topic Re: AMEX Regret in Credit Cards

AMEX Regret

WhiteCollar — Sun, 18 Oct 2020 13:47:19 GMT

I was super excited to find out that I was pre-approved for a few Amex cards a few months ago. I decided to go with the AMEX Delta Gold. I was excited just to have my foot in the door with AMEX for the first time ever. I was approved for a $1k SL. Now I'm about 3 months in and I don't really see the value in having this card. The SUB of 50k miles was nice but that's it. Kind of wish I would have gotten the BCP. It's a more useful card.

Re: AMEX Regret

UpperNwGuy — Sun, 18 Oct 2020 14:08:43 GMT

@WhiteCollar wrote:
I was super excited to find out that I was pre-approved for a few Amex cards a few months ago. I decided to go with the AMEX Delta Gold. I was excited just to have my foot in the door with AMEX for the first time ever. I was approved for a $1k SL. Now I'm about 3 months in and I don't really see the value in having this card. The SUB of 50k miles was nice but that's it. Kind of wish I would have gotten the BCP. It's a more useful card.

Airline cards are not known for being "useful." They have two primary values: the signup bonus and the perks (first bag free, early boarding, etc). The BCP, on the other hand is good for earning rewards from ongoing spending.

Re: AMEX Regret

WhiteCollar — Sun, 18 Oct 2020 14:28:01 GMT

@UpperNwGuy Lesson learned. This card will most likely go in my sock drawer.

Re: AMEX Regret

Anonymous — Sun, 18 Oct 2020 14:32:03 GMT

I suggest product changing the card to no fee Amex Delta Blue after annual fee posts next year.

Re: AMEX Regret

MudkipsRKooL — Sun, 18 Oct 2020 14:33:10 GMT

you gotta think positive at least it's not your oldest credit card like Credit One or First Premiere where if you close it you would lose AAoA and drop 10-20 points so are forced to pay $99/year. You can always downgrade after paying the AF next year.

Re: AMEX Regret

Rudy1 — Sun, 18 Oct 2020 14:36:16 GMT

I also went with the Delta Gold American Express you may regret it I don't 50k for me is a lot as I am traveling all the time The card has earned me quite a bit of miles as it is one of my primary cards. I also think that this card has helped me get my foot in with Amex as you said. One perk I can think of that comes with this card vs the blue is first bag free and a $100 flight credit though I suppose this may not really benfit people who don't travel a ton.

Re: AMEX Regret

Loquat — Sun, 18 Oct 2020 14:48:28 GMT

@Anonymous wrote:
I suggest product changing the card to no fee Amex Delta Blue after annual fee posts next year.

Product changing removes the ability to ever get the sub on the card. I would much rather close the card than to close myself out of the opportunity to get the sub on the card.

Re: AMEX Regret

AverageJoesCredit — Sun, 18 Oct 2020 14:50:33 GMT

@WhiteCollar wrote:
I was super excited to find out that I was pre-approved for a few Amex cards a few months ago. I decided to go with the AMEX Delta Gold. I was excited just to have my foot in the door with AMEX for the first time ever. I was approved for a $1k SL. Now I'm about 3 months in and I don't really see the value in having this card. The SUB of 50k miles was nice but that's it. Kind of wish I would have gotten the BCP. It's a more useful card.

No regerts

Re: AMEX Regret

Brian_Earl_Spilner — Sun, 18 Oct 2020 14:52:52 GMT

@Rudy1 wrote:
I also went with the Delta Gold American Express you may regret it I don't 50k for me is a lot as I am traveling all the time The card has earned me quite a bit of miles as it is one of my primary cards. I also think that this card has helped me get my foot in with Amex as you said. One perk I can think of that comes with this card vs the blue is first bag free and a $100 flight credit though I suppose this may not really benfit people who don't travel a ton.

This.

It has been worth it for me just for the checked baggage and early boarding. On southwest, no matter how early I pre-board, I always end up in a latter group and my carry-on has to sit a few rows behind me meaning I have to wait for everyone to get off before I can go get it. With my Delta, it sits with me in comfort+ and I'm on and off the plane quickly. On top of that, despite having a smaller SUB than you, I've already gotten 4 free flights out of it with less travel than I normally do.

Re: AMEX Regret

AverageJoesCredit — Sun, 18 Oct 2020 14:53:27 GMT

@WhiteCollar wrote:
@UpperNwGuy Lesson learned. This card will most likely go in my sock drawer.

lol, actually not really a lesson. You were looking for a "way in" and its common knowledge here on myFico, that this is, more or less, the easiest card to get. Getting a 50k SUB is a sufficient way to start off your Amex career lol so no worries there. The card will have served its purpose in establishing you with Amex. Just dont go closing it before 12 months🤯

Re: AMEX Regret

AverageJoesCredit — Sun, 18 Oct 2020 14:54:56 GMT

@MudkipsRKooL wrote:
you gotta think positive at least it's not your oldest credit card like Credit One or First Premiere where if you close it you would lose AAoA and drop 10-20 points so are forced to pay $99/year. You can always downgrade after paying the AF next year.

if you close a credit card, regardless of Lender, you do not lose AAoA. The card normally will report up to or more than 10 years.

Re: AMEX Regret

wasCB14 — Sun, 18 Oct 2020 16:34:02 GMT

A few other considerations...

Delta miles don't expire. The card doesn't play a role in keeping them active.

Amex sometimes targets downgraded cards with an offer with a SUB to re-upgrade back to an AF card. I earned the SUB on EDP, downgraded to ED, and earned another SUB when going back to EDP.

Most people are limited to 4 Amex revolvers. You still have a lot of flexibility there.

Re: AMEX Regret

Anonymous — Sun, 18 Oct 2020 17:40:33 GMT

I agree with others who say this card achieved exactly what you wanted, "foot in the door". If that's your stance then card selection wasn't you top priority in the first place so it really shouldn't matter now. For people who are serious about it they reseach a product before applying to see if it benefits them long term. I don't understand the "foot in the door" approach myself considering how often this results in what some would call a "bucketed" card.

And there's big difference between Delta and BCP so it appears to show a lack of understanding in what it is you're truly after. That said, you might have had plans for the 50K miles and then Covid happend so that I can understand. Although this has been a real thing since March, and have had reduced travel in general since before 3 months ago. So it still makes me wonder why, when there were many other products to choose from.

As a general rule going forward i think the old "foot in the door" approach is likely not going to be the best thing in the coming months, and should probably be avoided during this pandemic. I will say that I think we all at one time or another made a mistake in card choice for whatever reasons, so it can be viewed as a learning moment.

Re: AMEX Regret

notmyrealname23 — Sun, 18 Oct 2020 20:00:10 GMT

@Loquat wrote:
@Anonymous wrote:
I suggest product changing the card to no fee Amex Delta Blue after annual fee posts next year.
Product changing removes the ability to ever get the sub on the card. I would much rather close the card than to close myself out of the opportunity to get the sub on the card.

The Blue's a 10k SUB most of the time- the SUB isn't nothing but it's not exactly OMG AMAZING (lots of no-AF cards out there that beat that SUB, including some from AMEX). Having the tradeline stay open long term to help age accounts may be worth passing up 10k Skymiles, especially since OP got 50k from the Gold. As mentioned, there may also be upgrade offers back to Gold eventually. It also means that if you're trying to not open a bunch of accounts to achieve 5/24, you don't have to close Gold/open Blue and take two 5/24 strikes, as you've only taken one.