topic Re: What to do with my AMEX Gold? in Credit Cards

What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 18:09:27 GMT

I opened my Gold card in October of last year, but AMEX denied to give me a SUB (more on that down) so the card has not seen much use given the availability of other cards.

I have had a change of heart towards my CSP which I started to use more. After shuffling my CLs with Chase, it now sits at $6k (initial limit before Chase CLD it back in early 2021); It has a lower APR (now at 17.24%) vs AMEX (not that it matters since the Gold is charge card) and the rewards are easier to accumulate. I also have the Savor which gives me 4% straight cash back on dinning.

My issue wit the Gold is that without the SUB it is hard for me to evaluate the card rewards since accumulating MR points from scratch takes very heavy use. Also, the dinning credit is very limited in that I get MONTHLY credit as opposed to me getting it all at once and be done with it. What if I want to go the Cheesecake factory and spend all $120? Out of luck with AMEX .. only get $10 credit.

Back to the SUB .. I'm on some blacklist for SUBs with AMEX. Every one of the four accounts I opened with AMEX did not qualify for a SUB with the same standard message "The number of accounts you have opened and closed ...". But what AMEX refuses to understand is that never have I actually gotten a SUB .. the reason I kept closing the accounts is because their limits were so low that I couldn't spend on them to hit a SUB spending limit. Another gripe I have with AMEX.

Do you suggest I close the card or downgrade it to the Green? The annual fee is coming up so I got a decision to make.

Re: What to do with my AMEX Gold?

FinStar — Mon, 18 Jul 2022 18:11:41 GMT

@CreditPacMan wrote:
I opened my Gold card in October of last year, but AMEX denied to give me a SUB (more on that down) so the card has not seen much use given the availability of other cards.

I have had a change of heart towards my CSP which I started to use more. After shuffling my CLs with Chase, it now sits at $6k (initial limit before Chase CLD it back in early 2021); It has a lower APR (now at 17.24%) vs AMEX (not that it matters since the Gold is charge card) and the rewards are easier to accumulate. I also have the Savor which gives me 4% straight cash back on dinning.

My issue wit the Gold is that without the SUB it is hard for me to evaluate the card rewards since accumulating MR points from scratch takes very heavy use. Also, the dinning credit is very limited in that I get MONTHLY credit as opposed to me getting it all at once and be done with it. What if I want to go the Cheesecake factory and spend all $120? Out of luck with AMEX .. only get $10 credit.

Back to the SUB .. I'm on some blacklist for SUBs with AMEX. Every one of the four accounts I opened with AMEX did not qualify for a SUB with the same standard message "The number of accounts you have opened and closed ...". But what AMEX refuses to understand is that never have I actually gotten a SUB .. the reason I kept closing the accounts is because their limits were so low that I couldn't spend on them for hit a SUB spending limit. Another gripe I have with AMEX.

Do you suggest I close the card or downgrade it to the Green? The annual fee is coming up so I got a decision to make.

What will the Green card do for you benefits-wise given you've listed cards like Savor and CSP?

As far as SUBs go, that's something internal that AENB has flagged based on your previous experiences with prior cards, regardless of whether you rationalize the closures for the lower assigned limits.

Examine/take a look at the Green card's benefits, and if it makes sense, then downgrade when the AF renews. If you downgrade before the AF posts, you'll have another AENB black eye 🤷‍♂️

Re: What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 18:29:00 GMT

@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.

Re: What to do with my AMEX Gold?

FinStar — Mon, 18 Jul 2022 18:35:37 GMT

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.

It really depends on how much you've spent on it, tenure and AENB overall history. So, you can always try and see whether there are any offers available once the AF posts. Depending on that outcome, then you can decide next steps.

Re: What to do with my AMEX Gold?

jcooks — Mon, 18 Jul 2022 18:48:18 GMT

If you believe the Gold isn't worth it, I don't see the Green being any more beneficial, since it's 3x at restaurants rather than the Gold's 4x. It gives the same on travel at 3x, and the only upside is if you spend a lot on transit. It also doesn't give you the dining credit and Uber credit. So I wouldn't recommend downgrading at all, unless you spend a lot on transit. But if that's the case, I would recommend talking to your employer about a pre-tax commuter benefit.

For me, the Gold has been my work horse in amassing MR points. I could see why you wouldn't think so since you weren't elegible for the SUB. Have you tried to find out reasons why Amex would put you in jail for their SUBs?

Re: What to do with my AMEX Gold?

jcooks — Mon, 18 Jul 2022 18:52:34 GMT

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.

I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.

Re: What to do with my AMEX Gold?

Anonymous — Mon, 18 Jul 2022 19:00:59 GMT

@CreditPacMan I have the American Express Green Card, and I love it. It is the card I use every day for everything. I find that I earn a lot of MR points, and they are very valuable. I would choose Amex Green over any cash back card that exists. Furthermore, I love all the benefits of American Express membership such as:

Extremely professional customer service.

Free FICO and VantageScores.

Soft pulls for additional products.

