Amex may come out with new cards or some decent changes

[K-in-Boston]

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@Anonymous wrote:

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@budugu wrote:

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I guess you mean "A lot of credit card touts."  Sebby wouldn't know finance if it walked up to him and slapped him.

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I agree with your sentiment in general about YT "finance gurus". But in fairness, he is probably one of the more accurate ones. Never seen him say any thing explicitly wrong. Does not try to get on "great investment ideas" or how he is beating the system etc. 

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You probably missed the video where he said you needed to have at least  21 credit cards [Mod cut - even to show where it's bad advice, links to AskSebby are not allowed here]  to have a perfect 850 score.  

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Some other greatest hits:

• If you are an authorized user on a Chase credit card, you are not eligible for SUBs on those same cards.
• Marriott credit cards cannot be product changed.  (At the time he wrote that article, there were about 8 Marriott and Ritz products available that you could PC to.)
• He currently touts getting both business and personal versions of the Amex Delta Reserve and Platinum cards to get the Status Boost with large spend.  Hopefully anyone spending that kind of money knows well enough to read the fine print, as you can only receive the bonus MQMs on one each of the Platinum and Reserve cards, not personal and business versions of each.

Monetization is his priority, not accuracy.

[longtimelurker]

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@K-in-Boston wrote:

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Monetization is his priority, not accuracy.

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But to be fair, MyFico doesn't do Monetization well.   (Well, apart from all the checks I get for launching FoTM under other logins, thanks AOD!)

[Anonymous]

Consider me at attention for upcoming changes to the Platinum or whatever card they decide to release (if they are going to do that). They always throw a 75k offer at me (I don't think I will get a 100k due to gold card). But if the airline credits became more flexible and they threw in a few other good benefits, I could be sold. Especially with the extended bonus completion window for people approved before May 31. 

Guess I will stay tuned. 

[TheFIGuy]

I can say MR point redemption to Schwab Brokerage Accounts stopped working on 04/24 and are still down. Time will tell if this is due to the upcoming changes or just Schwab resource-limited due to USAA investment account acquisition.

My wish list for the summer is 2.25cpp redemption to Schwab Brokerage Accounts. I like dreaming 

[UpperNwGuy]

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@Remedios wrote:

You probably missed the one where Chase cards cure common cold and cholera. 

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Are you suggesting that "the cure" doesn't really work?

[Anonymous]

I called Amex about product changing my Hilton Aspire card to the no AF Hilton until I travel again next year. I asked about the potential changes next month to the Platinum cards. I was told they are refreshing the high end AF cards in the first week of May. Guess, I will wait to see what the refresh benifits are before I product change my card. 

[Anonymous]

Technically wouldn't an Amex analyst being excited just mean they're launching more ways to generate revenue, rather than it being something good for the customer? I don't know what they could have planned that would benefit everyone, all those food delivery apps do not operate here. I'm lucky that I can use Grub Hub once a month at KFC, as they literally had no presence here two years ago. Otherwise i would not be able to use the Dining credit at all. 

I think the biggest hump is the $100 incidental fee credit that most cannot take advantage of, so if they're able to reimburse that on "other types" of expenses interim it might be helpful. The question is what, if you're not traveling what could a person possibly have in "incidental" fees? 

The final question would be, what happens to this system next year or the one after? Or will they go back to the same old Travel rewards we used to know.

[KJinNC]

I'm glad they are at least thinking about this, although I suspect that the changes will be underwhelming to some.

I got my Platinum Card in January, and got some benefit from it on one trip. Otherwise, I've been slightly regretting getting it when I did, since I doubt I'll get much benefit from it again until this winter or next year.

With the AF, they could make it give big MR or even cash back rewards beyond what their other cards do, until travel starts to normalize ... though I doubt they will. I think they'll just shuffle the statement credit options, that sort of thing. Guess we'll see.

[dragontears]

Maybe I am just pessimistic but I don't see Amex making changes that will just cost them $$ such as significantly increasing the earn/cash redemption rates, making credits easier to use, etc. Amex doesn't care about consumers, they care about making money. 

I predict that most of the changes will be beneficial for <15% of people and they add a bunch more hard to use credits.

[Anonymous]

I don't mind AskSebby videos. I don't think he has ill will from the videos, its just some info isn't current or not applicable in all situations. His perspective is from a FT point of view. MyFICO is well... set on underlying FICO scores and improving credit to gain better rewards. I wouldn't follow his advice financially, but they are entertaining videos. As always, take it with a grain of salt and corroberate against other sources. 

But anyway, I bet everything will get added value execpt the Gold.  Gold card's reward structure is relatively unaffected by this. They did just buy all those Hilton points. I wonder if they will front load a lot of people with HH points when they renew to keep the card another year.