AmEx Gold Card Unboxing + Review -- Worth $250?

[@JakeBroe]

Thanks for watching everyone! If you enjoyed this video then be sure to give me a LIKE! If you want to learn more about incredible credit card setups, check out my trifecta playlist: kzbin.info/aero/PLscTZuOqKWIyZ0Z4XAcF2y06mq7x_-xwx

[@codygammon6271]

Fantastic video. really made me realize a LOT I hadn't considered when I was thinking about getting the Amex gold.

[@abea.6759]

Unbiased opinion can only come from the man who pays $0 in annual fees and doesn’t make a living from referral links. Keep going, Jake! You’re the man.

[@JakeBroe]

Thanks, Abe! I made a decision back in December not to post any referral links anymore or try and get referrals through creditcard.com. I don't need the money and it is a conflict of interest with these other KZbinrs.

[@santi961]

@@JakeBroe THANK YOU!! 🙌

[@fsruiz64]

I don’t normally comment, but looking at the opportunity cost was something that isn’t mentioned by the other KZbinrs. Thank you for the refreshing insight and I’ll definitely watch future videos :)

[@JakeBroe]

Thanks so much for the comment! My next video later this week is going to compare the Chase Trifecta with the opportunity cost of no annual fee cards. It's going to be good!

[@mikescents6237]

No one else breaks it down like this guy I love it! Hope you get more attention man!

[@JakeBroe]

Thanks Michael! I am working on it. Expect more videos soon!

[@KingGreen78]

I think Jake's speaking from the average Joe perspective.

[@mineOST]

Great points. Finally someone who focuses on forced spending. I think the Amex is Gold only for the convenience of using one card in multiple big categories and for people who simply want to hold a premium feeling card.

[@JakeBroe]

Haha, truth Peter! I feel like a baller when I pay for my tacos at Qdoba with a GOLD card, lol.

[@tg693]

@@JakeBroe haha, I just got the Amex Gold Card today. I was wondering how you felt when you use it and do what type of reactions, if any, do you get when you hand it over to cashiers/servers

[@legolas1233]

I'm a great fan of AMEX Gold but I did enjoy hearing a different perspective. Few things to the pros list for the Gold, 1) Opportunities to redeem offers a few times during the course of the year that would save on the Membership fee. 2) Superior Customer Service. Again, it all depends on the type of spender/user of the Gold which works out great for me. But I agree with your point that it does force you to spend on certain categories that you do not normally spend to redeem the yearly fee. Great video!

[@JakeBroe]

Thanks so much legolas! This card has gotten better now that they announced they are ditching the airline fee and adding a $120 Uber credit. Cheers!

[@bobsac6201]

@@JakeBroe ok

[@rexnicious]

By far the best, and most honest, review of this card on the interwebs.

[@genie5935]

Thank you so much for breaking down the gold card the way you did! Watching other KZbinrs almost convinced me to get it, but something wasn't sitting right, and I think you spelled it out perfectly. Appreciate ya , Jake!

[@JakeBroe]

You are very welcome Genie! Thanks for commenting and be sure to subscribe to my channel for more common sense finance breakdowns like this video!

[@JohnPavlish]

Thank you Jake! So many people need to hear this point of how credits are hard to use. I am lucky that there are a few places I could use, but a meal costs more than $10, so I end up spending more. Unless I got an appetizer for a meal lol.

[@JakeBroe]

Yeah, I'm not willing to spend anything more than the$10 credit I'm given, so I just use GrubHub. I don't need to eat at the cheesecake factory every month, haha.

[@rohansoni8607]

Best, most comprehensive video I have seen on it. Thank you.

[@gwvaio]

It blows my mind you can’t use the airline fee credit to actually purchase airline tickets.

[@JakeBroe]

It is deliberate. AmEx makes it money off of people paying the annual fees and not using (or being unable to use) the credits. Which is why I don't recommend these high end AmEx cards to people who I know aren't going to do the research to maximize their value.

[@DugrozReports]

Yeah, that dining credit is ridiculous. (and, like you said, deliberate). Just let me go eat my KFC and Burger King!!! :) -- The Gold Card Keeps trying to suck me in, so I'm glad to have this video to help me resist.

[@solidstream13]

gwvaio you can’t even use it for in flight entertainment, WiFi or food. Only “incidentals”. It’s a joke.

[@VGx7]

What exactly does the airline fee cover? Checked luggage? In-flight snacks and wifi?

[@solidstream13]

VGx7 yes checked luggage but they denied my inflight snack and WiFi

[@BradleyBishop]

