Why I Stopped Using Amex Credit Cards

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I used to love spending on my American Express credit cards and earning those sweet, sweet Membership Rewards points.
The American Express Platinum card and the American Express Gold card played a significant role in my core credit card setup for a long time.
But after using these cards for several years, I’ve decided to cut them as primary cards on my roster, and in this video, I'll tell you why.
Here are the 4 main reasons why I stopped using my Amex credit cards:
1. I don't travel much internationally
2. Amex multipliers are not that competitive (with high annual fees)
3. Multiple Statement Credits
4. Recent Welcome Offer Changes
I still think American Express is an excellent company with very compelling cards, but I won't be using them as primary cards for spending.
Out of my 7 current American Express credit cards, I plan on closing about half of them, so watch this video to the very end to find out more!
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Chapters:
00:00 Intro
00:22 Primer
01:20 No More Amex
11:14 My Future Amex Plans
13:21 Outro
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Note: This description contains affiliate links, meaning that I may earn a commission if you click through these links and successfully apply, sign up, or buy the product or service mentioned.
Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice. This video, and any ideas presented in it, are opinions and are provided for entertainment purposes only. Please do your own research and consult your own financial, tax, or legal professional for specific advice.
#creditcard #americanexpress #creditcardrewards

Опубликовано:

19 июл 2024

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Комментарии : 445

@L-Man-Gaming 7 месяцев назад

Capital One is on the rise and Amex is on the decline. What a time to be alive.

@TheCreditFrog 7 месяцев назад

LOL! This wins best comment. Will be pinned.

@MattClausen 7 месяцев назад

Depending on which flavor of Capital One’s Baskin Robin’s availability of cards.

@TheCreditFrog 7 месяцев назад

@@MattClausen Defiitely true 👍

@bluekai85 7 месяцев назад

Customer service is not on the same level.

@SectionChief 7 месяцев назад

Capital One is not as inviting, warm, or fuzzy to some people; in part or at all.

@SpencerJohnsonOfficial 7 месяцев назад

Amex's credit cards are awesome for the right person, but I would argue that a majority of people with Amex cards are NOT the right person for the cards. Your new setup makes a ton of sense for your situation and I can see myself following suit in the future. For now, I'll stick with earning a ton of transferrable currencies, but leaning more towards team cashback one day is definitely appealing to me in a way. You killed it with this one Stan! Nice work 👊🏼

@TheCreditFrog 7 месяцев назад

Thanks so much, Spencer! For sure, it really does depend on the person since we all have such different spending patterns, travel preferences, and geographical locations. Transferrable currencies are still the way to go (in my opinion), and you have a lot of them with your setup! I think getting the CSR was a great move in your situation, and I'm looking forward to seeing how you like this card as you use it more!

@dgasmd1 7 месяцев назад

Transferring points to "airline partners" is hugely beneficial ONLY if you spend quite a bit of time hunting where and when to transfer those points. It is exhausting and time consuming to say the least. The other thing NONE OF THESE RU-vidR tell you is that in order to have all those rewards and thousands of points you have to spend Hundred of thousands of dollars. Seems like common sense, but frankly if you spend enough money it is irrelevant whether you do cash back or points. I pay almost everything with CC, and have 3-6%+ reward in all of them, but if you are not spending the money, all of this is irrelevant and a pipe dream!!!!

@newagain9964 6 месяцев назад

@@dgasmd1but with good cash back strategy u can get those nice travel experiences at greater values than pts. And less headache!

@shawn.credit 6 месяцев назад

I can never get myself enough Amex cards haha! Curious if another personal Amex Green revamp will happen, if it ends up being more rewarding with added categories I may reapply for it in the future.

@jakemercure 7 месяцев назад

Thats so funny we felt the same thing at the same time. I totally agree with you Stan. Amex is being annoying for changing everything without notice. Nice Video !!

@TheCreditFrog 7 месяцев назад

Haha! I thought the same thing too Jake! I film my videos usually a month in advance so it was very coincidental that we had similar videos on the same topic! Great minds think alike!

@CallMeLani 7 месяцев назад

Its always important to re-evaluate your setup if its not working towards your goal(s). Great video on how you're making a pivot around what's important to you.

@TheCreditFrog 7 месяцев назад

For sure Lani! Yeah, times change, and I think your credit card setup has to adapt as well. I appreciate you, and hey, it's great to meet another credit card creator! Very solid editing on your videos. Keep up the great work!!

@jimmyjames6492 7 месяцев назад

Interesting video for sure. I've been contemplating a similar type strategy with AMEX - only getting the cards with the perks we benefit from and not focusing on earning MR pts anymore. Thanks for the info + video!!!

@TheCreditFrog 7 месяцев назад

Of course, Jimmy James! Yeah, I think that's the best method moving forward to get the most value! Amex still has some great benefits on their cards so at least they have that going for them.

@MattWelterOfficial 7 месяцев назад

I think a lot of the frustrations with Amex that you expressed here are very relatable for a lot of us. With competition heating up from other issuers like Capital One, there's just a lot of options out there for earning points at much lower annual fees (like the Savor One vs Amex Gold comparison you discussed). The increase of annual fees along with the introduction of new statement credits is definitely annoying since a lot of Amex Cards look unrecognizable from how they used to, and of course Amex loves to put those statement credits into hard to use increments haha. Always a great idea to take a look at your own spending/travel preferences for adjustments to your CC Strategy and definitely seems like you did a great job of doing so with keeping Cards open that directly benefit you like the Bonvoy Brilliant while planning to cancel others that don't like the Amex Gold. Great video as always Stan!

@TheCreditFrog 7 месяцев назад

Thanks Matt! Yeah, it's so interesting to see how all of our credit card setups are evolving. Just last year, I was still in the mindset that the Gold card would be a "forever" card, yet here I am planning on canceling the card because of my experiences in 2023. It just goes to show that it's important to have credit cards that fit your current lifestyle. I certainly bought into the hype, but I don't regret it, because I was able to learn from the experience of paying multiple, multiple monthly statement credits, and realize that this is not a great long-term strategy! I think you and I have some thinking to do because we only have so many Amex credit card slots, but we both want Hilton/Marriott cards so we'll have to see what happens with these cards as well!

@BradleyBishop 7 месяцев назад

I'd actually be happier if they had a lower AF and got rid of all of the coupon-book nonsense. Say the Green costs $100, Gold $150, and Platinum at $450 (keeping the travel perks but getting rid of all the non-travel related nonsense of "this is how the card pays you back"...). I'd bet part of their strategy is that they want the card to be the most expensive "common" card to make it feel more elite.

@lashadow8 7 месяцев назад

Finally! Treat AmEx like the unforgiving coupon book that they are. Stan speaks facts. 🐸💰

@TheCreditFrog 7 месяцев назад

Appreciate it bro! Yeah, if Amex wants to be a coupon book, a coupon book they will be! 🐸🔥

@JonsCreditAndTravel 7 месяцев назад

Hey Stan. Good video. Im still an Amex fan and with a minimum of 2 vacations planned abroad, it makes sense. Since you are basically a domestic traveler only, it makes a lot of sense to cancel your Amex cards. I would probably do the same if I were in your shoes. Good information as always sir. Thank you for sharing.

@TheCreditFrog 7 месяцев назад

Hey Jon! Appreciate it man! Yes, I think it's super important to have the end goal in mind with Amex so you have a use for your points when you end up getting them! Yeah, I wish I traveled more internationally, and I am planning a trip next year basically to evacuate all of my MR points, but I wish there was a better domestic redemption option for Amex, which there really isn't. I'd probably get better value from transferring to Hilton/Marriott!

@axelgonzalez9687 7 месяцев назад

The capital one savor is better than most American Express cards in my opinion

@TheCreditFrog 7 месяцев назад

I don't know about most Amex cards, but it definitely gives the Amex Gold serious competition when it comes to the best food card out there!

@shawn.credit 5 месяцев назад

So much value with the Savor One 3x and the entertainment category is excellent!

@itsme7285 3 месяца назад

This validates me so much! I literally just downgraded my AMEX card and got the Capital One that I'm working on getting that sweet bonus on. Thanks for the validation!

@TheCreditFrog 3 месяца назад

You’re welcome! Glad you agree. Congrats on the new card! 🎉

@MontyTheCardNerd 7 месяцев назад

Great stuff, all of your future plans for your Amex cards are logical and catered towards maximizing value as it pertains to your own organic spending. A lot that all of us in the audience can learn!

@TheCreditFrog 7 месяцев назад

Thanks Monty! Yeah, I'm happy that you found that explanation to be pretty clear. It's definitely important to try and keep it to organic spending as much as possible! With these statement credits, it's sometimes hard to do so!

