Card type vs. Income

[Anonymous]

Ive spent $100 on breakfast for two.

Room servic

[Anonymous]

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@jsucool76 wrote:

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@Anonymous wrote:

If you can justify it, by all means.  I'm still debating over a couple of them since the AF's are all about 500.  I can't see giving someone 500 just for the card. 

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You're not giving them $500 for a card. You're giving them between $400-$500 for more money back 

Ritz gave me what I estimate at about $1800-$2000 in value on the signup bonus alone. Breakfast at my first hotel as a gold elite (from the ritz card) was $40 per person, there was 3 of us, and we were there for breakfast 5 days. That's $600 on just ONE STAY savings in breakfast since we got free breakfast in the executive lounge. Then there was the $600 in airline gift cards I bought and was reimbursed for. All in all (not counting any points earned through spend, or the 10% bonus on points earned through spend) thats between $3000 and $3200 in value for $395 my first year (which I then got waived). Gold status alone is enough for me to keep this card. Don't forget PRIMARY rental insurance. 

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Are you sure this isn't an overestimation and an attempt at justification. When was the last time you spent $120 on a breakfast for 3? Primary rental insurance also doesn't apply when you own a car in the United States (and with it, a car insurance). Also, CSP gives you that at $400 a year less.

[Anonymous]

I don't think it has anything to do with your income.  If the rewards you get are worth more than the AF, and are worth more than the rewards you could get from another card with no or a lower AF then the card is a good fit for you.  Keep in mind, worth is subjective.  

[Anonymous]

Dont apply for a amex gold , go for the amex mercedez bendz credit card 

3X on gas up to $400 per transaction

2X on restaurants 

1X on everything else 

Those are membership rewards points by the way 

the annual fee is only $95 compared to the golds $120 + annual fee ! 

[jsucool76]

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@Anonymous wrote:

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@jsucool76 wrote:

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@Anonymous wrote:

If you can justify it, by all means.  I'm still debating over a couple of them since the AF's are all about 500.  I can't see giving someone 500 just for the card. 

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You're not giving them $500 for a card. You're giving them between $400-$500 for more money back 

Ritz gave me what I estimate at about $1800-$2000 in value on the signup bonus alone. Breakfast at my first hotel as a gold elite (from the ritz card) was $40 per person, there was 3 of us, and we were there for breakfast 5 days. That's $600 on just ONE STAY savings in breakfast since we got free breakfast in the executive lounge. Then there was the $600 in airline gift cards I bought and was reimbursed for. All in all (not counting any points earned through spend, or the 10% bonus on points earned through spend) thats between $3000 and $3200 in value for $395 my first year (which I then got waived). Gold status alone is enough for me to keep this card. Don't forget PRIMARY rental insurance. 

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Are you sure this isn't an overestimation and an attempt at justification. When was the last time you spent $120 on a breakfast for 3? Primary rental insurance also doesn't apply when you own a car in the United States (and with it, a car insurance). Also, CSP gives you that at $400 a year less.

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1. On more than one occasion.

2. Primary rental insurance does apply when you have car insurance. Read the benefit guide. on OTHER CARDS, SECONDARY insurance becomes PRIMARY when overseas, or when you're not an insured driver. On the ritz card, the CDW is PRIMARY - Quoted from the benefit guide " The Auto Rental CDW benefit provides reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles. It is primary coverage which means you do not have to file a claim with any other source of insurance before you can receive coverage under this benefit"

3. And how is $95 = to $395-$400? #Math The CSP is $300 cheaper. 

[Anonymous]

Never pay annual fees! That's my story and I'm sticking too it , however my portfolio is a bit extended compared to my spend. If you can justify the af and come out on top, go for it. Just remember, you haven't come this far to pay for a cc!

[Anonymous]

I really think it depends what type of spending you are putting on the card, as others have said. If you travel a lot, one of those higher annul fee cards may be well worth it. IMO, it has little to do with income and more with what you can get out of the card based on your spending patterns. The CSP is a great all-around card; what addtional benefits are you looking for in a card with a higher AF?

[onstar]

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@jsucool76 wrote:

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@Anonymous wrote:

Are you sure this isn't an overestimation and an attempt at justification. When was the last time you spent $120 on a breakfast for 3? Primary rental insurance also doesn't apply when you own a car in the United States (and with it, a car insurance). Also, CSP gives you that at $400 a year less.

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1. On more than one occasion.

2. Primary rental insurance does apply when you have car insurance. Read the benefit guide. on OTHER CARDS, SECONDARY insurance becomes PRIMARY when overseas, or when you're not an insured driver. On the ritz card, the CDW is PRIMARY - Quoted from the benefit guide " The Auto Rental CDW benefit provides reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles. It is primary coverage which means you do not have to file a claim with any other source of insurance before you can receive coverage under this benefit"

3. And how is $95 = to $395-$400? #Math The CSP is $300 cheaper. 

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1. Most people don't. So they cannot value the breakfast at $120 even if they would normally charge $40. This is justification math.

2. You misunderstood speedster. If you have collision coverage from any half decent car insurance (State Farm, Allstate, Nationwide, Farmers, Mercury, etc.), then that will cover as your primary insurance. You don't need to get CDW from the car rental company or even use the one from credit card. Yes, it's nice to have another primary coverage, but in most cases, this adds very little benefit if you already have half decent car insurance.

[Anonymous]

I hear Nixon!  It's easy to spend some $$$ on dining out.  Just depends.  I can definitely spend money if I'm in the mood.  We're still decorating out house.  So that bill alone can go way over what I need to spend.