topic Re: AMEX Fees... in Credit Cards

AMEX Fees...

birjest — Thu, 18 Apr 2013 15:18:33 GMT

Ok, allow me to digress I had the Zync card and had just upgraded to the PRG. Now, I do realize that it comes with good rewards, and yes I have to pay $175 a year. What I do not understand is that people complain about these fees. I have read so many post that, "when the AF comes up, I am going to cancel". I wonder, why even bother apply for these cards? Ohhh, I got it, for the initial reward points. If one push 20 to 50K a year on these cards, what the big deal? I can truly understand the fees for Platinum or JP Morgan has to be justify, but if your salary is 6 figures, then why complain? Some of my single purchases are well over my PRG fees, so I ask again, why app for these cards or complain about the fees?

Re: AMEX Fees...

DeadSpider — Thu, 18 Apr 2013 15:49:05 GMT

To get sign up $$ and show off i guess !!!

Re: AMEX Fees...

youngandcreditwrthy — Thu, 18 Apr 2013 15:51:05 GMT

Eh,
The only Amex charge Id consider even paying an AF for is the Platinum. My income isn't high enough for that yet heh

Re: AMEX Fees...

LS2982 — Thu, 18 Apr 2013 16:00:25 GMT

Its that prestige for me. Having an AMEX gold means you have good credit and not to mention that card is BALLIN'!!!!

So the AF isnt a biggie to me.

Re: AMEX Fees...

Themanwhocan — Thu, 18 Apr 2013 16:13:51 GMT

Having an American Express Gold card just means you're willing to pay an outrageous AF for a glorified debit card.

I see no advantage to having one. NONE.

Re: AMEX Fees...

LS2982 — Thu, 18 Apr 2013 16:17:05 GMT

To each is own my friend. I happen to luv my AMEX relationship and their products!

Re: AMEX Fees...

DeadSpider — Thu, 18 Apr 2013 16:26:22 GMT

As long as your getting something out of AF pay it. My DW has BCP which is $75 a year but we get that back almost right away.

I don't see myself paying $100+ per year or even having multiple AF like some do just to have the cards...

Re: AMEX Fees...

birjest — Thu, 18 Apr 2013 16:31:03 GMT

I agree, to each their own...I am now off my soap box..;-)

Re: AMEX Fees...

Open123 — Thu, 18 Apr 2013 16:38:08 GMT

@birjest wrote:
I agree, to each their own...I am now off my soap box..;-)

The only thing I don't understand is a card with 0 rewards and no benefits, unless one really needed to hold a balance for the long haul. 0% promo sign-up bonus rewards cards (Freedom & Citi TY Preferred) all seem infinitely superior to me.

Re: AMEX Fees...

Themanwhocan — Thu, 18 Apr 2013 16:49:38 GMT

@DeadSpider wrote:
As long as your getting something out of AF pay it. My DW has BCP which is $75 a year but we get that back almost right away.
I don't see myself paying $100+ per year or even having multiple AF like some do just to have the cards...

Exactly right. I plan to get a BCE since I'm single and wouldn't spend enough to justify a BCP.

But I don't understand paying the large AF on the Gold Charge card, when the benefits just aren't there.

Re: AMEX Fees...

ilovelisa — Fri, 19 Apr 2013 00:08:08 GMT

@Themanwhocan wrote:
Having an American Express Gold card just means you're willing to pay an outrageous AF for a glorified debit card.

I see no advantage to having one. NONE.

+1, everytime I see any AMEX charge card, I think to myself "you know, that guy is paying an AF and getting nothing." Most Cap 1 cards give better rewards then AMEX.

edit by Webhopper, myFICO moderator

Re: AMEX Fees...

Open123 — Thu, 18 Apr 2013 23:59:49 GMT

@ilovelisa wrote:
+1, everytime I see any AMEX charge card, I think to myself "you know, that guy is paying an AF and getting nothing." Most Cap 1 cards give better rewards then AMEX.

