Why Wealthy Americans Love AmEx

Armed with impressive rewards and a loyal customer base, Amex has achieved impressive growth over the years. The company’s revenue has increased over 32% since 2017 and shares of the company have shown resilience and growth in a tumultuous market. Yet Amex is far from dominating the credit card industry compared to the likes of Visa and Mastercard. So what is the secret to Amex’s success and where is it headed next? Watch the video to find out.
Produced by: Nathaniel Lee
Editor: Nora Rappaport
Supervising Producer: Lindsey Jacobson
Graphics: Alex Wood, Jason Reginato
Clarification: The card displayed at 6:03 should be the AmEx Platinum card, not the AmEx Delta Skymiles Platinum card.
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Why Wealthy Americans Love AmEx

[@ShengLiang]

My favorite part of AMEX is... when you pay your bill, they immediately take it off your balance as if saying 'we know you're good for it'.

[@Gumden]

What do you mean by this?

[@tannerparker789]

I love that feature too

[@plasticstuff69]

@@Gumden you don’t have to wait 2 days for ach to clear

[@Gumden]

@@plasticstuff69 ah ok, believe that is a U.S only thing.

[@alecbivens9845]

this is one of my favorite amex things

[@ThePiranhamarketing]

I once found a wallet on the ground. Upon checking the wallet I found a chase, discover card. I called the customer service numbers on the back to try to see if they would connect me to the owner and they were not helpful at all. Luckily they also had an Amex card customer service called the owner and we were able to meet up with in 10 minutes. Been an AmEx holder since then.

[@peturabbykarlsson5325]

As a recent shareholder in American Express I am so happy to read your comment. Thanks for sharing!

[@boondoggle4820]

Wow. That is impressive. Kudos to you for being a great person and kudos to Amex.

[@helloxonsfan]

*The video ignored the point that being "affluent" is NOT necessarily the same as spending a lot...!!!* *... Also, they're just a big corporate conglomerate who only care about how much cash they can swindle out of their **-victims-** customers.*

[@realShadowKat]

@@helloxonsfan As a publicly traded company they are legally bound to the interests of the shareholders.

[@thegreat9481]

Well that is in fact an information breach and they were right not to connect you because who the hell are you and what are your intentions? I wouldn’t say that’s a negative.

[@jeremykelly3633]

AMEX is remarkable. I got in an accident in a rental car-totaled it. Their rental insurance covered the complete cost of the damaged vehicle. Nearly 25k. It was amazing to see an insurer actually stand by their client in their time of need.

[@landshass2849]

I agree, but you need to decline any paid coverage offered by the rental company, and there's some other restrictions like no off roading vehicles or cars above certain price.

[@JP-dz7zu]

I’m going to give this a shot

[@flysuperman3660]

Jeremy, which card specifically did you have?

[@77Joseph777]

@@flysuperman3660 AMEX offers premium car rental coverage through all of their cards. A flat rate in California for 40 consecutive days of rental coverage for 17.95$ will cover up to 100k rental.

[@flysuperman3660]

@@77Joseph777 you pay for this monthly or how do you add it?

[@6272jac]

As a Brit with an Amex I can tell you that everyone always thinks I'm rich when I pay with it. They have such a premium image, most people don't realise that it isn't even hard to get. It is also one of only a few cards in the UK that actually offers good rewards. Their customer service is great as well. The only issue is only about half the places I go to accept them but it is worth it for the rewards.

[@gordon4672]

What kinda rewards do u usually usually used in here. I’ve been wanting to get one but I wasn’t sure if it’s any good outside US

[@g43654]

It depends on your income level. If you earn over $100k a year, then you can get everything up to the Platinum card easily. The Black card, on the other hand, is another story altogether. It's only for the 1%.

[@derrickogole]

I'm one of the millennial customers they have acquired in the last 12 months from the UK. I've used the card purely for travel perks. And I find myself using my Amex every day as my primary card and carrying my debit card as my backup if Amex isn't accepted. It's perfect.

[@mateuszdrab]

I love my Amex, but like mentioned by @6272jac, lots of places, especially small merchants won't accept it because they complain about the fees. This means I always need to have a backup visa - just in case. Let's not forget though that the UK is a country where your average overpriced corner shop rejects card payments below 5/10 pounds or charges a fee. Crazy example is one of my local car washes, charging 2 pounds for an 8 pound car wash. I just avoid these places like a plague - I not gonna support any business which forces me to pay by cash in 2023.

[@jz5791]

Not a small business owner but it's because the card vendors charge like 2-3$ a transaction minimum. So if you buy 8$ car wash that cost the business 2-3$ in labor and long term costs per wash is their calculation if they make 4$ profit well if it's minus 2-3$ well then they are basically working for visa or the cc companies. They aren't trying to be greedy. Also most people love their local small business where those people spend their money locally vs large out of town companies profit leaves to the owners. And usually large distributors are used for inventory

[@JunedAlam-ux6ps]

As a Amex employee, this makes my work feel worth it and appreciated. We try to make our customers happy

[@omgcrisbreezy]

Same here. I agree 🙏🏼

[@brianp5205]

Amex will lay you off the second you are no longer needed.

