Is the Amex Gold Still Worth it in 2024?
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- čas přidán 9. 01. 2024
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I order uber one a week($20), go grocery shopping one a week($150) & when football season starts dining will be one a week ($100avg). That’s at least $550 value per year on the low end.
I travel at least once a year too so it’s a no brainer
I hate paying the annual fee just like everyone else. But get a $100 rebate off the annual fee on the Gold Card because I have a corporate Amex card for work. I don’t use the points for travel as I think they are worthless and the values keep changing. I use my points to invest in my Charles Schwab brokerage account with gives me tremendous value over time with compound interest. A win win for me.
I don't see myself canceling the gold anytime soon. It's effective annual fee is 10 dollars to me. The customer services especially the purchase protection, I cannot value this.
CZcamsrs-amex gold is the best card on the market
CZcamsr 1 yr later- should i cancel the amex gold card
CZcamsrs yr2- is the amex gold worth it
For me, we use Seamless to order work lunches, so it gets used up organically. As for Uber credit, I use Capital One Savor which gives 10x on Uber eats. So that gets used up as well.
Its so funny with these AF cards - people don't realize the odds are slightly stacked against you. You're constantly fighting a never-ending wave just to "justify" the net credits you're scraping by. Not to mention 0 fee credit cards are ZERO stress and you ALWAYS come out on top with cash back, etc.
lol cash back 🤣🤣🤣
amazon, chase freedom, much better options lol amex gold overrated fr
none of the AMEX cards are worth it anymore 😅
Yessss, you nailed it. I’m contemplating on keeping my CSR now because of that.
Highest rewards for dining and groceries. If you frequently use Uber or Uber eats/GrubHub, how are you losing? It's not for everyone, obviously.
I use my Rakuten religiously, and I always have a good amount of points straight to Amex. I don’t mind chasing for the monthly credit. Got 3 AU at this point. I’m keeping mine
Hey! To anyone who can answer I spoke to Amex asking if waiting for the due date to pat the bill with auto pay hurt my credit if I carry a decent balance on the card past the statement date… the person from Amex said it should never hurt you as long as you pay your bill monthly… this obv is different then normal credit cards correct because they send your “usage” reports to credit on statement dates correct ? Even if you pay on time (due date) you will still be hurt techbically.. is Amex different ?! Thx
Gold is THE best amex card for maximum value imo
Should the calculation be comparing a no annual fee card that gets 3x? Does the extra 1x on spend worth the hassle of the monthly credits?
can I still acquire 4x reward points for groceries (whole foods) if I purchase through amazon for delivery or do I need to pay for those groceries at the physical store?
I suggest you test it with a small order. But from what i have read on a short search on reddit, it seems it does count
I rock the Rose Gold card 💖
This is a ten minute video and 2 minutes of it is an advertisement
I’ve been debating getting this card for years but I feel like it earns a similar amount to the freedom flex since I don’t really get any value from the coupons
I’ve had the gold for 3 years. I’m canceling when my AF comes due in march. Maybe I’ll do a retention offer if I can get at least 25000 points or if they can wipe the fee, but otherwise I’m getting rid of it. Don’t get enough value and I hate jumping through the hoops with the credits. Outside of rotating categories, I’ll probably use one of my chase cards for 4.5% on dining (CSR 50% boost on 3X back) and one of my custom cash for groceries
This works well only if you want economy flights on Chase Travel. Hotels are often noticeably cheaper elsewhere. But if you want transferable points - it’s only 3x. And chase doesn’t have unique interesting travel partners that Amex doesn’t. UA is the one that differentiates them, but after devaluation it’s of no value.
Hitlon Surpass, $15K spend, replaces the Gold card for me.
Just last Friday (1-5-24), I picked up a burrito at Chipotle for $9.85. I know the pricing is variable, but it certainly wasn't $29! Also, why not factor in Amex offer savings or extra points earned via Rakuten?
He had it delivered, but if you pick up- its much less..maybe half. I always plan it as a pick up on the way home from work. Or I pick a nearby place, place the order and head out to get it.
