American Express Tips?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
40 posts
JCarter
Centurion Member
Centurion Member
 
Posts: 323
Joined: Thu Mar 15, 2012 10:40 pm
Location: Virginia

Postby JCarter » Mon Apr 02, 2012 5:31 am

Philosophuer wrote:Great info, making me second guess my decision. I also heard of u call to cancel, they will waive the fee for another year


Incorrect. They will offer you MR points if you simply ask however.


UPS Gregg
Platinum Member
Platinum Member
 
Posts: 86
Joined: Sun Jan 01, 2012 4:14 pm
Location: Tennessee

Postby UPS Gregg » Tue Apr 03, 2012 12:07 pm

Philosophuer wrote:Great info, making me second guess my decision. I also heard of u call to cancel, they will waive the fee for another year


Don't do it. Hook line and sinker! LOL! Cancelling mine was the best credit card decision I ever made. It's nice knowing that all the points I'm racking up on my USAA cards won't be affected by some lame annual fee.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

Philosophuer
Gold Member
Gold Member
 
Posts: 35
Joined: Tue Mar 27, 2012 12:59 pm
Location: New jersey

Postby Philosophuer » Tue Apr 03, 2012 9:07 pm

is there any upside to having this premier card? everyone seems to hate it

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Tue Apr 03, 2012 9:47 pm

Yes there's no interest because you pay your bill in full. However after the first year there's a 175.00 annual fee. Keep in mind that a lot of executives and business travelers have this card..

Don't forget that you get Gold Card events. So at your local arena if there are concerts that are coming to town, you get first choice before they go on sale to the public for some.

3x the points on airfare. So if you take 1 business trip and you go away on vacation, your points will add up.
If you use credit cards at the grocery store, you get 2x the points.

Philosophuer
Gold Member
Gold Member
 
Posts: 35
Joined: Tue Mar 27, 2012 12:59 pm
Location: New jersey

Postby Philosophuer » Wed Apr 04, 2012 3:24 am

So there is advantages. I look at it as a membership fee. I pay more than that a year for my gym , hell, I pay more than that a year in Starbucks. Just the cost of business. Roadside assistance is $200 value, early seating, extended warranty (imagine what that cost on any item), 90 days purchase coverage, status symbol (responsible and part of a elite company), and NO INTEREST! So after considering all angles, it's a great card. It all depends how u look at the "fee"

bmw1990Z
Centurion Member
Centurion Member
 
Posts: 341
Joined: Sun Mar 18, 2012 10:08 am
Location: USA

Postby bmw1990Z » Wed Apr 04, 2012 11:45 am

Philosophuer wrote:So there is advantages. I look at it as a membership fee. I pay more than that a year for my gym , hell, I pay more than that a year in Starbucks. Just the cost of business. Roadside assistance is $200 value, early seating, extended warranty (imagine what that cost on any item), 90 days purchase coverage , status symbol (responsible and part of a elite company), and NO INTERESTED! So after considering all angles, it's a great card. It all depends how u look at the "fee"


I agree with you, I pay an embarrassing amount of money at Starbucks each year lol plus the fact that your points transfer to airline miles is a good value in itself.
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

UPS Gregg
Platinum Member
Platinum Member
 
Posts: 86
Joined: Sun Jan 01, 2012 4:14 pm
Location: Tennessee

Postby UPS Gregg » Wed Apr 04, 2012 12:21 pm

Philosophuer wrote:So there is advantages. I look at it as a membership fee. I pay more than that a year for my gym , hell, I pay more than that a year in Starbucks. Just the cost of business. Roadside assistance is $200 value, early seating, extended warranty (imagine what that cost on any item), 90 days purchase coverage , status symbol (responsible and part of a elite company), and NO INTERESTED! So after considering all angles, it's a great card. It all depends how u look at the "fee"


You don't get much, if anything, for the "membership fee". Trust me. It's not worth it. Its just a credit card. Not a business or a gym membership. The roadside assist can be included in you car insurance and extended warranties and returns are seldom used. Not enough to pay an annual fee anyway. Especially $175. And unless you attend lots of concerts and/or events the fee isn't worth it either. There are plenty of no annual fee cards that offer the same same point values for groceries and anything else that Amex Gold offers. Did you know that something like 80% of airline miles are never used? Yep! Look it up. It's because it's such a hassle. So, why pay a fee? Spending a certain amount per year on coffee doesn't justify the fees either. Take away the supposed "prestige" and luster of having an "upper tier" card there you are left with one undeniable fact.....it's just a gimmick.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00

bmw1990Z
Centurion Member
Centurion Member
 
Posts: 341
Joined: Sun Mar 18, 2012 10:08 am
Location: USA

Postby bmw1990Z » Wed Apr 04, 2012 1:23 pm

UPS Gregg wrote:You don't get much, if anything, for the "membership fee". Trust me. It's not worth it. Its just a credit card. Not a business or a gym membership. The roadside assist can be included in you car insurance and extended warranties and returns are seldom used. Not enough to pay an annual fee anyway. Especially $175. And unless you attend lots of concerts and/or events the fee isn't worth it either. There are plenty of no annual fee cards that offer the same same point values for groceries and anything else that Amex Gold offers. Did you know that something like 80% of airline miles are never used? Yep! Look it up. It's because it's such a hassle. So, why pay a fee? Spending a certain amount per year on coffe doesnt justify the fees either.Take away the supposed "prestige" and luster of having an "upper tier" card there you are left with one undeniable fact.....it's just a gimmick.


I see your point but if you use the card regularly, and you travel 3+ times a year, the points will most certainly be used therefore the 175 fee is more than worth it. But if not then I see where the fee could outweigh the cards benefits.
Cards in my wallet:

-Citi Forward Card for College Students-July 2011

-American Express Platinum Delta Skymiles--July 2013

Philosophuer
Gold Member
Gold Member
 
Posts: 35
Joined: Tue Mar 27, 2012 12:59 pm
Location: New jersey

Postby Philosophuer » Wed Apr 04, 2012 2:24 pm

All great points, I'll just use it for the year, ask them to waive it next year or just cancel it. I have the blue with 0 interest, but I save it for large purchase on a rainy day. Business isn't always great so it's my back up. I do appreciate all of u guys insight, professionalism, and honesty. Going forward if u have advice please let me know. I will be posting new questions soon and I can use the viewpoints and info

UPS Gregg
Platinum Member
Platinum Member
 
Posts: 86
Joined: Sun Jan 01, 2012 4:14 pm
Location: Tennessee

Postby UPS Gregg » Wed Apr 04, 2012 8:42 pm

bmw1990Z wrote:I see your point but if you use the card regularly, and you travel 3+ times a year, the points will most certainly be used therefore the 175 fee is more than worth it. But if not then I see where the fee could outweigh the cards benefits.


How would it be worth it? You'd have to spend $17,500.00 just to break even. The benefits aren't even close to being worth the fee. It amounts to nothing more than a membership fee but let me ask you this.......if you were going to chose between two gym memberships and one was free but offered the same exact equipment as the other that is $500.00/year and has a fancy sign.....which would you chose? Hopefully the free one.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests