I love my Amex Gold, but these days, I’ve been working on SUBs so it hasn’t gotten as much use as it should. Great tips on using the Gold card here Chase!
I appreciate you breaking down how the credits actually work as well as how much you need to spend per year to get your AF value in points. I think this card would definitely work for me. Also with me being a Delta flyer the points would just mean more with the new takeoff 15 from Delta. Thank you so much for this detailed breakdown.
Love the transparency here... both with the referral link situation and the credits being forced. This can be a great card, but only if it makes sense for our particular spend situations. Great video Chase!
Lol! Love the honesty “my mathing isn’t the best, that’s why I became a youtuber” 😂🤣. I think I may have messed up with my Grubhub credit this month. I literally thought I used it already for the month until I checked my account. I get around the delivery fee and tip by ordering for pickup. It makes sense for me since I live within walking distance to many restaurants. Granted, the menu item is typically about $2 more, so I look at those credits as more of an $8 credit. Great video Chase 👍🏾
Problem with break even calculations is you have to spend $6000 to get back to $0, where you’d already be if you used a free or low annual fee card. Put the same spend on a free card and you do better. So only worth it in my opinion if you use the credits well unfortunately
You’re still spending time and gas you wouldn’t otherwise spend. People jump through hoops to justify these credits. 99% of people I know that say it’s organic are full of it. They only do it to justify loaning $250 to a bank…which is what an AF is. It’s a fee-free loan to a bank. And you only get paid back in super specific gift cards that you can only use $10 a month.
What's funny is... I can use my 2X card to buy discounted Airline points... that I can later transfer at a high value... and also take those 2X points and transfer them. And I can get 15X spending a fraction of the $$$.
I try to do that as much as possible. It definitely helps bring down the costs. Still gotta pay the inflated food delivery prices tho on the item itself.
I don’t think I’ve heard anyone answer this in a video yet, but if you get the gold/plat cards and then cancel them in Y2, can you still transfer the points out to travel partners on cards like the Everyday ??
Liking the card so far, but the restaurant classification is tricky. It did not include many that you would normally think as restaurants. Here are a few that do not classify as restaurants and kept getting surprised getting only 1X: neighborhood cafe with food options like sandwiches, soups, desserts, a sit-in boba place, a simple bakery with sit-in for deserts, coffee, sandwich place with sit-in near my office. I am getting the hang of it, but going from 4X to 1X is very disappointing. Same goes for some neighborhood groceries, like some ethnic grocery shops or smaller stores. It needs to be a 'supermarket'. I do it in proper upper end restaurants on special occasions, family visiting or travel, etc. However, my regular spend on restaurants is smaller neighborhood places and that is a lot of spend that is just 1X. I have seen that my Hyatt card marks them as 2X for dining. If in doubt, just my Venture X is 2X everywhere. Most likely my AmEx Gold is not getting renewed 2nd year.
Most of the credits don't apply to my use. Currently the CFU I got has first year 5x groceries bonus and dinning x3. Add the flex to duplicate rewards second year. No AF. Then use them with a Saphire card. This would work for the first 2 years. I get the need to build points for a Amex card set up. For me it would cost at least $200 of the AF. The restaurant credit for places like cheesecake factory is a 45 min drive.
Quick question Chase, if you had to pick between the C1 Savor and the AMEX gold which would you choose? The gold annual fee I don't see as too much of an issue as I plan to use all the credits.
