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AMEX Chargers- Are they still worth it?

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longtimelurker
Epic Contributor

Re: AMEX Chargers- Are they still worth it?

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.

Message 21 of 30
CreditScholar
Valued Contributor

Re: AMEX Chargers- Are they still worth it?


@longtimelurker wrote:

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.


+1. I'd value MR at closer to 2c, and anyone redeeming it for 1c isn't doing it properly. Remember that MR is best for those who transfer directly into FF programs. Everyone else would likely be better served by a cash back card.

 

Part of Amex's gamble with the ED cards is that they're assuming many in their target demographic won't redeem MR for what its really worth. Whether or not this actually happens is another story. This is similar in many ways to the gamble they took with the Zync, and we all know how that turned out for Amex.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 22 of 30
Fico2Go
Established Contributor

Re: AMEX Chargers- Are they still worth it?


@longtimelurker wrote:

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.


LTL, the fidelity amex card requires moving investement accounts to BOA fidelity.  Not an option for me at this time as I am happy with my current place.  Not too much worse.  Smiley Happy

 

Where and how are u able to redeem at 2C or higher?  I have found this to be quite inconvenient almost a hassle.  This is why I mentioned earlier that the 3 MR for airlines is the best reason for me to keep PRG.  The 2 MR per $ spent is the minimum for me to hold onto any card and would be great if conversion at 2C were easily and conveniently achieved.

 

 

 

 

 

 

 

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 23 of 30
CreditScholar
Valued Contributor

Re: AMEX Chargers- Are they still worth it?


@Fico2Go wrote:

I would disagree with some of the arguements against PRG.  I have noticed that the card does make people look closer at you as a user. 

Conversely you are also likely to be asked for an ID if u are not dressed appropriately to "match?" the profile of a PRG amex user. 

 

Having said all that this prestige thing with PRG and amex charge cards is a false benefit unless the NPSL in someway benefits you. 

I personally have a PRG and will be keeping it simply for the rewards of booking flights and the NPSL feature. 

 

Thanks PRG for my free 25K points but thanks even more to my newly approved AMEX BLUE card with 5% cashback after $6000 initial spending.   

 

 

 

 

 

 


This is highly-location specific. In some parts of the country an Amex might be considered prestigious, but in high SES metropolitan areas it's not really a big deal at all. For some demographics it's automatically assumed that you have one, and the only question is what colour is it: platinum or black?

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 24 of 30
Josh2942
Established Contributor

Re: AMEX Chargers- Are they still worth it?

I like the ability to have NPSL when I need it and I think 175 dollars is a low price to pay for it. But I would trade it for a CSP

Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business
Message 25 of 30
CreditScholar
Valued Contributor

Re: AMEX Chargers- Are they still worth it?


@Fico2Go wrote:
Amex Everyday the new face of Amex?

@I beg to differ. Even with the annual fee there is a competitive advantage the prg offers when it comes to booking airline tickets @ 3% MR.

@Anonymous 2% MR @ $30,000 spend u could earn $600 worth of rewards. Add another 15,000 bonus that equals $750.

Well worth the AF and NPSL convenience.

If u were to spend $30,000 a year with everyday card what could u earn?




I have to agree with the previous poster in that this is the new face of Amex. It doesn't mean that it's completely replacing the old model, but Amex has realized that it cannot survive in the long-term without capturing more of the "mainstream market". The ED cards represents their shift from only occupying the upper-end to that plus more of the middle, and this is out of necessity.

 

Previously Amex had a virtual monopoly on the upper-segment, but now others like Chase have come in and taken quite a bit of marketshare. The ED cards is part of Amex's response to compensate for those losses. It's clearly a company in decline IMO.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 26 of 30
dta
New Contributor

Re: AMEX Chargers- Are they still worth it?


@Fico2Go wrote:

LTL, the fidelity amex card requires moving investement accounts to BOA fidelity.


You don't need to keep any investments at Fidelity to have the card, just an open cash account to receive (and then transfer out, if you wish) rewards.
Freedom | BofA CR | Amex BCE | NFCU CR | CSP | Fidelity Amex | Citi AA Plat | Discover it | Amex PRG | US Airways Prem | SW RR Plus | Delta Gold | Citi Double Cash | WF Propel 360 | Chase BA
Message 27 of 30
longtimelurker
Epic Contributor

Re: AMEX Chargers- Are they still worth it?


@Fico2Go wrote:

@longtimelurker wrote:

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.


LTL, the fidelity amex card requires moving investement accounts to BOA fidelity.  Not an option for me at this time as I am happy with my current place.  Not too much worse.  Smiley Happy

 

Where and how are u able to redeem at 2C or higher?  I have found this to be quite inconvenient almost a hassle.  This is why I mentioned earlier that the 3 MR for airlines is the best reason for me to keep PRG.  The 2 MR per $ spent is the minimum for me to hold onto any card and would be great if conversion at 2C were easily and conveniently achieved.

 

 

 

 

 

 

 

 

 


The Fidelity Amex doesn't require moving investments, you can open a Cash Management Account without that.

 

What was the hassle in redeeming at 2c+?  Finding availability?

Message 28 of 30
Fico2Go
Established Contributor

Re: AMEX Chargers- Are they still worth it?


@longtimelurker wrote:

@Fico2Go wrote:

@longtimelurker wrote:

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.


LTL, the fidelity amex card requires moving investement accounts to BOA fidelity.  Not an option for me at this time as I am happy with my current place.  Not too much worse.  Smiley Happy

 

Where and how are u able to redeem at 2C or higher?  I have found this to be quite inconvenient almost a hassle.  This is why I mentioned earlier that the 3 MR for airlines is the best reason for me to keep PRG.  The 2 MR per $ spent is the minimum for me to hold onto any card and would be great if conversion at 2C were easily and conveniently achieved.

 

 

 

 

 

 

 

 

 


 

What was the hassle in redeeming at 2c+?  Finding availability?


yes.   It's not as easily done.

 

 

 

 

 

Discover IT $19,000 == 12/2013
AMEX 12/2013 ---BCP $12,000 === BC $23,000 ----- 04/2014
CHASE SLATE $5,700 === 12/2013
BoA 123 $6000 === 12/2013
Barclay Rewards $1500 == 12/2013
Message 29 of 30
CreditScholar
Valued Contributor

Re: AMEX Chargers- Are they still worth it?


@Fico2Go wrote:

@longtimelurker wrote:

@Fico2Go wrote:

@longtimelurker wrote:

Many value MR at more than 1c, often 2c.  So that makes the non-category EDP 3% equivalent.   This is of course contingent on redeeming the points effectively, if you redeem that at 1c I agree, many better cards.  

 

And if you really value MR at 1c, PRG isn't so good either.  

 

$30K spend on anything with Fidelity Amex nets $600, in your example you get $750 - $175 annual fee (after first year) which is worse.


LTL, the fidelity amex card requires moving investement accounts to BOA fidelity.  Not an option for me at this time as I am happy with my current place.  Not too much worse.  Smiley Happy

 

Where and how are u able to redeem at 2C or higher?  I have found this to be quite inconvenient almost a hassle.  This is why I mentioned earlier that the 3 MR for airlines is the best reason for me to keep PRG.  The 2 MR per $ spent is the minimum for me to hold onto any card and would be great if conversion at 2C were easily and conveniently achieved.

 

 

 

 

 

 

 

 

 


 

What was the hassle in redeeming at 2c+?  Finding availability?


yes.   It's not as easily done.

 

 

 

 

 


What kind of redemptions are you looking for specifically?

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 30 of 30
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