Is Amex About to RUIN the Gold Card?
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- Опубликовано: 3 окт 2024
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1/3 of the video was a straight up an insurance ad
this should have been a 2 min video at max that Amex is raising AF for gold card.. no other details were shared..
😂
I literally just posted that comment and then read this 🥲
My wife cancelled her Gold in February when the AF hit, so she is an AU on my Gold. We happily get $10 for Chipotle and $10 for Shake Shack each month, so we get the full $240 + 4% on those purchases, adding $9.60, making for a 40 cent EAF. If the AF increases...
I don’t think it’s even worth the $250. The savor one card earns travel points and earn 3x on the same categories. So if your like me and get no use of the coupons you’ll need to spend $32500 to offset the annual fee
Savor One also lets you redeem for cash back without needing any other card to do so. To cash out MR points at 1 cent per point or more, you need one of the Amex Platinums (not the vanilla).
With the credits it’s worth it for me, because of the location I live in. Hopefully they don’t ruin it with Resy.
I also transfer my cash back to miles sometimes. There's also the Savor Rewards that gives the same for groceries and then 4%/4miles at dining locations, comes with a $95 annual fee but if you spend a lot then can be worth it
Facts
I agree. Recently got the savor one and it’s been just as great as my Amex gold without the fee
Savor one / Venture X combo seem to be the better alternative for the average user at this point.
I'm on the fence keeping this card as is. I already have trouble using the dining credit as I live in a rural area. A switch to a Resy credit would provide me with zero value as there are no Resy restaurants in my town, and when I'm traveling, I wouldn't be going to Resy restaurants. Just too pricey for me. A bump in the Uber credit with more flexible dining credit would work for me, but that might be a bigger ask.
BTW, any thoughts on the new Wells Fargo Attune card? 4x on some unusual categories.
I was just considering upgrading my green back to Gold. I will wait.
Completely customizable benefits that we pick would be great. I don't ever see that happening. They would limit our options as far as choices go.
I’m still waiting for a refresh on the BCP
If they add resy im out
Same
Same with me. Because I don’t think I can get value out of resy and I will either cancel if I don’t get a good retention offer or I will go back to green.
Don't know if I would want a credit. I know this card centers around dining, for me, if they added gas purchases as a 3 or 4x point category, that would make it a solid everyday expense card for me.
I have it in Mexico, the annual fee here is 450USD
En pesos en cuanto termina saliendote ya con IVA?
We know they will increase the fee, and it is clear that most holders are getting tired of the "maze" they have to navigate to justify holding their cards. I think Amex is underestimating the competitive products that are coming from the major banks that amount to good alternatives to the high annual fee Amex cards.
*AMEX straight up told me to cancel my Platinum without a retention offer*
*Refresh=intro more breakage*
I will likely cancel if the price hikes. I don’t even believe it’s worth the $250 as is.
Just got the annual fee. To close or keep and if keeping which one looks better the rose gold or the gold?
Looks like ill be stuck with the Blue Cash cards. Just switched to the Preferred.
nice update vid shifu 🤓
Ha. AMEX just got dropped by eBay. 4% fee is ridiculous. A lot of companies just can't afford that.
All other cards are 3.5% so it's a 0.5% difference
if they add Walmart as a grocery store I might keep it
The AMEX Gold isn’t worth the present $250 AF, it’s damn sure not worth the speculated $325 annual fee increase. The AMEX Gold is a $95 AF card at best but because it’s AMEX, they can get away with their outrageous not worth annual fee. AMEX charge cards have always been and will always be, status cards that have successfully convinced many that it’s worth it’s extremely high annual fees that make you jump through hoops trying to use those thousands of coupons that they know that most aren’t going to use. The AMEX Gold card is hot garbage and it’s damn near useless abroad. The card is all about the name and status and that’s why I have it 😆
I just renewed my annual fee in April and trust me if I think about canceling it, hopefully they will give me a good retention offer.
Unfortunately, where I live, we do not have a nearby Shake Shack, Cheesecake Factory, or even many Resi restaurants. Sounds like it may be time to use my Amex points up and move on.
