The Amex Gold Card is here to stay. Here's why.
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- čas přidán 30. 06. 2024
- You can't bring yourself to cancel the American Express Gold card.
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Travel Channel: @RichardDebs
00:00 Intro
01:49 Amex Platinum Card Statement Credits
03:58 Psychology of Owning the AmEx Gold Card
05:00 Annual Fee + Authorized Users
05:15 Points Per Dollar/Multipliers
08:08 Statement Credits
09:16 Travel Benefits
10:56 Purchase Benefits
11:23 Welcome Offer
12:07 Summary
#credit #creditcard #americanexpress
I know that some of you are shy asking questions in the comments. I do prefer that you share here because many folks have the same questions. However, on those occasions where you're feeling shy or desire a bit more privacy, you may always hop on over to my website, bumacompany.com and hit me up in the chat. I do my best to respond timely in the eve.
Hellooo rewards!! Thanks for the tips!
I love this video and your grocery shopping footage! I love this card because the points earning is just so high. Year after year I earned more points with this card than my BBP or my platinum. I even use this card for my Costco purchases and do same-day delivery. Most of the time I get 4x for Costco and occasionally only 1x.
Trying to figure out a pattern like Apple Pay vs card #.
Glad you enjoyed the shopping footage 😊 - I'm assuming you meant the muffin bit lol!
The Gold card is a serious earner - I love AMEX points. Be sure to let us know when you solve the Costco bit.
Simply love every time you put out new content. Thank you.!
I don't have the gold card but Have you tried to buy a gift card o Or research if there is a way to offset one or both of the monthly credits without visiting directly.
Awesome to read such a comment!! Keeps me motivated. 🙏🙏
I haven't explored it much because I rarely use Uber and I don't enjoy the restaurant dining options available but cheesecake factory is definitely doable with the gift card option for those interested.
A person could stack cheesecake factory GCs and enjoy a meal there. If I were to do that it would be to use a credit that doesn't interest me which in my mind is not a credit.
The annual fee for the gold makes sense for us even without the credits because we will most likely be getting 100,000 points a year minimum on it from our grocery spend and more if we use it for dining.
It's such a rockstar card!!
I could use the credits 4x over a month. I don’t understand all the complaining. Its a point earning machine. Once you’re outta new SUBs, you eventually have to earn points the old fashioned way - work the multipliers on legit spend.
Exactly!!! SUBs are great and I always jump on them no matter what system I'm running but sometimes there's a drought, so I subscribe to "Always Be Earning" - ABE! - bring on the multipliers!
Some of us don't spend enough at the grocery store for 4xMR at $250 to beat 3xC1 or WF or Citi or a 5x cash or UR card with no af
@@Adiscretefirm I get it, but I however need to eat, it's my favorite sport 🤣
13 months ago, my wife and I each got our own Gold cards. She cancelled hers this month and is an AU on mine. 2 SUBs were great but we only want one AF.
Cool. Definitely no need to hold 2 of them after the SUBs are earned and after 1 yr. AMEX better not add an AU fee later this year for the Gold card.
My man another video! Let’s colaborate in nyc one day! I got the gold and def might consider downgrading if possible to the blue preferred esp since gold doesn’t offer travel that the platinum does…! Unless I’m wrong
I greatly appreciate you as a subscriber. There are a couple folks already in queue regarding collaboration. However, you have 1 problem, you don't have a channel. Additionally, we all pick collaborators carefully to ensure that the content works for both parties and that the channels and messaging are aligned. However, I do urge you to start your channel and create an identity. There are also far greater folks you might want to align with to help you grow your channel.
You can only downgrade the Amex Gold to the Amex Green which is still a solid card with a $149 AF.
@@shawn.creditgotcha ! Yea I mean it’s a pain to have to use Uber eats once a month and go to shake shake for the $10 monthly but hey I guess that removes the fee to $10 a year ! Which the 4%>3% ave other cards handled and pays for !
@@RSquared-travel-rewardsall good man! Just offering a real person to interact with prob won’t start a channel got a full time job and doing great otherwise ! Will continue to see you on CZcams !
My wife and I easily spend up to just under 25k in Groceries in a year. We're a family of 4. Looking forward to getting the Gold soon. But only reason we're waiting until next year is because we're currently running 2 Freedom Flex cards with the 5x Groceries/Gas for a year. Once we get close to maxing out the 12,000 limit per card (24,000 total) we'll jump on the Gold. And that will become our forever grocery card.
Bilt will be our 1st of the month date night card and possibly dining card (chasing Bilt status with that one).
Sounds like a solid plan. 1st of the month dining AND 2X catch-all. BILT 2X is more valuable that CP1's VX 2X.
AMEX Platinum also has a benefit of providing Primary CDW at $19.99 per car rental reservation (up to a consecutive 42 day reservation)
Yup, but too bad it's not free.
I got a question about the Bilt MC, if I pay just the taxes and fees with it, do I still receive the travel protections? Also same question with the Venture X? I'm referring to award tickets.
