AMEX Fees...

[Jayb5635]

True but I'd imagine for many people here getting an Amex is a big deal since a good chunk of us there's "prestige" in finally having one of their cards. This is in contrast to, say, my girlfriend, who's had exemplary credit her entire life. Her Amex cards are not a big deal to her

[SCoach]

I don't know that I would say there is "no prestige" to an AmEx gold.  Perhaps among the very savvy there isn't, but to the common person on the street, they know an AmEx gold card isn't a fancy looking debit card either.  Even at a nice restaurant it's greeted warmly.

In my case, I was prescreed for a Gold shortly before purchasing my home.  I rejected the offer until the mortgage closed.  I recieved another generous offer and took it.  I proceeded to furnish the house with that card to the tune of about $80k.  Always paid early, and always in full.  I was traveling too, and was enjoying the concierge (got me front row to Cirque de Soleil) so my relationship to AmEx grew.  A year later I moved to Platinum.  I will let the gold card lapse this year but it's been a good card for me.

Honestly, between my Freedom/CSP and Amex Plat, I don't really want any other cards.  I'll take one more however for chip + pin for European travel and then I'll be done.

[bs6054]

Interesting figures here:

http://www.cardhub.com/edu/number-of-credit-cards/

So in the US, 282M Visa, 211M MC, 56M Discover, 54M Amex.

So Amex really aren't all that rare, even to the average joe!

[frugalQ]

Well, I got the green in April of 2012...annual fee waived. I spent enough on this card to add to my existing sky miles and got a RT ticket valued at $1,100. In my opinion, this is worth the $95 AF.

At the 1 year mark, I called to cancel my Green because I had gotten other cards and ended up getting the AF waived another year. If ever I decide to use the card again, I will not have paid any AF.

My reason for getting charge card was to get my personal foot in the door and then move on to their other products....conceptually, that's the reason for gardening.

There are many valid reasons which someone opts to pay their AF. We shouldn't make assumptions about others because they happen to use a card that does not work for our individual lifestyle.

[SCoach]

Though this appears to be a few years old, I don't think the rarity of the AmEx is what makes it "prestigious" it's more the customer who typically carries one.  Even amongs the savvy crowd here, not everyone is going to cough up the $125-$175 annual fee to carry around an AmEx gold card.  The fact that some people are, says that either they are foolish, they are wealthy, or they make a value tradeoff decision.  

Additionally, the data offered doesn't break down the AmEx cards.  I'd have to imagine there's Zync, Blue, all the revolvers, etc. in there as well.

@bs6054 wrote:

Interesting figures here:

http://www.cardhub.com/edu/number-of-credit-cards/

So in the US, 282M Visa, 211M MC, 56M Discover, 54M Amex.

So Amex really aren't all that rare, even to the average joe!

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[NJTurnpike]

Lifestyle choice? haha. I suppose that's one way to describe it. I view credit cards as serving two purposes, financing purchases I can't really afford (@ 0%), aka using someone else's money to buy something and having an emergency financial line available in case the transmission breaks down, I break a leg, etc.

The discounts, the rewards, the signup bonuses, etc are all perks that aid in maintaining my two primary goals.

[frugalQ]

Lol. Lifestyle choices....yes.

[GoldenloveNY]

"Beauty is in the eyes of the beholder". And so it is the supposed "prestige" when it comes to Amex cards.

So many businesses in NYC are aware of them. It's no big deal. A high class restaurant in Manhattan will be seeing these cards on a regular basis. Probably a black card. Of course, take out a Amex card in a "low-income" area, and well, you will be notice. It totally depends where you take your Amex out, and/or take your card. For many, Amex is a status symbol. For others, it's not. For someone unaware of how easy a Amex charge card one can get, and as that old mentality of the "exclusiveness" of Amex, they will certainty take notice of your shiny Amex card. Though a plantinum does screams "money".

The Zync, on the other hand, has people from all over taking notice because it wasn't really advertised that much. Even a high class restaurant in Manhattan most likely never came across it. I even had a waitress literally looking at it for a few seconds stunned! 

As far as the original topic, well, any AF card needs to be weighted with one's actual spending. The Platinum/PRG, as awesome looking as they are, can not be justified unless one flys a lot and pushes more than 30K through the cards. Having them while spending 1k a month just seems silly to me. But, if you have the money, and don't mind paying the AF (even though you are not getting any profit whatsoever for using the said card), well go right ahead. It's your life. Your money. I don't tell anybody what to do with their money. 

I have the Zync, and I see no reason to PC. It is the lowest AF charge card (pretty much "free" if you do the small business promo) available, and the rewards are okay for those not traveling. 

[ibmrad7]

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@GoldenloveNY wrote:

"Beauty is in the eyes of the beholder". And so it is the supposed "prestige" when it comes to Amex cards.

So many businesses in NYC are aware of them. It's no big deal. A high class restaurant in Manhattan will be seeing these cards on a regular basis. Probably a black card. Of course, take out a Amex card in a "low-income" area, and well, you will be notice. It totally depends where you take your Amex out, and/or take your card. For many, Amex is a status symbol. For others, it's not. For someone unaware of how easy a Amex charge card one can get, and as that old mentality of the "exclusiveness" of Amex, they will certainty take notice of your shiny Amex card. Though a plantinum does screams "money".

TheZync, on the other hand, has people from all over taking notice because itwasn't really advertised that much. Even a high class restaurant in Manhattan most likely never came across it. I even had a waitress literally looking at it for a few seconds stunned! 

As far as the original topic, well, any AF card needs to be weighted with one's actual spending. The Platinum/PRG, as awesome looking as they are, can not be justified unless one flys a lot and pushes more than 30K through the cards. Having them while spending 1k a month just seems silly to me. But, if you have the money, and don't mind paying the AF (even though you are not getting any profit whatsoever for using the said card), well go right ahead. It's your life. Your money. I don't tell anybody what to do with their money. 

I have the Zync, and I see no reason to PC. It is the lowest AF charge card (pretty much "free" if you do the small business promo) available, and the rewards are okay for those not traveling. 

Actually Zync has the worst rewards. I think gift cards or Amazon credit is the only way to redeem MRE points. Am I missing something?

With Platinum you get MR First points which means when you redeem them for travel/hotel etc 20% of those points are credited back to your account.

[LS2982]

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@boomhower wrote:

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@LS2982 wrote:
Its that prestige for me. Having an AMEX gold means you have good credit and not to mention that card is BALLIN'!!!!

So the AF isnt a biggie to me.

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There is no prestige to the Gold card.  Your credit doesn't have to be that great to get it.  If you can qualify for the Green card you can get the gold.  IMHO the BCE/BCP are much harder to get than the Gold card.  High 600s will get you a gold card easily. 

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