They need to add a travel credit
It used to have an airline incidental credit, but it was replaced with the Uber credit.
my kingdom for an everyday/everyday preferred refresh
Adding a monthly $5 or $10 Resy credit would directly add $60 or $120 of value to me, so I’m personally looking forward to that. Also excited to see what other benefits they might add or revamp. 4X MR on up to $25k of supermarket and $25k of restaurant spend is pretty unmatched.
Also personally looking forward to the fee increase. If the comments are actually indicative of current card holders, there are too many people who have the Gold card but shouldn’t.
Ill hate if they add resy credit with annual fee increase… bs
A new credit would probably Walmart since it’s on the business flavor. Or the Resy. It’s just odd that it would be on both the platinum and gold. But both cards have Uber credits.
Since Amex works with businesses desperate for customers I could see a home delivery cooking service like Hello Fresh and the like.
The harder for the card holders to use the credits, the better! 😂
💯. I think it'd make more sense to see Walmart+ (I think that's what they call it) on the Gold card, what with it being a grocery card.
Thank you for the video.I have the same sentiments that you have. If I still can get value out of it then by all means, I am keeping the card.
What the heck, it’s only 30%. 🤦♀️
What annual fees? ^_^ - AD
Active Duty? You deserve your free card! Thank you.
Yeah it'll probably be time to cancel my Gold card next year if AF increases.
If they raise it, im out. Plenty of other options out there.
Oh this is about to be a pain to watch 😬
Feeling sorry for an insurance company is something I would never say. But 🤷♂️
I won’t keep it if it goes up
Actual news starts at 2:10
I'd be fine with the increase if they actually loosened up the dining credit and made it more useful like Chase does with their travel credit. But we all know they won't do that.
They made the dining credit on the Bonvoy Brilliant easy to use.
That math aint mathing for Resy credit unless its $5 a month credit 😆
I will cancel my gold if resy added. Im not driving into the city to spend $10.
Love the card but with cards like the Strata Premier and SavorOne it will difficult to justify the Gold and deal with more coupons, unless you spend $15k+ every year (opportunity cost).
Might be time to say goodbye to the Gold card and put that spend on the Strata Premier.
I think they should add another point category as well
For most people, the Gold card doesn't make sense.
I just applied for this just to get enhanced sign up bonuses. I'm not planning to pay 325 for mediocre bonus to keep this thing though.
Can't wait read all the comments from happy AmEx customers when the price increases on the AmEx Platinum Card. I'm sure some people will just downgrade back to AmEx Gold. 😅
I cancelled mine a few months ago. I used Uber, but the other credit was hard living in Montana. 10 A month at Goldbelly doesnt add up fast enough to order anything from on there.
Im guessing I could get back into the Gold if they expanded 4X on groceries to include Target and Wal-Mart and maybe Sam's and Costco. The dining credit was an actual dining credit, even if monthy, if it was a statement credit for any restaurant or delivery service. That would be better than Uber or the limited dining credit.
Just renewed at the normal annual fee and for a family of 6 dinning and Groceries are huge expenses so it works out on the math but maybe looking to Chase or Capital One more if they increase it
If the annual fee is increased, then I would hope that a Resy credit would be added to the card. Maybe $15 per month.
Noooo! Enough with the credits.
Resy is trash. The restaurants that take it are very expensive. You’re not saving much at all
I have the gold card currently and I have to keep it till August 11 since I upgraded from green and wasn’t eligible for the welcome bonus. If they give lousy credits and increase the annual fee, but the lousy credits, especially, then I’m going to cancel if I don’t get a good retention offer or I will downgrade back to green
If they would refresh the gold card and make the credits a little bit more usable instead of more like a coupon book consider applying for one the way the card currently is the credits are virtually useless to me would be nice to take advantage of the 3% groceries
Just switched to the green from gold 1 less point but i can use it to pay tolls from work and book from 3rd party sites im good with the green
Sponsor only services residents of 5 states. Message I received: "⚠ Sorry, we can't help you right now!
We can't help people in your state yet. If you are moving to CA, FL, NY, TX, or WA, please provide your new address in that state."
