Is Amex About to RUIN a Load More Cards?
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- Опубліковано 22 кві 2024
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If they increased the fee on the personal platinum, I would want them to add a 2X catch all category.
They have business blue for that
Blue Business Plus for that at 2x points upto $50k a calendar year just like in Team Cash back has with the Blue Business Cash at 2% with the same $50k cap also with the same $50k cap in a calendar year. I have both. The Blue Business Plus is also a safety net for my points should I cancel the personal Gold card at the end of my membership year next March 14, 2025 when my fee is due. Rumored Gold card annual fee increase or not
@@kylewelch8697 What does the blue business having 2x on everything have anything to do with the personal platinum getting 2x on everything category?
I want 2X for each category with lower fee. Oh wait, that's called Venture X
@@hifiandrew Unfortunately, Capital One is not being nice to me lately 😂 They won't approve me for the Venture X.
Definitely not renewing my Amex Platinum unless they do s big improvement to the coupons. Come on, how many people use Soul Cycle?
Even incidental fees for airlines are impossible to use, everything with Chase is easier
Just cancelled my platinum. $700 already nose bleed high for me. For what? The $200 airline credit where I have to use the gift card trick to get it to pay for airfare instead of 'fees'? No thanks.
No one..probably the point of adding that. Its a value no one uses costs them very little.
@@hifiandrew I don't know the gift card trick. I haven't used the $200 airline credit at all. I decided to check my bag on my last return flight because I didn't really care if it got delayed, but they checked it for free -- didn't even charge me.
Amex can keep the platinum card it's just not worth it for me.
I am begining to think that as well. I have til Nov when my AF is coming around....if they raise the AF and do NOT offer me an incentive to renew it, then I will just let it go.....
Just closed mine today. I don't need a $700 lounge access.
Good, less people at the centurion lounge
@teodosiomeza
Don't fly or hang out at airports, so I don't care.
Greedy as never before. If it goes to 1K, I will 100% cancel and never reopen it. The benefits they offer are borderline laughable. In some centurion lounges you can enter only 2hours before your flight. And no guests. 🤡🤡
That’s why I canceled I had to pay 50 bucks for my wife and kid. For that I’ll go to red lobster in the air port
Philadelphia
If the annual fee goes up any further, the return value would have to be insanely good, for starters, equinox credit has to go.
Anyone else burned out on credit cards and just using one card for everything
Nope. My no-fee Paypal Mastercard gets the most use. Blue Cash Preferred is still king at the grocery stores, SavorOne is for food and Fred Meyer, AAA Card for gas and linked to my Shell rewards...
Yup I was there right after my baby was born. Even missed my first payment simply because I couldn't manage. Back in business now tho
NO, Im just now getting started. Lol
Next year I'm gonna stick with 4,but 2 for everyday spending.
I found once you have too many you dilute the points.
If they raise the platinum cards annual fee, it will become the ultimate overpriced glorified coupon book
I’m probably moving over to capital one duo savor one+ventura x. Amex just doesn’t make sense for me anymore.
For me, the Amex product refreshes have certainly stimulated demand... for their competitor's cards. It's a shame, because I really like Amex customer service. I had planned to keep most of my Amex cards open for the foreseeable future, but the changes are making it look like I'll have to be closing a lot.. maybe even even all of my Amex cards.
How about some actual spending multipliers with the platinum too, like a 2x catch all category like the Venture X has, or at least a 3x dining credit
$1000 AF platinum card will be nice for lounge access. less crowded. i only keep the platinum for lounge access
the fee for Amex Platinum just isn't worth it anymore. used to be, but if you think you need one then you haven't seen what else is out there that is so much better and with even greater rewards like Capital One and Chase and and and...
They have a point. Amex has successfully convinced many people to pay them upfront for the right to only recoup a ton of coupons back from them. It's like the luxury version of those old fundraiser coupon books. Remember those? You'd think...that's only $10? There's at least $100 worth of value in there. Only to realize at the end of the year, you only used one or two coupons. Or worse yet, you bought things you wouldn't have ordinarily bought just to use the paper coupon. Oh well...I'm not playing Amex's game anymore.
True for many. But Not for me. I easily break even on plat and without using entertainment, Walmart and equinox credits.