I agree with Jake. I'll be dropping my Amex Gold next month. The problems: - The $100 airline fee credit is close to worthless for me. I can't use it for gift cards. I get free bags based on status, anyway, and upgrading your seat doesn't trigger it. I think that I might be able to trigger it with drinks at the SkyClub or on board but I'm not getting hammered when I fly. - The $120/yr food credit has been that thing that I have to remember to use each month. I actually have a reminder set for it. I use it for GrubHub and it's something I never used before and once I get rid of the Gold I'll probably use if very rarely. After the food, plus the delivery fee, plus the tip, etc. It takes $10 off which amounts to: You get to buy the food and pay a little for delivery. Of course, you could just go pick up the food but this is already kind of a hassle to use... It also seems dumb to give someone $10 back on a meal at a rather expensive place (Ruth's Chris or Cheesecake Factory).. It's like you just dropped a couple of bills on dinner somewhere and Amex says, "Here! Have $10.. Now go repeat this 11 more times this year!" If you're accustomed to eating at such places the $10 won't matter to you. If you're not, then you're probably not going to eat at them once a month, and then that takes you back to GrubHub. The 4x back on dining and grocery stores is good. The airline fee reimbursement could work well for someone who only travels 2-3X/year. The $10 dining credit would really be geared toward the millennial types who order from GrubHub and then go pick it up. For that kind of person, though, it seems like the Amex MR points would be rather worthless. So it's kind of an odd fit to me. The Amex Platinum has a similar problem for me. You get 5X back on airline spend. That's really good. You get lounge access in many airports based upon the various providers. If those things are important, though, you're probably flying enough to where the status matters more than the 5X back and you probably have lounge access through your status or another card. The Amex Platinum gets you Gold status at Marriott and Hilton but, again, if you're traveling enough for that to matter, you probably already have that or higher. My Platinum goes away after the Gold. I haven't used it in a year. With the Platinum you have the same problem getting back the, now $200, airline fees plus you get $15/mo credit on Uber (and an extra $20 credit in December) which is nice but, again for me, it's very much a forced-spend sort of thing. I may take Uber once in a while but now I have to take it once a month to get that money back. Again, this sort of credit would make sense for a millennial but a millennial probably wouldn't burn through the $200 airline fee credits and wouldn't have much use for 5X back on airline spend. Again, the fee reimbursements seem like an odd fit.

[@JakeBroe]

Thanks for the comment Bradley!

[@gullylifestyle99]

Simple city bank double cash for regular things and Amex gold for dining and shopping

[@Kube4x]

Solid review. As a millennial, the credits offered seem good to me. I would definitely remember to use them.

[@abea.6759]

Another banger! Thank you, Jake. At the moment, my wife and I use the Plat for hotel/airline purchases and big ticket items + Blue Cash Everyday for groceries + Chase Freedom for gas + American Airlines card for restaurants (we fly American for the most part). Analyzing the numbers, we’re “splurging” with the Plat card but we value luxury experiences and convenience so it makes sense for us. We travel internationally 2-4 times/year and domestic about 3 times. I’d love to hear your thoughts!

[@JakeBroe]

Traveling 5 times a year makes the annual fee for the Platinum worth it if you and your wife frequent lounges for snacks and drinks. And you do your best to use the Platinum's $500 in credits. There are probably more no annual fee cash back cards that you could pick up to increase your percentage average a little bit, but you guys are doing great.

[@jonesyisdabest]

This was made before Amex Gold added the $120 Uber credit. $10/month. A little better of a deal to have this card now. May 2023*

[@jonb3189]

Hard to disagree with you. Overall I like the card. Have the Rose-Gold card, which is bit nicer and bit more bling to it. Use 4X for dining all the time. The airline fee "credit" which is really goofy. Never use their dining credit either. I need to reconsider if the card is worth it.

[@JakeBroe]

You might want to sign up with Grubhub and then just get a $10 meal pick up somewhere just so you get your full value. You are paying for it anyways. Check out my video how to do that. kzbin.info/www/bejne/aamuiY1jec-BiMU

[@Nmartinez1109]

Jon B that’s my problem. You nailed it. I’m in the same boat. Don’t know what to do.

[@PatriciaGarcia-gj3tp]

I was about to get the Amex Gold, until i watched your video, and I am so glad that I did. I already knew that it would be better worth it for me to just get a no annual fee card for restaurants because the $250/year defeats the purpose for a normal person. Thank you!

[@Joeylikecoffee]

I’m somewhat on the fence about the gold card because of the current bonuses. But now I’m leaning back on the side of wait and watch. Thanks again for your vids Jake.

[@JakeBroe]

Hey Joel! I will probably make an updated video on this in January when the change is official, but with the $120 dining credit and the new $120 uber credit... this card is significantly better. The $100 airline credit will still be there for 2021, but I value it personally at $0.

[@TheTubeMeister]

Not sure if you’re in America or Canada but in Canada - American Express has the cobalt card. By far the best AMEX card! I have the cobalt card. Amazing points. Better than all their cards.

[@rainy_days]

I love this card. I spend about 1.5k to 2k a month dining out and about 1k a month on groceries. I put everything else on my platinum

[@JakeBroe]

Haha, that's a lot on dining out! Big spender!

[@NaamWynn]

Excellent unboxing vid! I need to make some of these when I'm allowed to get more cards! Maybe on my next business card of something. I like the comparison of the other simple everyday cards. Most KZbinrs don't mention these comparisons. Even for someone like me who has a bunch of cards, I only hold a few in my wallet that I do use often. I mainly chase the signup bonuses and then refer back to my other cards that are my daily users. Almost 2k bro! I'm pretty sure you'll hit it by the end of the year!

[@JakeBroe]

There is an opportunity cost to using the AmEx Gold and paying a fee over other no annual fee cards. AmEx knows this, and they know that credit card nerds will surpass that opportunity cost and then tell everyone how they are a genius for using the card so well. Then other people get the card and use it poorly, and then don't make as much than if they were to just use their regular no annual fee cards. This card (and the Platinum) makes a lot of money for AmEx from people paying annual fees and not using the credits and points correctly. It's kind of a trap and I am not going to recommend this card to people who I don't think will track their points and use them correctly.