He sorry to hear that. But we are open about that in the ad read, we also show a map on screen with the 5 states highlighted
if you cancel the amex gold but have no other card that can keep and earn MR points, are they taken back?
You lose them. Get a Blue Business Plus to keep points alive with no AF.
Rich people do still wear Gucci.
I'm definitely going to be cancelling my Platinum card this year, so depending on what they do with the Gold it might be headed that direction too. I'd rather stick with the home run cards that offer a single valuable benefit (free night, companion fare) that I can easily utilize and cover the cost of the card with the other smaller benefits. The Gold in particular kind of forces you to go out and spend money in order to benefit from the credits, which I'm starting to get weary of.
I just recently did a video about the rumored annual fee increase and a few ideas of what could be done to make the increase worth it. I am sure it will be another coupon like a Resy credit that will be not so easy to use.
I literally do not understand how resy works let alone resy credit since u just make reservations on resy
My gold just renewed and I paid the $250 since I tolerate the two monthly food credits and it’s not hard to use. So for $10 annually I’m okay with it. But I am tired of jumping through hoops. They will refresh the card and raise the AF with a dumb credit. Only credit I’d tolerate is a streaming credit.
Hoping for everyday preferred to get a nice refresh and maybe I’ll get that to stay on the MR point structure. But if they force me to cancel the gold I will liquidate the MR points and be fully at chase!!
If Amex makes these changes it’s getting axed from my setup. I already downgraded my Platinum to a Green. I really hate their snooty attitude and elitism and their intentional strategic disdain for their customers. They want everyone to feel impostor syndrome for “not being rich enough” and always spend more, no matter who they are or what their financial situation is.
👍
I would prefer them making it $350 and giving a clear credit rather than the likely $10 Resy credit
Unpopular opinion: the Platinum should be $995 and should get 3x on dining and 1.5x everywhere with a few more credits added
That would significantly help with Centurion Lounge crowding
Do this, and I'd cancel my other 14 cards immediately. I suspect everyone other power user would too. It's not economically viable, though.
@@breichow76 it's $1000
And they would greatly increase their swipe fees/user
1st
I would probably cancel it if they add the RESY credit.. Live in las vegas, and the resy credit is useless hree. There's 6 restaurants here that are on resy.
$325 AF would move the 2% cash back break-even from $12.5k to $16.25k. I max out the Uber credit, but never touch the niche dining credits like Cheesecake Factory so I can't count that as an offset. I earned 72k and 63k in 2022 and 2023 so I'm still very net-positive on the ROI, but $325 would be a hard pill even with a hypothetical Resy credit since a lot of places I dine aren't Resy places. I'll probably keep it, though, but I won't be happy. I'd consider fishing for a retention bonus, but they'd probably offer me 20k points for $6k spend in 45 days.
Free 2% cashback cards for teh winz
Brother, your commercial is 1/3 of your video…
I canceled after 2 years of using it. Flew more than 10 flights in 2 years . Booked the hotel through Amex and delta skymile. Not worth it!!
Canceling my gold and staying with Strata. Can't justify the annual fee anymore.
Amex everyday preferred is better. Considering you’d pair it up with other cards, like the Freedom, discover it, throughout the year. It also has gas, and gives 4.5x grocery, 3x gas, and 1.5x everything else.
Yea you gotta use it 30 times a month so you're spending more than you realize and if you don't it's what? 1x
Resy credits wouldn’t be so bad if they gave it on an annual basis and not split monthly.
Good thing i just got my blue business plus 2 months ago so if i cancel i keep my points
Gold is good for a SUB, 2nd year retention offer then cancel. I do not wish to be on the AMEX fee merry-go-round with credits that I need to work at getting value.
If they do it I’m cancelling it and getting capital one
Not worth, cancelled kong time ago, after they replaced airline with uber, which I value at $0.
If they gave its everything the green card has and just nerfed the green card slightly so it has no annual fee
They need to fix that trash biz green card it’s a joke!!!!
I can not wait to cancel my gold card and finally be out of the amex ecosystem later this year 🥳🗑️
They should roll the Green into the Gold.
well, at least they won't increase the fee by almost $300, like they did the Platinum. It's about time Gold got theirs increased; YOUR TURN!