@@newagain9964 That's great! I do think the Platinum is right for a very small subset of folks. However, I'm of the opinion that far too many people are falling victim to Amex's brilliant business strategy. Even I sometimes feel the allure of the Amex marketing of a laid-back luxury travel/lifestyle. The other side of that, however, is recognizing that Warren Buffet loves investing in Amex for a really good reason...they are profiting off many many folks.
That is definitely true for some/many, but not for all. Credit cards end up saving me a decent amount of money - I would spend the same whether I had rewards or not so I might as well get rewards.
@@kalmtraveler and @newagain9964 That's great! The Amex Platinum is right for a select few IMO. If you're really getting value (or your net worth is relatively high), then keep using it. I just think Amex in particular makes the rules of the game hard to play.
just shows people are dumb with math. I cancelled platinum last year. If they mess up gold now, I will also gladly cancel that.
Definitely cancelling the platinum if they increase it
If Amex plat is going to $1000 I would be ok with double the credit amount for Saks or Uber.
Hopefully anyone reviewing these cards will point out how absolutely bonkers it is that the Amex Platinum (and to a lesser extent, the gold) is basically pre-allocating people's spend into things like Shake Shack, Grub Hub, Saks, etc.
If you're not particularly interested in those things already (which I would imagine very, very few people are) it's a terrible deal and you'd be far better off getting a Savor One with no annual fee or even an Amex Green if you need amex points.
I'm not sure about that, I only use some of the Uber credits and I still think there's great value due to the 4x multipliers in 2 common higher spend categories. I've already redeemed points for a 4 night stay on Maui that otherwise would've cost over $1,500.
I don’t use any of that and earn twice my yearly fee in cash back. People need to learn how to use the cards and make sure they are worth it for them.
Amex green isn't that great either.
@@fredericklewis8660 Uber credits absolutely useless. I value them at $0.
@@enterdoki yeah, it's not, but it's probably one of the better cards for the average person's spend that gets amex points instead of cash back. Most people are better off with cash back.
Refresh the Charles Schwab Investor card with 2 or 3% back on everything. Add a Resy credit to the Gold or Platinum
Just doing what every other company is doing. They will all just keep jacking up prices until people stop paying. As long as the masses accept the beating they will keep dishing it out.
i am surprised people are not pushing back yet.
I honestly just want 3x back on all travel with the platinum card. I’ll pay 1k a year for that alone
I was already at a "soft no" that could be converted for Amex, but with these expected changes, it's started to look like a "solid no".
If it goes to $1,000 and they don’t add valuable new credits or modify the existing ones I’m out.
How long u been saying that now? 😂🤣😂
I definitely agree the business Platinum is getting a refresh. AMEX just sent me a paid survey asking how I felt about different potential changes, etc. For me, a deal breaker would be losing the 35% rebate on my miles with my selected airline. And that was one of the questions, how would I feel if that was removed 😕 So I feel a bit nervous 🤞🏼
I canceled my platinum card in March. The hikes are not worth it anymore.
Going to take a wait and see attitude with the Platinum. Just paid the AF so I’m good until next year. I’m also okay with the new increase as long as the value is there. If I could change one thing on the card would be to make it where everything outside of flights are worth 2 points instead of one to match the Venture X. That would (at the very least) get me to use the card more. I also agree with maybe adding a Gold Status for MGM Hotels.
I went to Germany a couple of years ago and and they didn't really use credit cards in most places then. When I got back to America this year, I forgot I had this card. No need to use it
I want to see upgraded status across all hotels. I don’t need anymore useless coupon benefits.
I feel like the giant surge in sign ups for credit cards especially Amex Cards, are the direct result of travel and personal credit vloggers/bloggers and the emergence of easily accessible credit card game - not a "refresh" of the cards. The Amex CEO thinking that a "refresh" is the leading factor to driving new sign-ups is half-assed smooth-brained thinking, bet he doesn't even know jack about their flagship card offerings. "Let's do Equinox credits" offered in a whole 11 states. Great vid Credit Shifu!
If the personal platinum card increases they need to make it where the hotel credit does not need to book through Amex and wishful thinking would be if the airline we could actually use for flights besides the hacks that work right now. Maybe increasing multipliers for the card like give it online shopping, gas, grocery category even 2x. Give us something useful for the entertainment credit besides taking away everything useful ie audible and Sirius xm
I agree 💯 it never made sense to me for a travel card but couldn’t use the travel credit on the actual plane ticket. Also making people stay with airline.