@SledgeIncTeam 7 месяцев назад

Good thing for me, I've gotten all the Bonuses on most of the Amex cards already. I've never had the Delta Platinum or Reserve and I was going to go straight to the Reserve but now I'll just get the Delta Platinum First and the Reserve later. When I applied for the cards I already knew they had monthly credits and that hasn't changed so thats no big deal to me. That's with the exception of the Business Gold but I never planned on keeping that card past one year hahaha. But everyones journey is different. Do it your way Stan. Salute

@TheCreditFrog 7 месяцев назад

You're very lucky Sledge that you got all those Amex cards before the changes! But yeah, as long as you only keep the card around for 1 year and you get the SUB, anyone can get value on an Amex card, regardless of the statement credits. You're definitely right that everyone's journey is totally different, which is why it's so much fun to here from everyone and their experiences. 🫡

@weekendmixology3832 7 месяцев назад

Great vid, this allowed me to step back and realize I have a good set up and aren’t missing out much on Amex gold. You mentioned you love and will hold the Platinum for the FHR, have you explored the luxury hotels from the chase sapphire reserve? I did some analysis and feel the reserve is very powerful card in that regard. It’s an angle that is not discussed and often overlooked. Especially with the 50% bump for luxury hotels.

@TheCreditFrog 7 месяцев назад

Thanks man! I haven't looked into the LHR collection with Chase in much detail, but last time I checked, they didn't really have any hotels that wow'ed me, which is totally different with FHR. Truth be told, I really only use FHR in Las Vegas, since that's where I get the sweet spot room rate value. The CSR is such a powerful card for the right person, and I think it's getting a resurgence, especially with all the Amex nonsense that's going around. I think it's going to get a lot more love from the community very soon - and tbh, has already started with my buddy Spencer Johnson switching his CSP over!

@shawn.credit 5 месяцев назад

There is a lot of cards that can compete with the Amex Gold, yes it has 4x categories but the credits and lack of real travel value makes it hard to justify the $250 AF. With talks of the AF going up on the Amex Gold it makes sense to shop around for other cards bringing similar value.

@anandr1385 7 месяцев назад

Another great video Stan. I think this resonates with a lot of people. I love AMEX, they we treated me well, but it’s ridiculous keeping up with all the statement credits. How annoying was it to keep saying “have or have had” numerous times in the video 😂

@TheCreditFrog 7 месяцев назад

Thanks Anand! Yeah, it was quite a chore to say "have or have had" LOL, but it's a part of the terms so now we all have to keep saying it forever hah! I'm in the same boat as you. I love Amex and they've treated me well, but they're going down a path that I don't want to follow, and if they keep this up, I may have to jump ship!

@biancacalbert 7 месяцев назад

I 100% agree with you. I just cancelled my Amex Gold last week. I plan to use my Savor One. It makes more sense for me and I can still convert the cash back to points.

@TheCreditFrog 7 месяцев назад

Great move Bianca! Having that NAF C1S1 is totally the way to go! And no statement credits. Hooray 🎉🎉!

@elliottnixon-wq6sp 7 месяцев назад

Welcome to the Amex Exile Club, friend. We got jackets. Surprised you didn’t really mention that Amex cards are basically useless abroad which is weird because international flights are their strongest use case. Given where the credit card space is going, we need cards with good SUBs and easy ways of swallowing the AF. It’s a short list for sure, mainly consisting of hotel cards and the Chase Sapphire products for me.

@TheCreditFrog 7 месяцев назад

Hah! I appreciate that Elliott, but I hope to not be exiled! I still think that Amex has some great products, but they are not the issuer they once were in my eyes based on recent changes. I probably should have mentioned that Amex is useless abroad because you're definitely right about that! It's useless in certain parts of the US as well hah! I think it would be great to build a short-list for those types of cards as you mentioned! Definitely a great idea for a video. Amex cards are all still great in year 1 with the SUB, but the year 2 and beyond is where it gets highly debatable.

@bluekai85 7 месяцев назад

For the most average comsumers, they should be on team cash back. When they plan to have a vacation outside US then applying one another card with good travel insurance and good welcome bonus.

@TheCreditFrog 7 месяцев назад

I've never thought about it that way, but that makes sense! I've kind of been a points hoarder to save up for a big redemption, but I can see the value of the one-SUB earn and burn strategy. Cash back always wins out for ease of redemption and immediately value (provided 1cpp or above)

@SYS-ky7zk 7 месяцев назад

I use Capital One VX and CSP for my travel needs. After getting not so difficult travel credit, my effective Annual fee is just $45 for both cards. I don't have to worry about spending inflated cost for food and other things to justify paying almost $1000 for two Amex cards. Although I'm mostly Team Travel, I have few cards for Cashback as well. It's kind of like Investment: for most people you need good balance of Team Travel & Cashback. Good analysis on your move Stan! 👋👋💥

@EduardoHernandez-vv8ey 7 месяцев назад

Awesome. We have the same setup, and it works really well. I do have the CFF and the CS1 as well, but they are no annual fee cards that bulk up my point earnings. Glad it works for you as well.

@TheCreditFrog 7 месяцев назад

That's a super solid setup! I'm actually kind of envious that you have so much value from the C1VX/CSP pairing. Great lounge access, access to transfer partners, and primary auto rental CDW x2 to name a few benefits! I'm guessing, you're probably hedging some Citi Custom Cash 5% action as well? In any case, I'm super with you on the hybrid setups. It may be counter-intuitive, but I think those do the best because you can really leverage 5% cash back and travel rewards that really matter in your specific situation!

@TheCreditFrog 7 месяцев назад

Solid setup! Sounds like a C1 duo with some Chase action! Not sure which one is main or if you treat them equally so sorry if I got that wrong, haha!

@OfficialChadsMoneyMinutes 7 месяцев назад

I love the honesty in this entry, many people fail to realize that the difficulty with Amex extends well beyond their higher than average annual fees. The value proposition of employing the credits can be just much and in some cases more daunting.

@TheCreditFrog 7 месяцев назад

Thanks Chad! Yeah, American Express is positioning itself to appeal to more affluent customers - which is fine - but if they wanted to do that, they should raise annual fees and be done with it. The credits can be helpful, but I think it's the monthly/quarterly/semi-annual that is frustrating. If they added annual credits, I think that'd be fine and may even be seen as a positive!

@dgasmd1 7 месяцев назад

@@TheCreditFrog Yes!! Kind of contradictory that they wanna be more exclusive and selective, yet they have a "sunday paper grandma coupon book of benefits"!!!

@DugrozReports 7 месяцев назад

Wow Stan! You must have spent hours on this video! So well done! I feel a strong sense of commiseration with you. Really questioning if MR's are worth it, esp. on the Gold card.

@TheCreditFrog 7 месяцев назад

Thanks Dugroz! Yes, this video did take quite some time to research. I appreciate it bro! In watching your livestreams (usually on the replay), I think that you and I think so much alike in that we just want the most amount of value in the simplest way possible! We shouldn't have to work harder on cards we pay annual fees on! As a family man like Uncle Luke, I think you have to do the math since families spend more on food. But I think I remember you said that you go to .. Walmart? or Target? for groceries, which is definitely not Gold card friendly!

@DugrozReports 7 месяцев назад

@@TheCreditFrog Correct. Walmart is 75-85% of our grocery spend, and our single largest spending retailer. Probably $10,000 per year or close! Yikes! #FrugalBros 😃

@DugrozReports 7 месяцев назад

@@TheCreditFrog On the other hand, I do like Hilton, and I'm going to release a video today where I kind of contradict myself. It's like I'm Dr. Jekyl and Mr. Hyde - one side of me is very frugal, and the other side desires luxury, and they fight a lot!!!

@TheCreditFrog 7 месяцев назад

@@DugrozReports Hah! Looking forward to it. Always great to hear your perspective!

@shawn.credit 5 месяцев назад

@@DugrozReports I love the 3x everything else spend on the Hilton Honors card makes shopping at Walmart painless. BBP 2x is a good catch all for Walmart spend as well! 1x on the Amex Gold at Walmart is annoying, I did some rethinking and downgraded my Amex Gold to the Amex Green card. I have other Amex cards that will bring me MR points for groceries at 2x-3x so no real loss.

@AnthonyVenture 7 месяцев назад

Oh lawdy! Seems to be a great shift in the Space Time Credit Continuum! Makes total sense to me! I’ve often felt the same way with the Platinum card for sure, still unsure if I should keep it as a call option for eventual travel or not etc. I’ll stick with the Gold for now since it’s convenient still for me, and I’m able to get more than the $250 annual fee from those credits via Uber Eats Target Pickup with 30-40% off coupons. That mobile wallet setup is wild, powerful! Yes those terms changes have really put a damper on a lot of churners for sure, even just regular folk honestly. Great and honest video Stan! I’m with you on all fronts!

@TheCreditFrog 7 месяцев назад

Haha, for sure Tony! It looks like there's definitely a shift ongoing. Amex is definitely still a great company, but they're recent changes are pushing the boundaries of what I'm willing to tolerate personally. It would be a completely different story if I was going to the Maldives every other Tuesday, but these cards are charging me a lot of money for me to keep paying monthly statement credits! Amex used to be able to get away with it because there was limited competition, but now there are much better alternatives to consider!

