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American Express gold card af pays for itself plus

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Frequent Contributor

Re: American Express gold card af pays for itself plus

Cell phone thing exist it's only through June for me
br>Starting score520
Current Score: FICO 8- 730EX, 741TU, 729EQ, Mortgage- EX 671, EQ- 692, TU 691
Goal Score: 760 by (2/2020)
Buisness CC- Amex Simply $ Plus-6/26/19- 1300-Amex BBP-6000-8/6/19-
Personal Cc's
7/19 Citi rewards+-(wmc)5400
5/19-Amex rose Gold npsl(25000-pot), 5/18-1st Disco it- 2000 , 5/19-2nd Disco it- 2000
6/18-Dcu-3000-
12/18Amazon-6000-
Walmart-5000
2/19-Home depot- 2000-500SL increased to 2k day of app.
6/18-dcu2.74 Auto loan(re-fi a 25% apr auto loan)
Inquiries(scorable)-Ex-7,
Eq-3,
Tu-4
Goal score 800



Message 11 of 39
Super Contributor

Re: American Express gold card af pays for itself plus

While I can agree the Gold card is not for everybody. When I was looking at EDP and Gold card, I did the math on how much I spend with their categories to see if its worth it for me to have the Gold. For my personal spending it would net me around 45-50k per year just on the bonus categories. So that alone made it worthwhile for me, I haven't even calculated in food credits and airline credits you get.

 

In general though if you aren't going to use any MR or UR card with an AF and not use it for travel then you are probably doing it wrong. You can't really compare cash back cards to MR/UR/TYP cards imo.



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 12 of 39
Valued Contributor

Re: American Express gold card af pays for itself plus


@dtk6802 wrote:
Thank you for the information I had to do more research.Yes it is a targeted offer. It states 10% back up to $15 per statement. It seems as if it could be an offer for a few months. And said sign up for offer and receive 10% statement to credit card per bill. Hopefully this offer is not just a couple of months and is year-round. I may have to call American Express and ask

This is a limited time offer and doesn't roll around very often. Maybe once a year from what I've seen. It varies too depending on IF/HOW you are targeted. My last cell phone offer was capped at 2 statements.

 

Amex offers can be extremely lucrative if you get targeted for the good offers alot, my charge cards always get better offers then the other AF amex's I have. Gold has better offers then Platinum for me.

But it's all targeted so if you arent selected you can have some dry streaks for a while, so dont count on amex offers being a 24/7 gravy train.





Total Revolving Limits $194,600

FICO 8 scores 04/2019
EX-778
TU-714
EQ-716
Message 13 of 39
Valued Contributor

Re: American Express gold card af pays for itself plus

While we are on the subject of Amex cards paying for themselves.....

 

If you travel internationally alot in F/J you can get some serious savings through Amex Platinum IAP. I just saved $955 on two J Qatar tickets. The card just paid for itself for two years. Now the credits/perks/benefits are the icing on the cake.





Total Revolving Limits $194,600

FICO 8 scores 04/2019
EX-778
TU-714
EQ-716
Message 14 of 39
Super Contributor

Re: American Express gold card af pays for itself plus


@dtk6802 wrote:
Anybody who is interested in possibly obtaining the gold card, but decided not to due to af.
You receive- 10$ per month for paying cell phone bill.(120 annually)

I don't get any such thing

10$ back also per month when use card for GrubHub, seem less etc.
100$ in travel

Only on airline incidentals

Nevermind the fact the welcome offers more than pay for the af. Even 50,000 mrps redeemed at.5 cents as statement credit covers the fee. Plus can maximize it with travel/many gift cards worth 100$ with 10,000 mrp's of the 35,000 or 50,000 mrps received after spending 1000 in 3 months.

Mine was only 25,000 MR's. But so what, it's only a 1-time thing. Irrelevant to figuring out whether the annual fee is worth it.

I understand everyone won't receive the same offer as me 50,000 mrps after 1000 spend in 3 months, but like I said 35000 mrps isn't bad.
As for annual fee in the following years-
I would say it would be difficult not to earn more than 250$ total with everything the card offers.