Ability to pay charges at the moment they authorize.

Excellent app and website features.

Furthermore, if you're considering a product change from Amex Gold, the annual fee for Amex Green is only $150.

Re: What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 19:04:51 GMT

@jcooks wrote:

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.
I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.

@jcooks Unlike my recent approval where the popup actually appeared, it didn't appear in my Gold, Bonvoy and Delta Reserve applications. So I was approved thinking I would get the SUB.

I don't know why I'm in jail. I never chased SUBs then closed accounts like some people do, but I did close a bunch of AMEX cards between 2015-2020 (6+ accounts) ..just because their limits were very low (all at $1k).

Re: What to do with my AMEX Gold?

jcooks — Mon, 18 Jul 2022 19:07:09 GMT

@CreditPacMan wrote:
@jcooks wrote:

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.
I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.
@jcooks Unlike my recent approval where the popup actually appeared, it didn't appear in my Gold, Bonvoy and Delta Reserve applications. So I was approved thinking I would get the SUB.

I don't know why I'm in jail. I never chased SUBs then closed accounts like some people do, but I did close a bunch of AMEX cards between 2015-2020 (6+ accounts) ..just because their limits were very low (all at $1k).

Were the closed cards either the Gold or any other current cards that you recently got? If not, closing a lot of cards could have spooked them.

Re: What to do with my AMEX Gold?

OmarGB9 — Mon, 18 Jul 2022 19:07:18 GMT

@jcooks wrote:

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.
I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.

Agreed, also Amex bans you from getting SUBs for constantly opening/closing accounts with them, regardless of whether you achieved the SUB or not each time.

Re: What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 19:10:32 GMT

@jcooks wrote:
@CreditPacMan wrote:
@jcooks wrote:

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.
I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.
@jcooks Unlike my recent approval where the popup actually appeared, it didn't appear in my Gold, Bonvoy and Delta Reserve applications. So I was approved thinking I would get the SUB.

I don't know why I'm in jail. I never chased SUBs then closed accounts like some people do, but I did close a bunch of AMEX cards between 2015-2020 (6+ accounts) ..just because their limits were very low (all at $1k).
Were the closed cards either the Gold or any other current cards that you recently got? If not, closing a lot of cards could have spooked them.

@jcooks sure it was. The Gold .. the Green .. Delta Gold .. BCE .. Clear and BCP all I had during that period and closed.

Re: What to do with my AMEX Gold?

Anonymous — Mon, 18 Jul 2022 19:10:51 GMT

@CreditPacMan In regards to frustration surrounding SUBs, I would not let that get under your skin. In time, that won't even matter anymore. I got my Amex Green in 1997, and honestly I cannot remember at all if I received any sign up bonuses.

Re: What to do with my AMEX Gold?

jcooks — Mon, 18 Jul 2022 19:11:48 GMT

@CreditPacMan wrote:
@jcooks wrote:
@CreditPacMan wrote:
@jcooks wrote:

@CreditPacMan wrote:
@FinStar I really have no business with the Green card .. just thinking I don't want AMEX back eye if I close the Gold now. I have read that sometime people get retention offers .. so I guess that's another avenue.
I wouldn't recommend closing a card before the first year, then you'd be in worse shape with Amex. Any reason why you've accepted when they popped up that you weren't elegible for the SUBs? Once you've accepted the card, you lost elegibility for the SUB on that card in the future whether you received the SUB or not.
@jcooks Unlike my recent approval where the popup actually appeared, it didn't appear in my Gold, Bonvoy and Delta Reserve applications. So I was approved thinking I would get the SUB.

I don't know why I'm in jail. I never chased SUBs then closed accounts like some people do, but I did close a bunch of AMEX cards between 2015-2020 (6+ accounts) ..just because their limits were very low (all at $1k).
Were the closed cards either the Gold or any other current cards that you recently got? If not, closing a lot of cards could have spooked them.
@jcooks sure it was. The Gold .. the Green .. Delta Gold .. BCE .. Clear and BCP all I had during that period and closed.

That's why you weren't elegible for the SUB on the Gold.

Re: What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 19:42:40 GMT

@Anonymous wrote:
@CreditPacMan In regards to frustration surrounding SUBs, I would not let that get under your skin. In time, that won't even matter anymore. I got my Amex Green in 1997, and honestly I cannot remember at all if I received any sign up bonuses.

@AnonymousAbsolutely! I just brought it up to weigh the $250 AF vs what the card is giving/has given to me.

Re: What to do with my AMEX Gold?

SouthJamaica — Mon, 18 Jul 2022 20:46:15 GMT

@CreditPacMan wrote:
I opened my Gold card in October of last year, but AMEX denied to give me a SUB (more on that down) so the card has not seen much use given the availability of other cards.

I have had a change of heart towards my CSP which I started to use more. After shuffling my CLs with Chase, it now sits at $6k (initial limit before Chase CLD it back in early 2021); It has a lower APR (now at 17.24%) vs AMEX (not that it matters since the Gold is charge card) and the rewards are easier to accumulate. I also have the Savor which gives me 4% straight cash back on dinning.