@jenniferw8963 7 месяцев назад

@@TheCreditFrog Is the Chase Sapphire Reserve not a better premium travel card compared to Platinum? I really like that I can get a Hyatt room for $50, which normally costs like $129-$189. Like the included primary insurance for car rentals. Credits seem reasonable as well. 1.5x at travle portal for flights. Lounge access, etc.. I like that UR is easily redeemable for 1cpp.Also the Freedom Flex and Ink Cash make it easy to rack up points at 5x+. For groceries I just use my Citi Custom Cash w/ no Citi Premier.. cash it all out at 1CPP.. use the Ultimate Rewards for travel.

@TheCreditFrog 7 месяцев назад

@@jenniferw8963 Hi Jennifer! Yes, I think it depends on the preson, but if you stay at Hyatt properties and want a simple premium travel credit card like the ones you mentioned, the CSR is a great pick! For me, the Platinum is still a better card because I frequent airports with Centurion lounges and the CSR wouldn't help me with that. But if I lived in Boston and I traveled as much as I did, I would 100% have the CSR card because of the exclusive Chase lounge there!

@chrisv4920 7 месяцев назад

I stand with you Stan! Totally agree with you. I’ve been adjusting my set up too, kinda hybrid approach, I’ve been getting lots of value on my cash back credit cards, also because I haven’t been traveling much this year, I’ve been mixing my cards and arranging them into categories, so that each card whether is a cash back or points earner they can complement to each other

@TheCreditFrog 7 месяцев назад

Great to hear Chris! Happy to hear your own Team Hybrid with me as well. Pretty cool that you're organizing your cards in that way. That way, you can pull out each complement set for the appropriate situation!

@stretch_mtxs 7 месяцев назад

I actually downgraded the Gold for the Green 6 months ago as a way to change my set up. My plan was (and might still be) to wait for a solid upgrade offer from the Green to Gold. The Green has been useful in my non-airline travel spend (I have a Platinum) and I realized that the way I organically use the Amex Offers cancels out the annual fee so that's really good. But my main Food and Grocery spending has moved to the Citi Custom Cash and the Citi Premier. Amex and Citi share the transfer partners I use regularly. Also I spend more on groceries than I do when I go out dining so in a way 5X Groceries* 3X Dining actually earns me more than a flat 4X on both. Much as I love the Gold, it's not the only option to gain more points through organic spend. And I don't have to worry about the credits so there's that :) *I am a one person household so my grocery spend ends up being a little less than $500 a month. No pressure in maxing out the 5%, but it is my highest expense (after rent).

@TheCreditFrog 7 месяцев назад

Hey that's an awesome setup, Steve! I never really thought about the 5%/3% value vs. 4%/4%. I guess in that situation, doing the math for your situation really pays off! If you can do a 5%/3% with no statement credits and a lower annual fee, I would definitely call that a W! Amex Offers are also a great way to get value off the annual fee. It's nice that you're able to get that value organically! I rarely ever do any retail shopping so it's rare for me to use an Amex Offer, although I've gotten a few good ones here and there - nothing to ride home about though! Amex Platty/Green is another popular combo, and I'm happy to hear that it works for you as well!

@armandoangeljr4464 7 месяцев назад

While I absolutely love my AMEX Gold, if that annual fee increases to $300 or $325 any time soon, it’s gone for my line up. I’m on pace of earning almost 200,000 MR points in my first year (with the 90K sub) with the Gold, but now that I have the AMEX BBP, I have a card that earns MR points with no annual fee. As much as I love AMEX, they are starting to get crazy expensive and restrictive. You made some good points here, Stan! I can see why so many have become disappointed with AMEX!

@TheCreditFrog 7 месяцев назад

Oh yeah, if the AF goes up on the Gold card, I think there's going to be a huge backlash within the community! As you mentioned, SUBs are always going to be worth it for the card in year 1 - even with monthly statement credits. It's the Year 2 and beyond where it become more of a question. And for sure, there are a lot more people than I realized who are disappointed with Amex as well!

@docsays 7 месяцев назад

I don’t blame you. It is alot of changes simultaneously. I personally don’t mind the credits on the personal Gold, but having to manage multiple mthly credits can be taxing. The credits on my Green & BCP are pretty easy to use, so those plus the Marriott Business are definitely keeper cards for me.

@TheCreditFrog 7 месяцев назад

For sure Doc! Yeah, I think the Gold on its own isn't bad. But once you add more and more cards with monthly credits, stress compounds exponentially, not linearly - at least in my experience. Green/BCP is a great combo, and of course, the Bonvoy Business is one of my faves!

@docsays 7 месяцев назад

@@Shawn.credit - I definitely agree. I really like the card.

@JPBuffet 7 месяцев назад

Fair video Stan, Amex could have better multipliers, especially on their everyday cards. I love the points, but true, if you don't use them makes the card less appealing.

@TheCreditFrog 7 месяцев назад

Thanks JP! Yeah, that's the way I see it. We all know that Amex wants us to spend on their cards more. But if that was the case, having a better balance between higher multipliers and annual fees would help. There's so many other options now in 2023/2024, Amex needs to start being more creative!

@LK_EBM 7 месяцев назад

Thanks for being open with us. Amex points sound great on paper. But I doubt most people are getting the high value that they think they will get

@TheCreditFrog 7 месяцев назад

Of course, LK! Just calling it as I see it! For sure - I still think Amex MR is the best rewards system, but trying to redeem for maximum value is always a challenge, and factoring in these statement credits vs. annual fees adds a layer of unnecessary complexity!

@curmudgeonextraordinaire1884 7 месяцев назад

There are still loads of influencers that talk up MR points as the greatest thing on earth.

@TheCreditFrog 7 месяцев назад

@@curmudgeonextraordinaire1884 Yes, MR points can be great for the right person, but not always!

@B0HICA 7 месяцев назад

One of the things i like best about Amex over the rest of my cards is that if i run up the balance, I can put $ on it & it makes credit available immediately even though it's not a secured card. All my other cards take a few business days

@TheCreditFrog 7 месяцев назад

Oh that's interesting! You're definitely right, but I never really gave it much thought. That could definitely come in handy in certain situations!

@John_Cannon 7 месяцев назад

Great points, I'm with you on the incremental statement credits, it's like a part time job trying to keep up with them.

@TheCreditFrog 7 месяцев назад

Absolutely John! It's certainly a part-time job. Usually it's enjoyable, but the monthlies are like death by a thousand papercuts.

@nubianpwr 7 месяцев назад

That was a master class Stan!!👏🏾👍🏾 I'm in agreement 90+%... but there is that 10% thing with Amex's international luxury travel proposition. Imo, their program is the best for this - bar none. It works if your "natural" spend and aspirations align, but not if they don't😎 For this singular reason I will keep my CS PLatinum, Gold, and BBP. On the other hand, the Bus Plat, Bus Golds (2), and Hilton Bus cards on the chopping block when AF(s) are due. The Bus Gold's proposition as a no FTF card is vacuous, seeing that the new "Other Travel" 4x category is for USA domestic only - go figure🙃 p.s. the zoom in-out videography thing was extra man👍🏾

@TheCreditFrog 7 месяцев назад

Thank you Nkosi!! Oh yes, I'm not saying their program is bad by any means. I agree that they are probably the best one out there for sure, but only for a certain type of person. I think we're definitely on the same page (except for the Gold car haha) when it comes to our stable of Amex cards. A lot of my business cards are there for most larger spend or SUBs before they get chopped because otherwise, they're just eating your money year-over-year. I appreciate the kind words about the editing. Trying to keep it fresh 😎

@rodelmedia6184 7 месяцев назад

thank you for making sense out of Amex.

@TheCreditFrog 7 месяцев назад

You're welcome! I try.

@LukesPointsandMiles 7 месяцев назад

When Stan the Credit Frog speaks, I listen. Stan you make videos with subects that seem to come straight out of my head. I'm still teetering on the Gold Card so bad. Especially when running the numbers for Points vs Cash!!!!

@TheCreditFrog 7 месяцев назад

Thank you, Uncle Luke! I'm the same with you as well. I will say that I think MR points were specifically designed for someone like yourself since you travel internationally so often! Amex cards are questionable for everyday spending, but if you want to get those extra MRs, it's kind of something you gotta do. Or you can just bang out SUBs. Maybe it's time to look into the hybrid setup again? 😃

@LukesPointsandMiles 7 месяцев назад

@@TheCreditFrog my problem is I hate the gold card credits. I mean to the point it makes me angry but……. I spend $12k+ a year at the grocery store and around $6k a year on dining. So that earns me at least 72k Mr points a year with normal organic spend.

@TheCreditFrog 7 месяцев назад

@@LukesPointsandMiles Well when you put it that way, then yeah I think you're making the right choice with the Gold card! As a family man, those food costs are much higher for sure. I think I'd put the Gold card in the "necessary evil" category for you, much like how I did the same regarding the dining credits on the Brilliant card.

@LukesPointsandMiles 7 месяцев назад

@@TheCreditFrog sounds right. I think I need a quarterly consult with you to make sure I’m on the straight and narrow. You can be my therapist.

@krs1905 7 месяцев назад

⁠@@LukesPointsandMileswhy not go for the SavorOne with no-AF? It’s the card that I want the most but I’m gardening and C1 won’t do a product change for me on quicksilver cards. The CapitalOne Bi-fecta keeps looking better and better. VX for wholesale clubs and catch-all. BBP doesn’t work at wholesale clubs.