Why break even, when you can get no-AF cards with produce rewards? If you love MR's, as you seem to, you can get them with the Amex Everyday card.

I'm writing this because I was one of those people who was afraid of the af...
After I did the research and math I realized I Could not only break even but most likely gain a few hundred dollars a year.
As for travel seems like points double when used correctly.

I personally haven't found MR"s to be so valuable. So far the best thing I can do with them makes them worth about 1.25 cents.

Personally I haven't had a real vacation in few years, and might use my points to fly my fiance and 10 month old somewhere beautiful I just have to do more research.
Hope this helps somebody who had same thoughts as me about af.
Mods please move if posted in wrong place

 


FICO 8: EQ 735 TU 760 EX 729 Total revolving limits 719k (592500 reporting)
Message 15 of 39
Valued Contributor

Re: American Express gold card af pays for itself plus


@redpat wrote:

@galahad15 wrote:

Not interested in any cards that have an AF, no matter how generous the benefits are -- I have several Amex cards that are on the Amex network but not Amex-company owned, all AF-free.  My FNBO Amex Travelite card for example offers an annual $100 airfare travel incidetals credit, a $100 credit on TSA-Pre or Global Entry, 3% cashback on travel purchases,  and 1.5% cashback on all other purchases.  IMO, I would rather have a card with slightly less benefits but no AF, over a card with more generous benefits but a corresponding AF.  Just my own personal preference though, YMMV.


Do you travel a lot?


Not that much -- maybe once or twice a year twice max, at least by airline?  However, I also do commute every work day back and forth using my local subway system, for which I will usually charge the ongoing fare for to my travel cards in order to earn travel rewards and redemptions, etc.

Message 16 of 39
Frequent Contributor

Re: American Express gold card af pays for itself plus


@Shadowfactor wrote:

While we are on the subject of Amex cards paying for themselves.....

 

If you travel internationally alot in F/J you can get some serious savings through Amex Platinum IAP. I just saved $955 on two J Qatar tickets. The card just paid for itself for two years. Now the credits/perks/benefits are the icing on the cake.


This is a strange program that I've never heard of, seems like an amazing perk if you fly premium economy or better internationally.  Thanks for the heads up =D




Message 17 of 39
Valued Member

Re: American Express gold card af pays for itself plus

Amazon often has $30 off $60 purchases on Amazon for redeeming 1MR promos, which is icing on the cake for me.

Message 18 of 39
Moderator

Re: American Express gold card af pays for itself plus


@CalBears wrote:

Amazon often has $30 off $60 purchases on Amazon for redeeming 1MR promos, which is icing on the cake for me.


I always take advantage of the Amazon promo as well, but you can't really count it against the Gold annual fee since it works with the free Everyday card just the same.

Message 19 of 39
Frequent Contributor

Re: American Express gold card af pays for itself plus

Appreciate it. Glad I was targeted with great offers so far from them, but with the GrubHub( my DW loves GrubHub). With ALL the spend this card will get I'll end up killing the annual fee with or without my 50000mrps after 1000 spend. I'll make out big time with this card
br>Starting score520
Current Score: FICO 8- 730EX, 741TU, 729EQ, Mortgage- EX 671, EQ- 692, TU 691
Goal Score: 760 by (2/2020)
Buisness CC- Amex Simply $ Plus-6/26/19- 1300-Amex BBP-6000-8/6/19-
Personal Cc's
7/19 Citi rewards+-(wmc)5400
5/19-Amex rose Gold npsl(25000-pot), 5/18-1st Disco it- 2000 , 5/19-2nd Disco it- 2000
6/18-Dcu-3000-
12/18Amazon-6000-
Walmart-5000
2/19-Home depot- 2000-500SL increased to 2k day of app.
6/18-dcu2.74 Auto loan(re-fi a 25% apr auto loan)
Inquiries(scorable)-Ex-7,
Eq-3,
Tu-4
Goal score 800



Message 20 of 39
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