I believe that the answer is yes for both cards. I'd doubly confirm. I know that Amex and Chase are a big yes (as of this response) which I suspect your already know. I haven't invoked anything with Bilt nor CP1 but have with Amex without an issue.
Just signed up for my Amex gold card! 90k sign up bonus on $4k spend over 6 months. Can't resist that, super excited to get my gold card can't stop watching videos about it
hahaha. The Gold card is one of those cards that ya just gotta have!!
Just when I thought you moved on from Bilt 😃.. 200 travel incident can be used to buy travel bank from united if you ever fly united anywhere
Thanks for the tip. One day I will fly united I'm sure. American and Delta are my preferred domestic airlines with Delta topping the list. Now that BILT has Alaska Airlines and dropping AA, they are looking interesting to me.
What amex cards offer buyer protection. I bought some stuff online and the merchant didn't want to exchange or credit my account the cost was small so I didn't try to dispute it.
To be clear, it is not buyer protection. There are 3 levels of protection: 90-Day Return Protection up to $300 per item; 90-Day Purchase Protection against lost, stolen or damage up to $10K per occurrence; then there's the 1 yr extended warranty. These protections may vary by card and there are lots of AMEX cards so you'll want to review the terms of your AMEX card in question if you still fall within the 90-Day threshold.
If i get the green will Amex reach out to upgrade to the gold ?
I don’t want to apply for all 3 on the bonus ladder. Just want to be upgrading over time.
They most certainly will reach out as long as you maintain an account in good standing. However, the upgrade offer is usually less than the new card sign-up offer.
The most effective strategy is to apply for all 3 over time in the correct sequence.
After you have the green for a year, you can always apply for the gold to get the full bonus offer then cancel the green if you no longer need the green. You may then repeat that same approach for the Platinum as well. Makes sense?
Every restaurants and deli in NYC pass the card fee to customers now. They all advertise it as a 3.5% cash discount.
Hahaha. That's a sad scene. Can you imagine a day when that becomes the norm for all vendors? However, I get that small businesses take a hit, but still - cost of doing business. If they all band together there is no turning back.
@@RSquared-travel-rewards Yeah, long island, where Cabo is located is a hot bed for CC fees. There isn't a single restaurant, deli, or take out that doesn't charge a 3-4% CC fee marked as a "cash discount" The only places that dont charge a fee are the big chains like mcdonalds, chiptole, etc.
I Love the Amex Gold but if the AF increases which I'm predicting within the next year, I'm probably out.
of course after you fully inspect the new credits 😊
Cancelled it long time ago. Coupon book. Uber is completely useless.
Mainly a food card for $250 good call.
And if you happen to have high spend in those areas it makes sense. If you don't then it's not the right card for you.
@@RSquared-travel-rewards I do but 1x extra compared to other cards for most folks isn’t worth the AF, if you have a strictly Amex setup it can make sense depending on your wallet of cards.
@@shawn.credit well said.
@@shawn.credit No, food card is Citi Prestige.
I see the value but with my recent Amex Platinum addition I reevaluated the Amex Gold and with no real travel value it’s an easy card to let go for me. I have the Citi Premier, C1 Savor One, Amex Green, Amex Blue Cash Everyday, Amex BBP, Amex Everyday Preferred (AF currently waived per Amex) no real loss and $250 saved.
We all have our use-cases. If it no longer works for you, wise move to move on. It'll be there if you ever need it again - just without the SUB 😂😂
@@RSquared-travel-rewards True, 1x extra wasn't justifying holding the Amex Gold all depends on your credit card setup as a whole!
Do I get access to the delta sky club lounges with the amexgold?
Not at all. There is no lounge access with this card. Of course you can always fly business class on Delta to get lounge access 😊
You need Delta status or the Delta Reserve or Centurion card for Delta lounge when it comes to credit cards. Those cards will have a cap on visits per year (10 & 6) come Jan 2025.
👍🏽👍🏽
I don't envision a scenario where I'll be getting rid of my Amex Gold card. What would I now want 4X on my 2nd largest spend which is food. We can't all run your 5X grocery store setup so I'll settle for 4X with the Gold card.
Hey buddy, you're my very first member. Thank you for the support. I hear you loud and clear about the Gold card. It just earns and it's the best in the game without having to run a system to topple it.
Yes, it takes tons of planning to amass 3 Citi Custom Cash cards to get the 5x on all groceries so yes the Gold card is going to be the best choice for everyone else. Keep your Gold card, and keep earning 😂😂
Honestly today i spent $26 getting delivery so i dodnt have to drive to the store to do pick up. I have wasted a ton more money with the gold then i used to when i only used debit. As a frugal guy its hard to think it's reasonable to retain these cards if not for the bonus i got to keep the gold I'd be disappointed with it.
Don't use debit. At least get a $0 annual fee card.
I downgraded to the green card. I travel more and eat out, but not as much as I used to. I pair it with three platinum for the benefits and credits, I earn more MR points and can use the clear credit (even tho I have it on the platinum, I use it for other people)
You'll never pry the Gold card out of my hands. 3 Plats? Nice!! Be sure to stop by tomorrow on my new platinum video
Off topic question, what kind of wallet do you carry when you travel?