@KonstantinosPoints 7 месяцев назад

Excellent points and believe me, I do travel internationally and still many times doesn’t make sense to use Amex. I will give it another shot though because Luke keeps telling me I’m doing it wrong but I have the feeling that for a coach flight it’s not doing much!

@TheCreditFrog 7 месяцев назад

Thanks Kostas! Yes, I know for sure you travel a lot internationally! Yeah, I think Amex is an issuer you now have to really think about before you commit past year 1. You're in an interesting spot because Amex has been "reset" for you so you can hopefully start to get cards with Amex that are meaningful and provide you the best value for your travel habits!

@KonstantinosPoints 7 месяцев назад

@@TheCreditFrog absolutely! I’m currently reviewing my options!

@MattClausen 7 месяцев назад

A lot of this is why I won’t add the charge cards any time soon. I’m just glad that with the Hilton Cards I started at the bottom so I’m in good standing to get the Surpass and Aspire when they tighten THOSE rules. With Wells entering the Transfer Points game, and hopefully another Bank as well, we could see AmEx take notice…hopefully

@TheCreditFrog 7 месяцев назад

I'm really sad that WF hasn't revealed them yet. Like you, I'm on the edge of my seat. With them entering the field, this will get us another viable no annual fee card for the travel game. I'm glad that you started low with Hiltons and are working your way up! I plan to do the same once I start my Hilton ladder. The Amex charge cards are great for SUBs, but as long as you keep them only for 1 year and get (and use) the bonus, you'll come out ahead no matter what!

@joshua.butler 7 месяцев назад

The changes to the Amex welcome offers is unfortunate. That business card looks real nice in rose gold btw. Excellent update to your plans with Amex. Only keeping cards if they provide positive value and make your life easier is the way to go!

@AnthonyVenture 7 месяцев назад

I heard they discontinued the Rose Gold Business Version, not enough sign ups.

@TheCreditFrog 7 месяцев назад

🤣🤣🤣

@TheCreditFrog 7 месяцев назад

Lol! You guys and your Rose Golds. I did actually just recently change my Business Gold to Rose Gold so that when I close it, I'm really closing the Rose Gold instead of the Gold, haha! Yeah, it's so interesting how life changes, and how one card can be great for one person and not for another. I would love to keep loving Amex cards, but the recent changes are not helping.

@joshua.butler 7 месяцев назад

@@AnthonyVenture I'm disappointed in you Anthony.

@jenniferw8963 7 месяцев назад

@@AnthonyVenture darn I wanted to get one in each color, so i can have both in my Dexter slide box after I close it out next year!

@TylerSmith21 7 месяцев назад

I agree. Just cancelled my amex gold. Now running a Schwab platinum, U.S. Bank AR, BoA Premium Rewards/Custom Cash.

@TheCreditFrog 7 месяцев назад

Very cool Tyler! We have such similar setups! But I have the MS Plat, PR Elite, and CCR instead. But the structure and strategy is the same. I will be following suit with you and cancelling Amex Gold when that next AF hits!

@jeff.0-3 7 месяцев назад

I respect your decision to cancel the Gold cards. So many other You-Tubers use cancelling their gold card in their title only for click bait. When you watch the video, they decide to keep the card.

@TheCreditFrog 7 месяцев назад

Thanks! Yeah, it's really important to evaluate your spending habits to make sure the card makes sense. I really wanted to like the Gold card and keep it long-term, but in the end, it just wasn't the card for me.

@thidang9682 7 месяцев назад

Hey Stan, are you planning to go Capital One route with the Venture X and Savor One Rewards duo since the Amex Gold no longer benefits you with the monthly statement credits? I know you mentioned team cash back, because the USBAR is a great card for 3x mobile wallet and it complement with any setups. Also, I heard from Chad in Spencer content creator you're in Orange County, because I'm in that area too. I didn't know a RU-vidr would be in my area.

@TheCreditFrog 7 месяцев назад

Hey Thi! So my plan is to use the USBAR as my replacement for the Gold card. It's been working incredibly well so far! Since I still have the Amex Platinum, I have no need for the C1VX at the moment, but of course, that may change. And yes! I'm from the southern California area. I'm sure there are plenty of RU-vidrs here in CA, because, you know, it's California!

@thidang9682 7 месяцев назад

@@TheCreditFrog My fault I meant to say credit card RU-vidr in OC. Yes, I do know there are a lot of big RU-vidrs in California.

@zsm5833 7 месяцев назад

im just a bit curious how do you have the BCE/OBC for 18 years? was this card your first credit card? but on the Amex multiplier side, the main problem I have is the Gold card, the 4x on restaurant does not work as effectively as the Visa/Mastercard cards, some bars and/or taverns don’t code as dining, you only get 1x on that. and 4x on groceries is also limited, it doesn’t work on Target or Walmart, but works on Walmart Neighborhood Market. I usually go those two stores to buy food so the Gold card is no go.

@TheCreditFrog 7 месяцев назад

Yeah, I had the OBC as my first card in 2005, I then PC'ed it to the BCP and had that card for about 10 years before it finally became the BCE. I loved the simplicity of the BCP during my 20s. Yes, one big issue with the Gold restaurants is that it's not as inclusive as the restaurant category that you would find on BofA or Chase cards! Yet another downside of the Gold card - a limited grocery category (also US only).

@steve_rogers_usmc1990 7 месяцев назад

Thanks!

@TheCreditFrog 7 месяцев назад

Thank you Steve for the awesome SuperChat!! 😀😀

@KevinYang 7 месяцев назад

Now I don't feel as bad being gated out of the Amex Gold with those welcome bonus rules 😂 The VX has been awesome.. and can't wait to see what Citi has in store. Also hope you enjoyed Vancouver haha!

@TheCreditFrog 7 месяцев назад

Haha, yes I certainly did Kevin! Vancouver is a great city! Don't think you're missing much with the Gold card (except for the SUB, of course). It's nice that there are so many issuers with great products that we can really just shop around and pick the one that works best for us! Glad you like the C1VX - a very valuable card for sure 👍!

@newagain9964 6 месяцев назад

AMEX is shooting itself in foot. A lot of ur are new to them and so get locked out of their SUBs. Which means leads money for Amex and more for competition.

@kevinManhattan 7 месяцев назад

Agree. They are so annoying. But I will have to keep these cards for the status and benefits. plus, Still the best customer service out there, and that means something to me.

@TheCreditFrog 7 месяцев назад

For sure! I think Amex is a great company! I just wish they would innovate better, instead of raising annual fees. But yes, I think we all agree that keeping the cards for the benefits are a good move. It's all up to you to decide how much statement credit nonsense you're willing to take!

@paulstein916 7 месяцев назад

You seem to have struck a chord with this content, with over 200+ comments. I agree with what you said and like being on team hybrid. Amex seems to be bi-polar with its rule changes. For several years, they were enticing people to sign up for their cards with big SUB’s, then slam on the brakes with ever higher AF’s, more monthly/quarterly credits and the card family restrictions. I got the classic Platinum when I was offered a huge SUB, with plans to get the Gold and switch to the CS Platinum. I wasn’t planning to get the Platinum at that time, but the large SUB was enticing. Then got the rug pulled out from under me with the no notice card family rule. And to use the offers and monthly/ quarterly credits, you always have to read the fine print. I like simple, so I’m also stepping back and reviewing.

@TheCreditFrog 7 месяцев назад

I agree Paul! The reaction from the community overwhelmingly showed me that I'm not the only one that feels this way. That super sucks that you got rug-pulled with the Gold card! I also was planning on getting the CS Platinum when the time was right, but now will not be able to get the SUB on that card with the new rules. Amex Offers are still really good, but you're right - you have to read the fine print for sure! Simplicity is always the answer because complexity will find you so no need to search for it!! Definitely always a great idea to review your credit card setup frequently 👍!

@oshitomaha 6 месяцев назад

I had the exact same plan and the situation happened to me. I had 165k MR garbage points and I’m not even planning to fly internationally. What I did was get 1 to 1 points for restaurant gift cards. Alamo everything else is .60-.70 per point. MR points are really worthless if you don’t travel outside the US or fly much, and I make around 160k per year.

@WhiteoutSnowy 7 месяцев назад

Good stuff , but question for you let’s say someone who got MR points loaded up on platinum / gold card can you transfer those MR to ED / EDP card and let it sit there while getting rid of $295 / $695 AF cards ?

@TheCreditFrog 7 месяцев назад

Thanks! Yes, that's the move right there! You definitely want to get either an Everyday or Blue Business Plus card to "hold" your Amex MR points if you decide to cancel the Platinum and Gold card. When you add your Amex cards to your account, they all share the same pool so once you have that NAF card, you can cancel your AF cards and be confident that your MR points are safe!

@kaina732 7 месяцев назад

I like traveling on Hawaiian Airlines and I can use AmEx MR points for that. I am trying to qualify for the Companion Pass on Southwest so I will switch to using more Chase UR points instead.

