Why Is Everyone Canceling the Amex Platinum?

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[@bruceedwards3844]

There are 3 reasons why people are cancelling the Amex Platinum card after the first year: (1) $695 annual fee; (2) $695 annual fee; and (3) $695 annual fee.

[@De_Guatemala]

Credit card content creators benefit from referrals. That's reason #1 they push the card after year 1. The rest of us get little benefit.

[@drewbny78]

agreed. i think its messed up that they pushed the card, now they want to bash it

[@jakemercure]

Im kinda looking from your perspective too since I just started my youtube channel not that long ago. I agree its kinda weird we all create this drama it like pushes cards then. I dont blame the creators tho, its a built in incentive to the entire youtube game that is hard to pass up.

[@TerranceLee]

I appreciate your transparency. Much respect ✊🏾

[@williamfeliciano6003]

Bro is so chill

[@jakemercure]

Thanks boss

[@DavidRodriguez-ou9fy]

Dude....like....I mean...seriously...like...dude.

[@noname-to1wd]

The platinum carries the falsehood that it is the "best" AMEX card... "It has to be best, right?! It goes Green, Gold, Platinum durrr." The amount of non-credit card people that think this (including some who have the card!) is crazy.

[@jakemercure]

So true, and they use it to pay for dinner at 1x back haha

[@Rowdyyy_rod]

Everyone puts down the saks 5th credit but you could use it for birthday gifts.

[@JazzyMarineVet]

Transfering SUB & regular MR points @ 1.1CPP to the Schwab platnium/brokerage is fantastic. Then lounge, 5x travel, streaming(SirrusXM), walmart plus delivery, paramount plus, uber credits, concerieg, clear/TSA, on and on. I would keep the plat and let the gold go--especially if not offered a annual fee adjustment. Hoping they dont raise the AF on the plat in 2024

[@jakemercure]

Thats a great exit strategy, ill most likely follow your lead as i get through the credit card game. I really hope they dont raise the AF 😂

[@callmeNeno]

If Chase had a foodie card like the Gold, it’s all over for Amex~~

[@jakemercure]

They just need groceries and 4x back

[@chrisv4920]

I like my Amex duo for my life style: Gold and BBP

[@callmeNeno]

That’s what I am talking about

[@exclusivelymatt]

I think most of the discourse surrounding the Platinum comes three sources. 1. People who overinflate the importance of the card and think owning it gives prestige, only to realize most people don't care. 2. KZbinrs who get views and engagement from farming discourse, especially since it is one of the most talked about cards in the CC youtube space. 3. People who miscalculated the return they would get, or their travel/living changed and no longer get the max value. Personally, I have received tremendous value out of the card since ownership from spending I'd already do on a regular basis and the elevated experiences at a steep discount have been fantastic. Will see myself keeping the card, unless the benefits/AF change and no longer suit my lifestyle.

[@jayray202]

I broke my phone this past weekend and the insurance on the platinum is super simple!

[@jakemercure]

Thats nice, I need to start paying my bill now so i can get that insurance lol..

[@splatoon_octo]

​@rcure don't sleep on return protection (other cards have it). they will reimburse things that are beyond their return date (up to 90 days).

[@drewski91]

I'd rather deal with Amex customer service for my phone insurance than some company like Asurion. Amex customer service is king. I'd even pay a 3% premium for that security.@@jakemercure

[@eightysevenhtx]

I always say “You can’t regret it until you get it!” Lol, we’ll see how much use I can get out of the platinum before I make a decision. I like it so far and it’s been my everyday card. I just wish the offers were better like the golds are.

[@jakemercure]

Is the 150k offer no good enough? haha or are you talking about the amex offers. I always forget to check those

[@eightysevenhtx]

@@jakemercureyeah bad I meant the Amex app offers lol. I wish they would have some other ones. Meanwhile the sign up 150k bonus is the reason I also got it haha.

[@jakemercure]

I gotta check those, I never activate them loll. Nice to know Gold has better offers tho

[@mark-christianreid1661]

Hey dude. I just want to say that I'm into the credit card game and I watch a lot of these videos and I watch all the heavy hitters. I've been struggling for a long time with whether or not to get the MX Platinum because of two reasons. I already have the venturex and the coupon book nature of the Platinum just isn't something where I would use those credits. And everyone talks up the platinum so hard and I've been struggling psychologically for the past month to justify and I just can't when the ventrax already takes care of so many of my needs and it's break even without even trying. And I really just like how you approach the whole thing. It just seemed like it was no BS and it was super legit. I appreciate your style. I'm not young like you and I've got a house and I've got two kids and am going to try out the gold but that's only cuz I think that I'm going to have a high food budget. But all the concerns that I've had as I try to figure out how to reject my whole credit card game... You basically just voiced them in this video. Good job!

