Understanding the New American Express Gold Card - Amex's Plan is Working!!

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[@rafaelsb83]

It takes work to use the credits. Some of the time I get gift cards so I can give them out during Christmas

[@jpknowledge8852]

That's smart. If the credits aren't useful for you, give them to someone who they are useful for 👏🏾

[@chadpennycuff]

I love the credits. I love going to Resy restaurants. (I never ever go out to eat without a coupon, chase offer, etc - never pay retail - that's my motto. When money has to be spent - there's always a deal to be had. It's a lifestyle and a hobby.) I'm getting a 3rd Delta card just for the coupons and instant silver status. Many many many KZbinrs dunk on this just use the credits to break even and I'm good with it - I don't use the cards beyond the coupons and still get plenty value - plenty of great dining, experiences, and joy in life.

[@jpknowledge8852]

I'm happy for you if you're are finding value in the credits. The credits can give value, but they also take effort, whether it is just remembering before they expire, or researching the best ways to use them. I just wonder if we removed the "credit card gaming" aspect from these credits, how many people would honestly try to take advantage of the different credits? My feeling is, while some would most others wouldn't.

[@LK_EBM]

Why don't you just take the $325 that you pay for your AF and just use that to pay for food directly? You're indirectly paying for things through these "coupons"

[@chadpennycuff]

@@LK_EBM I get more way more value than the AF. The math maths plus it's fun (more value). People forget this is a hobby! Squeezing an extra nickel out the banks along the way is just as much fun as the free-ish travel using the points. I will renew in September for $250 and got $440ish in credits coming plus points, offers, etc. Same thing happened with Delta cards this year. Every other year in the future, I'll get a retention offer that doesn't screw with 5/24 or credit reports. I added an AU card and put the credit spend on that plus a little extra, and boom, a 10k mini offer. You earn MR points on spending when you get the credits, too. All these people bitching about Dunkin - load the card for $7 - you'll get an extra 28 MR points even if you never spend the money (which I don't eat there or drink coffee, but I'll gladly pick up coffee and donuts and be the office hero one day on my way into work if I have saved up Dunkin dollars to burn). The free Uber One from C1 - you get 7% back in Uber One credit on the $25 monthly from Amex Uber credits. I do like Uber One and will probably pay yearly come Nov 14th. Occasionally, an Amex Offer is another bonus coupon adding even more value. If you have a hobby that's fun and slightly cash flow positive - why the hell not? People have other hobbies they blindly dump piles of money into. My hobbies are pretty much all cash-flow positive. I hit STK Orlando on a weekday lunch special - $9.95 for a Wagu burger and fries - bill was just over $20 and I used a $20 resy credit on the Delta Reserve card. Resy never intended for you to get the special; spend 95 cents over the credit amount, and run. I get personal joy from finding loopholes and working the system like this - the same way a stamp collector enjoys getting a new stamp.

[@chadpennycuff]

@@jpknowledge8852 One man's mental effort is another man's challenge and joy! We all see things and value things differently. There's room at the table for everybody to play the game their own way.

[@M2K-01]

This is exactly why I canceled my amex gold card. Too many hoops to jump through and I do a lot of grocery shopping at costco which didn't take it.

[@jpknowledge8852]

Costco has such good deals. If you have one near you, there is no reason to keep the Amex gold

[@kmb6916]

I agree, i just renewed my AF back in May before the revamp. However, next year my AF will renew at 325. Im gonna ask for a retention offer and if i don't get one or don't get a decent one, I'll probably cancel.

[@jpknowledge8852]

I'm in the same boat. If I don't get a retention offer again next year, this card will be canceled ✂️💳

[@kmb6916]

@@jpknowledge8852 I've only gotten retention offers every other year.

[@yer992]

Great video!

[@jpknowledge8852]

Thanks!!

[@nubianpwr]

Great and provocative commentary JP!👍🏾 Amex's plan is working. I gave up my Gold card this month for the Savor One in order to combine it with my Venture X. This must be what they wanted😅

[@jpknowledge8852]

You did the right thing! I've wanted to do the same, but Capital One won't let me product change my older Quicksilver to a Savor One 😒

[@Xavier_ID.]

I like the changes as it gives the users more money back than the AF. But I agree with you that it gets annoying trying to make sure I use all the credits every month.

