Hey all! What are the benefits of holding an AmEx card in general? The reason I ask is because I'm considering the BCP as a better everyday card than my B of A Cash Rewards. I am not specifically asking about the benefits of BCP, but rather AmEx as a whole (BCP just happens to be the card I'm considering 
).
The only other alternative I'm consdering is the Sallie Mae MC. I'm usually very anti-AF, so the SM is appealing to me. After running some numbers, both cards will profit me approximately the same amount of cash back.
My average monthly spending = $350 on groceries + $100 on gas.
SM = $210 cash back/year (w/ caps)
BCP = $213 ($288 CB - AF)
Now with cash back being nearly equal, a few AmEx benefits I can think of that are swaying me more towards AmEx are:
-Possibility of backdating future cards
-Likelihood AmEx will give me strong SL
-Great customer service (so I've heard)
-No stress disputes vs. retailers
-Extended warranties on purchases
Some downsides I can think of are:
-AmEx not accepted everywhere
Any other pros/cons I should consider regarding AmEx as a whole? I have always heard AmEx is one of the finer companies, I would just like to validate why 
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@Anonymous wrote:Hey all! What are the benefits of holding an AmEx card in general? The reason I ask is because I'm considering the BCP as a better everyday card than my B of A Cash Rewards. I am not specifically asking about the benefits of BCP, but rather AmEx as a whole (BCP just happens to be the card I'm considering
The only other alternative I'm consdering is the Sallie Mae MC. I'm usually very anti-AF, so the SM is appealing to me. After running some numbers, both cards will profit me approximately the same amount of cash back.
My average monthly spending = $350 on groceries + $100 on gas.
SM = $210 cash back/year (w/ caps)
BCP = $213 ($288 CB - AF)
Now with cash back being nearly equal, a few AmEx benefits I can think of that are swaying me more towards AmEx are:
-Possibility of backdating future cards
-Likelihood AmEx will give me strong SL
-Great customer service (so I've heard)
-No stress disputes vs. retailers
-Extended warranties on purchases
Some downsides I can think of are:
-AmEx not accepted everywhere
Any other pros/cons I should consider regarding AmEx as a whole? I have always heard AmEx is one of the finer companies, I would just like to validate why
Your calculation is slightly off, because you still get 1% on the grocery spend above $250. Now 1% of the extra 100 is $1, so that only adds $12 a year, but pushes SM slightly ahead. However, Amex Offers (which you don't list as a beneft) are likely to to be worth more than the difference
I think you have listed the main advantages and disadvantages, SP CLIs at various times is a selling point to some
LTL, fantastic catch on the 1% 
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@longtimelurker wrote:
@Anonymous wrote:Hey all! What are the benefits of holding an AmEx card in general? The reason I ask is because I'm considering the BCP as a better everyday card than my B of A Cash Rewards. I am not specifically asking about the benefits of BCP, but rather AmEx as a whole (BCP just happens to be the card I'm considering
The only other alternative I'm consdering is the Sallie Mae MC. I'm usually very anti-AF, so the SM is appealing to me. After running some numbers, both cards will profit me approximately the same amount of cash back.
My average monthly spending = $350 on groceries + $100 on gas.
SM = $210 cash back/year (w/ caps)
BCP = $213 ($288 CB - AF)
Now with cash back being nearly equal, a few AmEx benefits I can think of that are swaying me more towards AmEx are:
-Possibility of backdating future cards
-Likelihood AmEx will give me strong SL
-Great customer service (so I've heard)
-No stress disputes vs. retailers
-Extended warranties on purchases
Some downsides I can think of are:
-AmEx not accepted everywhere
Any other pros/cons I should consider regarding AmEx as a whole? I have always heard AmEx is one of the finer companies, I would just like to validate why
Your calculation is slightly off, because you still get 1% on the grocery spend above $250. Now 1% of the extra 100 is $1, so that only adds $12 a year, but pushes SM slightly ahead. However, Amex Offers (which you don't list as a beneft) are likely to to be worth more than the difference
I think you have listed the main advantages and disadvantages, SP CLIs at various times is a selling point to some
Barclays has given me quite a few offers as well. $20 off my Amazon prime membership once, and 4 times they gave me 2X bonus points in various categories, which is nice when they overlap the 5x categories. Plus, Barclays gives free FICO scores. And I've been able to get a second Sallie Mae card.
If you use the Bookstore category to get 5x on Amazon.com purchases, then that is a huge advantage for the Sallie mae.
Of course, you can get both cards if they are both advantageous to you. Or even if not.
Hmm. benefit. It looks good in my wallet
@onstar wrote:
@longtimelurker wrote:However, Amex Offers (which you don't list as a beneft) are likely to to be worth more than the difference
+1. Although this is a huge YMMV, Amex frequently offers something that most people can use. Among the current offers (there are about 30 right now) is $10 back when paying $75+ in cell phone bills (limit 3x). I already got $10 back twice, and on the next month's cell phone bill will get another $10 back.
@Themanwhocan wrote:Of course, you can get both cards if they are both advantageous to you. Or even if not.
LOL. Yup yup.
Wow, I had never heard of AmEx Offers. Do you have any other examples? I don't have an AmEx account, so it won't let me view offers 
.
@Anonymous wrote:
@onstar wrote:
@longtimelurker wrote:However, Amex Offers (which you don't list as a beneft) are likely to to be worth more than the difference
+1. Although this is a huge YMMV, Amex frequently offers something that most people can use. Among the current offers (there are about 30 right now) is $10 back when paying $75+ in cell phone bills (limit 3x). I already got $10 back twice, and on the next month's cell phone bill will get another $10 back.
@Themanwhocan wrote:Of course, you can get both cards if they are both advantageous to you. Or even if not.
LOL. Yup yup.
Wow, I had never heard of AmEx Offers. Do you have any other examples? I don't have an AmEx account, so it won't let me view offers
Swanson Health products. Spend $100 or more,get $20
Ebags.com spend $75 get $15
The offers vary. I sometimes use 2 or 3 offers per year, mainly in December.