[@dev0_018]

@@brianp5205 and he ( employee ) doesn't work for them the second he finds their pay no longer needed

[@gnpvermillion9747]

AMEX has the best customer service

[@leonelsosa650]

@@brianp5205 any company would do that 😂even if u were the owner of Amex u would do the same thing too

[@hashish2007]

Back in the days when I was starting my career, I ended up in a financial emergency and applied for about 5 cards. Amex was the only one that approved me for Green. Although it was a charge card, it gave me much needed few weeks. I'm keeping it ever since, out of respect for a company that helped me out (don't use it much)

[@flyer3455]

Did they turn it into a credit card over the years or is it still a charge card?

[@hashish2007]

Well, both. :) It's a charge card in a sense that it doesn't report its limit to credit bureaus and you need to "check your spending power" prior to making large purchases. But at the same time it lets you "pay over time" for certain charges, which was not a thing when I originally got the card. I swapped it at some point to the now-discontinued AmEx Zync, because of a lower annual fee.

[@flyer3455]

@@hashish2007 Interesting that they give you a finance option. I have one for work but never had one personally.

[@oyi21]

You sure this isn’t an advert for Amex?😂

[@ObinnaWGMI]

Same

[@kenc2257]

I've had an Amex card since 1974. Back then (and throughout the 1980s), it was one of the only cards I could reliably use when traveling around Asia. I've only had to call their Customer Service a handful of times, but their assistance and helpfulness has been outstanding. We always use Amex for anything travel related.

[@vrc48]

Interesting. How was the Amex network in Asia back then?

[@NazriB]

Lies again? Bright And Shining

[@ReflectedMiles]

How curious. My experience is quite different. In Asia I find that Amex is typically accepted at the major / tourist / high-end venues and areas, but in the broader areas that are more native and working-class in orientation (the greater portion of the region), I find Visa to be much more commonly accepted. I think that Amex figured out that they could not compete with Visa and MC on broad terms, so they aimed for an affluent, status-symbol market positioning.

[@Freshadventures_]

That's good to know thanks for mentioning that. It will help to know which credit card to use in future travel endeavors.

[@eric336]

I am AMEX card user in Singapore. Apart from the perks, their customer service is superb. I know they won’t make me wait long when I call their hotline. Most of the time the issues I had were always solved. I thought it was just in Singapore that did a good job on this front. Surprised to know people in other parts of the world also have good experience with AMEX.

[@rawrmonster6782]

@@nightwaves_ service being the best in country of origin doesnt really hold up tho. just look at KFC and 7/11

[@kung-fukenny6955]

Btw Customer Service for Amex Singapore located at Kuala Lumpur for more than 30years

[@tihruytssgjjvsavcxtbvhj3429]

Amex customer service is literally THE best customer service I've ever experienced. They can answer all my questions quickly and without transfers, even with complicated questions. 10/10.

[@shaunrockett2885]

I’ve had an Amex card as my main credit card for 17 years. One thing that has been consistent throughout those years is excellent customer service. When you call you speak to an agent right away and they never fail to be super helpful. The major bank call centres can’t match that.

[@ayuhafiz3668]

All these bank crisis and recession are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

[@ayuhafiz3668]

@dendrickpaul Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@ianjohnson3770]

@@ayuhafiz3668 that’s a scam dude

[@ivand0007]

Because it's the world reserve currency and is more stable than other currencies. If you're American how can you even hold anything other than USD? Very difficult to dom

[@ajsoltani]

Save in both. Don’t put all your money in one place.

[@animeshacharya6532]

As someone working in AmEx, it's good to see our work making a difference!

[@KingofgraceSARA]

It would be nice if you'd use your culture names instead of names like "Bob" & "Mary Beth."

[@johndong7524]

It doesn't. You're answering phones, not saving lives, Rakesh.

[@bigdarshan]

​@@johndong7524and what work do you do to save lives? Get a life dude

[@LexlutherVII]

@@KingofgraceSARA Lol, 😂

[@manyamanjunatha5389]

@@johndong7524 Don't be so rude John.

[@Cloud777-7]

I have the gold and platinum cards , I went to egypt for free because of referral bonuses and getting to wait at an airport lounge just because I have the card is amazing. Amex FTW

[@christhedoc8689]

but the yearly maintenance fee it's $695 per year.

[@Cloud777-7]

@@christhedoc8689 not if you use the airline credit, hotel credit, saks fifth credit, and Uber credit. If you don’t value/use the credits and don’t care about bringing two complimentary guests into airport lounges with you then yes it doesn’t make sense. Those credits and complimentary guests cut the annual fee by more than half.

[@christhedoc8689]

@@Cloud777-7 ahhhh i understand, thanks for the info.

[@stuartbagley2586]

Platinum is really good for travel. You also get reimbursement for CLR and TSA Pre-check. I was initially turned off by the extremely high annual fee, but after doing the calculus, it ended up being worth it for me. If you are interested, I would suggest trying to for a year. If you’ve never had it before, you can easily get 100,000+ points as a signing bonuses which is the equivalent of $1,000 or more. Just cancel after a year if you find you aren’t getting your money’s worth.

