ONE THING THAT PEOPLE DON'T TALK ABOUT: OPPORTUNITY COST OF HAVING AMERICAN EXPRESS CARDS

You want an Amex card? You have to fork over the entire annual fee right away. You will get credits to reduce that annual fee, but those credits can only be used on a month-to-month basis. There is an opportunity cost for that. In this video, I provide a very SIMPLISTIC math example of how much potential money is lost when holding an Amex card.
All of my travels will use my OWN money, OWN points, and OWN miles. I do not use points/miles/money earned from any referrals. I have zero referrals. I also do not use any so-called "player 2" cards.
I will not have any of the following in the description or in any of my videos:
1) No credit card referral links;
2) No sponsorships;
3) No referencing credit card management applications;
4) No recommendations of any shopping portals where I receive a kickback;
5) No funny or confused faces in the thumbnail of my video; and
6) No asking anyone to like and subscribe to my videos, although I hope that you do so.
#americanexpress #capitalone #chasebank #platinumcard

[@Gavanater7]

I get the value for free because I'm military and don't have to pay annual fee so this isn't applicable to me

[@PingPingTravel]

Sounds great. There are exceptions to every rule! I believe that you can also get the CSR and VX the same way.

[@Scarmans]

This is interesting. Not a lot of people analyse credit cards like this. Great content!

[@PingPingTravel]

Glad that you think so! Happy to provide another perspective on the wild world of credit cards, especially the premium ones.

[@InvestingBookSummaries]

I get the idea and that is true about opportunity cost. But even with that upfront fee accounted for with opportunity cost it’s still worth it for people who were going to spend that money anyways. Especially with per diem jobs buying flights and hotels on your own card and getting reimbursed from your job. Or just people who travel a lot on high incomes. But yes worth discussing.

[@PingPingTravel]

Oh, yes. I totally agree. Worth it for some people. I just like to discuss that it is a bit more complicated than X < Y.

[@jimmyjames6492]

Thanks for the info + video!

[@PingPingTravel]

Very welcome. Glad to provide a different insight to all what is said online.

[@edwardibarra7858]

What's your take on the current Capital One Venture CC offer? They are offering $250 travel credit for the first year

[@PingPingTravel]

Good question. It is well worth the fee if you have a lot of non-category spend like myself. It is one of the select few cards in the world that provides 2% back on anything and with transfer partners. Combine that with no foreign transaction fee (very few cards have this) and unlimited 2% earnings (unlike the Amex Blue Business Plus), then it is #1.

[@PingPingTravel]

Also, I tried re-applying for this card recently to no success. CapitalOne is very finicky with their approval process. I made a video about this earlier.