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Hey all, quick question. I'm fairly new to american express. I've had the AMEX Platinum card but I'm considering grabbing the Premier Gold Rewards Card for groceries, gas because of the 2x points it offers on those purchases. I plan to keep the Platinum for every other purchase I do throughout my days such as bills, etc.
What are you recommendations on this? Should I keep both or stick with the Premier Gold since Platinum is slowly taking away a bunch of their perks, or should I use this plan and stick to these 2 cards? My fees are waived since I am active duty military.
I also have a Chase Sapphire that I've had since I was 18 years old and have used their travel points extensively but I use that less and less ever since I got my Platinum. I also have two silly cards that I regret ever getting, a Best Buy card that I use for my major electronic purchases every once and a while, and a Walmart card because being active duty military, usually the only place I can shop for stuff is Walmart and I enjoyed their perks while it lasted.
Any recommendations will be appreciated. Also, what are you thoughts on having 5 credit cards? I like to have very few, however I currently have 5, with 2 being the ones I use very often. If the advice points to it, i will probably cancel one of my AMEX cards.
To calirfy my question about multiple cards: I pay off balances every month, unless I make a small purhcase on my Walmart or Bestbuy card, which I just pay off in monthly increments while taking advantage of their no interest offers.
Is it detrimental to credit to have 5 credit cards, compared to a smaller amount, or all that matters is your usage and management of each card?
You can have multiples, and if theres no fee then why not? The number of cards you have doesnt directly effect your credit score. The age and utilization are what affect it.
For those that can afford the fees (or, like you, have them waived) the Platinum/PRG combination was quite common, Platinum for the perks, PRG for the earning potential.
With the introduction of the Everyday Preferred, this is a new card that is cheaper and probably better for many than the PRG (unless having another charge card is an absolute need). However, this needs 30 uses per month, which might be hard in some active duty postings.
If you can justify the AF, its not a problem. If you have had your Platinum card for a while, .i.e. multiple years the new card may even help your credit score thanks to back dating, though for maximum backdating goodness its best to apply in January, but if you have had your platimum for 5+ years what's a 6months less backdating.
Thank you all for the quick replies.
One last inquiry.
My wife would like to join AMEX as well but we are looking for a good card that she can use without annual fees. We are currently looking at the Blue Cash because I've seen some advertisements of 6% return on groceries, etc. Any recommendations for a solid AMEX card for the wife?
@lunacris40 wrote:Thank you all for the quick replies.
One last inquiry.
My wife would like to join AMEX as well but we are looking for a good card that she can use without annual fees. We are currently looking at the Blue Cash because I've seen some advertisements of 6% return on groceries, etc. Any recommendations for a solid AMEX card for the wife?
Yup! I would definitely go with BCE for the groceries 6% and gas 3%.
@adavis425 wrote:
@lunacris40 wrote:Thank you all for the quick replies.
One last inquiry.
My wife would like to join AMEX as well but we are looking for a good card that she can use without annual fees. We are currently looking at the Blue Cash because I've seen some advertisements of 6% return on groceries, etc. Any recommendations for a solid AMEX card for the wife?
Yup! I would definitely go with BCE for the groceries 6% and gas 3%.
It's the BCP that has 6% (up to $6K spend per year) and that has an annual fee of $75. The fee-free BCE is only 3% groceries, 2% gas, and the Barclays Sallie Mae (no AF) is a much better card than that. If you can do 20 purchases a month, and really want an Amex, the fee free Everyday card is better.
Personally I would get both the PRG and ED and get rid of the Platinum since you even said they are slowly getting rid of perks. Doing so you would still save just under $200 in Af and also maximum your MR potential.
As far as you DW which card to choose from between the Sallie or ED I think that would depend on her spending pattern. Obvious you would know that better than us but you now know what both cards offer to allow you to make an informed decision.
If you have platinum I would not get Gold, I would get Blue Cash Preferred or the new every day perhaps.
for wife, BCP or Costco type card.