@TheCreditFrog 7 месяцев назад

Very nice Kaina! Yes, as long as you have a great use of Amex MR points, that's a great use for them! Hawaiin airlines is not the "best redemption" from a CPP perspective, but if you fly with them, it's better than no redemption at all! Good luck with the Companion Pass! If you fly Southwest, Chase URs can be helpful for that too. Sadly, SW points are also going to be devalued soon, ugh.

@kaina732 7 месяцев назад

@@TheCreditFrog I hear you on the CPP for Hawaiian and SW, but I will get more points from AmEx than a Barclays Hawaiian Miles MC.

@chrisbrown8748 6 месяцев назад

I travel internationally 4 or more times per year and even I am thinking about moving on from the majority of my AMEX quadfecta and either leaning into my Chase setup or trying to get into Capital One cards.

@TheCreditFrog 6 месяцев назад

It seems to be the trend, and you’re definitely not the only one Chris! Chase and Capital One have been making improvements to their products and if Amex doesn’t keep up, I think a lot of people will start moving towards those other issuers!

@EPICWILDETAILING 6 месяцев назад

Here in Canada i have the Amex Cobalt. I love it. I don’t think i’ll be upgrading or applying for a Gold this year or next year since I only travel once a year. Twice the max.

@TheCreditFrog 6 месяцев назад

Nice! Not too familiar with the Cobalt card, but it looks like a great earner for dining in Canada!

@Ljberkow 7 месяцев назад

You could always get an AMEX Hilton card. I dumped the Platinum and got the Hilton Aspire and Surpass. Great for either USA or international, flights, restaurants, groceries, gas, etc. In any case, monthly credits and other coupon clipping takes time and defeats the purpose. Agree, not worth the aggravation.

@TheCreditFrog 7 месяцев назад

Thanks for the advice Len! I actually have been thinking about that myself - hotel cards are definitely a great choice! I just have to figure out how to fit them in since I only get 5 Amex credit cards, and I'm full of Marriotts, haha! Coupon clipping is a lifestyle for sure, and for some it's a great hobby to get value too, but for me (and maybe you as well), we have better things to do with our time.

@newagain9964 6 месяцев назад

Hilton pts are worth the least in hotel cards. 😂

@joseegarzaa 7 месяцев назад

Brand new to your content and i’m looking forward to what else you have in store. Also, as an 18 year old starting the game, I have also been interested in the CP1 duo, but also the AMEX Gold for my spending on groceries, restaurants, and use of statement credits (which i would probably use since i purchase from Uber/Shake Shack already in college). Now since i’m just starting, would you say a hybrid setup with Capital One and Amex would benefit me? I have use for the Gold statement credits and want to use the points to travel internationally in the future. I also don’t see myself getting the VX or AMEX Gold anytime soon anyway, but next up are the Blue Cash Everyday and Savor One.

@TheCreditFrog 7 месяцев назад

Hey Jose! Welcome to the channel, and thanks for stopping by! You're really smart in starting as early as you are! Just make sure to focus on developing those good money habits, like paying off your statements in full and on time! I think the Amex BCE and the C1S1 cards are both excellent cards to start with, and either one would be a great fit for someone starting out! The benefit of these cards currently is that both Amex and C1 have preapproval tools so you can see if you'd potentially be approved for a card before you even apply! I think a hyrid setup with both of these cards would be great! I would stay away from annual fee cards at this point while you build up your credit history to at least 1 year, unless you see a real enticing use-case to get them, but as 18, I don't think that's something I would recommend at this point 👍!

@joseegarzaa 7 месяцев назад

@@TheCreditFrog I really appreciate the feedback! I definitely plan on sticking with my plan for the CashBack cards i mentioned, and as for the AF cards, I don’t plan on applying until i’m at least 20 and see where I’m headed in terms of travel and financial needs. I really appreciate the respond and the video, I just wanted to see what you thought as someone who’s been in the game. Definitely not getting any AF cards soon since I am also just starting to become financially independent 😅😅. Time will tell where I go with my credit card plans though!

@joseegarzaa 7 месяцев назад

@@TheCreditFrogHey Stan! So I just applied for a AMEX BCE without a FICO credit score and got accepted. I got excited and decided to also cancel my Discover card (Only card and 3 months old). So my new AMEX will have a higher limit which shouldn’t hurt my credit utilization and I also found out through a new creditkarma account that I had a 704 credit score from Equifax and Transunion. Ok that’s the backstory, to wrap it up, how will this affect my new Equifax credit score which I didn’t know would be that high? Should i be worried even though I only had my first credit card for 3 months, then canceled it after getting the card I actually wanted? THANK YOU!! (if you happen to respond of course)

@TheCreditFrog 7 месяцев назад

Hi Jose! Congrats on the new Amex BCE card! That's amazing!! So the only thing I would say is that, if you don't have to cancel the Discover card, I wouldn't recommend doing so. It's a no annual fee card, and I'm guessing it's the one with the 5% rotating categories so it could bring you some value in the future. Of course, if you want to simplify, you can go ahead and do so, but this early on, I think any credit history is good credit history as long as you practice those good financial habits that we talked about! The new card will lower your credit score for the first few months. That's because you got a hard pull and now you have a new account that lowers your average length of credit history. I would just keep those 2 cards for the remainder of the year. Pay them off in full and on time, and next year, you'll be ready to apply for another card - maybe C1S1 like you said, or maybe even Chase, since Chase likes to see you have at least 1 year of credit history as a new customer!

@joseegarzaa 7 месяцев назад

@@TheCreditFrog Thank You Stan!

@druiz012 7 месяцев назад

Damn Stan what a change! One question. You said that you want to do international travel but haven't. One thing you didn't mention is why haven't you?

@TheCreditFrog 7 месяцев назад

I know, David! That's a good question. I think it's a matter of me taking the initiative to explore out of the country. Life gets busy, and I guess I never prioritize it since there's other things I need to prioritize first. I definitely take my fair share of vacations, but those are typically short-hauls, conferences, or fun times in Las Vegas. Planning on making a BIG international trip redemption in 2024 so that's probably a part of it too!

@druiz012 7 месяцев назад

@@TheCreditFrog I hear you! Hope your 2024 trip turns out fantastic!

@PandaFPV 28 дней назад

Is the Amex Blue Cash Everyday a good card for someone who doesn’t travel much and doesn’t spend too much money? My goal is just to build my credit so I can buy a new car at a good price. I have the quicksilver secured that graduated a few months ago. Not sure if I should try applying for savor one and then blue cash every day or stick to the C1 lineup

@TheCreditFrog 28 дней назад

If you could get the Savor One, that would be a phenomenal card! The BCE is also another good card to consider. I would look at your spending habits and pick the one that will give you the best return based on the elevated multipliers on each card!

@krs1905 7 месяцев назад

Preach, Stan. Hallelujah. I’m so annoyed at Amex’s antics and monthly credits. My personal Gold Card is done when the AF hits.

@TheCreditFrog 7 месяцев назад

Mr. Keith in the HOUSE! I feel you, bro. The Amex Gold is definitely getting the axe. C1VX Business next?? 🤣

@krs1905 7 месяцев назад

@@TheCreditFrog one day you’ll agree with me about 5/24 being bad.

@TheCreditFrog 7 месяцев назад

@@krs1905 🤣🤣🤣

@krs1905 7 месяцев назад

@@TheCreditFrog I ran the numbers on the VXBiz and the SUB isn’t that interesting to me. 30k of spends gets 150k SUB which is a 5x return on spend. The higher SUB is even a worse return. I have a Spark Cash Plus which I can get 2x as catch all for C1 miles. Chase just gave me another Ink Preferred and I get 3x UR on all my category spend which I max out and get a 100k SUB with it for $95.

@kylewelch8697 7 месяцев назад

Until capital one gets real transfer partners they aren’t the real deal

@TheCreditFrog 7 месяцев назад

That's fair. I just looked at them again, and although there are some sweet spots, they don't compare to Amex or Chase!

@wanderingdoc5075 7 месяцев назад

My NYC to Hawaii trips for 7500 Turkish miles + $10 say otherwise. Cap 1 is also the best catch all card and no other travel card gives you 2X transferrable currency

@TheCreditFrog 7 месяцев назад

@@wanderingdoc5075Great redemption WadneringDoc!

@majiklantrn 7 месяцев назад

Think they'll increase the fee on the normal AMEX Gold? I'm on the fence keeping my Bonvoy Brillian and Gold card.

@TheCreditFrog 7 месяцев назад

It's not a matter of IF, it's a matter of WHEN. I predict they'll do this in 2024, but your guess is as good as mine.

@chrishagins3309 7 месяцев назад

Have you considered getting the Charles Schwab platinum and redeeming MR points at 1.1 cents?

@TheCreditFrog 7 месяцев назад

I've definitely considered that! I had plans to get it until Amex made that new Platinum SUB rule that locked me out of the CS Platinum SUB. In my view, if I'm going to earn MR points, I'm going to use them for aspirational travel. The Cashout option is the last resort. I do have the MS Platinum so I get a cashout rate of 1cpp, which is not as good as CS, but much better than the rate on the classic Platinum.