[@justinh8703]

@@Cloud777-7 :( We can't take guests into Centurion Lounges for free anymore (not sure about Priority Pass lounges though), but I still love my AmEx #PlatiGang

[@jamesslick4790]

I'm a "lowly" blue collar worker and an Amex carrier for almost 40 years (Hell, it was my FIRST card, as a 20-year-old kid in 1982!). The loyalty AMEX gets is due to AWESOME customer service. They are the antithesis of Comcast! I know that this channel is OWNED by Comcast, but let's all admit it, American Express could open a whole college to teach customer service. You don't have to be "rich" to dig Amex! They respect people who are competent with money, "Rich" or not so "rich".

[@barexampasser]

Why is your profile picture the dell logo?

[@jamesslick4790]

I'm a Dell "fanboi", Been using Dell PCs since the 1980s (NOT a paid endorsement).@@barexampasser

[@benrosenberg7972]

AMEX has the best customer service of any company I've ever dealt with. Within only a minute of calling, I'm talking to a US-based rep who consistently goes above and beyond. Love AMEX!

[@mtronics]

There's a niche within the AmEx business cards and how they only report to your EIN. And how it doesn't report to your personal credit. So you can run your business and spend 20k+/m and not tank your credit. That's when I see the good rewards coming in. There's a card out there for everyone that can maximize your rewards, just have to do your homework.

[@TheMoesoliman1]

Chase is the same. Capital One reports to your personal credit report.

[@user-pn8dq6vt4s]

Interestingly, Ferrari Financial Services also don't report loans to credit bureaus, just inquiries.

[@mtronics]

I was going to mention Chase too. My accountant told me that's the close second.

[@Anthonyjones-pq4ff]

@@TheMoesoliman1 yeah but chase has that 5/24 Rule I don’t know if it’s the same for their business as the personal side correct me if I’m wrong Would love too apply but over the 5/24

[@Black____]

@@Anthonyjones-pq4ff Business counts as well toward 5/24 if I’m not mistaken.

[@AnnaFed015]

It amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. I have understood a lot in the past few years to doubt that oppor-tunities abound in the financial markets, The only thing is to know where to focus....Thanks so much Rahul Sahil Gupta..

[@tomaszcz_k]

Working with a financial professional could truly help you get ready for life. Since I was actively cashing out from my portfolio and finally made over 370k just in the first quarter while everyone else was whining about the downturn, I'm delighted I was able to contact my coach Rahul Sahil Gupta. early this year...

[@CharlesBWillz]

I'm grateful for the advice. Finding your coach online was a straightforward process. I looked him up online before we scheduled our phone call. He appears knowledgeable based on his online resume.

[@MatgorzataZielinska]

I pulled a profit of about $750k with no prior investing experience, basically all I was doing was seeking guidance from my coach Rahul Sahil Gupta who's an Indian guru in the game, you can be passively involved with the aid of a professional.

[@ralfm-mg7oo]

This was just what I needed to see today. I've been struggling with finances for months after my divorce, and I just discovered his exceptional resume when I Googled his name. I consider it a blessing that I discovered this comment area....

[@DooneynBurke]

what are the words you're saying?

[@thunderb00m]

Some of the rewards aren't really worth it for me, but I really respect amex. When I moved to the US and no one would give me a card due to insufficient credit history , amex approved me. It's my first credit card in the US and the one I will always keep.

[@Omikoshi78]

Same, pretty much the only reason why I keep their plat card around.

[@KuyaRGB]

Rewards are trash for the everyday person IMO. If you are very affluent I can see how it can help but it’s not all that

[@jowen803]

@@KuyaRGB 4x back at restaurants and supermarkets are bad for the everyday person?

[@cancelled_user]

@@jowen803 in the UK Amex give 0.5% cashback

[@KuyaRGB]

@@jowen803 that’s not bad but for that annual fee? There’s free cards that have almost up to par rewards. Ngl I was thinking about Costco usage but I know that costco doesn’t fall in the Groceries catagory

[@creepystack1090]

Was in Mexico on a holiday as a child, and my dad had heard a hurricane was inbound and we were in the place the eye was going to pass through. The hotel turned off the local channels so nobody would leave or get freaked out, as a a last resort my dad called Amex and they said theres a flight leaving in 45 minutes get on that plane ! We quickly threw everything in our bags and took a taxi to the airport and barely made it and enjoyed the second half of our trip in Palm Springs, the area in Mexico we left was devastated everyone only had 1 gal of water per day no power etc . As an adult I have 4 Amex cards .

[@Carcadia393]

Not just for wealthy lool we've been able to make back thousands on credits that we would have used anyways and really great travel point redemption. If you pay attention and actively track your spend and gains, Amex can work for you. This is from a reg middle class person.

[@GrayPenguin]

Capital One is better. They both convert to miles, and it's easier for most to get them from Visa cards.

[@g43654]

The wealthy will have a black card, while the rest of us will have to make do with a Platinum or lower.

[@GrayPenguin]

The black ⚫️ card is the only truly status card.

[@GrayPenguin]

They like the status. And that the discounts are at the types of merchants they already use. I don't like it as much for the same reasons. I don't believe that any of them have markedly better service so it's about the number and exchange abilities of the points.

