Two New American Express Cards Released

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon May 16, 2011 10:08 pm

Hey Craig, in your situation - because you are a bigger spender - I would recommend staying with the old Blue Cash. You hardly spend any on department store and since gas and grocery are your two biggest categories, the 5% is clearly the way to go for you. For lighter spenders I would recommend otherwise but not for you.

The other disadvantage of upgrading is you would never be able to switch back to the old program. If you want to the Preferred for the 3% at department stores, you can always signup for the Preferred while keeping your original. But since your spending on department stores is only a few hundred it won't make sense to do that. Hope this helps.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred


craigm1
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Postby craigm1 » Mon May 16, 2011 10:16 pm

I figured with the $75 annual fee it would be wash, kind of offsets what I'm losing on the first $6500 plus kind of aggravated me that the lower tier went down to 1.0% vs 1.25 are you saying they have discontinued the original cash card for new accounts?

craigm
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
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US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

User avatar
Mogul of Pineapples
Centurion Member
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Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Mon May 16, 2011 10:32 pm

Yep it appears AmEx has discontinued the old program altogether for new accounts. I was shocked too at this. The change caught everyone totally off guard.

I would guess the old program was profitable for most accounts but for the small percentage that were heavy spenders, AmEx must have been bleeding money. Think of the small business owners out there that must have been milking the 5% on gas? Landscapers, snow removal, independent trucking and delivery services are all ones that come to mind that would have benefitted big time and cost American Express money.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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