Are Amex charge cards worth it anymore?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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FutureBillionaire
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Are Amex charge cards worth it anymore?

Postby FutureBillionaire » Sat Feb 09, 2013 11:11 am

I'm probably done with my PRG. I'm just not getting the benefits out of the card. I heard a rumor that you don't get a discount for booking travel through their site with MR points anymore. Also, the shopping mall has been gone for months. I feel like I'm paying them to carry this card. Has anyone been able to justify the annual fee for the gold, prg, or plat dollar for dollar?
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


SparkyinCA
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Postby SparkyinCA » Sat Feb 09, 2013 11:50 am

FutureBillionaire wrote:I'm probably done with my PRG. I'm just not getting the benefits out of the card. I heard a rumor that you don't get a discount for booking travel through their site with MR points anymore. Also, the shopping mall has been gone for months. I feel like I'm paying them to carry this card. Has anyone been able to justify the annual fee for the gold, prg, or plat dollar for dollar?


I agree with you on this except for the backdating Amex provides. Otherwise, they seem like they are out of touch with the rest of the world.

I keep mine only for the BD and will add a couple of more cards when the time comes to take advantage of the 29 years of history I get with each new card I get. For that alone, the AF's are worth it to me to keep my credit scores as high as possible (over 760+ I mean) and I still have a ways to go to get to that level since I"m in rebuilding mode.

Saving tens of thousands of dollars on mortgage interest, car loan interest etc...more than enough pays for the AF's Amex charges. So what if their MR's suck or cash back sucks? It's all about having high enough credit scores to pay the lowest interest rates possible and over a lifetime, that pales in comparison to a small investment of $175/yr for a PRG card.

Everyone's case is different so YMMV depending on your situation :)

Reclusive46
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Postby Reclusive46 » Sat Feb 09, 2013 11:57 am

In the USA you are lucky to have a lot of choices. The choices are not exactly amazing in the UK and Amex has pretty much the only premium card (Apart from some private banking cards) here.

I do agree that Amex has lost touch with the world a bit. Amex acceptance in parts of Europe is shocking as well (Good in the UK though).
Amex UK Platinum Charge Card
Amex Blue Cash USA
Amex US Gold Corporate Card
World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)


cashback
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Postby cashback » Sat Feb 09, 2013 1:34 pm

SparkyinCA wrote:Saving tens of thousands of dollars on mortgage interest, car loan interest etc...more than enough pays for the AF's Amex charges.


And how might you be doing this?
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

Deweytf4
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Postby Deweytf4 » Sat Feb 09, 2013 2:01 pm

SparkyinCA wrote:I agree with you on this except for the backdating Amex provides. Otherwise, they seem like they are out of touch with the rest of the world.

I keep mine only for the BD and will add a couple of more cards when the time comes to take advantage of the 29 years of history I get with each new card I get. For that alone, the AF's are worth it to me to keep my credit scores as high as possible (over 760+ I mean) and I still have a ways to go to get to that level since I"m in rebuilding mode.

Saving tens of thousands of dollars on mortgage interest, car loan interest etc...more than enough pays for the AF's Amex charges. So what if their MR's suck or cash back sucks? It's all about having high enough credit scores to pay the lowest interest rates possible and over a lifetime, that pales in comparison to a small investment of $175/yr for a PRG card.

Everyone's case is different so YMMV depending on your situation :)


I wouldn't say Amex Cash back sucks, in fact the Blue Cash E/P are one of the best cash back cards out there right now. I do agree about the value of M.R. points, and never understood why someone would have a gold card over the BCP, when the BCP has a cheaper annual fee and a greater rewards profit (at least when it comes to rewards.) I would think of the charge cards as "You get awesome benefits and customer service, but crap rewards."

plc44
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Postby plc44 » Sat Feb 09, 2013 2:29 pm

I've had Amex for a few months now, and I do like it. I think a big part of it is that I was instantly approved by them, and with NPSL I feel like they trust me. However the card I really want is the Chase Sapphire Preferred, and when/if I attain that the MR points will be greatly devalued.
Discover More - $1000 (07/12)
Chase Freedom - $1000 (02/13)
American Express SPG - $2000 (08/13)
American Express Green Card - NPSL (12/12)

FutureBillionaire
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Postby FutureBillionaire » Sat Feb 09, 2013 2:45 pm

plc44 wrote:I've had Amex for a few months now, and I do like it. I think a big part of it is that I was instantly approved by them, and with NPSL I feel like they trust me. However the card I really want is the Chase Sapphire Preferred, and when/if I attain that the MR points will be greatly devalued.


That's the boat I am in. I would rather use my CSP than the PRG. I am hoping that I can backdate still if I keep my 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


DavidNY
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Postby DavidNY » Sat Feb 09, 2013 3:00 pm

Aside from the Platinum (and only if you use the benefits well) I don't think they're worth it.

Backdating can be obtained with a no-AF credit card.

Bksuper
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Location: California

Postby Bksuper » Sat Feb 09, 2013 4:10 pm

Since the Zync is gone, I agree only if you travel enough to justify the Platinum or qualify for the Centurion.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

MemberSince99
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Postby MemberSince99 » Sat Feb 09, 2013 5:12 pm

It sounds like the PRG isn't going to do it for you, if you travel enough to justify the Plat as Bksuper said, it might be worth it to PC to that. Otherwise, maybe cancel the thing once the fee hits if they won't waive it, since you have the BC anyway. Try calling them and see if they'll waive that fee. If not, and you don't need the Plat, yeah I can see it.



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