[@edgardolopez500]

@@GrayPenguin I have both the Venture X and the gold card. While the simplicity of the Venture X and the fact that so many more vendors accept it is great, they are so stingy with credit limits. My Gold Card on the other hand will allow me to charge as much as $75k on it if ever needed. Due to the multiplier categories I earn so many points from it as well. I feel like your comment is more geared towards the Platinum card in which case I would agree, but I truly believe the gold card is one card that all consumers should at least consider.

[@Shane-fh4uu]

As a small business owners, Amex has been by far the most flexible card I have ever used. I use business platinum almost exclusively now except the other ones I use are Amex Business Plus and Amex business gold for different rewards categories (I spend 7 figures each year and don't pay a single cent in interest). I started off with Capital One Spark Business but it went from 30k limit to 50k limit at most and it got to the point where I had to pay it off 3-4 times a month to keep using it. With Amex I have never been declined for anything ever. 50k purchase? all good. 80k? no problem. 200k test charge from a distributor to make sure I'm not just pulling their tail was instantly approved. The last one I was really surprised to be honest but ever since then I've never bothered to use any other card. Capital One /Chase have declined me for much less.

[@zinc712]

Same situation here. The business plus card is great!

[@user-xy7ux9uk1k]

Their new annual fees of $700 are insane

[@Shane-fh4uu]

@@user-xy7ux9uk1k well I would only advise to get it if you are sure you can get your money back. I have amex plat biz and amex gold biz for different rewards categories but it’s $1k in annual fees. I also have $200 chase ink premier and another capital one but again different categories and I get my money back each year. Amex plat I get $400 Dell credit each year to buy something and resell so I get $300 out of that easily. I also get $200 or so in airline credit for incidentals like checked bags and stuff. The remaining $200 is made up in 1.5% cashback pretty easily.

[@CaridorcTergilti]

What if they just took the 200k and ran away?

[@Shane-fh4uu]

@@CaridorcTergilti large businesses don’t do that. If a distributor tried to run with your money you can chargeback with amex as you never got products you were promised. If for whatever reason amex can’t do that, you take them to court and I’d imagine you’d win pretty easily unless you signed some scam contract but the other party would have no proof of delivered goods/services.

[@AdamFrugoli]

I got my first Amex card when I was 32, 10 years later its never let me down. From flight delay insurance, recommending,reserving the best golf and restaurants to take clients to. I can’t forget them covering my new drone I flew into Bear Lake 10 minutes of ownership, they really saved me from my angry wife. It’s my Swiss Army knife.

[@taylorspastpresent1014]

Got my first Amex Platinum on my 31st birthday last year. I will be switching to Gold since the lounges have been overcrowded and the platinum card doesn’t include at least one free guest. The Gold has so many benefits for dining and groceries. I’ve enjoyed the travel benefits and rewards from the Platinum regardless.

[@keatonbramlett2127]

Near Duluth?

[@Maj.RaquelBrentsonDDS.]

Hello 👋

[@johndong7524]

She should have divorced you right after you bought a drone, manchild.

[@NadiaSeesIt]

​@Karl with a K it's SO SAD how you go to every comment to be mad lol

[@IslemTav]

I have been an AMEX user since 1999 and will ALWAYS be an AMEX user. Their customer service is second to none. Love the perks! I get back more than their annual fee, so I don’t mind paying for it.

[@annedon776]

I would agree up until 3 weeks ago. They have outsourced the customer service for platinum card and was shocked. Was not a good call or the 3 others I needed after card was hacked. I hope this is just a blip and will go back to who they use to use. 40 year cardholder too.

[@ducks-on-quack]

@@annedon776 platinum sucks now unfortunately. I’m downgrading to green this year

[@Frank787-9]

Have had a platinum since 94, their annual fee could be $10000, I wouldn't care, as long as their customer service stays at good as it is! 😂

[@Frank787-9]

@Karl with a K AmEx customer service is comparable to nothing.

[@ChrisHemsworth-nd1vq]

Hello 👋

[@Noneofthedays]

I have 6 different cards with Amex and put every bit of spend on them I can. Phenomenal customer service - especially through their chat system. Great, useful rewards. Used to use Chase more, but their service can’t compare. I keep a Visa for when Amex isn’t accepted, but I’m a total Amex fanboy.

[@DOGO8991]

It's so refreshing when customer service actually happens to be responsive, efficient, and competent.

[@mkrisch1986]

By far the best chat system period. No other company i have experience with comes close.

[@javianjohnson8746]

Those rewards/perks are a major plus. Especially with the AmEX exclusive check-in areas at events, concerts, and other invites to other experiences. Anyone would love to feel like they can "cut ahead of the line" if all they have to do is have an American Express card. Genius business model

[@jfromjersey147]

Do I have to book the tickets on the Amex site for the check in areas? What cards are eligible? 🙏🏽

[@landonbrown9943]

Gotta love Amex customer service

[@JAlexanderCurtis]

This is so true. You call and get a real human almost instantly. No nasty phone trees or talking to a robot. The people are helpful, friendly, and don't follow scripts. They actually have the power to do almost anything you ask for. Try calling any other bank and its an exercise in frustration.