Only concerned about the personal gold at this point. If the 240$ credits (which are still usable) get dropped for a resy credit I am going to close my account after I transfer out the membership points.
How would an increase in yearly fees increase sign-ups?
I applied for the Green and was placed in pop-up jail - yet I keep receiving targeted offers for the Gold, Platinum, and occasionally the Delta Gold and Platimum cards.
I've never understood why someone would get the platinum over the gold, unless they travel A LOT. Way higher fee and the only real point multiplier is on flights
Plat is just diff. Not for most ppl. And the gold is just overpriced mediocrity with circus 🤡 hype.
@newagain9964
Gold > Platinum for me. I have absolutely no use for the Platinum but I get plenty of use out of the Gold.
They will charge as much as possible as long as the market accepts it. Go elsewhere. Autograph or venture x. Refresh you wallet and cut those amex cards. If the delta platinum gets crazy I will downgrade to gold.
Yeah. But there’s a reason ppl keep get Amex and dropping CSR and not even bothering with journey type cards on market. And it ain’t SM influencers.
American Express should understand that many people who dont care what things cost are fiscally wreckless. When they encounter a bump in the road and no longer have an abundance of money to pay their Amex bill, they will simply default.
Customers who are financially prudent are much better credit risks.
AMEX Platinum annual fee is $1300USD + Tax in Mexico for example, and we don't get nowhere near the benefits it has in the US.
I had the platinum when it was 500 AF and invite only but now they give it to anyone willing to pay
For me the blue cash is perfect 6% at supermarkets for a $95 AF......I know my life is boring 🤢
@ben Hedges you mention getting a benefit for MGM in Las Vegas. Marriott purchased that them and so now it’s part of the Marriott Bonvoy program which Amex already covers.
Right, but have a look around the reciprocal benefits, Marriott gold does not convert to MGM gold
Too many rumors suggesting Gold card getting fee bumped to 350 and getting Resy credits. I guess it will be the end of that for me
Why would u have gold anyways. lol. It’s for 🤡 and grifters.
350???
I ain't paying that
If it goes that high, then I will probably try to product change to another card.
Resy credits are useless to me. So IMO I will just see the $100 increase as higher prices/inflation. Definitely will devalue the card for me.
Welp I guess I’m switching to chase 🤷🏽
Chase is extremely dishonest.
I left the Amex three ring circus years ago no regrets
All the changes they made over the last year were not very well received. The CEO may be a bit out of touch unless the plan is to sweeten the benefits that actually make consumers willing to pay the fee increase. That has not happened thus far.
I will cancel my gold if they hit it no way I will pay $400 plus
Yes they are. Ever higher annual fees coming with more pre-paid monthly and quarterly credits that you have to keep track of and remember to use.
On my current trip through sfo I couldn’t get into a centurion lounge and three priority pass lounges so that was a failure on American Express there.
I couldn’t get in either! I was piss!
I'm fine with an annual fee increase, as long as it comes with oversized value. I also OK with quarterly credits. I just canceled my Delta reserve due to monthly credits bcuz I have enough on their other cards to keep up with.
Any higher annual fees and time to move over to the chase sapphire reserve
This coupon clipping crap is not for me
I want a card for traveling purposes, not for Walmart+ and other garbage
reserve sucks too though IMO because credits don't cover the annual fee and limited lounge access (ie crappy passports...my airports passport lounge is disgusting)
Love to see some videos with people justifying a $1000 annual fee
Ha yeah. I mean you know we’ll make that video, how to do it, but as to whether it makes sense for people is down to individual situations, for most people it wont.
These cards were never worth it unless you fly all over the damn place. Chase preferred card is the best for me 😊
There's a lot of imperial marching going on at Amex...
I find their lack of restraint...disturbing.
I hope they update the cash magnet make it a 2% card
The Hilton Business refresh was better for us. We buy $50 Hilton gift cards every quarter, then get reimbursed by Hilton. The money never expires.
Good strategy
Can you make a video about this?
Did this, too.
Do u buy the gift card online or from a hotel directly?
You seem to be in the know about Credit Cards. I keep seeing post for The AMEX Neon Money Card. WTH is this?
We need cards that enhance our lifestyle and travel, not lifestyle and travel that caters to the card. I'm sure whatever they do will be profitable for them, but those of us in the game should be objective in the value we're truly getting without puppet strings.