I order uber eats 1-2 times a week for my kids when im at work. so i always get use of the credit.
You can get the same points amounts on dining and groceries without chasing $10 here and there every single month 🙃
Citi Custom Cash and Capital One SavorOne are great alternative dining/grocery cards where you don’t have to worry about credits or annual fees.
Yeah as long as you’re buying groceries and dining/ delivery/ take out for at least 2 or more people you shouldn’t need to worry about using the credits the points will pay for themselves just eating normally
@@pishposh4506It’s not just about whether the points pay for themselves. There’s still the opportunity cost of a no-AF setup, so this card has to outpace that by the annual fee, which takes a lot more spend to accomplish
I keep this card for 4x Amex points to transfer to airlines.
Which ones?
I been doing pick up bc I save on tip n also it on my home anyway
This and the BBP are two cards I will never get rid of.
I enjoyed the video, but I would like to see the the opportunity cost taken into account when doing these analysis. That is, if you could get three points per dollar on a different card with a lower annual fee is it worth it to get four points on this card with the effect of annual fee that you're paying?
Definitely. Ben, please make an opportunity cost video... Good luck keeping it under 20 minutes. 😅
Amex card family rule has this card off the radar for me. No SUB because I have the Plat.
Was thinking to run quick silver, savor one and venture x lineup but the sign up bonuses for the gold and platinum could almost fund a whole trip
What does the quick silver give you that the other two don’t?
It’s the Capital One Duo.
Not a trifecta.
Amex is overrated due to the high AF and too many monthly credit.
If u get the Ventire X u don't need the silver
@@sanity.91 I already have quick silver. That was one of my starter cards
I wouldn’t use it if I had the venture X
One of my favorite card! Great video and information!
Great video. Curious how many times did you go to use the Amex Gold on dining and were refused because the place didn't take Amex or even worse: mom and pop ethnic restaurant pissed off by Amex fees remembers you and gives you worse food and/or service? Also just wanted to point out the other downside to Uber Eats besides doubling of the price: eating out of plastic takeout containers. And no 4x on groceries from Walmart/Target/clubs etc, right? Haha to temper my criticism, is it fair to say that Amex has better transfer bonuses than Chase or C1?
Yeah there are a few places I go that dont take it, not many though.
If mom and pop restaurants give you worse food or service for using an Amex card, they probably should just not accept them in the first place. Visa Infinite cards like the CSR and Venture X also cost merchants more. It's the nature of the game when you are a business.
@@FlintIronstag23 Well everything is worse after COVID so we have to play by their whims. I use a C1 Savor Mastercard for 4X on dining, accpeted worldwide. VX only gets 2X on dining, CSR better but still only 3X. And C1 is $155 less AF. Oh and C1 counts bars, lounges, breweries as dining. Does Amex? Still think Gold may be better if the transfer bonuses are better, anyone evaluated that?
The dining credit can be used for Grubhub also. Not just shake shack. I use it and order pick up so as to avoid the fees. Not hard
Right, and if you are in a city, basically that gives you almost every restaurant since they are all on grubhub
I use Uber Eats every month, but I don't have a Shake Shack or Cheesecake Factory near by so I am close to the same spending as you did. Maybe $150 total for an effective AF of $100.
If the AmEx Gold annual fee increases I may abandon it for the Chase Trifecta (Unlimited, Flex, CSP).
Now subtract the difference in the higher price you paid for Uber eats.
It isn't worth it anymore. The space has gotten competitive and there are better cards out there for lower fees.
I'm going to Japan in a few weeks with airlines and hotels all paid for. Even got business class on the way back, and it's all thanks to the gold card, with some side help from the platinum
I only use the uber eats credit to do carry out. Usually wing stop. Same price for food with $10 off each month
Hate the gold card 🙄🙄 reasons being cause of the credits a4e trash
no
I'm out of the Gold Game, and soon my girlfriend will be too. The uber credit I've used but the dining credit is hit and miss. The 4% on dining/groceries is good but I can get more on groceries on Amazon/Walmart cards and a bit less on restaurants on Costco and other cards so it's not worth the effective $100 annual fee for me. Great card for first year (especially with the resy bonuses) but not so much going forward.