I cook at home 95% of the time and rarely eat out or try not to to stay lean & mean. I am using Chase freedom flex and getting 9% on groceries Q1 . I actually downgraded my Amex blue cash Preferred. In November when my 5% on groceries with CFF is over I will use my Verizon visa signature card for groceries or get the Gold and that 90k offer if still around
Hey Yokoyama, Love your videos, very honest and informative, keep up the good work. So I've been considering applying for the AMEX Gold Card and I find myself torn between two offers. The first one is through referral links, which offers a reward of 90,000 points after spending $4,000 in the first six months. The second one is a deal from Resy, where I would earn 75,000 Membership points after spending the same amount in the same timeframe, and also receive a 20% statement credit on restaurant purchases, potentially amounting to $250 back in my first year of Card Membership. I'm under the impression that this $250 could be viewed as the equivalent of an extra 25,000 points, making it a total of 100,000 reward points. So, I'm essentially comparing a straightforward reward of 90,000 points with no conditions, to a potentially larger but conditional reward of 100,000 points. I'm keen to hear your thoughts on whether I'm interpreting these offers correctly and which one you think might be more advantageous for me.
That's a great question. 👏🏼 Here's my breakdown: Amex points are valued at 0.6 cents per point for statement credit instead of 1 cpp. So you are actually receiving the equivalent of around 41,666 points with the $250 worth of statement credit ($250 / 0.006 = 41,666). So that brings your total points for a SUB with a condition to 116,666 points. This is only if you can for sure spend $1,250 in 12 months at restaurants. That is the total amount of spend you need to receive the full $250 back. However if you know you can redeem your Amex Points at a 2cpp then the 90,000 point SUB = $1,800 (90,000 * 0.02 = $1,800) and the 75,000 SUB = $1,500 (75,000 * 0.02 = $1,500) + $250 statement credit = $1,750 of value. So the 90,000 SUB comes out ahead. And the higher cpp you actually receive will just make the 90,000 SUB worth more and more than the 75,000 SUB. BUT if you just receive a conservative 1cpp redemption value on your points then the 75,000 offer is better. 75,000 * 0.01 = $750 + $250 statement credit = $1,000. Versus the 90,000 * 0.01 = $900. Not sure if this confused you or made it a harder decision 😅 But the Resy offer is the "safer" route because you aren't forced to get 2cpp on your amex points when you redeem them. Personally I would go with RESY because its much easier to get value from since there's no pressure to use my points for 2cpp.
The AF is the reason why I don't really care to be an Amex Platinum holder. I don't aspirationally travel enough. Also, Clear / TSA Pre check are not annual renewals so why am I paying $695 annually as justification if this isn't an annual benefit? If I get it I'll get the business version when my needs require it and when there is an awesome SUB
I totally get your stance on the annual fee 👏🏽 It's a smart move to hold off on the Amex Plat until you can justify the spend. The Clear benefit however is an annual fee and the TSA Precheck / Global Entry are not. However TSA Precheck / Global Entry memberships last for 4 - 5 years and this card will cover it every time you need to renew.
Great info. However, all the CC info I've seen so far with all the benefits, points, returns and such are for "in the USA use only". Is there a card that would give you bare benefits like no foreign transaction fee but also give your extra points or Cash Back % during foreign transactions? Otherwise, all these "travel cards" are just travel in the US cards really!!!
The restaurant category is good for 4x on international dining. But a card like the Capital One Savor One will earn bonus points on international charges.
Getting this today, excited, got 90k points for signing up. Spend 30k+/yr on food/drinks. Seems useful. Credits not so much -- maybe aside from Uber and the occasional Cheesecake (like 3-5x yr at most)
I think you misspoke when you said for restaurant delivery and carryout you only get 4X in the USA. I can verify that I get 4X ordering FoodPanda delivery in the Philippines, paid in Php, and of course no foreign transaction fees. Thanks for the video! You always do a great job!
Question about the dining credit I made a purchase and it’s posted in February 26th the credit will not post until March. Will that still count towards February? Great video!
In addition to the standard 60K bonus, AMEX also has a 75K and 90K bonus, currently. I know this because I've had all three offers presented to me by AMEX this week. So hold out until you get the 90K offer. But being as how I already have a solid travel card and I don't eat at restaurants or use Uber eats, I just couldn't see the card being a winner for me.
Great video, Chase! I spend, at a minimum, at least $1,600 / mo on groceries and dining so the Gold card works for me no matter the math. It is the work horse of my wallet.
