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"Why do so many people have American Express cards?"
:shrugs shoulders: Because its the only CC accepted by Costco! I don't see it as a travel card any more than my other cards. I got mine as an alternative to the other 2 brands to maximize my ability to purchase, knowing that at least one of my cards will be accepted.
Let me also turn that question around -- why do so many more people have Visa or M/C?
People talk about the credit thatyou get for global entry and airline fees. If you're savvy enough to use cards for miles and points to help defray the costs of travel, how is a consumer not savvy enough to find ways to avoid airline fees.I travel all the time and I don't pay a cent in baggage fees. The companies create a charge and then make the consumer feel good by telling them they can pay or do something special to get out of it. That's ridiculous. You've essentially paid for the baggage fees up front through Amex. $400, or whatever the amount is, still left your pocket. The value is oversstated for these products. I'm sure the execs at Amex are laughing all of the way of the bank.
Regarding the warranty, how long does it last? I broke the screen on my laptop that I purchased on Black Friday last year in August or so of this year. Would Amex have covered that?
@Roarmeister wrote:Let me also turn that question around -- why do so many more people have Visa or M/C?
Not sure if this is trolling, but I personally have my Visa for universal acceptance. Evey business where I live takes Visa. I have my MC for the interest rate.
@FutureBillionaire wrote:People talk about the credit thatyou get for global entry and airline fees. If you're savvy enough to use cards for miles and points to help defray the costs of travel, how is a consumer not savvy enough to find ways to avoid airline fees.I travel all the time and I don't pay a cent in baggage fees. Yes, its called flying business / first class, or just not checking in any luggage. International flights however do waive baggage fees for economy class as well. Some people go too far in trying to scrimp on those baggage fees which is why you sometimes see obnoxious people trying to squeeze in oversized luggage in overhead compartments. Would you have preferred if airlines do an across-the-board raise in fees for everyone? The companies create a charge and then make the consumer feel good by telling them they can pay or do something special to get out of it. That's ridiculous. A lot of things are ridiculous. Just look at your cellphone bill for instance. Compared to what cell phone companies are charging, the airlines industry doesn't seem that bad. You've essentially paid for the baggage fees up front through Amex. $400, or whatever the amount is, still left your pocket. If you are getting the card solely because you want baggage fees waived, then you are obviously getting the wrong card for wrong reasons..... The value is oversstated for these products. I'm sure the execs at Amex are laughing all of the way of the bank. They are, and so is any executive in a TBTF bank. And this is relevant because.....?
Regarding the warranty, how long does it last? I broke the screen on my laptop that I purchased on Black Friday last year in August or so of this year. Would Amex have covered that? if you broke it intentionally or by accident, then it is not covered. However if it died on its own, then it is covered. Accidentals are only covered for first 90 days of purchase. Other issuers have this coverage too. Amex just have an easier claims process.
The backdating is an awesome feature!
@enharu wrote:
@FutureBillionaire wrote:People talk about the credit thatyou get for global entry and airline fees. If you're savvy enough to use cards for miles and points to help defray the costs of travel, how is a consumer not savvy enough to find ways to avoid airline fees.I travel all the time and I don't pay a cent in baggage fees. Yes, its called flying business / first class, or just not checking in any luggage. International flights however do waive baggage fees for economy class as well. Some people go too far in trying to scrimp on those baggage fees which is why you sometimes see obnoxious people trying to squeeze in oversized luggage in overhead compartments. Would you have preferred if airlines do an across-the-board raise in fees for everyone? The companies create a charge and then make the consumer feel good by telling them they can pay or do something special to get out of it. That's ridiculous. A lot of things are ridiculous. Just look at your cellphone bill for instance. Compared to what cell phone companies are charging, the airlines industry doesn't seem that bad. You've essentially paid for the baggage fees up front through Amex. $400, or whatever the amount is, still left your pocket. If you are getting the card solely because you want baggage fees waived, then you are obviously getting the wrong card for wrong reasons..... The value is oversstated for these products. I'm sure the execs at Amex are laughing all of the way of the bank. They are, and so is any executive in a TBTF bank. And this is relevant because.....?
Regarding the warranty, how long does it last? I broke the screen on my laptop that I purchased on Black Friday last year in August or so of this year. Would Amex have covered that? if you broke it intentionally or by accident, then it is not covered. However if it died on its own, then it is covered. Accidentals are only covered for first 90 days of purchase. Other issuers have this coverage too. Amex just have an easier claims process.
There are carriers that don't charge fees for checking a bag. Some carriers let you check two bags.
Your counterargument about the cell phone industry doesn't seem to answer the question: why does it make sense to pay up front for fees that you A. Don' have to pay if you pick the right carrier or have the right status or B. Probably aren't necessary for travel any way. Essentially, you're saying that every company and industry does it this way, so it's ok. I reject that notion.
Regarding the $400, you're still paying up front for things that you don't NEED. Sure, you might want a drink or an inflight movie. You get these things free or cheaper through other avenues. The comment about laughing all the way to the bank is relevant because banks can charge exorbitant and ridiculous fees and consusmers will argue about the right and necessity to pay them. Again, their marketing department is outstanding.
I understand that Amex has an easier claims process. How frequently do people use claims? I've never broken a cell phone, though I've cracked a screen. I've owned several computers and just recently cracked a screen. I've bought one electronic device that failed on me in the past 5-6 years; maybe longer. Insurance is one of the biggest ripoffs in this great nation of ours. You're paying for ACCESS to something that you may not even need.
I haven't even discussed the lack of rewards that the card earns.
@FutureBillionaire wrote:
@myjourney wrote:Amex has some great features
Warranty
Backdating
3X CLI
Fraud Protection which I think is unmatched
The other day I made 2 online purchases out of my spending pattern.
They jumped into action sent me an email and 3 calls to verify I made the purchases.
While 3 calls maybe a lot I'll take that for my financial security
Discover and Bank of America routinely call me about purchases outside of my spending pattern. Discover will text me and let me reply back. I don't even have to talk on the phone. Plus, I don't pay any fee to Discover.
Other cards offer warranties. But, how often do you use the warranty? Are you getting value or are they selling you features that you most often won't use?
Backdating is the only perk that is substantial that you can't get with another company. But, it is only helpful when applying for credit cards. It's not going to be helpful for mortgage purchases.
Before jumping to conclusions the Amex in question does not have an AF associated with it and I still get the same great service. As for the warranty I'm not paying anything for it another bonus so weather I use it or not is completely irreverent its there if needed. It's all in the consumers eyes as to which card you prefer to use for your warranty I have Discover as well but prefer my bigger purchases to be covered by Amex
Just and FYI
Discover is well known to side with the merchant and deny claims whereas Amex not only puts the consumer first but will also take the merchandise itself should the merchant refuse your return
As to the text alert comment Amex will also text you I just hadn't used the feature but it was added the day on the incident so IMHO Discover is lagging sadly behind Amex in all phases including CLI's
Just out of curiosity what was meant by "its not going to be helpful during mortgage purchases"?
Because history is history and the first card is still the oldest card so I'm not sure of your analogy