cancel
Showing results for 
Search instead for 
Did you mean: 

AMEX Gold still worth it?

Highlighted
Regular Contributor

Re: AMEX Gold still worth it?


@mongstradamus wrote:

@CWA1984 wrote:

If your single and don't have kids your never going to get enough value from the grocery category to justify the gold card.  Especially if you shop at wholesale warehouses like Sam's Club or BJ's.  The dining category to me is about useless as well since I don't eat out a lot and you have to eat out a lot to get enough spend to justify the gold card.  The food credits are completely worthless to me since I rarely eat out and when I do get something to eat it's usually from sheetz and that codes as gas not as restaurant.

 

Being honest the gold card is completely outshined for a lot of people like myself by the Everyday Preferred.  The EDP is just a lot more useful than the gold card since most people have to drive to work (gas spend), most people make small purchases when out and about (30+ purchases gives 50% bonus), and the grocery base bonus of 3x is just 1x less than the gold card and if you get the bonus it's higher than the 4x of the gold card with EDP giving 4.5x groceries.  Overall a lot of people getting the gold card are really getting it for the "bling".   A lot of gold card holders are just wasting money on the annual fee not getting the value needed out of the card to justify it.    

 

 


When i did comparison whether to stay with EDP or go Gold it came down to restaurants and how much I ate. The 3x gas with EDP wasn't really a consideration due to ability to get gas cards at staples at 5x with my ink cards. Both are very good cards for MR earning, I will re-evaluate when the time comes for AF , but I think its probably going to be a keeper for me.


I was talking very generally about gold card holders I've met offline.  The ones I've met who got the gold card did so for "flexing" because they think the gold card makes them awesome for various stupid reasons.  If you get positive value out of the card beyond just the signup bonus then by all means get the card and I wish you well for it.  In my earlier post I was just stating why I think the EDP is the clearly better card for a lot of people including myself. 

 

Again, most people who I've met personally don't get things like the gold card because of the value it gives them...no they get it as a status symbol.  You see this nonsense in everday life with people who get this card for "flexing" or even on youtube with people having a ton of annual fee credit cards costing them hundreds if not thousands of dollars each year and they aren't doing it for the travel they are doing it as a status symbol.  Funny thing is most of those people don't make that much money either.  If you ever read the millionaire next door the vast majority of them are basically "UAWs" at best if not flat out "sidewalkers" which describes these type of people in the book the millionaire fastlane by MJ Demarco.      

Message 51 of 73
Highlighted
New Contributor

Re: AMEX Gold still worth it?

Back when I was single, my grocery bill was a lot lower but I was eating out a lot more, still 4 points under the current format.  These days, the bonus points from grocery spending alone more than covers my annual fee. I’ve always been able to make good use of bonus points in food categories. I think many would, and that makes it a reasonable all-rounder option for a lot of people. 

 

Obviously everybody is different and no card is perfect. But I don’t think it’s all that difficult for Joe Familyman to find value in it despite the annual fee. 

Message 52 of 73
Highlighted
Established Contributor

Re: AMEX Gold still worth it?


@CWA1984 wrote:

If your single and don't have kids your never going to get enough value from the grocery category to justify the gold card.  Especially if you shop at wholesale warehouses like Sam's Club or BJ's.  The dining category to me is about useless as well since I don't eat out a lot and you have to eat out a lot to get enough spend to justify the gold card.  The food credits are completely worthless to me since I rarely eat out and when I do get something to eat it's usually from sheetz and that codes as gas not as restaurant.

 

Being honest the gold card is completely outshined for a lot of people like myself by the Everyday Preferred.  The EDP is just a lot more useful than the gold card since most people have to drive to work (gas spend), most people make small purchases when out and about (30+ purchases gives 50% bonus), and the grocery base bonus of 3x is just 1x less than the gold card and if you get the bonus it's higher than the 4x of the gold card with EDP giving 4.5x groceries.  Overall a lot of people getting the gold card are really getting it for the "bling".   A lot of gold card holders are just wasting money on the annual fee not getting the value needed out of the card to justify it.    

 

 


+1

 

I agree that I were one of those people who got the card for the “bling” factor. This is why I will be closing it in October as I don’t spend nearly enough on dining and groceries to justify the annual fee. 

 

My Savor has already replaced my Gold. I only use the Gold for the dining credits and occasional Amex offers until I close it when the fee hits.

Amex Green NPSL, Amex Hilton Surpass 5k, Amex Marriott Bonvoy 1k, AMEX BBP 1k, AMEX Biz Cash 6k, BOA Cash Rewards 5k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 8k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 12.5k, Paypal Mastercard 4k, Apple Card 6.5k, Wells Fargo Cash Wise 5k, BOA Premium Rewards 8k, Citi AA Biz 1.5k, Flexperks Biz 3k
Message 53 of 73
Highlighted
New Contributor

Re: AMEX Gold still worth it?

I'm also debating if Should cancel my Gold Amex. Currently spending 1.4-1.8K a month on restaurants with net AF of 30-80$ (not always using GrubHub monthly 10$).Most credit card review sites mention MR points are worth 2.0 cpp but im having difficulty even finding 1.25 cpp.

