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I have not used American Express since December 2018 and just this morning I was thinking of how peaceful and normal is it without those crazies.
If you like a card issuer that reneges on SUB after the spend is met I highly recommend American Express. The fun part is that you put 1% spend on Amex when you had better rewards cards in your wallet just to make that spend for the bogus SUB.
If you like a card issuer that drops cash back rewards to 1% light years before the category ceiling is hit, you will love American Express!
Do you want a card issuer that claws back a cash reward after it has been redeemed and posted? Amex is the only one I know of who will accomodate you.
Amex will do what others won't.
If you preference is a card that you can swipe, pay and go on with your life stay far away from American Express.
@Peter1142 wrote:
Amex has some of the stingiest rewards of any higher-end card, the highest interest rate of any higher end credit card (even worse than Capital One!), which is bad if you ocassionally need to carry a balance for a month or two, AND the highest annual fees. All of these other cards have frequent balance transfer offers too, if you ever need to finance a costly purchase. For something niche like Delta Miles I would expect much better like 5% or something. Why do people like Amex so much? Is it just a status thing?
I don't know about all that. The APR on my Cash Magnet is 15.24%. That, to me, is a pretty good rate.
Right now, my APR on the Blue Cash Preferred is only 9% due to a promotion they sent me. I think it is about 21% normally.
As far as stingy rewards? I wouldn't go that far. I think Amex, maybe more than some others, has cards that are tailored for certain uses. I pay $95 a year for the BCP, but get waaaaay more than that back in rewards. Someone who mostly eats out wouldn't.
@Save-n-Invest wrote:I have not used American Express since December 2018 and just this morning I was thinking of how peaceful and normal is it without those crazies.
If you like a card issuer that reneges on SUB after the spend is met I highly recommend American Express. The fun part is that you put 1% spend on Amex when you had better rewards cards in your wallet just to make that spend for the bogus SUB.
If you like a card issuer that drops cash back rewards to 1% light years before the category ceiling is hit, you will love American Express!
Do you want a card issuer that claws back a cash reward after it has been redeemed and posted? Amex is the only one I know of who will accomodate you.
Amex will do what others won't.
If you preference is a card that you can swipe, pay and go on with your life stay far away from American Express.
Sounds like there are a lot of lessons to be learned here but few actually pertaining to the lender.
@Peter1142 wrote:
@Stralem wrote:It depends on the individual. As you’ve laid out, American Express (rather the particular product you have from them) isn’t doing it for you. For other people and their needs, Amex works for them. It’s that simple.
It's not that simple, I am asking why. Why does it work for them and meet their needs versus other options? I genuinely want to know, why do people like AMEX?
I forgot to add they are the hardest cards to get, too! It's not like they are easy to obtain and good for building credit, either.
Why do i like Amex ? I like the fact that whereas no other lender or Credit Union would allow my credit file to speak volumes about me when i needed a personal loan, Amex not only offered me a 25k losn at 8.99, they actually approved me, no poi. Simple process. No other lender would have lent me the 11k i took on my income. Sure their rewards arent the greates for me but making payments is fast and easy snd credit limit updates super fast. I dont chase SUBS but the one or two i did achieve, i received in my account super fast. Also some cards were given via sp spprovsl. Lol try that with triple lindy Cap One. One mans trash is anothers treasure, i just hsppen to like trashy treasure
This topic seems to come up time and time again....
It’s all about personal choice and circumstance. Some cards work for some people, but yet they don’t work for others. Pick what works for your situation.
Personally, I’ve had AMEX cards for nearly 20 years. Not once have I had any issues. The cards I have give me exactly what I expect from them and they serve their specific purpose.
On the flip side, I have an intense, passionate hatred for Chase. I see no reason to ever put a Chase card in my wallet. Thing is, many people will hold Chase in high regard. That’s their choice for their situation.
The short of it, pick cards you like and that work for you. If it isn’t AMEX, pick one of the other plethora of lenders.
It's mainline cards have pretty good reward.
Delta AmEX is no good other than SUB, although I have heard about a refresh. Without refresh, I will probably downgrade my Delta Gld to Blue in month 13.
OP....for me it is 6% cash back on groceries.
@Peter1142 wrote:Going through my credit cards, I signed up for a Delta Skymiles card due to a 60,000 bonus miles offer, and now I have 70,000 Miles which is pretty sweet. But, why should I keep using this card? Versus:
Capital One Venture Card - 2% Cash Back for any travel purchase vs 1% Delta Miles (2% only on Delta purchases). 20.15% APR vs 25%.
Citi Double Cash - 2% Cash Back for anything vs. 1% Delta Miles. No annual fee vs. $100/year. 15.24% APR vs. 25%.
Wait why don't I use this card instead of the Venture that has been my spending card for the past few years? This seems the best deal out there.
Discover IT - No annual fee vs $100/year. 1% Cash back with 5% cash back in rotating categories. 15.24% APR vs 25%.
Amex has some of the stingiest rewards of any higher-end card, the highest interest rate of any higher end credit card (even worse than Capital One!), which is bad if you ocassionally need to carry a balance for a month or two, AND the highest annual fees. All of these other cards have frequent balance transfer offers too, if you ever need to finance a costly purchase. For something niche like Delta Miles I would expect much better like 5% or something. Why do people like Amex so much? Is it just a status thing?
Hahaha be careful, some folks on these boards are very passionate one way or another.