Platinum Card from American Express and The Business Platinum Card® from American Express provide better value for most people, and both cards have had targeted sign-up bonuses of 100,000 points or more in the past year. If you're looking for an entry into the Membership Rewards program, holding out for one of those offers is likely a better bet.
Check out these posts for more details on the Centurion Card, Platinum Card, and Membership Rewards:
- The Inside Scoop on the Amex Centurion Card
- Maximizing Benefits with the Amex Platinum Card
- Redeeming Membership Rewards for Maximum Value
- Choosing the Best American Express Card
If you have any other questions, please tweet me @thepointsguy, message me on Facebook or send me an email at info@thepointsguy.com.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.