I have a relationship with Chase, none with Amex. I'm looking to add one personal and one business card. Pre-approved for Chase Business Premier and already have a Business Cash, but no personal Chase cards. Long story short, I have a small business thats doing pretty and finally after working hard the last few years on that, we are ready to start traveling. Very little business travel, maybe a couple times a year. Most travel will be personal time with family. Amex has always been the gold standard and want to take advantage of rewards. I'm basically using all my cards now as charge cards and leaving just a small balance each month, so might as well rack up on the rewards. Currently at Fico8 Exp 787, Eq 719, TU 752. Utilization is 6% with $97k in credit lines. Looking to book a couple flights so want to make up my mind on what to pull the trigger on. Considering Amex Gold, Platinum, Freedom Blue or Chase Freedom Unltd, Sapphire for personal. For business Amex Business Gold, Platinum or Chase Business Unltd or Business Preferred. Are the Amex perks really worth all the hype? Anything else recommended to look in to?
@rsa85 wrote:Are the Amex perks really worth all the hype?
No idea... but I can tell you this. Since getting my Amex Delta Gold in May of last year my last 3 Seattle/Orlando round trip flights have been free... and 2 of them were first class. The one I have booked for October is also free... and I have one more trip yet to purchase for Feb as soon as the schedule opens up that should also be free... currently sitting on 32k miles.
This is all from my SUB and monthly spend. 5 free cross country trips for using a card? Sign me up.
What are your major business spend categories? And your approximate total annual business spend?
@TRC_WA wrote:
@rsa85 wrote:Are the Amex perks really worth all the hype?
No idea... but I can tell you this. Since getting my Amex Delta Gold in May of last year my last 3 Seattle/Orlando round trip flights have been free... and 2 of them were first class. The one I have booked for October is also free... and I have one more trip yet to purchase for Feb as soon as the schedule opens up that should also be free... currently sitting on 32k miles.
This is all from my SUB and monthly spend. 5 free cross country trips for using a card? Sign me up.
Nice! Yeah, sign me up too.
@wasCB14 wrote:What are your major business spend categories? And your approximate total annual business spend?
Marketing/advertising, supplies, Dues/subscriptions, software, car...then the normal salaries, phone, etc.
Roughly around $120k (not including salaries), goes up about 15% each year.
@rsa85 wrote:
Looking to book a couple flights so want to make up my mind on what to pull the trigger on. Considering Amex Gold, Platinum, Freedom Blue or Chase Freedom Unltd, Sapphire for personal. For business Amex Business Gold, Platinum or Chase Business Unltd or Business Preferred. Are the Amex perks really worth all the hype? Anything else recommended to look in to?
You will probably get differing perspectives, @rsa85, since the answer depends on many considerations. I'm more of a Chase UR fan myself.
All-in-all, you'll have to look between the cards, see where you find value, consider how you'll use them, and do your own math. Either system can be a good fit for the right person.
I also suggest you look into the Venture X Visa Infinite as well as the US Bank Altitude Reserve Visa Infinite.
@Aim_High wrote:
@rsa85 wrote:
Looking to book a couple flights so want to make up my mind on what to pull the trigger on. Considering Amex Gold, Platinum, Freedom Blue or Chase Freedom Unltd, Sapphire for personal. For business Amex Business Gold, Platinum or Chase Business Unltd or Business Preferred. Are the Amex perks really worth all the hype? Anything else recommended to look in to?.
All-in-all, you'll have to look between the cards, see where you find value, consider how you'll use them, and do your own math. Either system can be a good fit for the right person.
I also suggest you look into the Venture X Visa Infinite as well as the US Bank Altitude Reserve Visa Infinite.
Really appreciate the detailed response and insight @Aim_High, very helpful. I realized I had convinced myself I really wanted Amex, but decided I should give a more thorough look.
@Aim_High wrote:
@rsa85 wrote:
Looking to book a couple flights so want to make up my mind on what to pull the trigger on. Considering Amex Gold, Platinum, Freedom Blue or Chase Freedom Unltd, Sapphire for personal. For business Amex Business Gold, Platinum or Chase Business Unltd or Business Preferred. Are the Amex perks really worth all the hype? Anything else recommended to look in to?
- MRs and URs can be equivalent value on the high end (up to ~ 2 cpp each if redeemed for travel by transfer to airline partners.) So if you're sure your only redemption is for travel, the points systems are equivalent. On the low end, Chase URs have a floor of 1 cpp cash value whereas MRs have a cash value of 6/10 cpp. For gift cards, you may be able to reach between 6/10 cpp and around 1 cpp. With a Charles Schwab Platinum, you may cash out at 1.1 cpp but that is the exception. And in-portal, the Chase Sapphire Reserve's points are worth 50% more meaning you always get 1.5% in-portal. AMEX points in-portal are worth 1 cpp unless you redeem with Business Gold or Business Platinum for enhanced value. (25%/35% bonus when redeeming points for flights through the portal.) In my case, I value the easier flexibility and value proposition of URs without the complications.
It's not a 25%/35% bonus. It's 25%/35% of point back.
1/.75 = ~1.33 cents per point
1/.65 = ~1.54
But there are other limitations.
Advertising is eligible for 4x on Amex Business Gold, though there may be exceptions I don't know about. I mostly pay contractors and buy appliances, so B Gold's bonus categories don't do as much for me as B Platinum's.
@wasCB14 wrote:
@Aim_High wrote: ... AMEX points in-portal are worth 1 cpp unless you redeem with Business Gold or Business Platinum for enhanced value. (25%/35% bonus when redeeming points for flights through the portal.)It's not a 25%/35% bonus. It's 25%/35% of point back.
1/.75 = ~1.33 cents per point
1/.65 = ~1.54
Thanks for that clarification on the business card point enhancements, @wasCB14. I used the "bonus" term since that is how AMEX simplifies the concept in their own advertising for both cards.
Your example does show exactly how that works out though. And again, for these benefits to be useful, the distinctive business card credits (very different from the personal version credits) would have to be organically attainable to help offset the steep AFs.