[@jpknowledge8852]

Getting more value than the annual fee is nice, but would any of us be putting in this work for these very low value credits if we separated it from the "credit card game"? My feeling is that a lot less would care about these credits in any other situation.

[@Xavier_ID.]

@@jpknowledge8852 I agree with you 100%

[@JuanGarcia-hr1wf]

Nice video JP. A $75 AF increase to be offset by $7 monthly Dunkin credits plus Resy credit is not a good enough value prop to keep unless I am a foodie. Too many options out there at 3x that covers daily multipliers like dining and groceries at a less out of pocket AF. Example: Citi Strata Premier

[@jpknowledge8852]

Exactly! Or even Savor One with No annual fee.

[@LukesPointsandMiles]

Great video, JP! I don’t know one single person that would give you $75 for $7 a month credit at Dunkin. Not one. But 4x is 4x. Haha

[@jpknowledge8852]

Lol, neither do I. If we remove the "credit card gaming" aspect from it, we realize just how ridiculous it is to put effort into getting something that we didn't want to begin with.

[@LukesPointsandMiles]

@@jpknowledge8852 preach. But the game is sometimes fun!

[@jpknowledge8852]

It is. But it also makes us do silly things sometimes 😂

[@VattanaThach]

That dolphin 🐬 sound was loud ASF compared to your talking level. Scared the crap out of me. I listen to your vids on my headphones while I drive around during work lol

[@jpknowledge8852]

Haha, my bad!! I didn't realize how loud it was. I'll make sure next time to have it more leveled 😅

[@tybilton2029]

@@VattanaThach 💯

[@jimmyjames6492]

Their plan is working on getting me to CANCEL the AMEX Gold 🤣🤣🤣 Thanks for the info + video!

[@jpknowledge8852]

@@jimmyjames6492 hahaha!

[@fwoodbridge]

Please, please do! More for the rest of us.

[@andreeldridge8457]

Your first point is the biggest point. Points & miles people want everything to be so easy. They don’t want to work for anything. AMEX is a business!! They want a huge SUB, high multipliers and easy credits ALL with a low annual fee. Just so they can put the card in a sock drawer. There’s no perspective. Amex ain’t a multi billion dollar company for nothing.

[@jpknowledge8852]

Lol, exactly. A lot of people forget to look at it from the banks side and only think what they want. But if they got what they want, the business that they got it from would no longer exist.

[@LK_EBM]

People who like these credits either make $$$, undervalue their time, or only have 1 credit card to manage

[@jpknowledge8852]

Perfectly said 👏🏾

[@tybilton2029]

JP! Thank you for saying what everyone (including me) is thinking, but is in denial 😂

[@jpknowledge8852]

😂 Amex has great marketing! They make us do things that don't make a ton of sense

[@tybilton2029]

@@jpknowledge8852 Yup! Especially, while those Centurion Lounges are so crowded... 🤣

[@travelingwith_lv9917]

It’s still a cancel for me next year imo. I was lucky and got a retention offer at the lower rate this year so it works out. But with the new annual fee I don’t think it’s worth it especially since I’m always trying to get new sign up bonuses.

[@jpknowledge8852]

I agree. Although the multipliers are high, it is hard to justify now, especially if you like to work on other welcome offers throughout the year.

[@soapa4279]

I honestly hate the credits.

[@jpknowledge8852]

Haha, I don't have them, but I also don't think they are worth the effort.

[@MyNameJim]

The new Amex Gold is the best card.

[@jpknowledge8852]

You're fortunate that the updates worked out in your favor.

[@fwoodbridge]

You sound like a whiner. The point is, if you're into the points and miles gain, you're going to be making a lot of effort to use those points. You're already the kind of person who will work to extract as much value from your points and miles than most people. There's no difference with these American Express cards.

[@jpknowledge8852]

There is significantly more effort with American Express cards as compared to any other card issuer. I have more Chase cards than I have Amex, yet with Chase, I don't have to think about having to come up with tricks each month so that I dont "lose money" from having their cards. I don't have an issue with what American Express is doing. It is smart by them to add these obstacles for them to maximize profits.

[@fwoodbridge]

​@@jpknowledge8852 "Tricks" 🙄 Spare me the melodrama. It's called playing the points & miles game, which is what your entire channel is all about.