Can anyone tell me if the Chase Sapphire Preferred holds a "perks advantage" over the Amex Gold Card? The Amex Gold Card and the Chase Sapphire Preferred, are on my "financial goals" list for 2023. I'm really wanting a Chase Sapphire Preferred. However, I'm on the "5/24" probation until November of this year Right now Amex is offering an intro of 190,000 bonus points for the gold card. I applied last night and was approved, but I didn't accept the offer yet. The only reason I didn't accept, is because I'm on the fence on if I should hold out until December and get the Chase Sapphire Preferred, or if I should go ahead and accept the current gold card offer because of how many bonus points they are currently offering.
Personally I would go with the gold card. Especially if you got a 190,000 point sign up bonus! but even the 90,000 sign up bonus (which I think you meant to say) is SOLID. Your current setup and spending habits could alter the situation tho. For example, if you get the Amex Gold, when will you be under the 5/24 rule again? Or do you have other Chase credit cards now? Do you spend a lot on groceries and restaurants. But ultimately though I think I would grab the gold first in this situationl.
@Chase Yokoyama thank you for responding. Yes, I meant 90,000 MR points. I got the points mixed up with the platinum offer which was 150,000 MR points. If I take the plunge on the Gold card, then I will be on the "5/24" until April 2024.
I was debating gold vs platinum, but the way lower annual fee and the restaurant and grocery store points alone make it a better value and a better daily card, the platinum only better for travel
@@ChaseYokoyama If AmEx would add 3x or 4X dining to Platinum, it would be the clear winner to me. For now, I use Delta Platinum or Chase SP for restaurants
Everybody has local restaurants they use. Just use the Uber and Dining credits, but select Pickup. Do it on the weekend. Do it on the way home. It's effortless. On holiday weekends there are extra discounts so just do a pickup. I got an extra $30 off on Memorial Day weekend. Here's what I have: AMX Gold UberEATS & Dining $240 Capital One SavorOne Uber1 $120 Chase Sapphire Pref DoorDash $120 That's $480+ in value. So everything is well paid back and Chase Sapphire still gives me a $50 Hotel Credit. It's really easy.
I love my Amex Gold, but these days, I’ve been working on SUBs so it hasn’t gotten as much use as it should. Great tips on using the Gold card here Chase!
oooo you on that SUB Grind! 💪🏼
I appreciate you breaking down how the credits actually work as well as how much you need to spend per year to get your AF value in points. I think this card would definitely work for me. Also with me being a Delta flyer the points would just mean more with the new takeoff 15 from Delta. Thank you so much for this detailed breakdown.
Thank you for watching Isaiah! 👏🏼
Love the transparency here... both with the referral link situation and the credits being forced. This can be a great card, but only if it makes sense for our particular spend situations. Great video Chase!
lmao thank you Josh 😂
I downgraded the Gold to the Green that I can better justify for my spend and travel.
whatever card fits your needs better! 🏆
I think if you can use the credits, it’s a great card to get!
I agree 👏🏼 gotta get ur monthly uber and dining credit fix.
Don’t you know you can use the Uber and dining credits for pickup orders?
yes I do 😬 but sometimes laziness clouds my judgement
Lol! Love the honesty “my mathing isn’t the best, that’s why I became a youtuber” 😂🤣.
I think I may have messed up with my Grubhub credit this month. I literally thought I used it already for the month until I checked my account.
I get around the delivery fee and tip by ordering for pickup. It makes sense for me since I live within walking distance to many restaurants. Granted, the menu item is typically about $2 more, so I look at those credits as more of an $8 credit.
Great video Chase 👍🏾
hahaah 😂 ya pickup is the smart way to go 👍🏽 I wish I was walking distance from a bunch of restaurants 😳
Problem with break even calculations is you have to spend $6000 to get back to $0, where you’d already be if you used a free or low annual fee card. Put the same spend on a free card and you do better. So only worth it in my opinion if you use the credits well unfortunately
Correct. With an annual fee card, you are just "climbing out of a hole" until you break even.
