Amex Gold - Not Ideal For Most

[@De_Guatemala]

Referral bonuses make almost every credit card worthwhile for content creators. For the rest of us, sign up bonuses are key. Even at 5%, multipliers don't move the needle that much.

[@jakemercure]

I’m really hung up on that. When I was a viewer last year, I had no clue what went on behind the scenes. Now I’m happy to let you all know

[@wushadnin7294]

Yup. Thats why the venture x gets promoted so much, for that huge 25,000 referral bonus

[@Jiggy609]

Yeah at the end of the day, MOST people should just have a cashback setup (even better if you invest your cash back)

[@JazzyMarineVet]

I am a secret shopper/Mystery Shopper and I do a boat load of dining out in a paid capicity, as a food critic/auditor. I have done $400-$600 fine dining at at casinos, Mortons or Ruth Chris.... all the way to Mellow Mushroom, Texas Roadhouse, Sonic and Subway. I am "killing it" with the 4x on dining, I get to double dip- I pay for the meal and submit my expense report to the company and get 100% reimbursed. Then I pile up the 4x on meals. The Gold is worth it for me...

[@jakemercure]

That’s so cool you are a food critic! Even cooler you get 4x back on all that spending! You are killing it

[@AccountantsAnonomous]

How do we get in on this secret shopper job haha

[@Brianpeckin]

You can also look at it this way which I do. I mean I can be wrong but you're going to buy that burrito at least once a month. You're basically paying $3 for a burrito. Supposed to paying $12 as you said if you go pick it up yourself so really you're paying if they take Uber eats and probably and you basically get two burritos over there for around $6

[@FatStacksAcademy]

So glad I found this video. I was about to switch my grocery spending from my gold to the custom cash. But I don’t want any cashier seeing that I’m using a card that doesn’t have that DAWG in it! 😂

[@jakemercure]

Its hard to go from being a baller to using a plastic Citi card ahha. Apple pay is your friend in this case 🤝😂

[@Plazali]

@@jakemercureApple Pay is my friend is ANY case tbh ,unless I’m trying to purchase my $13 usual burrito Side note: Did you know Apple Pay can store insurance cards??

[@DavidGarciajrtx]

Personally spend around $2k on groceries and $1k on dining it’s worth it for me. But I do prefer chase points more because of southwest and hyatt

[@newagain9964]

You’d be better way better off getting a $0 AF chase card than amex gold. That 4x really blows ur mind.

[@jakemercure]

Thats awesome, you are the perfect Amex Gold customer

[@kura_bot]

14:17 It doesn't really make sense to me outside of SUBs, referrals, and upgrade bonuses these numbers are generous too imo, you can't even actually cash out MR points for 1 cent each with just the gold It isn't just a "get" to use it for travel, you basically have to use it for travel, these cards have other extra costs and fees added on when you do that, similar to how the burrito you order also has added extra costs when trying to extract value from the credits if you weren't going to travel anyway without the MR points then imo the total cost of the trip should play a bigger role in factoring their actual value, not just the price of the ticket or the hotel room

[@newagain9964]

Agreed. Ppl in comments really beating their just about a card with high AF and hidden costs. 😂. I only care for cards for subs.

[@tarrius1210]

I’m going two custom cash cards. Only going for the 90k sign up Amex gold bonus and canceling after the first year or so.

[@tarrius1210]

@@newagain9964yep, just the sub. Two to three custom cash cards will defeat the Amex gold for me>

[@jakemercure]

Yeah you guys are right. I was gonna make a SUBS vs multipliers video to show everyone how litte multiplers matter but i forgor

[@tarrius1210]

@@jakemercure My aim is 5% on everything bare minimum. So far I have the Ink cash, Amazon prime, and later I’m going for the custom cash cards once my inquiries go below 4-5.

[@isaiahlaufenberg]

This truly confirmed my decision to cancel after year 1. the 90k was huge for me though

[@nbthirtytwo]

The gold card is the perfect card for my family. The 4X on groceries & restaurants are the key. With a player 2 it makes things simple. The credits are easy to use for food pick up to lower effective annual fee. My most used card.

