Yesterday I pulled the trigger on an AMEX Gold email offer I received for 50k mr points after spending 2k in the first 3 months. Pretty stoked for my new metal card! That fee is hefty, but I’m going to try to get the most out of the perks to make up for it.
Will have to downgrade my BCP in November when the AF hits for the 2nd time, as that’s redundant now. But here’s my concern... I don’t see myself sticking with the gold card longer than a year or maybe two. It would just be too much ongoing work to order $10 worth of Grubhub once a month and try to take advantage of the airline fee credit , ultimately I want to simplify my use of credit cards, not give myself more things to keep track of. Will Amex hate me if I downgrade my BCP to bce after its 2nd annual fee hits? Will that affect my Gold sign up bonus? How about if I also then close the Gold when it’s 2nd annual fee hits a year from now? Is this a way to get on Amex’s bad side?
How about the 50k points offer- has anyone had any better than that?
In other related news I’ve already closed my capital one cards and now it’s looking like Citi double cash is next on the chopping block after cutting price rewind and extended warranty benefits. Moving up the ladder in the credit world! Two years ago my credit score was 540 and I had to deposit $100 to get a secured capital one card with a $200 limit. Today I’m in the high 700s, and I just checked my spending power on the Amex gold and it says I’m approved for a $10,000 purchase! It’s nice to know I have access to that kind of credit if needed. I don’t see myself charging any $10k purchases any time soon though.