Funny you should ask. I rocked a super affordable metal wallet for a few years and only last month upgraded to the Ridge metal wallet. Don't really know why I upgraded. Both are great 😊
My original Hayvenhust goes for about $30 and the Ridge is anywhere from $75-$95. Both are on Amazon. I definitely prefer metal wallets because of their thin and secure designs. (blocks RFID scanners which I recommend when travelling)
@@RSquared-travel-rewards ah I was looking for something that also supports some paper currency as well.
@@MattMcGrathOfficial That's where the money clip on the backside comes in. It functions like a regular money clip for cash. I used to carry a money clip and a regular leather wallet. Now I just have the 1 wallet with a built-in money clip.
I'm not a fan of large wallets when I'm on the go. But I totally understand why others might.
@@MattMcGrathOfficialI’ll be honest bro, Ridge wallet is not convenient straight up. I went back to my leather bi fold after a few months. It’s too cumbersome when you are trying to use it in real time. Nice quality materials in the product though.
@@MaizenBlue81get an ekster, greatest decision Ive ever made. Its like ridge but actually efficient to use. Ive had it for a year now with zero issues. Holds 6 cards and you can get different versions that have a folding part for extra card space.
I have a gold card, i dont use it for points. I use it because it keeps my overall credit utilization lower. It reports to credit companies where as my debit card does not. Paying the annual fee is ok by me on how i use it.
I just received approval, curious how do you actually utilize it? For example do you use it seldomly for everyday purchases or because its a charge card do you keep the utilization low to none and just keep it open for a large purchase to pay back asap?
@@eharlem3 Use it as a regular credit card, I used it like you would a debit card I ran every daily expense through it the whole month and paid it off bi weekly to once a month. As long as the Amex Gold card is paid in full by the due date you can rinse and repeat, I did this for 2 years with no issues. It reports a balance to the credit bureaus but doesn’t count against utilization on your credit score.
If you don't care about points, why not use the Amex Green card?
Folks, you're violating the spirit of this channel 🤣. We care about points and miles. We want to get as much value from banks as possible and win!! Banks are evil, get value from your cards. Get value with each transaction.
Gold does not factor into utilization. If you’re not using it for all food, you’re leaving points on the table. Also, Amex will consider closing the card if you don’t swipe. They make money on transaction fees.
As a college student that doesnt spend much, maybe $200-$500 a month, is the bilt mastercard worth it?
Do you have a college apartment or are u in a dorm.
@@RSquared-travel-rewards it's a mix of both I would say, but it's outside of campus so I would say an apartment (my uni only has dorm for a handful of athletes). My parents pay rent in cash, I don't pay a dime. However I am going to do an internship at summer, and the rent will probably be around a total of $4000 (maybe a bit less).
@@grogu_2003 - If your parent were willing to allow you to the rent on a BILT credit card and they pay the bill as they are currently doing, then it would be a very, very wise strategy to get the BILT credit card assuming you qualify. You'd build credit and earn lots of points. You should champion that idea to them.
If you currently do dining/fast food AND supermarket shopping then the SavorOne is the your best bet. If your only expense is dining/fastfood then BILT would then be a very good choice especially since you'd earn double points on rent day and you'd already have the card for after graduation.
@@RSquared-travel-rewards followed your advice and got approved for 5k with the Savor One as my 2nd credit card ever!
When would you recommend for me to get rhe quicksilver for the areas the Savor One won't cover?
@@grogu_2003 Congrats! I hope you used my referral link 🤣. Ok fine, you forgot 😊.
Don't rush it. Give it 6 months and in the mean time, put everything on the SavorOne card. Try never to use your debit card NEVER carry a balance. You should pay off your FULL statement balance each month. Treat your SavorOne like a debit, if you can't pay off the item in full then do not purchase the item.
I believe that everyone should graduate college owning the QS, S1 & BILT. However take your time and allow 6mos to pass between applications. Keep me posted.
Citi prestige is 5x
Not sure what point you're addressing.
@@RSquared-travel-rewards Restaurants (and airlines for that matter). MC, no FTF.
Richard I think you should do a full fledged take off the gloves parody video about all the nonsense in the CC community. 🎉
You know that I want to because that's totally my personality but apparently it is a close-knit community so I wouldn't want to offend anyone. I had to change the intro a few times to make it less harsh 😂😂
@@RSquared-travel-rewardsits a Mufasa and Simba moment - remember who you are. If you don’t do you, you doesn’t get done and the world is incomplete. You offer incredible insight and unique analysis and do it with a bit of flair. Have fun with it and we’ll have fun with you.
@@chadpennycuff challenge accepted. It’s time. Head to my website bumacompany.com and logged some ideas in the chat section so that no one knows what coming.
Cool video, but I don’t get the mispronunciation of ‘Amex’
It's my thing. I'm corrected every time 🤣. It just feels better plus it gets attention. If I felt no one knew what I was talking about, I'd switch for sure. If you threatened to never watch another video, I'd switch as well 🤣
It's Amex, not Amex.
Thanks 🙏