 

for example, MR to Hilton gives only 0.8 cpp. maybe 1.0 with their occasional  transfer bonus  

 

 


TU: 703 (Barklay| Jan/19 )
EQ:729 (CK| Jan/19)
EX:711 (Amex| Jan/19)
Message 54 of 73
Highlighted
Super Contributor

Re: AMEX Gold still worth it?


@nadoxq8 wrote:

I'm also debating if Should cancel my Gold Amex. Currently spending 1.4-1.8K a month on restaurants with net AF of 30-80$ (not always using GrubHub monthly 10$).Most credit card review sites mention MR points are worth 2.0 cpp but im having difficulty even finding 1.25 cpp.

 

for example, MR to Hilton gives only 0.8 cpp. maybe 1.0 with their occasional  transfer bonus  

 

 


I find most of the websites inflate the value. Yes it is possible to get 2.0 cpp, but I wouldn't say it's the norm like they act like it is. They push people to get products that don't really fit them because if the points were always worth 2.0 cpp, it would be a much easier decision for a lot of people. The problem is that these websites act like that is the normal value of the points and it is not.

Message 55 of 73
Highlighted
Valued Contributor

Re: AMEX Gold still worth it?


@redpat wrote:


It's not just grocery, 20k business and personal dining is 17k more points than CSR/Freedom then add 5k in grocery that 20k mr points that same 5k spend for ur points can only get a max of 12,750 UR points (Freedom / Unlimited Freedom) so that's 7,250 more MR points for a total on 24,250 more points than UR's.  In additional, you can get 40% partner bonus offers resulting in 33,950 miles at a low redemption value of 1.4 is about $475 more value over UR points.  

 

Also, most can net the to $80 AF plat/gold AF vs. $150 w/ CSR 

 

Flights 5x vs 3x just adds to the spread of MR points vs UR points on spending 10k - 15k annually on business flights.

 

I don't like to have points/rewards all over the place.  The eco-system of MR points works very well for some and amex has made it much easier to accumulate these points with the many changes to their cards and adding partners i.e. Ebates.


You are describing a specific scenario and far from "typical case", I understand it works for you, but I don't think thats a general expectation.

 

It's definitely not in my case:

 

  1. I don't have 20k business dining, the reason I spend that much on grocey is so I don't need to do that much dining.
  2. 40% bonus is also a rare event that doesn't happen as common as you make it sounds like. plus, 40% bonus to the airline I use most (delta) is NEVER happening.
  3. 1.4 cpp is not "low redemption value", its a "typical value". With every airline racing to change to dynamic valuation and devalue the miles, that future is not bright on this.
  4. Plat/Gold combo is alot of AF to cut down, it is not always as simple for everybody to reach 80 combined AF without unnecessary spending.
ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪☕ Λlti-ၺ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ ☕▲B | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (N95, KN95, KF94), period.
Message 56 of 73
Highlighted
Valued Contributor

Re: AMEX Gold still worth it?

Everyone is different but I'm quite the opposite of the OP. I don't see the value in CSR and would cringe if I lost my Gold card.

 

The OP mentions that they are concerned about the AA giftcards, so I have to assume that they are a AA flyer since Delta/SWA still work. There's even a united workaround if you search FT enough. Quite possibly the easiest of them all once you find it. With AA upfaring still crediting I don't really see the AA GC issue as a huge blow anymore. If you will buy one business class ticket in a year, you have a very viable option to use your credit on AA. I have Plat Pro Status with American and I still manage ways to use the credit without much effort.

 

I don't see the value of UR anymore unless you love to fly SWA, stay in Hyatts or redeem your points for domestic flights given the 1.5CPP safety net. I despise SWA but I did just redeem 20K in points to fly them to a "Travel hacking" conference in August. They were a quarter of the price of AA/Delta. If it hadnt been for that I still would be sitting on 80K UR points not sure what I'm going to do with them. I still have 60,000 left that I need to burn before we close the CSR. Hopefully ANA F through VS lasts for another 60 days and I can use the UR up for that. I don't think CSR is worth the net $150 AF anymore with the loss of Korean, they don't have any other (unique ) viable partners to achieve the 2CPP they are valued at except Hyatt.

 

For those that aren't obtaining 2CPP through MR easily. Maybe you should consider a different currency or even cash back. Theres just too many options ways to get 2CPP out of MR. Yes most of it is in J/F cabins but it doesn't need to be longhaul to asia. So many sweet spots that people either overlook or don't know about and aren't listed on awardhacker.  You may have to save your points for some extra couple months to get to 80,000 -100,000 points but it really should be easy to get 2CPP.

 

Chase UR is a good currency if your plan is to redeem points for domestic flights as the portal 1.5CPP is a really good safety net given it is quite hard to get a good CPP out of domestic flight redemptions without some sort of sale. I can see the advantage of UR for those which will redeem that way.

 





Total Revolving Limits $254,800

Message 57 of 73
Highlighted
Super Contributor

Re: AMEX Gold still worth it?