[@PeterLawton]

Nope. I had a nightmare experience. Never again, Amex.

[@cancelled_user]

@@JAlexanderCurtis In the UK I've been using their chat system instead of calling them and it seemed little bit like it could be following scripts.

[@richardhart9204]

@@cancelled_user Call them. Their agents are very friendly and always on your side. It's the best customer service in the credit card world.

[@Thefedup]

AMEX card holder in the US since 1999, recently moved to the UK and I got denied by all companies here, even the bank i bank with because I had no credit. I ended up finding out that AMEX offers their US customers a service that if they move to a few specific countries they would extend you credit in that country based on your US history. Thank god for AMEX and this service. If it was not for that I would not have been able to get credit here in the UK. I will always be an AMEX customer as they actually follow their customers and work with them in so many ways!

[@Ricardo1030]

Do you recall which countries they offer this in?

[@Markyroson]

@@Ricardo1030 Check out "The Credit Passport by Nova Credit"/Amex. Lists countries eligible as: "Australia, Brazil, Canada, the Dominican Republic, India, Kenya, Mexico, Nigeria, United Kingdom, Switzerland, South Korea, and the Philippines."

[@richardhart9204]

I work a pretty low waged job. Three years ago, as a joke, I decided to apply for an Amex gold card to see how quickly and severely they would tell me to go BLEEP! myself ... and was approved. The card was with me, first post the next morning. Three years, and three cards later, I'm still with them.

[@etchvee]

I love my Amex - they were at campus handing out Amex to students and I stuck with them since then. I use them as debt card to collect points which can be redeemed for generous gifts. Customer service is unparalleled

[@CurtisCT]

That's how I got my Amex years ago. They set up a booth at my college campus and all you had to do was sign on the dotted line...which I did. Years later, I was surprised to learn they had such a premium image and that the card is so hard (for some people) to get.

[@qwertz247]

@@CurtisCT how much is your annual fee?

[@worldcitizeng6507]

​@@qwertz247 my Amex Blue from my MSU days were free, low limits but I always pay off my balance. In 2018, they offered me the cash back bonus CASH MAGNET card, no annual fees. I can redeem my points when it's accumulated to $25, apply to next month's payment.

[@mdbbox5660]

My Amex blue was my primary card for everything until they nerfed the rewards they offered. I get better rewards via Citi double cash. Never had an issue with the company, but I've not had an issue with Citi either.

[@MarcheseMethods]

Around 5-10 years ago my mother and I visited family in Europe. Our flight back home was at about 5am so we had to drive overnight to Brussels airport. The rental car needed gas, but our Americanized minds figured gas stations are always open so we’ll just get some on the way. Turns out we couldn’t find an open one and were nervous that we’d get stranded. My mom called the AmEx global assistance line and within minutes the clerk somehow found a truckdriver to come bring us gasoline in a gerry can, and fill the rental up. Paid for by AmEx. Because of that you bet your bottom dollar I will never use any other card, and if a place doesn’t take AmEx they’re not getting my business

[@ExxonMobilCompany]

fantastic video Everybody wants to be financially independent and live a better life. With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realised early on that achieving financial freedom requires hard work.

[@marcelrobert9569]

My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky. For this reason, I suggest consulting experts for advice (financial advisors). The difficulty lies in effectively employing it, not just watching videos and reading investing books.

[@obodoaghahenry9297]

@@Manuelcliford Would you mind recommending a specialist with a variety of investment options? This is extremely rare, and I eagerly await your response.

[@robertlucas8288]

@@Manuelcliford I just looked her up on the web and I would say she really does have an impressive background on investing. Will write her an email shortly. Thanks for sharing

[@teniechac9556]

Seeing that Wachovia building in the stock footage was a real throwback.

[@lmorgandiaz]

Right, took me back to the early 2000s

[@jealva]

I’ve been a member since 1995 (got the Green card in 1988 in college but dropped it for a couple of years) and I love my AMEX Platinum. It’s especially great for travel benefits.

[@DiamondAJ]

What does it say in your card? Member since 88 or 95?

[@fartingrocket6795]

Had an Amex when I lived in France. The customer service is unmatched. Talking to them on the phone you feel appreciated as a customer. And I never had an issue when claiming anything covered by my insurance, whether it was an issue with a rental car or my home door locked from outside. I was really sad when I had to cancel my card because I left France.

[@ariannamasonwright]

Normally during this time of the year, we see certain stocks rise in the market, but that is very unlikely this season due to the recession and overall economic crisis. The issue is that I've been holding a lot of stocks hoping to sell for profit this month, but I'm not sure if I should keep holding or sell, I've been running at a loss since Q2 and 2023 is not looking promising for investors. The market hasn't looked good since COVID, and it's only going to get worse by 2023; you should sell.

[@ameliagarcia440]

@@henryliam6037 Unless you intend to buy and hold stocks for a decade, which I don't see why you wouldn't, I've been investing closely with an investment adviser for the past two years and I've pulled over $450K in net gains, and I'm not concerned about where we're headed in 2023 because I know I'm in good hands.

[@jessicalandon8973]

@@ameliagarcia440 Very well said, could you recommend this coach that guides you? I’m just a beginner and I’ve been having a terrible year.

