DON'T Get Premium Credit Cards (UNLESS You Can Handle 5 Things!)

[@MattWelterOfficial]

What are your thoughts on Premium Credit Cards? ⬇

[@Adiscretefirm]

If $700 matters to you, Amex is not seeking your business

[@MattWelterOfficial]

Fair point! Amex definitely is designed at appealing to higher income individuals for sure!

[@carlosleshawn]

My sentiments exactly

[@newagain9964]

Well….not for the plat. But they do have other cards u know.

[@MattWelterOfficial]

Also keep in mind that a lot of people have thousands of dollars in annual fees and multiple Premium Cards across their setups

[@Adiscretefirm]

@@newagain9964 I am pretty sure that applies to Brilliant, Delta Reserve, Gold and some others as well, if $700 is an appreciable part of your monthly, you aren't their target. Those other cards are just to get you in and move you up

[@Lifeissorich.]

Hertz Presidential Status was always expected to end. These partnerships are revolving doors in this space.

[@MattWelterOfficial]

I agree- which is part of the frustration for sure. Appreciate you watching!

[@jimmyjames6492]

Thanks for the info + video!!!

[@MattWelterOfficial]

Thanks for watching Jimmy!

[@soapa4279]

A lot of the reasons to carry a premium card is the value you get not just in $. Things like higher coverage for purchase protections, trip protections, primary car rental cdw, lounge access, hotel statuses, car rental statuses, etc.

[@MattWelterOfficial]

I completely agree! I still think it’s important to assign a $ value even to those intangible benefits to make sure the value is still offsetting the fee. Appreciate you watching!

[@terevagailes1146]

Another great video!! I have the Venture X and Savor One. I absolutely love this setup. Its simple and easy to justify. I have no intention of ever getting any AMEX or Chase cards. No trifectas or "couponing" for me.

[@MattWelterOfficial]

Thank you so much! The Capital One Duo is a great simple get valuable setup!

[@newagain9964]

I guess if u like flying domestic or getting underwhelming partner seat redemptions on domestic flights. Sure.

[@johnkim163]

Amex Gold = MR on dining & restaurants which is quite good. Would love to hear a discussion vs 5% cashback.

[@MattWelterOfficial]

Noted! Thanks John!

[@MontyTheCardNerd]

Those Amex credits constantly make me challenge my notion of organic value ... like I would've never shopped at Saks if not for the credit, but what I get usually ends up being useful so I guess it's organic? Anyway very informative stuff Matt!

[@MattWelterOfficial]

That’s super fair Monty, I think the same way! Appreciate you watching!

[@fogrunr5075]

Ohh Greeeaat... The two premium cards in the thumbnail are the two that I have😂😂😂

[@MattWelterOfficial]

😂😂appreciate you watching!

[@ItsEricSmart]

TBH This Video is mostly about Amex & There Cards.... 1. The spend has to do with self-control, & Yes, Amex Is An Expensive Coupon Book With There "CREDITS" 2. Agree changes are being made alot! 3. Agree multipliers should be higher or more categories.... 4. US Bank & Chase Is Very Easy To Maximize.... 5. Competition makes things cheaper. Imagine if Amex platinum was the only card with lounge acces, the AF would 1K by now... 😅

[@MattWelterOfficial]

Yeah very fair Eric! Obviously a lot of the changes and the high annual fees, maximizing credits, etc comes down to Amex. But totally agree! Competition is great for all of us and the Citi & Wells Fargo offerings definitely help with that. Appreciate you watching!

[@dyhppyx]

So true

[@MattWelterOfficial]

Appreciate you watching!

[@Dereece10]

Go Seahawks! 🏈 💙💚

[@MattWelterOfficial]

Go hawks!! Appreciate you my man!

[@docsays]

I think most people that hold luxury credit cards ( i mean keep them not just for the sub) value all the benefits that come with them & chances are they don’t care or mind the AFs & aren’t bothered if they use the credits or not. Just sayin

[@MattWelterOfficial]

Yeah completely understand that. My argument is the difficulty of maximizing every Credit, especially when some don’t fit organic spending habits. In general, premium credit cards only make sense when every benefit (including intangible ones) are valued and that value outpaces the annual fees. In general the actual annual fee doesn’t matter as much as (the overall value of benefits - annual fee). Appreciate you watching!

[@Leoprieto74]

Damn,.. I have all five of those premium cards 🤓

[@MattWelterOfficial]

Haha all about just taking a look at both sides to the argument! Appreciate you watching!

[@ItsMeCJ]

First 👀

[@MattWelterOfficial]

Close! 🥈

[@SOXGATORS]

👍🏻

[@MattWelterOfficial]

🥇