[@OffroadTrucker740]

im glad you mentioned those other two cards. i have them both and none of the main 3 credit guys mention it. if they do its a low emphasis

[@JakeBroe]

No, the other credit card KZbinrs don't talk about opportunity cost much. They focus on "break even" points and I don't think that is a good metric. Cheers!

[@crowfamily2011]

Very wise advice. Thank you!

[@tindinh7899]

This video deserves more views!!! Thanks Jake!

[@JakeBroe]

I agree! haha, thanks for the comment

[@BaKeiDurr]

If you can take advantage of the 4x category for supermarkets up to 25k. That's a 100k MR points per year. Great for restaurant owners and caterers.

[@JakeBroe]

Definitely!

[@headlibrarian1996]

A restaurant owner or caterer is presumably buying wholesale, not from a supermarket.

[@alexthesuperb]

Thank you so much for making this video! I go back and watch it whenever I feel tempted to apply for this card. In addition to the opportunity cost analysis, I like to ask myself this question: "Would I still want this card if it had the exact same annual fee, multipliers, and credits, but was offered by Capital One?" And the answer is definitely no--it's the American Express name/branding that makes it seem so appealing. You're right, it's a luxury trap.

[@JakeBroe]

Haha, awesome Alexander! Sounds like you know what is best for you then!

[@brianjmartinez7530]

This was a great video you really went into details. I just wish other did the same you nailed it great

[@JakeBroe]

You are very welcome Brian! Be sure to subscribe for more videos!

[@fiercemillionaireproject3824]

Literally just got off the phone with Amex where I was approved for this card! Can’t wait to unbox this on my own

[@JakeBroe]

Sweet! Congrats!

[@ChristopherWalkenPUA]

Completely agree. Amex makes the dining credit and airline incidental credit too hard to use.

[@ScottLeRay]

Good video Jake! I've had this card for about a year and LOVE the point earnings/benefits i've received. I just made a 1 year review video. Check it out. I mainly use this card for groceries/restaurants (big family) and also only transfer points out for flights and get about 1.5 to 2 cents per point back. But like you I'm a credit card nerd as well.

[@JakeBroe]

Thanks T&I! You are correct and you sound like you are using the card to its full benefit. The reason I made this video is because I was talking to a friend who had the card and I asked her if she was using the credits and transferring her points to maximize value and she had no clue. I think 99% of people would be saving more money with just using the card strategy I mentioned.

[@wadewatts243]

My God, thank you for speaking plainly about this card. Everyone acts like the Gold card is amazing but it's really a rip off unless you do some fancy transfer for travel rewards, but otherwise it's a terrible deal for actual cashback. Checkout Amex's stock price of the last year. They are making a KILLING on this new Gold and Platinum card by tricking people into thinking they're good cards.

[@JakeBroe]

Yeah, AmEx has financially been killing it with these high annual fees to present their cards as luxury experiences. They justify it with these discounted credits people can redeem to get their money back, but easily a majority of people don't use the credits or use them poorly. It's still a great card for credit card nerds, but it requires a lot of thought and time that every day people just do not have.

[@Nmartinez1109]

Wow! This was a great video. The focus on detail, AWESOME! I think you just made my decision on canceling my Amex gold card. Thank you.

[@JakeBroe]

You are welcome Noel! Look in to the Blue Business Plus card! 2x on everything and no annual fee, it's the greatest AmEx card ever in my opinion.

[@Nmartinez1109]

Jake Broe I have the blue cash everyday card and the cash magnet as well. So idk if it makes sense for me to go that route? Your opinion. Also what’s your feelings on those cards? Thanks.

[@SenorDennis]

This was the first video I’ve come across of yours and it was excellent. Thanks for the info

[@JakeBroe]

Thanks so much DennisK! Be sure to subscribe if you have not already. Cheers!

[@ShadowKingpin]

For your honesty, you just earned a subscriber. Thank you for this great and through review! :)

[@JakeBroe]

Awesome! Welcome to the channel SK! Great to have you with us!

[@Joeylikecoffee]

Great perspective and breakdown. I also watch those other youtubers, but when I watch your videos, it all seems to make more sense. Thanks! AIM HIGH

[@JakeBroe]

Thanks! I appreciate the feedback and encouragement!

[@austinrobert8881]

It was a one year and cancel card for me. I have the Blue Cash preferred for 6% cash back at grocery stores and don't dine out enough to justify the annual fee. Every person's lifestyle is different and this card may work well for some people long term, it just didn't for me.

[@JakeBroe]

Cool! Thanks for sharing your experience!

[@curmudgeonextraordinaire1884]

I have the BCP Card too, I love it.

[@maheshrao3250]

I have to say I’m in favor of the Amex Gold vs others - I live in a Delta hub, and my family resides in another Delta hub, so I prefer something that builds sky miles, Chase unfortunately does not. I also spend way more on groceries than I do travel, with dining being a wash, so for a guy like me the Amex Gold is the way

[@JakeBroe]

Makes sense! This is a great card for earning Delta Skymiles!

[@williamlaast530]

Great video, but I thing the Amex Offers you get with premium Amex cards more than make the Gold card a better pick than the BCE or Propel. I’ve personally saved several hundred dollars using some of the targeted offers.

[@danielboujee]

How do you hear about these offers? Do they text you?

[@user-pv9cf4fr6d]

Is it really metal? Sounds plastic when you dropped it. Doesnt have the clang in metal cards

[@keroameen4644]

Hi Jake I love the video man keep it up but I’m wondering if can you use the food credit towards the $250 annual fee? And can you use the points to pay off the annual fee?