My issue wit the Gold is that without the SUB it is hard for me to evaluate the card rewards since accumulating MR points from scratch takes very heavy use. Also, the dinning credit is very limited in that I get MONTHLY credit as opposed to me getting it all at once and be done with it. What if I want to go the Cheesecake factory and spend all $120? Out of luck with AMEX .. only get $10 credit.

Back to the SUB .. I'm on some blacklist for SUBs with AMEX. Every one of the four accounts I opened with AMEX did not qualify for a SUB with the same standard message "The number of accounts you have opened and closed ...". But what AMEX refuses to understand is that never have I actually gotten a SUB .. the reason I kept closing the accounts is because their limits were so low that I couldn't spend on them to hit a SUB spending limit. Another gripe I have with AMEX.

Do you suggest I close the card or downgrade it to the Green? The annual fee is coming up so I got a decision to make.

I would suggest that you talk to them about the fact that you were denied a SUB but have never received a SUB from them. If they're willing to give you the SUB now, fine. If not, then close the card. And stop beating a dead horse with Amex. There are lots of other fish in the sea and you already have one of the top travel cards in the CSP.

Re: What to do with my AMEX Gold?

CreditPacMan — Mon, 18 Jul 2022 22:19:48 GMT

@SouthJamaica wrote:
@CreditPacMan wrote:
I opened my Gold card in October of last year, but AMEX denied to give me a SUB (more on that down) so the card has not seen much use given the availability of other cards.

I have had a change of heart towards my CSP which I started to use more. After shuffling my CLs with Chase, it now sits at $6k (initial limit before Chase CLD it back in early 2021); It has a lower APR (now at 17.24%) vs AMEX (not that it matters since the Gold is charge card) and the rewards are easier to accumulate. I also have the Savor which gives me 4% straight cash back on dinning.

My issue wit the Gold is that without the SUB it is hard for me to evaluate the card rewards since accumulating MR points from scratch takes very heavy use. Also, the dinning credit is very limited in that I get MONTHLY credit as opposed to me getting it all at once and be done with it. What if I want to go the Cheesecake factory and spend all $120? Out of luck with AMEX .. only get $10 credit.

Back to the SUB .. I'm on some blacklist for SUBs with AMEX. Every one of the four accounts I opened with AMEX did not qualify for a SUB with the same standard message "The number of accounts you have opened and closed ...". But what AMEX refuses to understand is that never have I actually gotten a SUB .. the reason I kept closing the accounts is because their limits were so low that I couldn't spend on them to hit a SUB spending limit. Another gripe I have with AMEX.

Do you suggest I close the card or downgrade it to the Green? The annual fee is coming up so I got a decision to make.

I would suggest that you talk to them about the fact that you were denied a SUB but have never received a SUB from them. If they're willing to give you the SUB now, fine. If not, then close the card. And stop beating a dead horse with Amex. There are lots of other fish in the sea and you already have one of the top travel cards in the CSP.

I wish AMEX makes it that easy. Their chat and phone agents are not helpful and cannot override a system's decision and I have no clue if they have an excutive office email to complain to.

Re: What to do with my AMEX Gold?

GatorGuy — Tue, 19 Jul 2022 00:22:06 GMT

I think it ultimately comes down to if you want to get into the Amex ecosystem. If you want to get on their good side, it will take time and spend to do that. IMO, the more spend you can do, then the less time it will take. If you don't want to spend then it will take longer.

If you ultimately do want to be approved for Amex cards with SUBs then I definitely wouldn't close this card. Even downgrading it won't do much for your relationship. Now if you decide Amex isn't worth, which is understandable, not every lender is a great fit for everyone, then go ahead and close it.

Re: What to do with my AMEX Gold?

jcooks — Tue, 19 Jul 2022 12:12:56 GMT

Unfortunately, terms and conditions states that OP is not elegible for the SUB.

First line in the terms states...

Welcome offer not available to applicants who have or have had this Card or the Premier Rewards Gold Card.

Re: What to do with my AMEX Gold?

notmyrealname23 — Tue, 19 Jul 2022 23:25:43 GMT

OP, the way this works is AMEX doesn't care if you didn't hit a SUB because of low limits, you had your shot, you either did it or didn't, and once that happens the lifetime language means you can't try again in the near future.

IMO you should close the AMEX Gold account and give up on new AMEX cards for now. Plenty of fish in the sea and your past behavior has made you an undesirable customer in AMEX's mind (thus the dreaded popup) and frankly the best way to change that is to seek other cards out, use them well, and stay away from new apps with AMEX for a while. They may be willing to re-evaluate you as a customer in a few years. In the meantime you don't have to pay annual fees for charge cards where you can't get a SUB (which is a large portion of the value proposition).

Re: What to do with my AMEX Gold?

Anonymous — Tue, 19 Jul 2022 23:32:56 GMT

@CreditPacMan There's no better way to build a great relationship with American Express than to keep your account.