[@jakemercure]

Hey man, I'm glad you like the videos! I try my best to be honesty and clear as possible to people. I really like the Plat but would probably be closer to just breaking even with referrals, that said, I think I would still keep it just for the Centurion lounge access. Its that good and I really like going. It all depends of if you think the working the credits is worth it, but then again, you can just get the 150k sub for year 1 and try it out. Just cancel year 2 if not a good fit.

[@rickynguyen3655]

Hey Jake! Loving your style of content! I wanted to ask what camera and lens do you use? The quality is amazing

[@jakemercure]

ZVe-10 and a sigma 16mm lens! Thank you!

[@Nluvwitmanuel]

Bottom line. If you can't afford the card don't get it. When you finish getting the bonus points and realize you can't afford it just get rid of it. Nobody is forcing anyone to get it. I have it. I can afford it. I like having it and I have no immediate plans to get rid of it. I don't churn and I use a lot of the benefits. All this said, I still enjoy people bitching about it.😂😂

[@CitizenZero1]

I know what you mean about the lounges at SeaTac. I’m a Tacoma resident!

[@jakemercure]

Hello fellow PNWer, SeaTac centurion lounge is really nice

[@JakeVanderPloeg]

Quality content per usual. I’ve gotta ask though have you ever tried snowboarding?

[@jakemercure]

Nope, i think it could be cool. Im scared of faceplanting tho haha

[@NigeloWalker]

Tbh I just keep the card to feel like a baller😎

[@diettea]

What happens if amex cancels your platinum card

[@callmeNeno]

Need that MR pts booked a flight to and from Philippines

[@TheZombaslaya]

Honestly debating either getting this for the SUB or holding off for the Altitude Reserve. I do want to surprise my parents and fly both of them business class somewhere in Europe all on points, but I do want that AR card.

[@TheZombaslaya]

Also if I ever get the Bilt card i'll use your link!

[@tarrius1210]

Finally, a gooood honest take about the Amex gold etc. I’m going for the sign up bonuses.

[@Ctboosts]

Mind explaining the double dip? Does it really make a difference or are you just getting both semi annual credits closer together?

[@jakemercure]

All the credits are calendar year based so you can use them all up right away in December then get them again for January. Uber ($25 in dec), Saks and Fine Hotels + Resorts were credits I used twice if that makes sense.

[@SpartanOfFinance]

They send me a 150k offer almost every month but I still don’t have Gold so that’s a no go for now.

[@jakemercure]

Yep gotta get Gold 90k first, or maybe Green too if you are feeling frisky

[@George-fy7tt]

A Visa or Mc is much more practical and accepted everywhere. AX is not accepted in Europe very much unless you stay at expensive places. 10:07 Look and Chases & Citi Banks Cards.

[@jakemercure]

True, I mostly use euro coins too when Im buying espresso and small food stuff

[@Xavier_ID.]

8:38 don’t hate the player… hate the game 😂

[@jakemercure]

True

[@kbd777]

I got the plat just for the 150k, I mean I’m probably paying 150 effective annual fee subtracting certain credits. Hopefully the Amex offers pickup. I’ll probably cancel at the 366 day. Keep my gold card. Who needs all the perks? I’m spending my money anyway on all these credits why not spend it the plat for 1 year then on a no af card like the autograph with great multipliers and perks next year. Hopefully transfer partners soon.

[@Ralph_Kreutzberger-Blumenfeld]

The platinum, gold, and blue cash preferred have been stripped of many benefits or credit incentives. I get why Amex is doing it... credit cards are so mainstream now and with people coaching others to pay them in full, the banks are no longer making much money on interest.

[@DavidRodriguez-ou9fy]

So you are using your viewers and subscribers to get them to use your link to benefit you alone. Grifting??? Is that the message you want to send?

[@drewbny78]

at least he's being upfront about it

[@SniperinShadow]

Just making sure that you sure reading these comments. I am a Chase Sapphire Reserve bad boy, so i dont rock with American Express. Because my goal is to have my spend focused on one premier credit card. If you try to get them all you will not break even.

[@jakemercure]

Of course, I read all the comments. I like your strategy, I think CSR is sick and has awesome all around use. Especially with 1.5 CPP and 3x dining.