Correct. With the Gold card’s $10 eAF, you are just “racking up” until you’re a MR points pimp.
cant you use ubereats or doordash credits and pickup to avoid all those fees?
You’re still spending time and gas you wouldn’t otherwise spend. People jump through hoops to justify these credits. 99% of people I know that say it’s organic are full of it. They only do it to justify loaning $250 to a bank…which is what an AF is. It’s a fee-free loan to a bank. And you only get paid back in super specific gift cards that you can only use $10 a month.
yes you can use pickup instead to save on those fees. You still also pay the inflated food delivery price on the item tho.
I just got the 90k SUB, crazy offer and super fortunate to get it.
pretty solid! 🔥 go get them MR points!
I think you can just pick up the food by yourself with Uber
yes very true 👏🏽 definitely saves on pickup fees. In fact thats how I used my Grubhub dining credit today
What's funny is... I can use my 2X card to buy discounted Airline points... that I can later transfer at a high value... and also take those 2X points and transfer them. And I can get 15X spending a fraction of the $$$.
have you thought about picking up your takeout?
I try to do that as much as possible. It definitely helps bring down the costs. Still gotta pay the inflated food delivery prices tho on the item itself.
I don’t think I’ve heard anyone answer this in a video yet, but if you get the gold/plat cards and then cancel them in Y2, can you still transfer the points out to travel partners on cards like the Everyday ??
just got a credit increase , any advice ?
Try and keep your credit use the same. That way your credit utilization goes down. Just because you have more credit doesn't mean you have to use it.
Liking the card so far, but the restaurant classification is tricky. It did not include many that you would normally think as restaurants. Here are a few that do not classify as restaurants and kept getting surprised getting only 1X: neighborhood cafe with food options like sandwiches, soups, desserts, a sit-in boba place, a simple bakery with sit-in for deserts, coffee, sandwich place with sit-in near my office. I am getting the hang of it, but going from 4X to 1X is very disappointing. Same goes for some neighborhood groceries, like some ethnic grocery shops or smaller stores. It needs to be a 'supermarket'. I do it in proper upper end restaurants on special occasions, family visiting or travel, etc. However, my regular spend on restaurants is smaller neighborhood places and that is a lot of spend that is just 1X. I have seen that my Hyatt card marks them as 2X for dining. If in doubt, just my Venture X is 2X everywhere. Most likely my AmEx Gold is not getting renewed 2nd year.
Fair point. That restaurant classification can be tricky. I feel your pain in expecting 4x but it just gives 1x 😔
Most of the credits don't apply to my use. Currently the CFU I got has first year 5x groceries bonus and dinning x3. Add the flex to duplicate rewards second year. No AF.
Then use them with a Saphire card. This would work for the first 2 years.
I get the need to build points for a Amex card set up. For me it would cost at least $200 of the AF. The restaurant credit for places like cheesecake factory is a 45 min drive.
that groceries bonus on the Freedom cards are sooooo clutch 💪🏼 very solid cards in general as well.
Quick question Chase, if you had to pick between the C1 Savor and the AMEX gold which would you choose? The gold annual fee I don't see as too much of an issue as I plan to use all the credits.
If you can use the credits on the Amex Gold without changing your spending habits too much I would go with the Amex Gold.
I cook at home 95% of the time and rarely eat out or try not to to stay lean & mean. I am using Chase freedom flex and getting 9% on groceries Q1 . I actually downgraded my Amex blue cash Preferred. In November when my 5% on groceries with CFF is over I will use my Verizon visa signature card for groceries or get the Gold and that 90k offer if still around
Yuh there are SOLID no annual fee food reward multiplier options out there 👏🏼
same!
I may have missed it but I don't think you mentioned amex offers. I've gotten back more than the annual fee in Amex offers so far in my first year.
