@SuperFlyEDSguy wrote:Congrats on your new AMEX Cards!
Their Gold Card is probably my favorite and most used card. I have several others to capture specific benefits and rewards, but that combo sounds particularly good for you. I'm just curious, why get the Green Card instead of the Platinum Card?
The travel and restaurant rewards/benefits match my relatively transient lifestyle and spend.
As for the Gold, it matches everything else 
@ptatohed wrote:
@Anonymous wrote:
@ptatohed wrote:I ask myself this all the time @FicoMike0 . $400 in annual fees for Green + Gold. ...
I'm genuinely happy for those who love their AmEx cards and can make the math work. Hat's off to you.
Yes. I don't think I said anything to the contrary.
I would say it was a mixed message! There is no need to ask yourself all the time if you really accept (in your heart,..) that these cards merely aren't for you but are great for others. Just like the Honest Bob Top Hat Club card (AF $1000, 20% of all top hats) But you do seem to mention amex cards negatively a little.
As I said, I'm sure they work for some, or many I should say. And that's great. But not for me.
Yes, I do ask myself a lot how a multi $100 AF card(s) can pencil out (vs. straight cash back of 2%+, cashing out regularly, putting it in a high yield account, and shopping for the best travel deals when ready, and paying cash for that travel. Again, in the research I have done, an MRP is worth about 2cpp on the generous side). I'd love to see the spreadsheets on that. But I don't expect spreadsheets from anyone.
For a dedicated cash-back purist like yourself, @ptatohed, it's difficult to visualize the value that some members get from travel points or expensive AF cards. I think that's why you continue to shake your head, since you just don't see it, even though you recognize that some are (apparently) getting sufficient value.
Let's look at the Gold card. And for purposes of example, I'll ignore the AMEX SUB, although that alone can add hundreds of dollars in value since their charge card SUBs tend to be extremely generous compared to those you'd get on cash-back cards. The Gold AF is $250. Steep, huh? However, the $120 ($10 monthly) on restaurants (in particular GrubHub) and the $120 ($10 monthly) on UBER/UBER Eats is something that is easy credited money-back for some consumers. The effective AF then becomes $10 a year. Now, let's say our consumer gets the full 0.02 cpp you estimated per dollar spent. With Gold earning 4x MRs on grocery and dining, that would equate to an 8% return, blowing any cash back card completely out of the water. Even at 1.5 cpp, the Gold can earn 6% on dining and grocery if most of the AF is negated with credits. High MR earnings combined with heavy spend can completely erase that residual $10.
With cards like the Platinum, cardholders who get great value are likely using most of the available credits which can not only fully reimburse the AF but add additional value if all the various credits are taken. However, the other variable with Platinum is the best complimentary airport lounge access program. For travelers who regularly use the lounges, they can more than offset the complete AF with this perk alone, especially if they take family members or travel companions along.
Some consumers take advantage of the AMEX "Offers" which can be worth hundreds of dollars in discounts on larger purchases. Of course, the card (and offers) has to fit the lifestyle to make a significant dent on a high AF.
Also, premium cards with high AFs often include added travel insurances and shopping protections that have an intrinsic value. You might have trouble putting a number on a perk you didn't use that year when you do your spreadsheets, but consumers who carry these cards may be willing to pay some additional fee just to have that perk if and when they need it. For example, on shopping protections with either AMEX Platinum or Chase Sapphire Reserve, that includes additional extended warranty protections, purchase protection if a purchase is damaged, lost or stolen (in first 90 days), or return protection (if retailer won't accept a return within 90 days.) Platinum cardholders get automatic Gold status with both Marriott and Hilton and elevated status with rental cars from Avis, Hertz, and National. And speaking of travel, many consumers highly value access to the AMEX Global Assist Hotline. All-in-all, the various perks have some potential value themselves, which cash-back purists sometimes either fail to recognize or discount the valuation since they don't carry an objective value.
If the high AF cards don't make sense for anyone evaluating them, that's okay! They certainly aren't a good fit for everyone, and even one high AF card may be a good fit for one traveler and not another. These cards are complicated and require a little more attention to detail to see if they make sense for our specific situation.
With all the other cards you have, why would you want the Ollo MC?
From Nerdwallet:
"The Ollo Platinum Mastercard can be a decent option for consumers with fair/average credit (FICO scores of 630 to 689). Even though other credit cards for fair credit may offer slightly better incentives, it's an underserved market overall.
The Ollo Rewards Mastercard, however, is underwhelming in terms of rewards credit cards. Those with good credit (FICO scores of at least 690) can find many other cards with more lucrative rates and benefits."