Definitely there’s something I would appreciate the centurion lounge Guest Pass
I have my Amex Platinum because I travel a lot. I hope they don't add more city life stuff that I will never use.
He's right, they can raise it as high as the 'value allows'. The issue is they won't know what that is until they cross that line. Then won't want to lower the fee, so will be kinda stuck at that point. I have a business platinum, so the company pays the fee, but $1000 will be hard to justify.
This will be the last year with my Delta SkyMiles Platinum American Express Card. It’s just not worth it anymore. I will stay with the Chase Sapphire Preferred® Card.
Will you downgrade/product change to the Delta Skymiles American Express Blue card?
When they raise the fees, do we who have the card already get grandfathered in ?
Until the next renewal date
Let's also remember that Amex is not widely accepted everywhere. Retailers are getting hammered with processing fees which they have passed down to the consumer. I would need a R.O.I. of at least $4k to $5k to justify a $1k annual fee for the Platinum card. Along with my Amex Gold, I keep a Chase Sapphire Preferred as a backup for when Amex is not accepted.
There are lots of credit cards out there besides amex
1k a year + $60k minimum spend requirement if they really want to make it feel exclusive.
Adding Hyatt as a partner would go a long way to getting me to apply for a Platinum over the CSR later this year. Wishful thinking?
hopefully there will be less people in lounges. Military should only get AmEx Gold.
Why should military only get Amex Gold?
Couldn't care less about the lounges. I have the Gold card and get some decent use out of it.
15 visits per year is still pretty solid for the average flyer .
Make travel credit easier to use, make hotel credit easier to use, add Netflix and YT Premium to entertainment credit. Increase dining and grocery multiplier. They either should want one do it all cc with a high AF or it stays in the draw most of the time.
No. I don’t what’s supposed to be emperor of travel cc to become Joe plumber’s coupon book. I want travel perks/elevated experiences. Like past, until travel based companies started doing own focused loyalty programs.
@@newagain9964 what elevated. They added Walmart. It’s already a coupon book. They’re not going back now.
Wish they would add that to the Gold. I would at least use those. The resy credit is a joke.
Please no more Resy credits
I cancelled platinum amex late ly and am cancelling my delta card tomorrow bc the value doesnt make sense right now
Which Delta card are you cancelling? I cancelled my Reserve because (A) we're no longer loyal, (B) my first Delta Stays booking was denied the credit, and (C) naturally the expanded companion pass regions are extremely limited.
@@thejokerspeaks gold. Wanted ut for the discount on reward flights but not worth it no benefits
I’m interested to see if Chase will refresh anything to add groceries. I think they have a great opportunity to cancel out Amex.
Yeah they really need that
If Chase adds a permanent grocery benefit that card will definitely be my main driver. That will definitely take the cake.
They have it on Aeroplan (3x).
I would love to see MGM gold status
Waiting for the personal Gold refresh. Won’t be surprised if it hits $300 or $350.
Hey why not $395? 😏
If they only add a resy credit and nothing else the I will either cancel the card or product change it. To what card I have no idea.
Amex better not drop the ball here with these refreshes. 🥴
Well, yes. Amex wants 2 things: more swipes to earn interchange fees, preferably at 1x MR, and for you to forget to earn your credits.
More credits = more forced swipes. Ever more annoying credits = more of them that are unused.
I think nearly every Platinum credit earns 1x MR when you spend to offset it, for example.
Similarly, the Brilliant going from a hotel credit to a dining credit means you went from earning 6x to 3x on that spending, and it turns 4x MR spending on the Gold (assuming most Brilliant holders have a Gold) into far less valuable 3x MP on the Brilliant. I’d bet Marriott really didn’t like that change either, because it drove spending away from them.
I just pray Chase doesn’t copy them.
Amex is Greedy , Greedy, Greedy Gretchen.
Just Like Starbucks and Disney the more people want their Products the more The Greedy Corporations raises their Prices .
I wouldn't get my hopes up with any great new benefits for a refreshed Platinum. Amex doesn't issue co-branded cards with Hyatt so I don't see their hotel status being added to the Platinum. What will probably be done to justify the increase in annual fee is more coupon book credits with whatever businesses want to partner with them.
I see the same thing happening for a refreshed Gold card. They could raise the AF to $350, replace the $120 dining credit with a $240 Resy credit, keep the $120 Uber credit and then market how the credits more than pay for the new higher annual fee.