Good catch I did not mention Amex offers in this particular video 👍🏽 Thank you for bringing it up as it can help with annual fee Amex cards
I never have Uber East delivered, I always pick it up to use my credit
Always a smart move 🧠 saves so much on fees.
Use the pick-up option for the food.
this is the way 👏🏼
Hey Yokoyama, Love your videos, very honest and informative, keep up the good work. So I've been considering applying for the AMEX Gold Card and I find myself torn between two offers. The first one is through referral links, which offers a reward of 90,000 points after spending $4,000 in the first six months. The second one is a deal from Resy, where I would earn 75,000 Membership points after spending the same amount in the same timeframe, and also receive a 20% statement credit on restaurant purchases, potentially amounting to $250 back in my first year of Card Membership. I'm under the impression that this $250 could be viewed as the equivalent of an extra 25,000 points, making it a total of 100,000 reward points. So, I'm essentially comparing a straightforward reward of 90,000 points with no conditions, to a potentially larger but conditional reward of 100,000 points. I'm keen to hear your thoughts on whether I'm interpreting these offers correctly and which one you think might be more advantageous for me.
That's a great question. 👏🏼 Here's my breakdown:
Amex points are valued at 0.6 cents per point for statement credit instead of 1 cpp. So you are actually receiving the equivalent of around 41,666 points with the $250 worth of statement credit ($250 / 0.006 = 41,666). So that brings your total points for a SUB with a condition to 116,666 points. This is only if you can for sure spend $1,250 in 12 months at restaurants. That is the total amount of spend you need to receive the full $250 back.
However if you know you can redeem your Amex Points at a 2cpp then the 90,000 point SUB = $1,800 (90,000 * 0.02 = $1,800) and the 75,000 SUB = $1,500 (75,000 * 0.02 = $1,500) + $250 statement credit = $1,750 of value. So the 90,000 SUB comes out ahead. And the higher cpp you actually receive will just make the 90,000 SUB worth more and more than the 75,000 SUB.
BUT if you just receive a conservative 1cpp redemption value on your points then the 75,000 offer is better. 75,000 * 0.01 = $750 + $250 statement credit = $1,000. Versus the 90,000 * 0.01 = $900.
Not sure if this confused you or made it a harder decision 😅 But the Resy offer is the "safer" route because you aren't forced to get 2cpp on your amex points when you redeem them. Personally I would go with RESY because its much easier to get value from since there's no pressure to use my points for 2cpp.
The AF is the reason why I don't really care to be an Amex Platinum holder. I don't aspirationally travel enough. Also, Clear / TSA Pre check are not annual renewals so why am I paying $695 annually as justification if this isn't an annual benefit? If I get it I'll get the business version when my needs require it and when there is an awesome SUB
I totally get your stance on the annual fee 👏🏽 It's a smart move to hold off on the Amex Plat until you can justify the spend. The Clear benefit however is an annual fee and the TSA Precheck / Global Entry are not. However TSA Precheck / Global Entry memberships last for 4 - 5 years and this card will cover it every time you need to renew.
Great info. However, all the CC info I've seen so far with all the benefits, points, returns and such are for "in the USA use only". Is there a card that would give you bare benefits like no foreign transaction fee but also give your extra points or Cash Back % during foreign transactions? Otherwise, all these "travel cards" are just travel in the US cards really!!!
The restaurant category is good for 4x on international dining. But a card like the Capital One Savor One will earn bonus points on international charges.
Getting this today, excited, got 90k points for signing up. Spend 30k+/yr on food/drinks. Seems useful. Credits not so much -- maybe aside from Uber and the occasional Cheesecake (like 3-5x yr at most)
Gah damn 😳 if you spending $30k/year on food then forget the credits lmao. Congrats on the approval! 🔥 You're gonna bankrupt Amex 🤣
I think you misspoke when you said for restaurant delivery and carryout you only get 4X in the USA.
I can verify that I get 4X ordering FoodPanda delivery in the Philippines, paid in Php, and of course no foreign transaction fees.