[@christopherwilliams3293]

You deserve more subscribers! Very good video!

[@JakeBroe]

Thanks Christopher! I agree!

[@sam9242]

I valued the Roadside Assistance so losing it next year is a big cost. I switched to a Blue Cash Preferred, a Blue Business Cash, and an Everyday card to park the points. I never got any value for the airline credit. Same for the dining credit; only used it 3-4 times. Points always annoyed me because they are just too much work. You are right about the Propel card. I just refuse to do anything Wells Fargo.

[@JakeBroe]

Yeah, Wells Fargo is terrible. But it's a great card, lol.

[@Matake2007]

Great video! I think you undervalued the dining credit due to Grubhub. You can place the order at many restaurants and just pick up so you don’t t even pay the delivery fee.

[@JakeBroe]

I have actually never used Grub Hub, but it looks like I am going to have to start now, lol. Thanks!

[@Matake2007]

Jake Broe also pro tip, if you go through Rakuten and sign up for grub hub and seamless you get an additional 7% on your first purchase for each

[@MuertoInc]

Restaurants charge a PICK UP fee? WTH?

[@thirstylion2671]

MuertoInc no they charge a delivery fee, if you pick up there is no fee. I do it every month with the gold card. I get the full 120 dollars every year.

[@justinal23]

Yep I think this is the best method. If I’m going to go to Wendy’s (or another place) anyway, I can order on the grubhub/seamless app for pickup for the same price and save $10/month.

[@anishvarughese2453]

I love your videos man!....thankyou for keeping it real

[@JakeBroe]

Thanks so much Anish! I appreciate the support!

[@sanderrambelje]

I love that you talk about opportunity cost, every time I see other content creators unveil a whole stack of credit cards they own with annual fees totalling $2000+ just to get 1% more rewards on their phone bill and a $10 uber credit, I'm thinking, one would probably be better off switching to a bunch of no annual fee cards. However... I am a big fan of Amex offers. There are some better months and some lukewarm months, but many of the better offers are really reserved for the Amex Platinum and Amex Gold, and - having the Amex Gold - I estimate they save me around $200/year on spending that I would have done anyway. Examples include $120 off $300 on Delta flights, $25 off $100 at Best Buy, $50 off $175 at Hilton (and similar, frequent offers for Marriott and Hyatt hotels), and 3 times $20 off $50 from Wine Insiders (which, stacked with offers from their newsletter, allowed me to purchase many different and decent wines for under $5/bottle, delivered). Not to forget the 20% off select Amazon purchases (incl. gift cards) using just 1 Amex MR Point promotions that appear once or twice a year. I always max these out by stocking up on Whole Foods, Uber, Best Buy and Sephora gift cards. It's really unpredictable how much everyone can benefit from these offers, so hard to quantify in a predictive CBA, but it has lifted my Amex Gold from a net $400 to a net $600 value per year after the first year, which is sufficient to warrant the effort.

[@JakeBroe]

For sure! AmEx offers are pretty nice! People need to know about them though, but for those who care, big savings!

[@dwalker6868]

Thank you !

[@JakeBroe]

You are very welcome D! Happy Halloween!

[@dwalker6868]

@@JakeBroe same to you 🕸

[@richard1113]

Thank you for adding some sanity into the conversation about AMEX Gold. I'm amazed at how many people think this is the most amazing card ever. I've never seen it that way. I think the segmented dining credit is the most offensive part of this card. But like everything it's probably great for some people, just not me.

[@JakeBroe]

I think the worst thing about it is the airline incidental fee. For those that have the trifecta of the Platinum and Gold, that is $300 in incidental fees. It's a waste for most people and AmEx designed it that way.

[@richard1113]

@@JakeBroe Yea, you make a really good point. At least with the dining credit, I know what to do and what I can use it for. The incidental travel fee credit seems way more mysterious and not clear what I can use it for or where.

[@IkaikaArnado]

The break even for the gold card is $375 of grocery and dinning spend provided you redeem MR points for at least 2 cents and use all the credits.

[@JakeBroe]

For sure, if you can get 2 cents per point with transfers, use all the credits, and spend them on must travel, then this is an excellent card to have.

[@consumerdebtchitchat]

Don't know what my BBVA card weighs. But I do know it is 2% cash back on EVERYTHING I buy ... and I haven't paid interest on a credit card in 7 years. I have an Amex card but I don't use it - because it doesn't do what my BBVA card does for me. I refuse to pay annual fees whatsoever for a credit card. I'm gonna live vicariously through your card :)

[@wiskyNrum20]

I will subscribe to you because you seem like a straight arrow on this reviews

[@JakeBroe]

Thanks Manuel! Welcome to the channel!

[@nicholassmith3025]

That's so funny - I use both those cards almost daily (propel and blue cash)

[@JakeBroe]

Awesome! Great cards!

[@nicholassmith3025]

Jake Broe one caveat I want to point out though is that even though the propel is technically Amex, you have to use Wells Fargo’s website and customer service lines, which both are inferior IMO

[@docsays]

Another excellent review! I agree. Unless you transfer through the portal or have the CS platinum to redeem the MR points I don't believe it's worth the AF. Hell I can get 5% back on groceries & dinning 6 months out of the year between my discover & chase freedom! Plus I have the target red card for backup. But I will probably get the amx BCP for the 6% since groceries are my biggest expense.