@nadoxq8 wrote:

I'm also debating if Should cancel my Gold Amex. Currently spending 1.4-1.8K a month on restaurants with net AF of 30-80$ (not always using GrubHub monthly 10$).Most credit card review sites mention MR points are worth 2.0 cpp but im having difficulty even finding 1.25 cpp.

 

for example, MR to Hilton gives only 0.8 cpp. maybe 1.0 with their occasional  transfer bonus  

 

 


hotels are never good value with MR , you want to look at airline partners for best value. For example the flight I am looking for on ANA JFK-BKK in J is about 5,000 USD using points its 95k MR so a bit better than 5 cpp so it is possible. The more extreme example is what I redeemed for next year. Where I am flying to tokyo in F using VS miles where i am getting closer to 17 cpp. It is possible but you have to look and be very flexible the high CPP values are only if you are willing to fly J or higher. If you are just in regular economy its harder to find 1.5 cpp or higher its possible but with surcharges much more difficult .



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 58 of 73
Highlighted
Super Contributor

Re: AMEX Gold still worth it?


@Shadowfactor wrote:

Everyone is different but I'm quite the opposite of the OP. I don't see the value in CSR and would cringe if I lost my Gold card.

 

The OP mentions that they are concerned about the AA giftcards, so I have to assume that they are a AA flyer since Delta/SWA still work. There's even a united workaround if you search FT enough. Quite possibly the easiest of them all once you find it. With AA upfaring still crediting I don't really see the AA GC issue as a huge blow anymore. If you will buy one business class ticket in a year, you have a very viable option to use your credit on AA. I have Plat Pro Status with American and I still manage ways to use the credit without much effort.

 

I don't see the value of UR anymore unless you love to fly SWA, stay in Hyatts or redeem your points for domestic flights given the 1.5CPP safety net. I despise SWA but I did just redeem 20K in points to fly them to a "Travel hacking" conference in August. They were a quarter of the price of AA/Delta. If it hadnt been for that I still would be sitting on 80K UR points not sure what I'm going to do with them. I still have 60,000 left that I need to burn before we close the CSR. Hopefully ANA F through VS lasts for another 60 days and I can use the UR up for that. I don't think CSR is worth the net $150 AF anymore with the loss of Korean, they don't have any other (unique ) viable partners to achieve the 2CPP they are valued at except Hyatt.

 

For those that aren't obtaining 2CPP through MR easily. Maybe you should consider a different currency or even cash back. Theres just too many options ways to get 2CPP out of MR. Yes most of it is in J/F cabins but it doesn't need to be longhaul to asia. So many sweet spots that people either overlook or don't know about and aren't listed on awardhacker.  You may have to save your points for some extra couple months to get to 80,000 -100,000 points but it really should be easy to get 2CPP.

 

Chase UR is a good currency if your plan is to redeem points for domestic flights as the portal 1.5CPP is a really good safety net given it is quite hard to get a good CPP out of domestic flight redemptions without some sort of sale. I can see the advantage of UR for those which will redeem that way.

 


I agree with a lot that you have said here , I am basically using UR for hyatts these days, I still have my chase UR cards because there is a lot of non AF cards they have that are pretty good for UR accrual. Most on the ink side but still there are some nice options. I will usually use AA or MR for flights. As i have noted before if you are not using MR, UR , or TYP for more than 2 cpp then those types of cards are probably not for you , there are a plethora of cash back cards out there for you.



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 59 of 73
Highlighted
Valued Contributor

Re: AMEX Gold still worth it?


@Shadowfactor wrote:

For those that aren't obtaining 2CPP through MR easily. Maybe you should consider a different currency or even cash back. Theres just too many options ways to get 2CPP out of MR. Yes most of it is in J/F cabins but it doesn't need to be longhaul to asia. So many sweet spots that people either overlook or don't know about and aren't listed on awardhacker.  You may have to save your points for some extra couple months to get to 80,000 -100,000 points but it really should be easy to get 2CPP.

 

Chase UR is a good currency if your plan is to redeem points for domestic flights as the portal 1.5CPP is a really good safety net given it is quite hard to get a good CPP out of domestic flight redemptions without some sort of sale. I can see the advantage of UR for those which will redeem that way.

 


Pretty much only way for 2cpp is international higher class fair travel. If you fly domestic or main cabin, it is very hard to get to that number.

 

UR can net you 1.66 cpp if you have a reward program with airlines, since the payment will earn you miles. At leasst for me, this is higher than anything I have ever been able to get from delta or aa miles.

 
ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟Ⲙilⅇⴑթ ✈☕թroթⅇl ⍟wſ -√ ⚕ᙪᙪ८
⛪☕ Λlti-ၺ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ ☕▲B | ८✙ ┊❡olδ┊ↇᏨ⛪
⸨ꜷ ᐰmzn ᐰ√ ☏⸿i⸿┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢ᖇēẉαrժ✙, ſ-ſlⅇx

PⵢA: Wear a respirator (N95, KN95, KF94), period.
Message 60 of 73
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.