topic Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet in Credit Cards

Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

AyaMai — Mon, 23 Jan 2023 05:57:03 GMT

Your comments are appreciated.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

OmarGB9 — Mon, 23 Jan 2023 06:36:38 GMT

Depends on your needs/wants.

The CM is 1.5% CB on everything, much like the QS, but 1.5% is rather low by today's standards.

The ED earns MRs, whose value can vary wildly depending on how you redeem them.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

wasCB14 — Mon, 23 Jan 2023 07:00:12 GMT

The only value I see in either card is in playing upgrade/downgrade games. Both are mediocre in terms of ongoing spend.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

wasCB14 — Mon, 23 Jan 2023 07:32:27 GMT

@OmarGB9 wrote:
Depends on your needs/wants.

The CM is 1.5% CB on everything, much like the QS, but 1.5% is rather low by today's standards.

The ED earns MRs, whose value can vary wildly depending on how you redeem them.

If a person can get 1.5 cpp, ED earns:

1.5% base / 3% at supermarkets without the 20% bonus

1.8% base / 3.6% at supermarkets with the 20% bonus

Meanwhile, at that same 1.5 cpp valuation...

...Gold gives 6% on supermarkets (higher cap) and dining (with a big AF and lots of credits)

...EDP gives 2.25% / 6.75% at supermarkets with the 50% bonus

I'm cynical of ED because if a person can get a decent value from MRs, then they can probably get an even better overall value from a different Amex card.

*It's a card that lets people try MRs without needing to pay an annual fee (or to have a business). Qualitatively, I can see the appeal. But quantitatively, it just doesn't do anything well. It's a mediocre card without the superior service/rewards/perks/protections of the AF MR cards.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

FireMedic1 — Mon, 23 Jan 2023 11:10:11 GMT

@wasCB14Did you mean the BCP for 6% groceries? Gold is 4 MR's.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

Anonymous — Mon, 23 Jan 2023 13:50:23 GMT

@FireMedic1 wrote:
@wasCB14Did you mean the BCP for 6% groceries? Gold is 4 MR's.

You must have missed the "at the 1.5cpp valuation"

4MR =6% with that assumption

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

FireMedic1 — Mon, 23 Jan 2023 17:09:42 GMT

@Anonymous wrote:
@FireMedic1 wrote:
@wasCB14Did you mean the BCP for 6% groceries? Gold is 4 MR's.
You must have missed the "at the 1.5cpp valuation"

4MR =6% with that assumption

@AnonymousThanks. Still learning the AMEX way since I'm new to it all with the 2 new cards. Real close to the Gold Sub now.

Re: Which one will you choose Amex EveryDay Credit Card or American Express Cash Magnet

WW1984 — Tue, 07 Mar 2023 02:55:44 GMT

American Express would prevail if they increased the Cash Magnet from 1.5% to 2% or better yet . . . 2.5% cash back. 😏