It needs more travel credits or a much higher earning rate on groceries. Perhaps 6-10x per dollar on groceries. That would more than help offset the annual fee
6x-10x on groceries? Who else gives pts on groceries like that? 5x is as much as I ever see. You're asking for something that has no precedent. Why such high expectations?
@@TheRitualChannel I know BCP gives 6% back on groceries. Besides for a $250 AF imo the grocery earning rate should be higher to justify. Because not everyone can easily utilize the other credits
Did you not watch the video? Still get great value as it is.
@@naveenthemachine good point 😉
If you value the points at 1 cent each, you would have to spend $6,250 pre year on groceries and restaurants to offset the annual fee, assuming you use none of the credits. That is $521 per month. That is a pretty doable amount of spend for a lot of people.
I just got a 10k retention offer (after spending $2,000 in 3 months) to keep my Gold card for another year and as my most used card I have no plans of ever closing this card but I’ll definitely act like I will every other year to try and get a similar retention offer in the future. The credits are easy for me to use and I use the $120 Uber credit but only use it for pickup I rarely if ever have it delivered.
I hated this card for living in Nor Cal. I got rid of it.
$860 doesn’t seem like a fair valuation. I think you should also subtract the opportunity cost of rewards earned on other cards. Just because you’re spending enough to offset the annual fee doesn’t mean the card is optimizing your spend
Taking his redemption value, he's earning 4.8% back on grocery and dining.
Yes, some card swill give you 5%, but none are unlimited.
I'd say it's a close-enough to fair valuation. Otherwise "optimizing spend" becomes a penny-pinching bore.
🥃👍
Do something for the U.K. mate
You do know u can pick up uber eats right?
Depends on the location as to whether that is convenient. From my house I would have to drive 12 miles to the nearest uber eats restaurant
Not worth it.
I canceled my Amex card last year, spent more than 20,000, and only got $150 Apple gift card LOL
How? If you spent $20k USD you would have at least 20k points, but if that spending was in restaurant and grocery thats 4x so up to 80k points. How did you only get a $150 apple gift card? Or is your gold card a non-US version?
Mine was a US version Amex Gold card.
The total spending was $ 74,000 and it is impossible to spend all the money on the "4x category". I got an Apple Airpod Pro, a Dyson Supersonic™ hair dryer, and a $50 Nike gift card + a $150 Apple gift card so far. If you do a little calculation, it is worth less than 2% cashback. I am just saying that I am not a wise spender and recommend people like me don't use this card.
@@GalouMayao yeah you need to use it on business class tickets directly through airlines to get big value
A Brit drinking coffee from a tea cup. 😊
Of course
noice
Instead of expensive Poop coffee, Cold Brew exists ! It's less acidic and easier on digestion
Try Dayes coffee, its inexpensive and you can drink it all day
What are your options if you wanted to downgrade the Amex Gold? Any options with no annual fee?
there is the amex everyday card
Unfortunately no annual fees downgrade option is not available!
@@diamondwarrior420You cannot downgrade from Amex Gold to Amex Everyday. The Gold is a charge card, and the Everyday is a credit card. The lowest you can downgrade the Gold to is the Green with its $150 annual fee.
@@diamondwarrior420no, you can’t downgrade to that, only the Green is possible.
oh i dint know
@@curmudgeonextraordinaire1884
I think you mean "Bro's Gold"
I think the gold card is the most over rated card on the market. (unpopular opinion) Butttttt you can get just as good if not better with other cards with little or no annual fee.
Honest question: what other card gives 4x on supermarkets and restaurants every month?
@@vahn2g4 bcp give 6x on groceries. There are a bunch of 3% on dining.
@@vahn2g4chase freedom flex right now for the year
@@vahn2g4 the Amex Everyday Cash Preferred card gives you 6X on groceries and the $95 annual fee is waived for the first year. Using the Gold card along with Cash Preferred is a winning duo.
@@vahn2g4did you find out haha
Overhyped and overpriced