Is Amex worth it?
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Is Amex worth it?
Posted by mr. penguin on 1/30 at 9:34 pm
I got an offer, like I'm sure many do, for an Amex cc. The $175 fee is waived for the first year.

I've been looking to get another cc anyway when a good offer rolls across my desk, so it's not like I'm just getting one to get one.

Alot of offers I've gotten (discover it, chase slate) have $0 fees.

So why does Amex hit me up for $175/yr? Is it worth it?




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Posted by CaptainJ47 on 1/30 at 9:51 pm to mr. penguin
I pay 150 for my Delta Platinum. Biggest perk is a companion airfare ticket for continental US. Just used it on a RT to NYC and it saved me $275. Therefore it works for me.


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Posted by Geaux-2-L-O-Miss on 1/30 at 11:22 pm to CaptainJ47
I did the Delta as well. Got a free pair of Bose quite headphones for spending $500 in the first 3 months which is easy to spend in a week or two. Plus you get priority boarding and the free checked bag, if you travel will cover your fee in a heart beat. But then again I have cards that cover my three most used airlines and the checked bag fee pays for the card.


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Posted by BACONisMEATcandy on 1/31 at 12:57 am to mr. penguin
Sounds like you got an offer for their gold premier... Amex's customer service, auto assistance, and extended warranty make the card worth the yearly fee to me.

I have the delta card as well



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Posted by homeskillet on 1/31 at 1:35 am to mr. penguin
Not enough info to say. What would you use it for? Are you a frequent traveler?


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Posted by jmtigers on 1/31 at 8:01 am to homeskillet
I have AMEX blue cash.. its $75 year fee but i make that and much more in cash rewards.


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Posted by aaronb023 on 1/31 at 8:25 am to jmtigers
quote:

I have AMEX blue cash.. its $75 year fee but i make that and much more in cash rewards.


same here. I have the blue cash preferred. 6% back on groceries, 3% back on gas and department stores, and 1% on everything else. I cover the annual membership fee with about a month of spending.



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Posted by mr. penguin on 1/31 at 11:16 am to homeskillet
I'm not a frequent traveler...would just use it for regular purchases (gas, groceries, clothes, electronics, etc.)


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Posted by Lsut81 on 1/31 at 11:23 am to mr. penguin
I have American Express Blue and have considered going to the gold or platinum bc they have offered 1yr free and 25k points after the first 3k spent...

I don't spend enough/earn enough points in a year to justify the $175 annual fee.

Never had an issue with Amex though, great service.



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Posted by BACONisMEATcandy on 1/31 at 1:40 pm to mr. penguin
quote:

I'm not a frequent traveler...would just use it for regular purchases (gas, groceries, clothes, electronics, etc.)


If you do get an Amex and are not a frequent Traveler... I'd go with the Blue Preferred



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Posted by homeskillet on 1/31 at 2:23 pm to mr. penguin
Based on that, I would say no. Compare it against the discover card. For a 175 dollar fee, if you average 2% cash back, which you probably won't, your first 8750 in purchases are to pay the fee back. Discover has no annual fee and you earn 1% on everything and 5% on rotating categories such as gas, groceries, retail shopping, etc... Which is what you are using it for.

If you know about what you will spend and what you will spend it on, do some calculations and unless you spend a lot of money, you will likely find that fee will benefit AMEX not you.

Unless you spend a lot for business travel, or use the card overseas because it saves on international fees, IMO it is hard to justify having a credit card with fees.




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Posted by RonFNSwanson on 1/31 at 3:10 pm to mr. penguin
quote:

Is Amex worth it?


No it isn't. I had the gold for 2 years, $125 fee. Rewards suck compared to other cards in value. Just cancelled it before the new year.



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Posted by BACONisMEATcandy on 1/31 at 3:13 pm to RonFNSwanson
quote:

No it isn't. I had the gold for 2 years, $125 fee. Rewards suck compared to other cards in value. Just cancelled it before the new year.


They wouldn't let you downgrade it to the green card or another with no annual fee?

FWIW I love my Amex



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Posted by RonFNSwanson on 1/31 at 3:28 pm to BACONisMEATcandy
they offered, but I had just gotten Discover. Didn't need 3 cards.


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Posted by Teddy Ruxpin on 1/31 at 3:39 pm to RonFNSwanson
quote:

they offered, but I had just gotten Discover. Didn't need 3 cards.


I don't understand this. If you don't need the card, just throw it in a drawer. Why get rid of beneficial credit, unless you are just not got good at not spending what you don't have. In which case, I understand.


This post was edited on 1/31 at 3:40 pm

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Posted by RonFNSwanson on 2/1 at 9:05 am to Teddy Ruxpin
quote:

I don't understand this. If you don't need the card, just throw it in a drawer. Why get rid of beneficial credit, unless you are just not got good at not spending what you don't have. In which case, I understand.


No I'm very good at using credit cards, just doesn't make sense to me to have three. Especially if I'm not gonna use it.



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Posted by 40 Rouge on 2/1 at 10:20 am to mr. penguin
I have an Amex Blue Sky. I like it alot. I haven't paid for plane tickets in years.

I like Amex for their travel services and customer service. It's top notch.



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Posted by Teddy Ruxpin on 2/1 at 10:48 am to RonFNSwanson
quote:

No I'm very good at using credit cards, just doesn't make sense to me to have three. Especially if I'm not gonna use it.


What I'm getting at is why not keep the credit which is very beneficial to your credit score? It doesn't harm you to have the card at all.



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Posted by RonFNSwanson on 2/1 at 2:06 pm to Teddy Ruxpin
Let's just say that my credit is high enough for my age that I don't need to worry about losing a few points for canceling a card.


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Posted by CajunRevolution on 2/1 at 2:21 pm to mr. penguin
quote:


Alot of offers I've gotten (discover it, chase slate) have $0 fees.

So why does Amex hit me up for $175/yr? Is it worth it?



I've started threads on this but I'm 27 and have the American Express Premier Rewards Gold card. First off, they sucker you into thinking it's some kind of status symbol or personal achievement. That's just BS. Nobody cares unless you're rocking the Black Card.

B***** don't get naked for Gold or Platinum. In fact, anybody who doesn't visit this board probably doesn't know you have to actually have good credit to get it.

Also, if you qualify for a Premier Rewards, you qualify for the Platinum. Platinum fee isn't waived first year and is $450 a month in travel. No accelerated Rewards. So its probably more beneficial to get the Premier unless you travel like 2-3 times a month.

As far as the card:

1. Got 25K for signing up. I'm already at 30K points. Enough for $250 gift card to multiple places like Brooks Brothers, etc. You rack up points fast if you buy stuff that you get 2X or 3X points for. I eat out alot. I only get 1 pt for restaurants. That sucks

2. There isn't a better card out there for managing your spend. None. I learned I waste alot of money and 63% of my spend is on groceries and entertainment. Go figure.

3. I used the travel insurance on a 3 day trip. Flat $20 bucks compared to $40 a day through the carrier. To me, it already paid some dividends.

4. There isn't no concierge service for Gold members of any level. You call the travel and they give you the run around. You want them to coordinate crap for you? Get a Platinum and pay the fee.

5. It's a good card but be conscious of what you spend. You're paying it off entirely in a couple weeks. It's good for travel and spend protection.


This post was edited on 2/1 at 2:24 pm

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