[@ameliagarcia440]

@@jessicalandon8973 Alice Elaine Hayhurst, the coach I use, is well-known. She has a large online presence, so a simple Google search will bring up her profile.

[@husseinhodrob]

@@ameliagarcia440 Thank you for the tip. It was simple to locate your handler; she appears to be very competent and adaptable. I scheduled a call with her.

[@alfredoramos1450]

Thank your president for this bad economy

[@ChrisChiappetti]

That’s the wrong “Platinum” card they’re showing in the video. There’s a big difference between the main Platinum and the Delta Platinum.

[@kwame717]

lol. I was hoping someone else noticed that.

[@jaybinning2890]

ChatGPT must have done the video editing too, lol.

[@Jules-fr5gm]

🙄that went over your head. They literally said it was just another travel card => insert a familiar travel brand to visually connect dot

[@jaybinning2890]

@@Jules-fr5gm Lol, no, they pointed an arrow directly at the only "Platinum" word in the AMEX Delta Skymiles card sell sheet. There were also 2 other cards on that sell sheet they could have pointed to. The video editor probably just googled "Amex platinum", that link popped up, and they used it for stock footage. Just a simple mistake in the video, but a funny one to call out for us credit card nerds.

[@Troy-fv9uq]

Been a member since 05. Have used 3 different cards in that time. Great rewards and A+ customer service.

[@551223]

I love Amex. I currently hold 6 cards, checking, and savings with them. Their customer service is amazing and their cards offer great benefits! Never paid interest in my life and I’ve profited so much from their bonuses and intro offers!

[@sanchitsinha7101]

Does it bother you that Amex does not have a physical branch? I am hesitant to open Checking with them - what if you need like a Cashier's Check at short notice? Apart from that HYSA is good and I own Gold, Delta Gold and BCP. Amazing perks and no complaints whatsoever.

[@551223]

@@sanchitsinha7101 well, I dont really ever deal with cash for one. So, not having a physical branch does not effect me. However, i think holding a few hundred in a secondary checking account, like chase, can alleviate some of that concern. You can switch over all your automatic withdrawals and deposits to your amex checking. So your primary income will still earn their 1x APY and you have the chase checking cushion

[@bruceh4180]

@@sanchitsinha7101 I have a Capital One checking account. On the rare occasion I need a cashier's check, I request it online, then they express mail it for free. I assume Amex has a similar program. I also have an old WF acct I can transfer into and visit a branch.

[@ricardomoran4609]

Anytime you call customer service, they answer almost immediately. There’s almost never a wait time which is incredible

[@Nicckkster]

I talk so much great things about Amex. As a user since 2011 with a green,gold and platinum card in my wallet, I use it as my everyday cards. The amount of perks and rewards makes me so happy and their costumer service is just great. Always there when I need them. I tell everyone they must carry one in their wallets because once you do, you don’t look back.

[@ProphetC2]

Why have all three instead of simply the Platinum? Use a single card for everything instead of paying all the annual fees.

[@user-ny5xe2hx7t]

Most rich people stay rich by spending like the poor and investing without no stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them

[@MarcosAlonso-wx8uw]

That is why I had to start forex trading 2months ago and I now am making benefits from it..

[@JacolienVos]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻

[@AlmedaKandemir]

A common mistake we newbies make is venturing into the market without help and legit guidance

[@AlecDupont]

O' Yes I'm a living testimony of Mrs Shanita Creswell.!

[@RudolfKowalczyk]

I'm New to Bitcoin and forex trading. Can someone guide me on a good way of trading

[@good-tn9sr]

I’m 20 and in college and my Amex blue cash everyday is my primary card simply because their app UI is the best of their competitors.

[@lightfusegetaway]

Got the same card. I never carry a balance, use it mainly for gas and groceries, and get around $150 balance credit every year... Can't beat free money!

[@BuckBreaker]

Love this card. I rack up free money from cash back and pay off car repairs and such. I use the skymiles card at restaurants and fly all over for free. AmEx has great rewards.

[@tt-designs124]

I’ve had an Amex since my early 20’s. One unknown perk that I was told about is that if you were a card holder you could cash a personal check at one of their offices anywhere in the world. I never had to use it but I used to keep a blank check in my passport while backpacking through South America and Europe.

[@dumdumbrown4225]

Middle class Aussie here - love AmEx… was one of my first no-annual -fee credit cards, and today I have a platinum card with them. Moving long-term to the US in a few months, and will get one there with the AmEx international customer program.

[@PjPjPaul]

Millennial here. I'm enjoying my AMEX Platinum experience so much I bought stock in AMEX. I was reluctant because of the really expensive annual fee, but if you put in a little effort you can easily offset the annual fee with things they offer for free. Also, their customer service is freaking amazing. It's become the card I use everyday.

[@johndong7524]

Sucker )))

[@aznnp77]

That wouldn't be a good strategy for me investing wise. I'm a frugal guy, and only shop at places with the best prices. That means low margins. You gotta buy stock in companies that have high margins, but people buy it anyways. I.E. Lululemon and their $120 yoga pants.

