I saw an article that says the average Amex customer spends just over 24,000 a year on their Amex, so 2 grand a month.
It also went on to say that on average people spend almost 50% more on their Amex compared to their visa/mc.
so it got me curious and gave me an idea, if you feel comfortable saying how much you spend on your Amex each year for s and giggles. Feel free, if you don't wish to disclose that information, you can at least see if you are an "above average" customer in Amex's eyes.
anything over 24k/yr would put you above average, using that data we can extrapolate and guess that anything over 35-40k/yr would probably be considered elite.
Honestly, I thought the average Amex customer would be closer to 50k/yr. But maybe it's gone down in recent years since COVID?
We use AmEx for the first $12,000 of groceries each year (we have 2 BCP cards) as well as about $5,000 in gas and $2,000 on Amazon/Walmart Pay with our BCE card. So that's just under $20,000. Roughly.
My household is just slightly "below average" for Amex this year, but our spend is spread out amongst several financial institutions. Do you have any comparable stats for other issuers?
Yes on average people spend 43% more on their Amexs vs visa or master making the average spend for other issuers roughly 13,500/yr.
@Cblough93 wrote:
Yes on average people spend 43% more on their Amexs vs visa or master making the average spend for other issuers roughly 13,500/yr.
For my household, Amex spend is exactly in the middle of our issuer portfolio. Half got more spend than Amex, and half got less spend.
Edit to say: It looks like the spend stats are comparing payment networks instead of issuers. I'd have to crunch some numbers to figure out Amex vs Visa vs MC vs Discover. However, I'm sure that Discover will be the bottom dweller in my household.
@NoHardLimits wrote:
@Cblough93 wrote:
Yes on average people spend 43% more on their Amexs vs visa or master making the average spend for other issuers roughly 13,500/yr.
For my household, Amex spend is exactly in the middle of our issuer portfolio. Half got more spend than Amex, and half got less spend.
Edit to say: It looks like the spend stats are comparing payment networks instead of issuers. I'd have to crunch some numbers to figure out Amex vs Visa vs MC vs Discover. However, I'm sure that Discover will be the bottom dweller in my household.
Ran my numbers for payment networks:
Amex = 17%
Visa = 50%
MC = 30%
Disc = 3%
@Saleen099 @NoHardLimits @Kforce
Hey guys,
While I have you all here I wanted to ask a question related to the topic of Amex spending.
I came across a post of a financial review case from 2019, I would have asked the question on the thread itself but it's been dead for like 5 years.
the thread I'm talking about involved an Amex customer who gave a buddy an AU card, and that person used the card to buy something from his own busines. Which I guess Amex frowns upon? So, a card with his name, used to purchase goods from a business in his name caused a FR.
now my question is this, I work somewhere and that involves me taking clients out. When I do this I will often pay for the meal with my personal card, and then bring the receipt back and get reimbursed with either petty cash or a reimbursement check.
So, if Amex ever questions how much I'm charging vs my income, my plan was to tell them that I get fully reimbursed for a large number of my transactions. However after reading that old thread, I'm now wondering if that would also trigger a financial review.
obviously the biggest difference is that I do not own this company, I simply work there. So I should be fine right?