Canceling your AMEX

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
30 posts
Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Mon Mar 04, 2013 5:19 pm

cashback wrote:I think I was the only one on this board who got the Thank You Preferred promo with 5x points on gas, grocery and drug store. That is my better option. Even without that card, it would be better for me using the Sallie Mae card and PenFed because I only spend about $300 at the grocery store.


I think you were the only one, otherwise I would have jumped all over it. My household spends about $1550 on groceries a month, not including wine. Anything to help bring that cost down would be welcome. The BCP as a capped card is good but it's not useful after $6000 of purchasing power. This is the one card that I'm going to have my wife to get her own (and not be an AU) just to double our capped amount in the grocery store.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)


AMEXPlatino86
Centurion Member
Centurion Member
 
Posts: 244
Joined: Mon Feb 18, 2013 5:51 pm
Location: New York, NY

Postby AMEXPlatino86 » Mon Mar 04, 2013 5:38 pm

Sevenfeet wrote:I think you were the only one, otherwise I would have jumped all over it. My household spends about $1550 on groceries a month, not including wine. Anything to help bring that cost down would be welcome. The BCP as a capped card is good but it's not useful after $6000 of purchasing power. This is the one card that I'm going to have my wife to get her own (and not be an AU) just to double our capped amount in the grocery store.


That would be a smart thing to do.

I wanted to go for two more cards (make it an even 5 and get one more AMEX) and upgrade my gold to a Platinum. Does anybody have any suggestions for other AMEX cards and should I upgrade to platinum?
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Mon Mar 04, 2013 5:50 pm

AMEXPlatino86 wrote:That would be a smart thing to do.

I wanted to go for two more cards (make it an even 5 and get one more AMEX) and upgrade my gold to a Platinum. Does anybody have any suggestions for other AMEX cards and should I upgrade to platinum?


I really can't recommend an amex card other than the BCP.
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

cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Mon Mar 04, 2013 6:04 pm

FutureBillionaire wrote:I really can't recommend an amex card other than the BCP.


Yep. Amex rewards are pretty mediocre IMO
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

TheLethargicAge
Centurion Member
Centurion Member
 
Posts: 322
Joined: Tue Oct 16, 2012 11:20 pm
Location: Miami, Cuba

Postby TheLethargicAge » Mon Mar 04, 2013 7:23 pm

AMEXPlatino86 wrote:That would be a smart thing to do.

I wanted to go for two more cards (make it an even 5 and get one more AMEX) and upgrade my gold to a Platinum. Does anybody have any suggestions for other AMEX cards and should I upgrade to platinum?


Other than the BCP, I'd recommend the TrueEarnings (Costco) Amex. As cashback pointed out, Membership Rewards points are mediocre at best.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

AMEXPlatino86
Centurion Member
Centurion Member
 
Posts: 244
Joined: Mon Feb 18, 2013 5:51 pm
Location: New York, NY

Postby AMEXPlatino86 » Mon Mar 04, 2013 8:44 pm

TheLethargicAge wrote:Other than the BCP, I'd recommend the TrueEarnings (Costco) Amex. As cashback pointed out, Membership Rewards points are mediocre at best.


Well that would be a good suggestion but the nearest costco is in queens and I don't have a car to transfer stuff to where I live.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Mon Mar 04, 2013 8:44 pm

AMEXPlatino86 wrote:I've noticed lately that a lot of you guys are either downgrading or canceling your AMEX cards/accounts. I would like to know why and which card(s) you have? :confused:


Some members may be downgrading or canceling, but I'm actually planning on upgrading to the standard gold next month. Until I get bored or have no more use, then I might consider doing the same as the others. For now, the annual fee is still worth it
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Mar 05, 2013 5:22 pm

Moneytalks wrote:Some members may be downgrading or canceling, but I'm actually planning on upgrading to the standard gold next month. Until I get bored or have no more use, then I might consider doing the same as the others. For now, the annual fee is still worth it


Best of luck to you.
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

Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Mar 05, 2013 6:00 pm

The Amex TrueEarnings card is good if:

1. You shop a ton at Costco...and
2. You don't have a good gas card
3. You don't have a good restaurant card

For our family, we have Penfed for gas and US Bank Cash + for restaurants. That leaves Costco and while 1% cash back in store is nice, we don't spend enough in Costco every year to justify a card for that purpose alone. If you have a business that shops at Costco a lot, that card could be awesome. But for us, not so much.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

AMEXPlatino86
Centurion Member
Centurion Member
 
Posts: 244
Joined: Mon Feb 18, 2013 5:51 pm
Location: New York, NY

Postby AMEXPlatino86 » Tue Mar 05, 2013 7:52 pm

Sevenfeet wrote:The Amex TrueEarnings card is good if:

1. You shop a ton at Costco...and
2. You don't have a good gas card
3. You don't have a good restaurant card

For our family, we have Penfed for gas and US Bank Cash + for restaurants. That leaves Costco and while 1% cash back in store is nice, we don't spend enough in Costco every year to justify a card for that purpose alone. If you have a business that shops at Costco a lot, that card could be awesome. But for us, not so much.


Like I said that would be a good suggestion but:

1. I already have a membership with my local BJ's (right down the street from me) the nearest Costco's is in queens and I don't wanna lug bulk items on public transportation.

2. Won't get gas since I don't have a car (may look into getting one this year or beginning of next year.
3. Can't afford to go out to eat right now. Getting everything in to it place right now.and seems more like an unneeded expense.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752



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