[@jakemercure]

Thats awesome, Im glad you make it work well. I forgot that having a second person to spend money makes a big difference hahah

[@JoseMarzanJr]

Yup. Teenagers stomachs are bottomless pits. I practically live at the supermarket.

[@kudude12many]

Thanks Andy

[@jakemercure]

No problem kudude12

[@scarling9367]

I like that the gold (all MR cards though) gives automatic access to transfer partners. If i could get x3 on hotels instead of the x2, this woud be a no brainer.

[@jakemercure]

Great point, you don't need anything else to get transfer partners. It just works

[@JB-pk1jx]

The gold was worth it during the 90k MR plus $200 statement credit offer. $50 annual fee for 90k MR for first year cannot be beat.

[@jakemercure]

I also got that offer too, such a great deal!

[@SpartanOfFinance]

We spend 400/month on restaurants and 1200 on groceries with about 400 of that in warehouse clubs. The card would be ok for me. Right now I use the USBAR for most of that.

[@jakemercure]

I still really want the USBAR, that is such a great card. And its Visa for Costco! Thanks for commenting

[@geraldalves9107]

What you described for the Amex Gold is also true when it comes to most travel cards in general. Take the Preferred as an example. An elevated 80k is sweet but once you hit the SUB, then the card used as a daily earner is trash. I hit the SUB for the Preferred at the end of January and have barely used the card since outside of some Door Dash orders. Then once you've churned most of the of the Chase SUBs, you're left with the question of whether keeping a card that's a $95 annual fee is a losing proposition or not. Even with the Chase trifecta, how many points realistically can you truly generate per year if you're a frugal spender? Makes me think that long term, it's better to have a go-to setup that works for your everyday spending whether that's a cash back or travel setup and just stick with it because there will come a day where you're going to hit practically every SUB and then once you do, then what?

[@ChristianTroy02]

Jake love the video bro - but where some people clean up is buying gift cards at the grocery store…..buy a Amazon card every time you shop

[@jakemercure]

Thats could be a good way to earn extra points!

[@ChristianTroy02]

Yeah for the incredibly point hungry they buy Amazon gift cards and get 4x in everything they buy at Amazon. That’ll allow you to really rack up the points. I agree with you though….at its value Amex can be a tough sell for me over chase. I do love Amex tho….and yes the luxury and status of Amex plays a role for me haha

[@JakeVanderPloeg]

This really puts in perspective the argument of SUBs vs Multipliers. My one buddy exclusively uses a custom cash and is upset that he doesn’t earn points super fast lol. Great video bro!

[@jakemercure]

Multipliers vs SUBS, i gotta make the video soon. Thanks for watching as always Jake

[@JakeVanderPloeg]

@@jakemercure 🔥 video incoming

[@TheZombaslaya]

You make some great points, I actually got the BBP last night as a fall back MR points card because I can see myself canceling the Gold in the future. Not a bad card, I like that 90k offer, but if I move jobs to one where there's no shake shack down the street then I'll just rock the Savor One. Funny thing is Amex clearly likes me because they gave me a 25k credit limit on the BBP. RIP CJ.

[@jakemercure]

Thats a good strategy, always nice to have an anchor card. 90k was really nice, but i think i might leave after i use the points. We will see what happens. HAh CJ will be mad, dude cant get a break from Amex biz cards lol

[@GrantPalagonia]

I actually have been having this convo as my annual fee hits tomorrow and I’m really considering letting go of my favorite card. I love my gold card but when I have really thought about it I’m just not sure it’s worth the value as I get my groceries mostly online or with Kroger pay so that 4x isn’t that much different than my 3x I can already get. I love the Bilt card and I can use that as a 3x dinning with no annual fee so overall it may just make more sense to either downgrade or cancel my gold within the next month.