[@JakeBroe]

Thanks for the comment Doc! You've mentioned your setup before and we are on the same page. I only recommend to my family and friends no annual fee cash back cards. I really need back under 5/24 someday so I can get a Freedom card, haha.

[@Mr_Hugel]

Great Review. Thank you for your perspective and for taking the time to create the content.

[@JakeBroe]

You are very welcome Alex! Cheers!

[@minimalist_monk]

Love my Amex green. It’s like a girlfriend who is a solid 6. Isn’t going to turn heads but doesn’t cause trouble and will be there faithfully. 👍

[@HeijiFlying]

Over 20% blows my mind. In Switzerland it's 12% which is rip off anyway

[@JakeBroe]

Yep... haha

[@ramseshernandez7340]

You should do more videos like these with other credit cards. Very helpful knowledge

[@JakeBroe]

That's the plan! I am making a video on the the Blue Cash Preferred card for next week. Subscribe and check back!

[@kevinm4069]

I find it refreshing that you mention opportunity costs because most of the other youtubers and or bloggers do not mention it at all. It's not as if the Gold is the only dining card available. For that reason you have to not calculate the breakeven point but also the breakeven point against the other options which are lower/no annual fee. Some people just want to spend the AF to have the metal card and I guess whatever makes them happy but on a financial level the Gold is not going to be best for everyone or even close.

[@JakeBroe]

It’s a fun card, lol. People waste like $2,000 a year on gourmet coffee. Spending $250 on a gold looking card isn’t an individual’s worst spending splurge. Haha

[@DragonXslash4]

Love the breakdown !! I really wish the rose gold will come back out . Then I might pull the trigger on it and trying wait for the highest promo for the platinum too :/

[@JakeBroe]

Haha, I think if they brought back the rose gold card, they would have to limit it to just new applicants. Otherwise everyone would be asking for a card replacement. Cheers Scott!

[@directdirector]

Rose gold now available for everyone and yes lots of people asked to switch.

[@jesseyanez9293]

Let's say I have the gold card and I apply for the platinum next year will I get the bonus for the platinum as well?

[@ogkgb4762]

Nice breakdown! I'm letting my Gold Card go for the Blue Cash without hesitation. Shoutout to the MKE flag!

[@JakeBroe]

Go Packers! Go Bucks! Go Brewers!

[@user-pv9cf4fr6d]

I have a BMO Eclipse Privilege. I feel like this card cover most of amex gold (unless im wrong). Worth adding this card too? Would be useful for benefits + no conversion fee on us purchases from canada

[@twlt1978]

I love the propel card best no annual card out!!

[@saml6121]

Thank you for your thorough reviews

[@JakeBroe]

You are very welcome Jose! Cheers!

[@kevin007bre]

Agree 100%. This card and few others will tempt you to spend more and use less benefits... which is understandable if you look at it from the AMEX shareholders perspective.

[@JakeBroe]

Yeah, AmEx is making a fortune off of this card, but I don't think most people have done the math on the benefits of the card vs the opportunity cost of simple 3% cashback cards. Cheers Kevin!

[@andranikgaljyan4797]

I just got my gold card only because I have an Amex corporate card and took advantage of the Amex corporate advantage program. I qualified for a $150 statement credit with the platinum and $100 statement credit for the gold. Since I dont travel much I just apples for the Gold.

[@JakeBroe]

Nice! Statement credits are great and can offset that annual fee.

[@MyJigarpatel]

4x reward rate on restaurant and us supermarket is good. It worth if you can use $120 annual dining credit and $100 airline fee credit.

[@JakeBroe]

I agree. But I think the airline fee credit is hard to use and a waste of money. Earning 3% cash back on a no annual fee card is better for most people than 4x points for those people who don't redeem points well.

[@stephenwright133]

I know you did this video 8 months ago, but I think it still holds true. I thought about the Amex Gold, but I know of a card from a more local bank that offers 3% back on supermarkets, restaurants, and gas purchases. It's a mastercard that is accepted virtually everywhere. I know everyone's circumstances are different, but I don't understand the "flex" on this card. In the end, like all credit cards, it's just a tool. Unless you have outsized spend and can play the transfer points game well, or can use these credits effectively I don't see the attraction. The only reason I would get this card is to get the sign on bonus, but I would be looking to cancel after the 1st year.

[@JakeBroe]

Very true Stephen! People can spend their money on this card if it makes them happy, but the "flex" they desire comes at a cost.

[@racewiththefalcons1]

Update on the sign-up bonus for Wells fargo Propel: it is now 20k points when you spend $1k in 3 months, which, I feel, is a better deal because it's an easier target to hit, and you earn 66.6% of the previous points bonus while having to spend 66.6% less, so while you gain fewer points, they have a higher value than before. Benefits remain the same.

[@JakeBroe]

Great update! Thanks!

[@MatteBlackEverything]

Well said.. thank you. I am eligible for the gold card, but you're absolutely right. Although the deals have changed, and I feel like I'd get more with the current deals, I still doubt I'll be getting my full money's worth.

[@juliuswijaya2926]

why can't platinum user get a little bit of benefit like gold card such as dining/supermarket. it would be the best of both world :(

[@JakeBroe]

It would be too good then. AmEx can't make it simple for us.

[@DanielRall]

Amex also wants to sell you _multiple_ products, with compounding complexity, increasing the chances of failure to execute optimal strategy.