[@andrewdiamond2697]

About 30 years ago, I somehow got stuck in Budapest with no bank/ATM/etc. capacity and just an Amex Card. Back then, a lot of Europe was still cashed based and I just wasn't prepared for that. Amex just gave me about $500 in Hungarian Forints and UK Pounds (About $1100 in 2023 dollars) and just put it on my card balance for me to pay back when I returned to the USA. No fees and no fuss at all. Today, I drive well over $70k annually through my business and personal Amex cards.

[@kathleenjames3546]

The power for creating a better future is contained in the present moment, You create a good future by creating a good present.The key to financial freedom and great wealth is a person's ability to convert earned income into passive income to build generational wealth ,this trick has never failed .

[@connieharvell8494]

It quite interesting to know over 97% of the billionaires we know are all secret investor in crypto, that were they grow their billion dollar portfolio ?

[@marryannwhite2759]

Bitcoin doesn't always assures winning, the ability to make profit off your capital is what makes you win.. Stop relying on the market price to make profit. Choose trading ?

[@philtyler8721]

I truly agree with you on that, I must say trading is the future and with the way Bitcoin is growing, it's really advisable for people to trade now.

[@leoharry8025]

Initially, my intentions was to start trading Bitcoin full time, I also need good mentorship. Thanks?

[@stowemanning644]

@@leoharry8025 If you don't know , trading with mr Edward Jason , over time will yeild more returns than doing it all at once. Finding a certified advisor who can educate you on how market has been advised if you're just starter. I'm referring all individuals to trade with mr Edward,?

[@bh1462]

I first applied for an Amex in 2017. I only had it for 2 years then canceled to move on to a different card. 3 years later I signed up for another Amex, it still says Member since 2017 on the card. Nice touch.

[@johannab7715]

To me they also stand out because of their excellent customer service.

[@BusterDarcy]

Biggest thing holding me back from Amex is that it’s just not nearly as widely accepted as my Mastercard. The absolute last thing I want is to have to plan ahead based on whether or not my credit card will be accepted somewhere.

[@kevindao1103]

Being a big Amex fanboy, I've retired most of my Citi cards that I used to carry (didn't close them since a line of active credit helps of course! Even if you don't use it) and use my Amex cards when I can. The service is just too good. However I do carry one of my four Citi cards in my wallet in case if the former isn't accepted.

[@MisterMonsieur]

I use my Amex cards exclusively and have only found one retailer -- an ice cream shop -- that didn't accept Amex. There's nothing to worry about.

[@bruceh4180]

You don't need to plan ahead. Just have an Amex and your choice of Visa/ MC

[@elizabethsmith1180]

I literally have used my Amex every day and only 2 places haven’t accepted it.

[@johndong7524]

@@MisterMonsieur start visiting places where adult people shop and you will find more places that won't accept Amex.

[@jip230]

I have an Am Ex Gold and an Am Ex platinum and the customer service is on point. I have the gold on a joint account with my parents and my mom and dad are elderly and we appreciate the solid customer service when my parents have a question. I have the platinum on my own and I got it for the perks and witnessing the five-star customer service my parents have been given. Yes, Am Ex is the real deal!

[@gabrielalexanderpalma6083]

I've been with Amex since I turned 18, back in 2017! I had a 590 credit score with zero history... now I have a business account with them, the gold, and the platinum card! I also use their savings account and have their new debit card, though I don't use debit much... they have always been there for me, so they're all I practically use

[@aroseformydyingluv]

By no means I’ve ever consider myself wealthy but I do have the platinum and I love that I have to force myself to pay off every month so I never have a balance plus I take Advantage of all of their perks and rewards so the fee pays for itself basically I’ve been able to rack up 700k in points since I’ve gotten it definitely recommend it if you love to travel. Also their customer services is just amazing! Never had any negative experiences calling them

[@Carcadia393]

I wanted to cry at the annual fee but after the first year woow I totally agree, it's paid me back in so many ways

[@aroseformydyingluv]

@@Carcadia393 yes!!! It definitely paid for itself in my case! And the benefits aren’t for everyone that’s for sure

[@NicksDynasty]

I'm not wealthy yet I just have the platinum card for the benefits. I love chilling in airport lounges and having status with hotels and rental cars I spend very little on the card

[@doom2060]

The AMEX gold is so good. Insane value that pays for itself

[@user-xm1jh8nm4t]

Amex customers are so high end the moment you schedule a payment you get the credit available. They know youre good for it 🔥

[@thewellpaidwoman828]

I am one of the baby Millennials who makes 6 figures and has a platinum Amex. Before getting my AMEX, I never understood why so many people talked about AMEX. Now as someone who travels a lot, the Uber perks, Hotel credits, experience credits at certain hotels, airport lounges and points on flights is so worth it. (As a Black woman, people also treat you better when they see the AMEX. A lot of the discrimination id previously dealt with is no longer an issue, people who don't even work for AMEX see the card and instantly start treating you like you're filthy rich.)