[@jakemercure]

Im realizing that its could be okay to just keep it because its cool. Numbers are important but you might miss the card after you cancel it if you do. I think the kroger card is pretty good, and you could use that too, but im not sure it can fully replace the Amex Gold

[@GrantPalagonia]

@@jakemercure I can use the CSP for my groceries instead. I’ll probably not miss the card if I do downgrade it but I have a lot of use right now for the green card with how I travel for work so it might actually work out for me lol

[@Jiggy609]

I’m canceling mine. Gonna use Bilt to rack up AA miles and either gonna churn Chase cards or take a longshot and apply for the US Bank Alt Reserve

[@GrantPalagonia]

@@Jiggy609 I def want to start using BILT more but man do I love my Amex MR points

[@sweetbobbyrey]

So you’re saying for the average person C1S1 > AMEX Gold?

[@fuge511]

I pay and deliver other peoples groceries and get reimbursed so the gold makes a lot of sense for me! Plus using the 2 monthly credits is zero work for me. I guess I got lucky lol…

[@jakemercure]

Thats awesome, I used to do instacart delivery and sometime I would sneak a large purchase on my personal card and get it reimbursed. Earned points on groceries that way haha

[@Jiggy609]

Doesn’t instacart charge the customer directly? How can you pay on your own card?

[@JonsCreditAndTravel]

Im sure you know my stance on the Gold card Jake but just in case you havent watched that video, Im a single guy in a midwest metropolitan area that gets great use from the Gold. The credits are super easy and its the only card that gets me above 1X on groceries at where I buy groceries because Chase, Citi, etc dont recognize my grocery store as a grocery store although it codes as a grocery store. Hands down the Gold card is the best option.

[@jakemercure]

Hey Jon, I just found your channel, I also assume this is the same Jon on all the live streams and Venture Capital discord haha. Im glad you can get great use from the Amex Gold, I wish it were the case for me but I dont spend enough.

[@JonsCreditAndTravel]

What up Jake!!! Good day to you sir. I am the same Jon indeed 🙂. Im glad you found my channel. I dont spend a ton on it (between groceries and dining out...about $600-$700 a month) but for where I use it at, it gives me the most utility.

[@callmeNeno]

I will keep the Gold for two years ; don’t want to be in Amex jail after getting 90k bonus this year. I like the fact that in NYC 🗽 lots of Bodegas corner stores code groceries which my life easier instead of using a catch all 2% credit card.

[@jakemercure]

Nothin like a baconegg&cheese at your local bodega on a Saturday morning with the amex gold. Works for me too 4x back

[@tristiansilva9638]

I'm one of those health people that spend a lot of money of food in groceries and restaurants in NYC. But if I were to ever move out and and it would be a pita to use the credits I wouldn't have the card. Also for some reason I've been to a bunch of restaurants in BK that only take Amex and I hated losing out by using the platty.

[@jakemercure]

Right, same here. I think i spend a decent amount and there are plenty of options for using the credits here in NYC.

[@Nick-1828]

Amex has always and will always be for the higher spenders. I’m far from that so that’s why I avoid their cards 🤣

[@jakemercure]

Very true, I guess its cool that the table lead us to this conclusion

[@mrpotatoooooo]

Hey, it’s Ben Hedges!

[@jakemercure]

Whats up guys credit shifu here, lol kidding. Ben is awesome

[@ser9860]

When you say it’s not worth “all that work”. What work are you implying to? It’s just a card we use to pay things with. Just not sure I’m understanding.

[@jakemercure]

Monthly credits you have to use to break even on the annual fee

[@ser9860]

@@jakemercuregotcha

[@FernsFrugalPointsFinances]

i got the amex gold a few months ago thinking it would be my grocery and dining card but right now I use the freedom flex for groceries cuz of 5x bonus and been using sapphire reserved for dining cuz I prefer Chase points lol

[@jakemercure]

Freedom Flex for your first year is a good move, I also am low on chase points too so Im using my CSR for dining now!