@CesarJoel 7 месяцев назад

I completely understand and agree with your point of view Stan! I don’t do many international trips, but I value costumer service, expedited airport access, lounge access and Hilton status a lot. Similar to you, I plan to keep my Platinum and my favorite hotel card, the Aspire. Great video brother! Keep up the great work!🫵

@TheCreditFrog 7 месяцев назад

Thank you César! Yes, as a Hilton loyalist, the Aspire card fits your use-cases for sure! And as a frequent traveler, Platinum card also is a great fit! I think we just all have to be careful and really scrutinize whether our Amex cards (and their statement credits) are truly getting us value anymore, because it's become more complicated in the past 1-2 years!

@jenniferw8963 7 месяцев назад

Hey Stan, I've been trying to find videos which explain all the benefits of Amex Biz Gold card other than the credits. Like purchase protection, extended warranty, lounge access etc.. Maybe an idea for a video? Just wondering how capable this card is for travel. It's my first amex card.

@TheCreditFrog 7 месяцев назад

Hi Jennifer! Yeah, so with the new refresh of the card, there definitely needs to be updated information on the card. Understanding the nuances of all the insurances and protections is always important on Amex cards - generally they have the best protections out there. I'll put it on my list!

@jenniferw8963 7 месяцев назад

@@TheCreditFrog ♥

@shawn.credit 6 месяцев назад

I closed my Amex Green personal card as the rewards categories overlap with my other cards. If I used transit and hotels often it would be valuable, I have an Amex Hilton Honors and Hilton would be my hotel choice anyways. I hold the Amex Business Green card, it was an easy approval and excellent for building business credit. I’m happy with my current 8 card Amex lineup and feel the rest of the year will serve me well with them. The personal Amex Gold may get a revamp and likely AF increase but it’s one I feel will be in my wallet regardless as value will still be earned with this one!

@TheCreditFrog 6 месяцев назад

Yeah, sounds like the Gold card would still be worth it for you! As long as you think you'll spend enough on the card to make it worth it, the Gold card is a great earner. I think the Green card can be a great card to earn Amex MR points as well, but yeah, with the Hilton card and no transit expenses, all your left with is flights, and there are definitely other cards to get you a category that's higher than 3X! 8 Amex cards is a pretty nice lineup for sure!

@invisiblebiscuits 6 месяцев назад

Amex Gold and Blue Business Plus are the only cards I care about and can justify, but if they increase the fees and credits on the Gold card this year, I’ll have to reevaluate. I too stock up the points for probably too long and usually only travel economy so maybe a cash back setup is more prudent.

@TheCreditFrog 6 месяцев назад

For sure Brenden! Yeah, I think if you're stacking up MR points, then it may be worthwhile to consider alternatives - especially if you don't book a lot of international first/business travel! Hopefully they don't increase the Gold card credits next year, but we'll see! Love the BBP! Will probably be getting one soon as well!

@SectionChief 7 месяцев назад

If I am staying in the Amex ecosystem with a Platinum Card then I might as well keep the Gold Card, if I already have one, to stack certain credits that the Plat & Gold share. For example, the Uber credits stack; the Gold card has offers to businesses that the Plat card gives premium status for; and certain purchases/reservations have to be booked with the Plat card to get benefits but paid for with any Amex card, in full or partially, which can lead to much higher multipliers. But back to the theme, Yes, sometimes this takes more work than one wants for a premium experience.

@TheCreditFrog 7 месяцев назад

I think that's a great way to think about it, Sean! I had the same thoughts myself since my Platinum and Gold stack Uber credits so it's not as bad as two separate monthly credits. It's also nice to book an FHR Waldorf Stay with the Platinum and then use the Hilton Business as the card for incidentals when you check-in. Definitely great strategies you got there! Regarding effort putting in to manage these premium cards, I think it's going to depend on the individual to determine how much time and effort they want to spend on ultra-maximizing. While there's no right answer, for myself, I like getting value just like the next guy, but it's just easier to jump to an issuer that doesn't pull monthly statement credits than trying to just deal with it, and trying to make it work - at least, that's the way I look at it!

@mendyazulay8178 3 месяца назад

Totally get the idea. But if you wanna stay at high luxury hotels like St Regis and Waldorf Astoria, you have to get these Amex cards. If you wanna fly buissnes internationally you also have to get this cards. They are charging a premium to have them, but if you know how to play the game, you can win big time❤

@TheCreditFrog 3 месяца назад

For sure! My stance on Amex now is that I don't really put any everyday spend on their cards, and I really only use them for the benefits - especially hotel benefits. I completely agree that as long as you know how to play the game, you can really come out ahead, and the sky is the limit with the right redemption!

@UFCReno 7 месяцев назад

Thinking about going to simple Setup canceling my gold and keeping Amex Plat (5x flights, lounge access) getting USBAR as mobile wallet for many purchases and easy travel credit use getting citi custom cash for 5x of either groceries or gas then keeping CSP, CF for chase relationship, 5x category and if mobile Wallet not accepted at dining

@TheCreditFrog 7 месяцев назад

That sounds like a great setup - very similar to my own, actually! I think the only thing you're missing is going to be a catch-all card, and there are plenty of great options for those. If you're looking at the Chase ecosystem, the CFU comes to mind, but not sure if you prefer that over a standard 2%/2X card 👍

@UFCReno 7 месяцев назад

@@TheCreditFrog I’m trying to find good 2x I see the Ventura x but I don’t want another credit to worry about that makes me use a portal lol so if you have any other suggestions

@UFCReno 7 месяцев назад

@@TheCreditFrog or maybe even chase ink unlimited for 1.5x catch all

@TheCreditFrog 7 месяцев назад

@@UFCRenoThose are all great options! I like the BBP, but if you have Platinum or Platinum Honors with BofA, there are lots of BofA cards that work great as catch all options including UR, TR, and PR. The Fidelity Rewards VISA is also a nice option.

@wanderingdoc5075 7 месяцев назад

Great video Stan! I've came to the exact same conclusions as you about American Express over the last year. American Express is good for only one thing and that's membership reward points transferred for luxury redemptions. As credit cards with their piss poor acceptance overseas, coupon books, and benefits dwindling by the day American Express has seen its best days behind them

@TheCreditFrog 7 месяцев назад

Thanks WanderingDoc! Yeah, you definitely have to transfer those MR points out to transfer partners to get the best value. I hope that Amex starts to become a more desirable issuer, but right now, they're not doing a very good job with all the recent changes. I'm more inclined to churn and less inclined to spend on their cards, which may be the opposite what the changes were trying to accomplish. I realize I'm in the (very) small minority so my stance probably doesn't mean much, but I think there's a lot of people out there who feel the same way.

@thebrandonhiebert 2 месяца назад

My first card was the blue cash everyday as well!

@TheCreditFrog 2 месяца назад

Nice! I still have it for now!

@thebrandonhiebert 2 месяца назад

@@TheCreditFrog It’s a great card! Your video was extremely relatable. I keep it since it’s my longest line of credit. Just recently canceled my Amex Gold and now I’m realizing I’m in pop-up jail. Any recommendations for a next card? Currently have the Blue Cash Everyday, The Costco Citi, and the Chase Freedom Unlimited. I would want something with a SUB for travel so I’m leaning toward the Marriott lineup since I travel to hotels in-state for work, or possibly the Sapphire lineup. Thoughts?

@TheCreditFrog 2 месяца назад

I would go with whatever elevated bonuses that's around right now! It would be super nice to get a Sapphire card so you could at the very least get access to Chase's transfer partners. May also be a nice time to explore Capital One cards like the Savor One or Venture X if you want some great cards for travel!

@ItsMeCJ 7 месяцев назад

I want to be clear…I’m still FIRST😂. Wait, you “thought” you were on team travel?! Stan, I don’t know who you are anymore 😢. I’ve actually been thinking of getting the Savor One card and cancelling the Gold card since I have the C1VX😬😬…don’t tell anyone though. The monthly credits are ANNOYING! Amex needs to improve that system ADAP! Btw, very nice to see you use the rose gold business card in your video. Team Rose Gold is growing slowly but surely 😃😃. And not only did Amex update the language on the Platinum card bonus without warning, they introduced the highest welcome offer while they were doing it AND threw a bunch of ppl in popup jail. That was all around a not so good look. Don’t you dare cancel rose gold! Leaving rose gold is against the bylaws that you agreed to during your initiation!

@TheCreditFrog 7 месяцев назад

Haha, CJ. You're a little late with this one I must say! The SavorOne is a great card to replace the Amex Gold. But OH NO, there is no Rose Gold version of the SavorOne, what ever should we do? Yeah, the Platinum updates were sudden and not rolled out very professionally. And yes, I added the business Rose Gold so I can cancel it later 🤣. Sorry, not sorry?

@Karatana 7 месяцев назад

I'm in a similar position with my credit cards myself. Although I don't have any Amex cards, I built my current setup around travel rewards, however looking at my financial commitments for the next several years, specifically as I get my own home next summer and build an investment portfolio, focusing on cash back honestly makes more sense for me.