[@racewiththefalcons1]

@@DanielRall Bingo. They want you giving them as much as possible each year in annual fees because having multiple AF cards means you are less likely to make each one profitable for yourself in one year.

[@AndresShreds]

Hey Jake. What calculations would you use to figure out the 50% redemption towards travel when using the Wells Fargo Visa signature? I’m eventually getting the WF propel and will apply to the WF visa signature 15 months after. I am also considering getting the AMEX gold then later the AMEX Schwab platinum. For MR points I’d only redeem to Schwab or to transfer partners. I am trying to figure out which duo of cards I’d have more bang for my buck when redeeming to travel.

[@headlibrarian1996]

Another interesting comparison is with the Amex Blue Business Plus ($0 AF). The Gold offers a margin over the BBP of 2x MR on dining and groceries and 1x on flights. For your sample budget, that's 15,400 points per year, worth $154-308 dollars depending on redemption. A pair of $0 AF BofA Cash Rewards combined with Platinum Honors status, earning 5.25% on dining, 3.5% on groceries including warehouse clubs, and 5.25% on travel more broadly defined than the CSR (no primary CDW or status anywhere though) earns about the same as redeeming for 1.25cpp at Schwab (which equates to 5% on dining and groceries and 3.75% on flights). However, if you value the Gold at $-100 I think you need to get close to 2cpp (8% on dining and groceries and 6% on flights) to make the Gold clearly more economically valuable than that pair. The big difference with the annual fee cards is the huge signup bonuses, because for most people earning free flights on organic spending takes a long time.

[@JakeBroe]

Yep, I wish I had the money to qualify for platinum honors. I would be all over the BofA cards if I did, haha

[@headlibrarian1996]

Jake Broe They’re cool, but I don’t see why anybody with a military fee waiver would want them. The Amex cards are unquestionably more valuable. The BoA Premium Rewards does make a great Visa back up for an Amex setup, with its 2.625% cash back on uncategorized spending and 3.5% on dining and travel. The PR (and the CR) also has things in its travel category nobody else has, like RV and boat rentals, aquariums, museums, and amusement parks. I happen to love big roller coasters, so that’s neat.

[@JakeBroe]

@@headlibrarian1996 , I won't be in the military forever. ^_^

[@headlibrarian1996]

Jake Broe Sure, but since I don’t know if you’re planning to resign your commission after your mandatory term of service is complete I had to hedge my language.

[@gbarrett123]

Great review. Your breakdown of the the worth was well done.

[@JakeBroe]

Thanks GB! Be sure to subscribe!

[@gbarrett123]

@@JakeBroe I did. Good luck.

[@PolantiD]

After watching this video, I decided to apply for the Wells Fargo card. This would be my second card, I'm a beginner. But they rejected my application, despite the fact that I had 750 score. And a month after that I received an offer from American Express and now I am waiting for my gold card.

[@JakeBroe]

Still a great card with plenty of year 1 value! If after 1 year, it doesn't make sense, you can always cancel it and get a different card.

[@facelessman5362]

I'm been considering the Blue Cash Preferred over the Gold Card for similar reasons you discussed here, thoughts? Most of my spend is groceries. I like the way you think !

[@JakeBroe]

Hey FM! I made a video about the BCP. It's still a good card when you spend on it correctly, but the math is a little deceptive. Here is the video I made on it. kzbin.info/www/bejne/gZjLfXeFd7GrpsU

[@facelessman5362]

@@JakeBroe Thanks, watching now will leave a like. Your pragmatism is refreshing.

[@amirmoradi9595]

Good points made in this video. I got 60k points for a sign up bonus, but unless I can get a retention offer next year, I may not keep it.

[@JakeBroe]

It's tough with all these other cards like the Freedom card adding a grocery category. AmEx might be having to offer a lot of retention bonuses if they want to keep people.

[@modernadulting6857]

The offers the highest combined rewards rate you can find on both U.S. supermarket and restaurant purchases - making it ideal for foodies. Plus, it comes with several travel protections and credits that can help offset its high annual fee.

[@JakeBroe]

If you can get great value from your AmEx points with transfer partners, then this is a great card!

[@hibbskhan5376]

im new to this American express card so if you start using the card will there be any money in that card or do u have to transfer the money from different account to the American Express and then spend the money in first three months??

[@johnwick860]

airline credit was removed Feb 2021

[@oeckstei]

I would love to get the wells fargo propel. Only issue is how good of a redemption ecosystem is it compared to Amex and chase. Can I find good deals on flights and hotels through their portal and get more value for my points. Someone should do a video on this process for WF Propel. Jake? Lol

[@JakeBroe]

Haha, I would love to do that video but at the moment I don't have any Wells Fargo cards. But from what I've heard, it's the same portal and same prices you see from the other bank-expedia powered booking sites. I don't think you will get a "better" deal than just treating the card like a simply cash back card.

[@TheGiantfox]

Im in the military so the AF is waived. Do you think its worth it to get this card strictly for dining? Ive been using the Uber Visa Card to get 4% cash back on dining but that benefit is going away so im looking for a new card for dining.

[@JakeBroe]

I recommend getting the Charles Schwab Platinum card. If you earn 4x points on this card, you can transfer your points to your Schwab checking account at a 1.25 rate, so it is like getting 5% cash back on dining.

[@bryan3ish]

great video thanks it really says a lot

[@JakeBroe]

Thanks for the comment Bryan! Cheers!