[@chadpennycuff]

Amex Gold - you keep it for two reasons - 1) it's a cool card to use from an emotional benefits scenario - same for Platty vs VX or CSR. I enjoy spending on the metal amex cards but not so much on a Savor. 2) You keep it because you want to farm MR points. Other than these two items, it's not a keeper card.

[@jakemercure]

Yep I agree, Its cool to have, I can spend my money on things that are cool too even if they dont make sense all the way. I guess I can look at the AF like a cool thing I want to have ahah. They are really winning but its okay.

[@chadpennycuff]

@@jakemercure No different than Apple Watch Ultra, wearing air jordan shoes, mont blanc pens, cost to rock a status symbol is an emotional investment. If you're happy - you're winning bro. Once I'm done done done with Amex - I'll cancel it. Until then.I'm happy with it.

[@shawn.credit]

I downgraded my Amex Gold to the Amex Green, I have a few other cards bringing in grocery rewards for $0-$95 AF.

[@jakemercure]

Understandable, you could always re upgrade too, better than canceling

[@shawn.credit]

@@jakemercure Agree, I also added the Amex Platinum so needed to make room for that AF the Amex Green and Amex Platinum are a solid duo!

[@TheZombaslaya]

Trader Joes slaps!

[@jakemercure]

I love it

[@AccountantsAnonomous]

Trader Joe’s next month with the chica gorda

[@AccountantsAnonomous]

Trader Joe’s next month with the Chica Gorda

[@SpartanOfFinance]

Today on Jake’s rants. I love it.

[@ModernMoneyHabits]

Had the Green = Cancelled. Had The Gold = Cancelled. Had the Platinum = Cancelled Last Month. Downgraded the Aspire and Delta Platinum to the No AF versions. Working on a new plan for trips and free rooms. 😜

[@jakemercure]

Dang, we got an amex killer here! haha. thats nice you found value in other cards like Aspire

[@Rfpepe7295]

I’d love you to do the same type of video using the Amex Platinum

[@jakemercure]

Will do! I think it helps a ton

[@SHFMIA]

I usually agree with your videos. But completely disagree with this one. Amex Gold is a great card. It may not be right for you.

[@jakemercure]

Thats the point, you gotta spend a lot to make it worth. I dont really spend enough.

[@Jiggy609]

It’s great earner thats only worth it if you are into booking award travel via partner/alliance airlines. If you’re not it’s pointless

[@SHFMIA]

@@Jiggy609 This is the objective. If this doesn't match your needs, consider a cash-back card.

[@Jiggy609]

@@SHFMIA yeah but the problem is all the YT creators push it as a must have card and it’s simply not for alot of people. I know plenty of people who have it and have no clue how to even transfer points

[@SHFMIA]

@@Jiggy609 you're right. Most people should stick with cash-back cards.

[@YumDex]

It takes 2+ cards to dethrone the gold card, nobody is trying to worry about using 2+ cards to equate 1.

[@newagain9964]

Wrong. One card is all I need

[@tarrius1210]

My chase ink cash alone crushes the gold.

[@jakemercure]

Yeah I think you could do it with 1, preferably working on a SUB instead of focusing on multipliers

[@Xavier_ID.]

The real key I feel is how low can you get your effective annual fee and how long until you get tired of the credits 😂You get it down to $10 with the gold it’s worth it.

[@jakemercure]

$10 is awesome, Im working on getting that low

[@Xavier_ID.]

@@jakemercure never stop never stoppin

[@luisserrano863]

Good analysis, I was literally asking myself this question today. What are your thoughts on Amex Green vs Gold?

[@LK_EBM]

You gotta do the math yourself. How much do you spend in the categories? How do you value the "coupons" that each card has?

[@jakemercure]

Math is important, but gold card looks shinny too

[@getsugatenshoFTW]

That's exactly why I have 2 Custom Cashes heheh

[@jakemercure]

Good idea, i still dont know how you can get 2 but thats sick

[@_iErik]

You can get your first one straight-out. The second one comes from getting any other Citi card (the Premier and the Double Cash are good options), keeping for a year, then product changing to a Custom Cash.