@TheCreditFrog 7 месяцев назад

That's definitely wise to go that route - especially since you know what's going to be happening in your life in the next several years. For sure, it's important to prioritize those life expenses like a mortgage and your investment portfolio! Try to find a sweet spot with credit card rewards with cards that are NAF, or at least lower annual fees to keep on saving!

@ljacobs357 7 месяцев назад

The problem with AE is that they are closely tied with Delta, who have poor redemption values. I find my Chase card better because they gave better redemption partners.

@TheCreditFrog 7 месяцев назад

Yeah, they definitely could have better domestic transfer partners since Delta is such weak-sauce. Chase is definitely a good choice, and I must say - Bilt also has some very good transfer partners. Hopefully, we see some good news from WF in the coming weeks!

@frankcutronijr 7 месяцев назад

I am looking at the Platinum Charles Schwab.

@TheCreditFrog 7 месяцев назад

It's a great card! But I would choose the classic Platinum first if you can get a better SUB out of it. Once you get the Schwab Platinum SUB, you can't get the classic Platinum SUB, and the classic Platinum tends to have the higher SUB.

@mostlyfreetravel 7 месяцев назад

Crazy how they are being more restrictive with personal cards but still handing out so many NLL language offers to many Biz accounts.

@TheCreditFrog 7 месяцев назад

I agree! I think it's 100% expected though. Businesses will always spend more money on their cards compared to personal, so they'll happily hand out cards to that subset of their customer base.

@ismaileee 7 месяцев назад

Just cancelled the AMEX Gold, I prefer the cashback option 🎉

@TheCreditFrog 7 месяцев назад

Congrats on freeing yourself from a high AF card with two monthly statement credits! Opinions are great, but it's best to vote with your feet.

@callmeNeno 7 месяцев назад

I got the Gold last month will be getting 90k bonus, but after I will cancel it and transfer MR pts to Amex business plus card. I will use instead my Verizon Visa signature card gives me 4% on groceries & gas and 3% on takeout dining no annual fee or foreign transaction fee. I also will be downgrading my Amex blue cash preferred to the no annual fee since it’s my second oldest card and put small recurring transactions to keep it active.

@TheCreditFrog 7 месяцев назад

Congrats on the Gold card Neno! Although I just spent an entire video bombing it, I still believe it can be a great card for the right person. 90k SUB is solid, and even if you don't use the statement credits, you'll still come out ahead this year. If you already have the BBP, the points transfer automatically in your account so you have that covered! I also think it's a good move to downgrade the BCP! I know you loved this card, but there are so many great NAF alternatives out there, you have a lot of options for a replacement grocery card like the Verizon Visa as you mentioned!

@callmeNeno 7 месяцев назад

@@TheCreditFrogI am definitely a Chase ecosystem kind of guy base on my lifestyle, simplicity and minimalist approach to life. I like their hybrid approach if i want to redeem for Cashback

@MasonsTurtle 7 месяцев назад

Yeah it gets annoying. Since I don’t qualify for new welcome offers, I am no longer eyeing any Amex cards right now.

@TheCreditFrog 7 месяцев назад

Absolutely Mason! Sucks that you're in popup jail right now, but hopefully with some time you'll be able to get out. No rush though. Once you're out, Amex still has a good value proposition for SUBs in year 1, but after that, it's getting increasingly harder to justify keeping the cards long-term!

@bogscarreon9523 7 месяцев назад

Interesting... I might do the same...

@TheCreditFrog 7 месяцев назад

Check your spending and setup! You may uncover something interesting you never saw before!

@turtletrade 7 месяцев назад

Chase quintet: CSP, INKs, Freedoms, plus BILT (and maybe WF Autograph soon) are what I use to get free Hyatt stays; all I really need since my wife works for an airline and we fly for free. Net cost only $45 per year ($95 fee on CSP - $50 hotel credit) ;all but CSP have no annual fees. Why pay the huge Amex annual fees?

@TheCreditFrog 7 месяцев назад

Wow, what a powerful setup for Hyatts! And you don't even have a Hyatt card! That's amazing that you can fly for free - what an amazing perk to have! Solid setup, my friend - you are definitely working the system and getting max value for your situation! 🌟

@Leoprieto74 7 месяцев назад

Stan, don’t go anywhere,…Mr. Stephen Squeri will call you in 10 minutes.

@AnthonyVenture 7 месяцев назад

🤣

@TheCreditFrog 7 месяцев назад

Haha, it would nice to be a part of an Amex focus group. I'll just leave that there.

@higherho1540 7 месяцев назад

I feel AMEX higher cards are made for real spenders and not “enthusiasts”. Customer service is top notch with AMEX, stack perks, coupons, etc. Granted not everyone spends over 100 to 400k a year on CCs but for the people that do, I think that’s where these cards really shine. That and as you mentioned earlier, if your lifestyle does not fit this ecosystem anymore, then why did you stay for years? Sounds like it was initially a bad choice.

@TheCreditFrog 7 месяцев назад

I agree. I think that Amex cards truly shine when you're able to rack loads of spend through their cards. That being said, I hate to leave out the enthusiasts, firstly on a more selfish level, but also because Amex does have the best sign-up bonuses. Regarding starting out with Amex, I've only really gotten into Amex over the past 2 years. I got the BCE 18 years ago, and then the Gold card 2 years ago. Loved the card and it's spending multipliers. But then after getting more Amex cards, the statement credits became very overwhelming so I think I just bit off more than I could chew - hence the Amex card reset. I wouldn't call it a bad choice necessarily, but I would have never come to this conclusion if I never lived through this, so I don't regret my decision. The cards worked for me at the time, and now they don't. I plan on using all my accrued points in 2024 for a massive redemption.

@ayman.ibrahim 7 месяцев назад

Amex Gold doesn't make sense anymore! I think people only get it now for its look, Great video .

@TheCreditFrog 7 месяцев назад

It certainly depends on the person, but yes, it's not as easy of a decision to get! Still looks good, but looks aren't everything!

@sarahiwuchukwu7808 7 месяцев назад

For those annual fees makes sense to close some of them

@TheCreditFrog 7 месяцев назад

Absolutely! They are getting sky high and these stupid monthly credits are not helping!

@LivingTheDream21 7 месяцев назад

They are probably doing this to keep their high spenders and get rid of their low spenders. This is what they actually want to happen and are known for having more high income earners. I do agree it's a business and they prefer to cater to their higher end clientele. Hopefully it will work out better for us with more premium benefits.

@TheCreditFrog 7 месяцев назад

I think you're right. It might be a planned customer shift for Amex. Still not executed nicely, though, IMO. I think it's just good to point out to really think critically if you need that high AF Amex or not. Higher earners will probably say yes, others may say no.

@jenniferw8963 7 месяцев назад

What percentage of non-fast-food restaurants take Apple Pay, would you say? e.g. Does Applebees, Cheesecake Factory, Lobster Trap, Chili's, Fancy 5 Star Restaurants etc.. take Apple Pay? (Sorry if I am assuming you use Apple Pay over some other Mobile Wallet.) I know most fast food joints do take Apple Pay. e.g. McDonalds, Carl's Junior, Burger King, etc.

@TheCreditFrog 7 месяцев назад

Yes, any restaurants that allow you to pay with a terminal will take Apple Pay. In some of those sit-down restaurants you have the option to pay with a terminal or you can give them your physical card. I don't know a specific percent, but in practice, it's nice to have a physical card for in-person dining so you can still get a great multiplier back on dining if you can't use a mobile wallet.

@jenniferw8963 7 месяцев назад

@@TheCreditFrog Yeah you've stated you had your BILT card for that as a backup. I imagine you are using the BILT card b/c you need to do 5 transactions per month? Plus I guess b/c it has good transfer partners including Hyatt? Btw, do you ever stay at a 5000 point Hyatt? Chase has such great deals, and I guess BILT has the same access. Sometimes it's nice to save a little money and go cheap :) I am getting a $392 Hyatt Room in Dallas County, TX on April 7, 2024 -- Great American Solar Eclipse of 2024 -- for 5000 points (or $50).

@TheCreditFrog 7 месяцев назад

@jenniferw8963 Yup, you’ve got it! The Bilt card is a great NAF card with good transfer partners like Hyatt! I don’t stay at any Hyatts but yes, there are some great redemptions like the one you just made! I love using my Bilt card for in-person dining so I member have to worry about the 5 transactions per month!

@dral22 5 месяцев назад

I will always be on team cash back till death. That's the only perk that encourage me to use a credit card or else using one would be pointless. Besides my credit score is always above 750

@TheCreditFrog 5 месяцев назад

Great! I'm glad you found a credit card system that works best for you - that's the most important thing!

@ahnonamos 7 месяцев назад

I have 24 credit cards. Zero American Express. If the Schwab Platinum ever makes sense, I may dive into MR points, but holding off for the very end game.

@TheCreditFrog 7 месяцев назад

Dang, that's impressive! 24 cards, no Amex. That's a lot of hard pulls over the years! Respect.

