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  1. #1
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    Default Are Amex charge cards worth it anymore?

    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
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  2. #2
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    Quote Originally Posted by FutureBillionaire View Post
    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
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  3. #3
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    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)
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    Quote Originally Posted by SparkyinCA View Post
    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
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  5. #5
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    Quote Originally Posted by SparkyinCA View Post
    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."
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  6. #6
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    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)
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  7. #7
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    Quote Originally Posted by plc44 View Post
    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
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  8. Centurion Member
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    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.
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  9. #9
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    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
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  10. #10
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    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.
    FICOS
    TU: 771 April 2014
    EQ: 777 April 2014
    EX: 779 April 2014
    TU08 (Barclay's) 798 April 2014 Statement
    Discover 791 June 15 2014

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    Amex Platinum NPSL (5/13 - backdated to 5/99)
    BofA Travel Rewards Signature Visa 10k (1/14)
    Chase Freedom Signature Visa 11.5k (1/14)
    Amex Everyday Preferred 6k (3/14 - backdated to 3/99)
    Amex Hilton HHonors Surpass 9.5k (7/14 - backdated to 7/99)
    FNBO Dodge MasterCard 12.8k (8/14)
    Lowe's 10k (8/14)
    Chase CSP 12k (9/14)

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