Signature vs American Express

Anonymous · ‎04-13-2017

So my question is this, I have the Amex PRG and the Amazon Prime Sugnature:

Amex PRG:
3x airfare purchase
2x Restaurant+gas+US supermarkets
1x everyone else

I like the card but I don't travel and I see no point in paying the $195 annual fee..

Amazon prime Signature Visa
5% Amazon
2% restaurants, gas stations and Drug stores
1% everything else

I shop on amazon ALOT, I like the Amazon best but my question is

What's some benefits that Amex has over Visa signature and some benefits that Visa signature has over Amex?

Is it worth keeping the PRG even though I will never use it to its full "potential?"

I feel like the Amazon prime is the better card, but that's just me.. what's your guys opinions?

austinguy907 · ‎04-14-2017

Dump the PRG and pick up an ED w/o an AF. This will keep your points and switch things up a little bit instead of 3x airfare.

Anonymous · ‎04-14-2017

@Anonymous wrote:
So my question is this, I have the Amex PRG and the Amazon Prime Sugnature:

Amex PRG:
3x airfare purchase
2x Restaurant+gas+US supermarkets
1x everyone else

I like the card but I don't travel and I see no point in paying the $195 annual fee..

Amazon prime Signature Visa
5% Amazon
2% restaurants, gas stations and Drug stores
1% everything else

I shop on amazon ALOT, I like the Amazon best but my question is

What's some benefits that Amex has over Visa signature and some benefits that Visa signature has over Amex?

Is it worth keeping the PRG even though I will never use it to its full "potential?"

I feel like the Amazon prime is the better card, but that's just me.. what's your guys opinions?

You're comparing very different cards, but you can decide on each in a similar way. The Amazon card is a cashback card, and its $99 annual fee (Prime membership) also gives other Amazon-related benefits. If you use Amazon and Prime benefits often enough, then it's worth it.

The Premier Rewards Gold card is a travel points card. If you're a frequent flyer, then you can get free flights with your points and the annual fee is worth it.

Just like any credit card with an annual fee, you need to decide if the card's benefits are greater than the annual fee. If they are, then keep and continue to use the card. If you're paying more to keep the card than you're getting out of it, then it's better to close the card account.

Anonymous · ‎04-14-2017

Ahh I see, thank you, but part of the question was that was the big difference in the perks and benefits of both cards?

Another question is, how long should I wait to close the PRG? And how would it effect my credit? Should I close it as soon as I get my point bonus? Or until the year hits?

Anonymous · ‎04-14-2017

Great question op! I thought I would get more out of my PRG but I haven't. I might cancel mine and go back to using my Prime card as a daily driver.

Anonymous · ‎04-14-2017

Yeah, also what does OP mean?

longtimelurker · ‎04-14-2017

@Anonymous wrote:
Great question op! I thought I would get more out of my PRG but I haven't. I might cancel mine and go back to using my Prime card as a daily driver.

No! (Well, at least it is a better card now). At least get a 2% for things outside the Amazon categories. Getting 1% cashback on anything makes little sense these days

HeavenOhio · ‎04-14-2017

@Anonymous wrote:
Yeah, also what does OP mean?

Original poster. That woud be you.

Anonymous · ‎04-14-2017

Ahhh i seee, thanks .

Anonymous · ‎04-14-2017

@Anonymous wrote:
Ahh I see, thank you, but part of the question was that was the big difference in the perks and benefits of both cards?

Another question is, how long should I wait to close the PRG? And how would it effect my credit? Should I close it as soon as I get my point bonus? Or until the year hits?

I'd suggest closing the PRG before the next time they charge an annual fee. Basically, it doesn't hurt to have it for a year.

Regarding general perks and benefits for those cards, neither are great outside their particular focus area. A 2% cashback general spend card like Citi Double Cash or Blispay would do as well or better in everything except travel (for the PRG) or Amazon purchases (for the Amazon card). There are other cards that could potentially do more for you, but to know what those are, we'd need to know how much you spend on specific categories per month. Nerdwallet has a useful tool to calculate how much cashback you'd get based on your spending in 3-4 defined categories.