@AP_808 7 месяцев назад

Lots of us are moving away from Amex cards. Ironically they may be encouraging the SUB then dump that I think they were looking to curb. Do you think they will alter benefits or SUBs as card applications stay flat or decrease and Cap1 and Wells Fargo start to encroach?

@TheCreditFrog 7 месяцев назад

Totally agree Anthony! The monthly credits are really encouraging SUB and dump and discouraging everyday spending (for those who are sick of the monthly credits). I'm not entirely sure what Amex will do, but they need to start innovating because Capital One and WF are starting to look more enticing to me, and I can't believe I just said that!

@jnd2415 7 месяцев назад

I’m with you. I see no more value my platinum and Delta Reserve since Amex put a limit on being able to access airport lounges. With such a high annual fee you should be able to have unlimited access to these lounges. Especially since they increased the annual fee.

@TheCreditFrog 7 месяцев назад

@@jnd2415 I agree! I know there is lounge overcrowding, but there must be a better way!

@rolandostaelena 7 месяцев назад

Love Amex customer service. But now settled with a totally unexpected lender. US Bank. I am more a partial expat than a tourist so for my experience US Bank/Elan is brilliant.

@TheCreditFrog 7 месяцев назад

US Bank is my new absolute favorite too! The USBAR card gets so much action now. I hope to add the Cash+ to my portfolio soon! I would not imagine Amex would be good for partial expats since it's not as well accepted internationally as compared to VISA/MC

@rolandostaelena 7 месяцев назад

@@TheCreditFrog no one i know says this but i consider cash+ secured version to be THE ideal starter card. And even one card setup. Bar none. You are obviously guaranteed approval and it is ideally a set it and forget it card. It just sits quietly kicking out 5% for typical bills a young person or family would have. Its actually even better if you can get second thru product change or a spouse.

@TheCreditFrog 7 месяцев назад

@@rolandostaelenaGreat card! Hopefully will add that card into my portfolio soon! The unsecured version though haha, but yes the secured version could be a great starter card as well!

@JackIsNotInTheBox 3 месяца назад

Wait, AMEX platinum doesn't work for domestic travel???

@TheCreditFrog 3 месяца назад

What does that mean? It works for domestic travel but there are not a lot of transfer partners for domestic travel, if that’s what you mean?

@jeffreywilliams9220 7 месяцев назад

I totally agreed amex travel cards sucks especially the delta reserve no earnings back with that annual fee is back breaker.

@TheCreditFrog 7 месяцев назад

I never understood the Delta Reserve card because the Amex Platinum is better. Maybe it's because I don't ever fly Delta and don't understand their system 😕. I agree the DR annual fee is very high!

@DiLeMaSa 7 месяцев назад

I just got my gold Amex because you recommended it in a video 😭😭😭😭

@TheCreditFrog 7 месяцев назад

Haha, oh no!! I want to reiterate that the Gold card is NOT a bad card. It can be a very good card for the right person. In year 1, as long as you get a SUB, it will always be a net positive decision. It's Year 2 and beyond where you have to be careful. So enjoy the card, but always keep your eye out on alternatives if it no longer makes sense for you.

@docsays 7 месяцев назад

I just got mine in may of this year. Don’t worry. As long as you spend at least $6250 or more in the 4x categories that will negate the AF (assuming a redemption of 1:1). And thats not taking into consideration any of the mthly credits or amex offers!

@DiLeMaSa 7 месяцев назад

@@TheCreditFrog Thank you! I'll continue learning about my credit card options

@mylesshelby8052 7 месяцев назад

AMEX preferred cash is great card. 6% cash back on food, 3% cash back on gas and streaming services for $95/annually. The average American doesn’t need the Gold card.

@TheCreditFrog 7 месяцев назад

Definitely a great card! It's definitely a much simpler version of the Gold card. Cheaper, less credits, easier redemption, and has a lot of useful multipliers like you said!

@dougn7319 7 месяцев назад

If you didn't get free Walmart+ would you actually sign up and pay full price for it?

@TheCreditFrog 7 месяцев назад

No, I wouldn't. But since it's there on the Platinum (and now the Business Gold), I figure why not. Once you set it up, it doesn't exist and now you have it.

@CCRobotTube 7 месяцев назад

Makes sense to me. It is beyond me as to why anyone would use the Platinum card for anything beyond flights. Basically anything else is 1x points. It is NOT a travel card. Travel is flight, hotel, taxi/ride sharing, food, shopping, etc. The Platinum card only gives you a bonus in only one of these categories. It may give you hotel status, but having a dedicated hotel credit card will give you far more points than the Platinum card would ever give.

@TheCreditFrog 7 месяцев назад

I definitely look with a lot of side-eye to those who use the Platinum for non-flight purchases. It truly is a benefits card, and I think once you make that mindset shift on how that card is supposed to be "used," you can get a lot more value out of it. Sometimes the 1X is ok if you want that purchase protection or extended warranty for an item. In that case, it can make sense.

@6caznchix 7 месяцев назад

High income earning people use the platinum for their normal spending all the time, they are rich so they don’t care for earning the extra points, they just want the lounge access and benefits and one monthly bill to pay

@KDGzephyr 7 месяцев назад

Debt is expensive American express gotta make it harder on new customers to avoid defaults

@TheCreditFrog 7 месяцев назад

Inflation is real and everyone is feeling the squeeze!

@randomsonmymind6919 7 месяцев назад

I have the platinum card since 2017 and had the gold card since 2021. I canceled the gold card and will downgrade the platinum card. Saving hundreds of dollars and no more equinox benefit, finally.

@TheCreditFrog 7 месяцев назад

I can hear the amount or relief and stress being lifted off your shoulders. And this is through a YT comment lol! It's great that you had the cards when things weren't so crazy with Amex, but now in 2023, there are better alternatives as I'm sure you know! 👍

@alejandrobeltran549 7 месяцев назад

I just got my first Amex in the platinum card and now feel like i made a big mistake😂

@TheCreditFrog 7 месяцев назад

Hey Alejandro - no big mistake! I still believe every Amex card can be beneficial for anyone as long as you 1. Make sure to get the SUB, whatever that is, and 2. Cancel right after the AF posts in 12 months. You have 12 months to figure out if this card is right for you. You start losing money after Year 1 if you don't make that keep or cancel decision!

@alejandrobeltran549 7 месяцев назад

@@TheCreditFrog will definitely look into how well it works out for me and then assess from there. But will definitely look into the advantages and disadvantages of this. Thanks for the great video!

@seand99x 7 месяцев назад

Wouldn’t transferring to travel partners for use with domestic airlines fit the bill?

@TheCreditFrog 7 месяцев назад

It's true. But I don't want to go through the hassle of going from Virgin Atlantic to British Airways to AA, every time I want to make a domestic flight, especially since my dates aren't usually flexible. Transferring to Delta and JetBlue is a possibility, but it burns when you think of all that lost value compared to international first/business!

@seand99x 7 месяцев назад

@@TheCreditFrog I say, as long as it brings you value, and you get to enjoy an experience that you want to enjoy ultimately the value of what you got for the point really doesn’t matter, at least in my opinion

@torrencesorrell5441 7 месяцев назад

@@TheCreditFrogEXCELLENT video Stan… I can definitely see this being one of your highest rated videos yet polarizing and I’m ALL FOR IT!!! I feel the same way about my VX in terms of always having to jump through hoops in order to get solid value out of the points. The CSR is looking more enticing to me as someone who travels domestically a lot more like you! Between the easy $300 credit and redeeming for at least $250 with the 1.5 boost… I’m confident to get positive value out of the card

@TheCreditFrog 7 месяцев назад

@@torrencesorrell5441I appreciate that! And yes, this certainly was a very polarizing video. But it seems like I’m not the only one who feels this way about monthly statement credits. Sounds like the CSR would be a great fit for you!

@sladesurfer 7 месяцев назад

cancelled mine long time ago. lots of places I go to refuse to accept Amex

@TheCreditFrog 7 месяцев назад

Probably for the best then. It's super annoying to have to pull out that backup card so might as well just do that anyways!

@sladesurfer 7 месяцев назад

@@TheCreditFrog i switched to all chase cards im liking it so far. Not really missing the centurion lounge. Always packed anyways no matter what month i fly

@isaiahlaufenberg 7 месяцев назад

I just wish Amex cared more about their consumers, they offer too many credits and pull away too many benefits. I would love to stay committed to them with savings, checking, cards, etc. but they make it too difficult

@TheCreditFrog 7 месяцев назад

That's so true Isaiah! I want to like them, but they certainly make it difficult! I think Amex does care about their customers, but they expect an annual fee for the service and want you to believe that the increased annual fee is justified by the statement credits. It's up to us to vote with our feet.

@DarkCeremony 7 месяцев назад

I love couple books

@TheCreditFrog 7 месяцев назад

cool!

@mazenkheder3309 Месяц назад

I believe canceling a credit card can potentially hurt your credit score?

@TheCreditFrog Месяц назад

It depends on how much credit you have. If it has a larger credit limit, your utilization may go down depending on how much you're actively using your credit cards. If you have a good history on that card, the card will remain on your account for the next 10 years and your length of credit history will not change much.