Why do you have an Amex Gold?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
23 posts
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Posts: 179
Joined: Fri Apr 13, 2012 7:05 pm
Location: Miami, FL

Postby PopiLopi » Fri Jun 01, 2012 10:03 pm

I have it for the retail benefits, I only travel 2-3 times a year, usually coach because the flights are usually less than 3hrs long... In the future I might get the platinum because I use American Airlines 90% of the time, but I like the gold now because I do spend way over $10k a year in clothing, accesories, electronics, etc. so having purchase protection and return protection gives me peace of mind that when I drop my next camera or can't return a pair of shoes because it was final sale amex is there for me. In the few months I've been with amex they've refunded me over $350 between a final sale watch and an accidentally damaged handbag, that's twice the annual fee of the gold card... I know Visa cards also offer these benefits but they make you jump thru so many hoops that's not worth using them... With amex I file the claim online and in the 2 times I've done it the credit is in my card within 1-2 days
Amex: Business Platinum (09/12) BCP $10,500 (03/13)
Visa: Capital One Journey $750 (04/11) Chase Freedom $1,800 (04/12)
MasterCard Citi AAdvantage Platinum Select $8,500 (05/13)
Discover: Discover It $2500 (07/11)
Store Cards: Amazon $3900 (12/11) Macy's $500 (04/11) Kohl's $500 (05/12) Victoria's Secret $750 (11/12)

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Postby agp » Sat Jun 02, 2012 7:19 am

My experience th Visa was more than pleasant. I bought a pair of burberry sunglasses for my mom, but it never arrived. Went to my bank, they called up visa, and my refund was in in a few days. I'm not trying to be a dick guys but I have done my math and the Amex point rewards system is nowhere near as good as cash back or Chase's point system, and you guys are not conveying a cogent message to me as to why the Gold is worth it.

Unless you are getting refunds for things lIke Popi for $350 a year, which -$125 annual fee, leaves you $225 per year you save via Amex. Minus the minimum of $100 opportunity cost of giving up Visa, leaves us $125/year of benefits. That's assuming you do get a $350 of refund from amex every year, and $0 from Visa if you were to make those purchases on a Visa card. Just does not add up. You end up with benefit < cost + the misconstrued value of "prestige".

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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Location: Down South

Postby FutureBillionaire » Sat Jun 02, 2012 10:26 am

Sometimes in life, we do things just because we want to. It doesn't always have to be the best value. I'm a bargain shopper at heart. I'm thrifty. I could buy a nice leather wallet from Perry Ellis, but I would rather spend a few hundred bucks on a Louis Vuitton. I could buy a car to get from point A to point B, but I want to drive a luxury car. Sometimes you want things because they look or feel nice. The Amex has that extra oomph. Like I said, it gets noticed. You are also discounting the fact that I get a couple extra weeks to pay my statement.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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