I personally will take the Resy credit over the current dining credit on the Gold. I have multiple Resy restaurants around me. Way better that the markups I get from Grubhub.
Hmm, Everyone in PUJ all of Q4 then, they open up the SUB in Q1 and credit all the new sign ups to their refresh?!?!
Refreshes drives all of those things IF you benefit the customers. Not take away benefits 😂
My main concern is if other issuers follow what AMEX is doing with increaseing fees and adding credits. Not what I'm intrested at all...
Ppl need to close their Amex accts 🙏
Amex playbook : they will rather make more money from high earners than the small guys . I mean, what is unique about the Centurion Card ? Nothing …. But people holding the centurion card are shelling lots of money to hold onto the card
I am so glad i dont play the credit card game at all, no debt score for me
If they want to see more customers they need to lower the prices on the credit cards & on their own spending instead of making the customers pay for having great credit and being responsible about making sure they repay their bills. I have the green card but its nothing to keep around either.
Im down for it.. 1k I can only imagine the perks
I'm surprised you didn't mention the personal gold card. For sure that card is getting refreshed and its definitely gonna have the resy credit. IMO the only way they salvage that move is to give a $15 dining credit that includes resy restaurants and give an extra 1x on resy restaurants as well. They'll probably keep the uber credit at $10 and then make the annual fee $325 making the effective af $25. Anything other than this change will basically have everyone drop their gold card
No, Resy and Uber credits value is $0. The restaurant credit I value at $60 per year, so EAF is $190 right now, that's why I cancelled it in 2022 after ther replaced airline credit with useless Uber.
Only way I would pay a higher AF is if they made it 6x at restaurants and take out. The resy credit does absolutely nothing for me.
Time to cancel the card if the fee increases 😅
Im def going to cancel if the personal plat goes up to $1k but credits and benefits that could offset that annual fee ill keep for one more year
Y’all bunch of parrots and 🤡. Clown parrots. 😂
I honestly don’t care and I thank channels like this for that. Because I have cards spread across so many bank and run multiple travel setups I’ll just simply move on from AMEX if I can’t get value out of the cards I currently hold.
“Refresh drives engagement” because all UA-camrs have to explain what changes.
I bed the gold card will be refreshed soon as this one too has been a while. Seems like the “value” is being diminished .. and have primarily been using my Hilton aspire as I get good benefits from Hilton and comparable “credits” to the platinum. Will see what happens!!
We are not apart of the AMEX base. We are the minority who try to maximize credit card and their benefits
Fax. 99%+ card holders aren’t watching these vids.
$1000 hotel credit
I wonder what’s going to happen to the BCP / BCE
Hopefully they don't touch those.
Amex's product refresh = raise price$
Good. Raise the price and make the plat a card for travelers again. 👍
If my business American Express platinum goes up again then I'll cancel. Their poor service doesn't justify the yearly cost!
AMEX just needs a card between the Plat and Centurion. Period.
Raise it and give us hyatt globalist!!!😂
Lmao I wish
So, Amex has figured out how to spend more of your money for you.
Lol I am out
$1000 for Platinum? It would be a no, unless:
1. Bring back audible! The $240 credit is useless without it. Increase UBER credit to $20 per month.
2. Make everyday purchase a 2X category instead of 1X.
3. Airline points should be 6X instead of 5X: be the industry leader!
4. Point redemption must be better: If Schwab, bring back the 1.25X redemption bonus.
What is the MAX AF anyone is wiling to pay for the personal platnium?? Right now its $700, I think my max would be $850.
I’ll gladly pay $1000, but it has to make sense with increased benefits!
@@FirstHandLLC OUCH, that would hurt. Hopefully the offer REAL SOLID benefits
$1,500 AF with added monthly statement credits like Resy Restaurants, any Fitness Center membership, Amazon Prime membership, any Hotel booking, etc.
Depends what it offers. I’d pay $2k if benefits BENEFIT ME. Sadly tho, Walmart, equinox and those entertainment credits aren’t my thing.
@@newagain9964 Walmart works for me as it offers $0.10 discount on Mobil gas stations. I drive a lot and it saves me roughly $150 per year.
lol same story different year....people will continue to pay for what many describe as a "coupon book". I suppose it's material people can use to get views, but other than that, nothing really new to see here
Nope don’t need it.