LOL...This is far off base,

However, I do agree there is little reason to have the plain vanilla Green for $95 and plain Gold for $125.

edit by webhopper, myFICO moderator

Re: AMEX Fees...

LS2982 — Fri, 19 Apr 2013 00:00:53 GMT

@Open123 wrote:
@ilovelisa wrote:
+1, everytime I see any AMEX charge card, I think to myself "you know, that guy is paying an AF and getting nothing." Most Cap 1 cards give better rewards then AMEX.

LOL...This is far off base,

However, I do agree there is little reason to have the plain vanilla Green for $95 and plain Gold for $125.

edit by webhopper, myFICO moderator

Totally agree.

Re: AMEX Fees...

CS800 — Thu, 18 Apr 2013 17:27:07 GMT

If you can justify the AF for the perks you get out of any card ,then it makes sense.

I sue the AMEX Platinum and use a lot of the perks like priority pass, Global entry credit, airlne credit. The concierge so far has been first class.

And true it is a debit card which makes me even more careful of my spending knowing that I have to pay the full amount at the end of the month. In a way charge cards keep me on track

But having an AMEX is also glamorous i think.

Re: AMEX Fees...

Anonymous — Thu, 18 Apr 2013 23:56:12 GMT

@blondy250 wrote:
I put 3k a month average through my Plat card, besides the points i get, the travel benefits outlined above justify the annual fee for me .
edit by webhopper, MyFICO moderator

Lots of people chose not to get the Plat card because they do not feel that the cost justifies the benefit, for them. It does to you, great.

Re: AMEX Fees...

Anonymous — Fri, 19 Apr 2013 00:02:24 GMT

@Anonymous wrote:
@blondy250 wrote:
I put 3k a month average through my Plat card, besides the points i get, the travel benefits outlined above justify the annual fee for me .
Lots of people chose not to get the Plat card because they do not feel that the cost justifies the benefit, for them. It does to you, great.

I'm not one to demand everyone be PC either, while I'm not offended, I could see how that statement would be mildly irritating. but ehhh....

as for as justifying amex products with an AF, if you can do a bit of simple math and have a solid grasp of what you spend your disposable income on, then you should know whether the card is a worthwhile product for you and of course there's nothing wrong with getting a product for status.

edit by webhopper, MyFICO moderator

Re: AMEX Fees...

Anonymous — Thu, 18 Apr 2013 18:54:12 GMT

OT, but damn, you have two PenFed Plat Rewards cards @ 20k each...that's impressive.

they are notoriously stingy claiming if you have any kind of other credit you're likely to stiff them. I'm paraphrasing of course. They call it debt pyramiding.

Re: AMEX Fees...

Anonymous — Thu, 18 Apr 2013 19:00:50 GMT

That is an error on their part. I asked to convert my Plat Rewards to the Chip&Pin version. Their process then (and I think now as well) involves opening a new account and closing the old one. I had to speak to three people to assure them that I wasn't asking for new credit, just replacing one line with another. Then they decided to leave the both open, which is fine by me!

Re: AMEX Fees...

armbenderc — Thu, 18 Apr 2013 19:09:37 GMT

I have Amex Green, which I used to get in the door with Amex and landed BCE. I love the Amex Green, not a lot of people have them. However, I wish I have applied for the PRG instead and I will when the time is right.

Re: AMEX Fees...

boomhower — Thu, 18 Apr 2013 19:54:52 GMT

@LS2982 wrote:
Its that prestige for me. Having an AMEX gold means you have good credit and not to mention that card is BALLIN'!!!!

So the AF isnt a biggie to me.

There is no prestige to the Gold card. Your credit doesn't have to be that great to get it. If you can qualify for the Green card you can get the gold. IMHO the BCE/BCP are much harder to get than the Gold card. High 600s will get you a gold card easily.