Thanks for the video! You always do a great job!
Thanks for the info! 🤙🏽 I appreciate you for watching
Or you can wait until you get credit score to 750 and Amex will reach out to you for a 90,000 welcome bonus.
lmao very true 😂 sign up for ALL their marketing mail and hopefully catch that elevated offer.
Question about the dining credit I made a purchase and it’s posted in February 26th the credit will not post until March. Will that still count towards February? Great video!
Yes, it will still count toward your February purchase 👍🏽
In addition to the standard 60K bonus, AMEX also has a 75K and 90K bonus, currently. I know this because I've had all three offers presented to me by AMEX this week. So hold out until you get the 90K offer. But being as how I already have a solid travel card and I don't eat at restaurants or use Uber eats, I just couldn't see the card being a winner for me.
Fair point Dena 👏🏽 if you already got a great card then u don't need another. And yes that 90k offer is REAL juicy.
Great video, Chase! I spend, at a minimum, at least $1,600 / mo on groceries and dining so the Gold card works for me no matter the math. It is the work horse of my wallet.
Thank you! 🤙🏽 It does sound like you make great use of this card.
Can anyone tell me if the Chase Sapphire Preferred holds a "perks advantage" over the Amex Gold Card? The Amex Gold Card and the Chase Sapphire Preferred, are on my "financial goals" list for 2023.
I'm really wanting a Chase Sapphire Preferred. However, I'm on the "5/24" probation until November of this year
Right now Amex is offering an intro of 190,000 bonus points for the gold card. I applied last night and was approved, but I didn't accept the offer yet. The only reason I didn't accept, is because I'm on the fence on if I should hold out until December and get the Chase Sapphire Preferred, or if I should go ahead and accept the current gold card offer because of how many bonus points they are currently offering.
Personally I would go with the gold card. Especially if you got a 190,000 point sign up bonus! but even the 90,000 sign up bonus (which I think you meant to say) is SOLID.
Your current setup and spending habits could alter the situation tho. For example, if you get the Amex Gold, when will you be under the 5/24 rule again? Or do you have other Chase credit cards now? Do you spend a lot on groceries and restaurants. But ultimately though I think I would grab the gold first in this situationl.
@Chase Yokoyama thank you for responding. Yes, I meant 90,000 MR points. I got the points mixed up with the platinum offer which was 150,000 MR points. If I take the plunge on the Gold card, then I will be on the "5/24" until April 2024.
Glad I can support a smaller creator :)
Thank you Eric! 👏🏽 🤙🏽
Chase overrated gold card Yokoyama 🤔
I'm glad these are back! 👏🏼 I missed them 😭
I was debating gold vs platinum, but the way lower annual fee and the restaurant and grocery store points alone make it a better value and a better daily card, the platinum only better for travel
Fair point 👏🏽 The gold card definitely has a better use case for reward multipliers for most people.
@@ChaseYokoyama If AmEx would add 3x or 4X dining to Platinum, it would be the clear winner to me. For now, I use Delta Platinum or Chase SP for restaurants
Lolling at math youtube joke
😂 TBF I only speak on my behalf
@@ChaseYokoyama Lololol - I'm a video editor/filmmaker and as much as I learn about finance/cards/etc, I get it. We CREATE so we don't have to COUNT.
Everybody has local restaurants they use. Just use the Uber and Dining credits, but select Pickup. Do it on the weekend. Do it on the way home. It's effortless. On holiday weekends there are extra discounts so just do a pickup.
I got an extra $30 off on Memorial Day weekend.
Here's what I have:
AMX Gold UberEATS & Dining $240
Capital One SavorOne Uber1 $120
Chase Sapphire Pref DoorDash $120
That's $480+ in value.
So everything is well paid back and Chase Sapphire still gives me a $50 Hotel Credit. It's really easy.
It's safe to say you are eating GOOD off all those credits 🔥 $30 is a solid deal you got