Home Forums Hunting & Shooting Hunter's Campfire American Express Platinum Card: $685 annual fee

I did not get my edit in before you quoted. I did not mean to be argumentative.
You might not be selling inventory, and may be a service-oriented business. Therefore, what I intended to say was analysis of accepting credit cards from your customers and the ensuing charges is an analysis one has to make. The earlier, the better.
Yes, dropping CC acceptance can result in a loss of sales.
Yes, burying the CC fees in the cost can result in a loss of sales.
Accepting CC might result in more (read new) customers and an increase in sales.
But you may be operating comfortably with the current workload and existing customer base.
Continued success and enjoy your Holiday Season!

I kind of figured these platinum card holders had their own Learjet or flew on the company's private jet. Maybe that's the next level (or two) of Amex card above.

WTM, no worries. About 65% of my business is labor and 35% inventory sales. I've gotten myself to the point of picking and choosing what I want to do, don't care about ever getting any bigger at this point. For years it was mostly checks and cash, few C/C's, but not much, then it just exploded and got out of hand. I decided that I was gonna make it hard on them, not me. If they don't like it then they can find someone else. I've only had one major objection to it, he left. About 6 months later he came crawling back with checkbook in hand.

Does that $685 include Blow Jobs? Of course YOU have to give them.

Lots have been adding the CC fees to the bill around here. Mostly restaurants adding it even tho 99 9% of the people aren't using it as a CC but debit. I have to ask them to remove the surcharge as I'll be using my personal card as debit.

If y'alls business is bucking because of a 3% cc surcharge, you must be running tight margins. Keep up the good fight.

I spend $50-75k/month on average on my Platinum Business Card. I don't pay that much as an annual fee. They offered me an Amex Black Card a couple of years ago, and THAT had an eye watering fee. Probably worth it if you fly a lot for the benefits it offers, and for bragging rights I guess. Not for me though...

Not having to spend time with the "regulars" in an airport if you fly a lot is well worth the money that is the annual fee.

It's all the Bammers at the B'ham airport that irk the sheit out of me. 🤣

You figured wrong.

I have a Dollar General Credit Card for all my big purchases.

My KMart Credit Card expired...

Tks for the info all. Make sense for those who travel regularly.

While I’m sure there are exceptions I’m gonna figure the average person with a Platinum AmEx card already has enough savvy to know their way around financial matters.

Anybody can buy an education. Show me that second comma in your portfolio and now you have our attention.

Lol knowledge is worthless and being owned by a card is smart. Got it

If it doesn't work to your benefit, it doesn't work to your benefit. The day it doesn't work to my benefit it gets cancelled. Simple as that.

Weren't you the guy, 40 that was a store manager (no direct reports) getting a $300/year match to his 401k and working insurance sales a few months back? Looking for advice on something new?

I'm wondering how that turned out for you - given the financial prowess displayed in this thread.

Have seen a card used for $8k-$10k open bar to say “thank you” to a customer for a $6M project. Have seen an R&D VP use a card to buy a new vehicle for competitive tear down. Had a VP who used a card to pay for a $40k golf outing. For the folks who regularly need / use such a card, the $685 annual fee is like me throwing away a pop bottle with a five cent deposit on it. Not even a thought.

Knowledge isn’t worthless but an education doesn’t make you knowledgeable.
The world has a plethora of degreed individuals that don’t have enough sense to come in out of the rain.

I am an insurance agent and have been for 14 years. I work at Dunham's part time (managing just the hunting department, not the whole store) so my wife and I can have health insurance and partly as a hobby.

I described the $300 match thing that they offered, to point out how cheap the corporation is, not to reflect how I personally am preparing and investing for retirement. In fact I have nine people who work under me there, not zero.

Yes I did want advice on a different gig, as Dunham's was not treating employees very well. In the meantime I was offered- and accepted- a specialist job in a local agency.

I spend the rest of my work time in the insurance office. I have held a series six license and have taken many many finance classes.

Not sure why attempting to make me sound like a failure supports your argument that a cool card makes debt not as bad.

I also consider you one of the good guys here, open minded and intelligent. Am I wrong?

Cool card?? Why do you assume every body carries a balance??