[@brandilange6195]

Jake, I was just considering the Gold Card. While I was looking at the AMEX cards and current offers...I got distracted by the AMEX Blue Cash Everyday card which is offering 20% back on Amazon.com purchases (!!) up to $300 in first 6 months. This seems pretty amazing, is this normal!??? (For background also AD military with AMEX fees waived). I don't have the Blue Cash Everyday card, wondering what you think. Thanks!

[@JakeBroe]

Hey Brandi! Normally, that would be a good SUB, but since you are active duty and get annual fees waived, you should really only being going for cards that will give you value every year that you remain in the military. The AmEx Gold card gives you a 50K sign up bonus (worth $625 with the Schwab card cash out) and then you get $230 in credits (grub hub and airline) every year you stay in. Likewise the Hilton Aspire and the Marriot Bonvoy Brilliant card gives you free hotel nights every year and credits towards there hotels worth upwards of a thousand dollars. AmEx caps you at 4 individual credit cards (and then as many charge cards as you want). I would not bother with the BCE to take up one of your limited credit card slots. Get the Gold card!

[@brandilange6195]

@@JakeBroe Awesome, that's what I secretly wanted anyway. Thank you!

[@waynet3456]

I disagree with you. I have had the the gold card for 7 months and have earned 51,000 points not counting the 50,000 points I got after the minimum spend. I use the dining credit every month for a free lunch and still earn 4 times points for the meal and have no trouble using the airline credit. I always get at least 2 cents per point when I transfer my points out to an airline so effectively I am getting 8 cents per dollar on restaurants and grocery. I can't find any no annual fee card that would give me 8 cents on the dollar. Good comparison on the video. I enjoy traveling so the points bring me a larger return.

[@JakeBroe]

You are correct that the more you spend on the card the more your 4x multiplier outpaces the no annual fee 3% cash back rate. I just went with $600 a month on food because $20 a day seems reasonable. Earning 50,000 points in 7 months means you at best are averaging $1,785 a month on restaurants, grocery stores, and airfare. That seems a little high and outside the norm of the average person. I would definitely consider you in the 1% of consumers then that this card makes sense for. But I still don't recommend this card for family and friends.

[@waynet3456]

Yes I am one of the lucky ones. I put business expenses on my personal credit card and then get reimbursed for them. I will be flying 3- 4 times a month starting in February for business so I think I will get the amex platinum next month for the extra 2 points per dollar spent. Just need to run the numbers to make sure I will get the expected value for it.

[@JakeBroe]

@@waynet3456 , I have videos on the platinum. I recommend getting the Charles Schwab version if you do. Brokerage/checking accounts with Schwab are free and the cash out benefit is great. No reason in my eyes to get the vanilla version of the card.

[@waynet3456]

@@JakeBroe yes I agree it will be the Charles Schwab version. Already have charles Schwab investment account.

[@JakeBroe]

@@waynet3456 , sweet! You are killing it!

[@blackielife]

Do you think the card is worth it just to hit the sign up bonus that’s currently available? Spend 4K within 6 months since amex extended it for an additional 3 months due to COVID-19. Currently have the chase trifecta and couldn’t be more happier with my CSR.

[@JakeBroe]

For sure! All of AmEx's sign up bonuses are fantastic. If you are comfortable opening cards and closing them after a year, then you probably will never run out of AmEx cards to apply for. AmEx is betting you'll keep the card after one year though, lol.

[@djtruedomination]

I get a lot of value out of this card. It is my workhourse for grocery stores and restaurants.

[@JakeBroe]

Yep! It's great for people who know how to redeem the points well!

[@lancebrady6075]

Propel card is awesome however the travel protection is trash. That's where Chase is usually beating everyone but how much that is truly worth is dependent on the person

[@JakeBroe]

Very true. It's nice it is a broad category, but you have to be careful when booking flights.

[@everettsager4654]

Greetings from Alaska. I seriously considered this card but the six resteraunts don't seem to be in my state. Otherwise I may grab the card. Anyway thanks for the review.

[@JakeBroe]

You are welcome everett! If your city/area has Grubhub (a food delivery service), then that is your best chance at using the credit in my opinion. Cheers!

[@CruuushaL]

Best card to get if I just want a high spending limit ?

[@amherst2013]

Hey Jake what is your advice for someone who wants to start youtube 2020? What is the steps to create content

[@JakeBroe]

There are lots of great channels and great KZbinrs that go in to this. My #1 tip is to just start. You are going to be "not good" in the beginning. Watch my earliest videos, it's pretty bad and awkward. Everyone has to power through this phase and not get discouraged. YouTubing is a lot of work and continuous learning process. But for those that can stay self-motivated, it is great rewarding! Good luck!

[@levig9274]

If I already have the Wells Fargo propel would it be worth to get the gold or platinum American Express?

[@JakeBroe]

Hey Levi! The sign up bonuses for both cards are fantastic and you always get positive value in year 1. If you want to keep the card past year 1, that is up to you. I think no annual fee cards that earn you 3-5% cash back for grocery and dining are better long term options than the gold card. Just my opinion!

[@curmudgeonextraordinaire1884]

The only AMEX card that makes sense to me, is the Blue Cash Preferred Card. Just got it last week.

[@paulcaskey]

Combining the Skymiles Dining program (up to 5 miles per dollar spent at restaurants) with the AMEX dining credit might make it a better deal.

