Curious; what's the harm in keeping a card that has no annual fee?
@RebelRocket wrote:Curious; what's the harm in keeping a card that has no annual fee?
Can't rant on myFico
@hawkins wrote:I'm sorry to all you Amex lovers out there. If you truly can make use of all the coupons they offer on the likes of the Platinum and now the Gold even further then I salute you. This coupon book mentality that Amex has embraced has gotten out of hand. More annual fees and you get the likes of hey white gold and the funniest one of all Dunkin' Donuts credits. Seriously Amex? I am down to 1 Amex card the blue business plus and will scrap that also next year to become Amex free. What's next 250 for the green and monthly McDonald's credit? Maybe a new color to make you feel better about the annual fee increase? LOL. No more Amex for me. End of rant.
FR, everytime Amex "refreshes" its cards the value of it goes down and the AF goes up. Like is the new Gold change a stronger appeal to Gen Z'ers? If they predict newer users getting the Gold and put all their spend on it to offset $325 AF, it was a good business move on their part, but not for us [semi-enthusiasts
] on the FicoForums. Moreover, I've seen some current Gold holders on the r/CreditCards forum trying to justify that their organic spend would offset the AF using the coupons... That right there is making Amex $$$ at the illogical cardholders expense. One should know within 2 seconds if their current spend fits well within an AF card's categories...otherwise, most likely not for you. If one has to think to justify it, they're probs better off w/ a no-AF card.
While a Green refresh is looming, I don't think it'll be the nail in the coffin for them, as they're riding on the BCE, BCP, and Delta/Hilton/Marriott cards being actually decent for most users. Add on to that their recent good 2024 Q2 earnings report. If all their cards at one point have an AF with the perks currently offered, that should drain them pretty quickly among CC issuers, assuming other issuers won't follow suit.
I heard a blurb the other day how Amex is like Apple in that both hold the "prestige" for their product to cause ooohs and ahhhs, but aren't exactly the best executors in their respective industry. Don't get me wrong, both companies are a Masterclass of marketing. E.g.: Amex uses the life experience approach "don't live life without it" like Mastercard sometimes does w/ their marketing...and Apple milked the hell out of the Titanium wording for their new phone.
Sure would be a shame to see them fall from their own market misconceptions, like Kodak did at the turn of the century.
@Windchill92 wrote:
@hawkins wrote:I'm sorry to all you Amex lovers out there. If you truly can make use of all the coupons they offer on the likes of the Platinum and now the Gold even further then I salute you. This coupon book mentality that Amex has embraced has gotten out of hand. More annual fees and you get the likes of hey white gold and the funniest one of all Dunkin' Donuts credits. Seriously Amex? I am down to 1 Amex card the blue business plus and will scrap that also next year to become Amex free. What's next 250 for the green and monthly McDonald's credit? Maybe a new color to make you feel better about the annual fee increase? LOL. No more Amex for me. End of rant.
FR, everytime Amex "refreshes" its cards the value of it goes down and the AF goes up. Like is the new Gold change a stronger appeal to Gen Z'ers? If they predict newer users getting the Gold and put all their spend on it to offset $325 AF, it was a good business move on their part, but not for us [semi-enthusiasts
While a Green refresh is looming, I don't think it'll be the nail in the coffin for them, as they're riding on the BCE, BCP, and Delta/Hilton/Marriott cards being actually decent for most users. Add on to that their recent good 2024 Q2 earnings report. If all their cards at one point have an AF with the perks currently offered, that should drain them pretty quickly among CC issuers, assuming other issuers won't follow suit.
I heard a blurb the other day how Amex is like Apple in that both hold the "prestige" for their product to cause ooohs and ahhhs, but aren't exactly the best executors in their respective industry. Don't get me wrong, both companies are a Masterclass of marketing. E.g.: Amex uses the life experience approach "don't live life without it" like Mastercard sometimes does w/ their marketing...and Apple milked the hell out of the Titanium wording for their new phone.
Sure would be a shame to see them fall from their own market misconceptions, like Kodak did at the turn of the century.
I'm highly skeptical of annual fees.
They had to do a lot to butter me up to even get me to agree to the Blue Cash Preferred and that's at least a useful card. $95 a year, lots of cash for groceries.
Anyway, everyone else can enjoy their Dunkin' Donuts coffee I guess. AKA yesterday's spent grounds filtered through a dirty gym sock and left on the counter to get cold.
My God, what in the hell is going on in the AmEx Tower that they think anyone would sign up for this new Gold Card?
If they start hiking on the BCP, then I may just drop it back down to a BCE and be happy with 3%, if they mess up that too, I'll just switch to my Capital One SavorOne. Or even the BofA Customized Cash on online pickup at Walmart. (Sans Discover It quarters, of course.)
Or maybe just close it and go to US Bank if there's a $95 AF on the Shopper that covers 2 merchants of your choice at 6%. One can be Walmart.
I suspect AmEx doesn't see us as "productive" because we're shopping at Aldi and not some ritzy grocery store.
Yeah this card seems to be getting worse and worse. Benefits that are tedious to use and just trying force your hand into subscriptions, lame. All be getting it anyway because I won't be paying the AF (Military).