[@JakeBroe]

Yep, that's a good idea!

[@gottfriedj1647]

Hi Jake. Maybe they’re actually listening to customers. Because my Gold is being shipped by UPS next day air

[@JakeBroe]

Awesome! It took forever to get mine. It's a small cost but makes a big difference in the customer experience.

[@tg693]

I applied for my card on a Thursday, then I turned around and called Amex customer service and asked if I could get it sooner. The clerk said 'unfortunately I can't because I applied for it online, but she said she could send me a link in my email so I can track it' As soon as I clicked on the link, it said 'estimated delivery next day' I was like "HELL YEAH" lol

[@2_Sec_C]

great video Jake!

[@JakeBroe]

They dev! I appreciate the comment and support!

[@2_Sec_C]

Jake Broe could you justify the AMEX green at $150?

[@JakeBroe]

@@2_Sec_C , no I don't. I hate the $200 in credits the Green card gives you. Until those change, I don't recommend that card either.

[@2_Sec_C]

Jake Broe got it. Thanks for the advice. You now have yourself a new subscriber and I’ll share your videos with friend. 👍

[@JakeBroe]

@@2_Sec_C , Awesome! Thank you so much and welcome to the channel!

[@ARpirateant]

Subscribed. It’s only worth it (in my opinion) ifyou can get a retention offer. I’m going on my second year with the gold and got a 30k retention offer, call them up and tell them you are thinking of canceling cause you feel like you have to go out of your way of Régulo happy to use the credits . If I don’t get it again next year I will cancel

[@JakeBroe]

Welcome to the channel Alex! Glad to have you! Yeah, that's awesome you got a retention offer. It doesn't always happen.

[@anthonygardner400]

I think you’re off on several points. First, check out The Credit Shifu’s recent video on opportunity cost. Second, you make it sound like earning a solid return points and miles cards takes a rocket scientist. This has not been my experience. For some complex international travel, sure. But most people, including me, aren’t doing that, and I still find good value (and I have only been at this for one year). Third, a quick Google search of Wells Fargo business practices will reveal a highly unethical company. They will never get any of my business, regardless of their multipliers.

[@JakeBroe]

Yeah, credit shifu made that video 3 days after mine, so I wonder if he watched my video, lol. I have a video coming soon about what I call "the luxury trap" in using credit cards. There is a cash back opportunity cost to all point earning cards and as I will explain in the video, if you wouldn't spend the opportunity value amount in cash out of pocket, then you shouldn't be accumulating and spending points on aspiration and dream vacations you wouldn't be taking otherwise. That is just my personal philosophy and what I am going to recommend to the average viewer of my channel.

[@jkyletan]

Amex was offering me 35K points for $4K spend over 6 months. When I got the card, I called to activate and confirm the offer. They told me the bonus offer had been reduced to $4K over 3 months. I immediately filed a complaint and they said it would take 3 weeks. I asked if I could send over the screenshot of my offer and they said no. When I called back to find out the decision, they said the $4K in 3 months stands. The agent offered to reopen the case with my screenshot but it would take 6-8 weeks for a decision. What nonsense. Such a terrible experience.

[@JakeBroe]

That's terrible Josh! I think because of the pandemic there has been a lot of confusion and there was some extension offers on SUBs for 6 months... that's a bummer they wouldn't help you out. Best wishes hitting that spend!

[@anthonykence9954]

The Gold card back in 1995 was 75 a year AF.

[@JakeBroe]

Oh my! Inflation at work.

[@thiagocaproniny]

And had no benefits lol ... did it have 4x dinning and groceries? Nope ..

[@headlibrarian1996]

@@thiagocaproniny I don't think it had cash back at all back then.

[@dislife4me600]

Jake, do you know if the Amex Gold would earn the 4X at an on-base commissary? I generally spend around $850 to $1K per month on groceries, almost exclusively at my local commissary. If Amex recognizes the commissary as a grocery store, that would be quite a few MR points earned, and I would think should easily offset the annual fee, even before considering the other credits, etc. Your thoughts or suggestions would be greatly appreciated. Thanks!

[@JakeBroe]

Yep, the commissary earns 4x! I use my Gold card there.

[@dislife4me600]

@@JakeBroe great to know, thanks! I think it will be worth me going with the Gold, considering how much I spend on the main two categories each month, groceries and restaurants. Great MR potential. BTW, I am at Eglin, so I have just a few more Grubhub options too. lol

[@ctfighter]

DisLife4Me if you’re military you don’t pay an annual fee anyway

[@dislife4me600]

@@ctfighter I am retired, so unfortunately we are no longer exempted. At least to my knowledge.

[@GuamPhotography]

Quick question about the weight of the Amex Platinum, is that the Contactless ‘Tap to Pay’ version that you have ? Some say that version weighs less than the standard all metal card that has no antenna inside for the tap to pay feature.

[@JakeBroe]

I am not certain, my card is tap to pay and I believe all cards they issue now are unless to specifically request otherwise. I wouldn't know about a weight difference for the none tap to pay cards.

[@GuamPhotography]

Jake, thanks for the quick reply! Subscribed !!

[@JakeBroe]

@@GuamPhotography Awesome!

[@Alvin_1914]

I have a 'Vanilla" Platinum and 'Tap to Pay' Schwab Platinum. The Tap to Pay is lighter but I rarely carry the Platinum cards on a day to day so its not really and issue. They sit in the sock drawer until it is time to travel.