[@omaralguera7621]

Amex gold card is a great investment for average people, I have been getting a lot of points for my spending in groceries stores and restaurants. Recently I got approved for the Platinum Card (I'm planning to travel more often) so what I did with this one to compensate the high price ($695) beside I use some of its perks, I charge each authorized user $175 (already have 3) although they don't have all the benefits that I do, they are going to take advantage of the Fee credit Global Entry ($100) and airport lounges etc. Therefore it's a WIN-WIN because it's worth it for them and BEST PART I'm only going to pay only $170 🙂

[@j10001]

Nice Silicon Valley Bank background at 1:13 😆

[@ala.9768]

When I moved to the US, no bank would give me credit card. I switched my Canadian Amex to US one. So easy and great point reward system that pays for itself. Happy customer!!

[@IFlyMileHigh]

Been an Amex member since 2020. Such great customer service and benefits I now have 3 cards.

[@tylerbaldwin6643]

I love seeing the SVB logo in the background 😂

[@dia37355]

It is such a nice card with great cs and perks. However as a 20 plus year Amex holder, the fact that there are more than a few merchants who don’t accept Amex is such an inconvenience.

[@justincarrizales1206]

They don’t wanna pay the merchant fees 😂

[@JAlexanderCurtis]

I find thats it has gotten pretty good the past 5-8 years. There was a long time when you had to actually ask if they took AMEX before paying because maybe a third of merchants didn't take it. Now its single digit percentages. In the past year, I've had 3 experiences where I went to pay and they didn't take AMEX. Four I guess if you count Costco. I'm a pretty heavy spender. My parents have a Discover card and there are far more places that don't take Discover than don't take AMEX. Thats how its been for me at least, ymmv. Thats in the US at least. Outside the US it's pretty bad. There are a lot of places that don't take it once you leave the states.

[@justincarrizales1206]

@@JAlexanderCurtis sad unfortunately. That’s why visa has them beat in revenue and cheaper merchant fees

[@dia37355]

@@JAlexanderCurtis I don't mean to have an argument with you. However I disagree with you. I primarily use Discover. (heavy user) For the last 2 years since I started using, I have been rejected twice by venders for use of Discover. I can name them. They are Great Clips and a Japanese restaurant in CA. That caught me off guard. Even Discover brags about 99% us merchants accepts Discover. I ran into so many Asian businesses who are very sensitive about high processing fees and are not utilizing Amex. Don't get me wrong. I am an Amex fan and wish that Amex could be widely more acceptable among merchants and vendors.

[@JoelGetstoKnow]

costco, namely. I spend so much there

[@joylox]

I'm in Canada and only about half of the places I go accept AmEx, but there's a points system we have for groceries, movies, and all sorts of rewards, and the AmEx rewards card offers basically twice the points on everything, so by using it to buy groceries at places that accept it, I got free groceries at the place that takes the points. Although I did get a Costco MasterCard as that's they don't take AmEx or Visa.

[@ronaldtthomas]

Absolutely love AMEX Platinum. Have both personal and business. Their customer service is a pleasure to talk to. I also use the travel desk for all my flights etc...LOVE AMEX

[@Jakereviewsall]

I have 2 Amex cards, one for personal for SkyMiles rewards and one for business. I use both for every single thing I can including bills and then pay them off each month never charging more than I can pay. I just hate that some places won't accept it like Costco and I shop at Costco at least once a month for supplies. I still remember years ago when Costco pushed Amex and even had the tents outside to sign up.

[@itissrinivasan]

Best customer service ever. Worst acceptance rate I’ve seen ever. But definitely an aspirational product

[@lanimulrepus]

As a very-long-time AMEX user, this is the first time I've had an understanding of their underlying business model... Thanks for the excellent video...

[@Dfgbuiiyyyybb]

The biggest problem with Amex is that you can’t just leave home with ONLY your Amex because it is not as widely accepted as Visa or Master Card. I remember on atleast 2 occasions where I was traveling overseas in Hong Kong and my 2 places I went to didn’t take Amex but took Visa.

[@jefferybaxter1225]

That's true. I assume you're the only one who mentioned this where AMEX is not accepted everywhere. While watching this video, that thought came to my mind as well. Certain gas stations don't accept AMEX and certain restaurants don't AMEX. Couple other businesses too, but I mentioned gas and restaurants due to the fact that those two are more common for general credit card use. Primarily AMEX isn't accepted due to the fact that their fees are too high.

[@mikejaxon8696]

I want to invest in the crypto market I need a reliable broker that will help me trade my coin and make profits Any recommendations?

[@AdeilHussainSabri]

Amex are fantastic, great rewards and fantastic customer service. I’ve had mine for about a year now and can’t think of cancelling it

[@Itsmarkyoung]

Everything they say here is true! My Amex is my first card I reach for, and I pay for almost everything between my 2 amex cards, even though I have others. The rewards and perks are too good to pass up

[@BeliqueBlue]

I have had a couple of AMEX cards since I was 19, and they have been my favorite card company to use. My favorite card is the Delta Reserve card for personal use and the platinum card for my business. The perks are worth the fairly hefty yearly fee.

[@mtronics]

The biz platinum is where its at..100%

[@AbhinavYadav-zm7ut]

The Delta one is a great return on investment. I saved money on checked bags, the card keeps me in the Skymiles program eliminating many minutes that would have been wasted in queues. The companion certificate is great too!

[@MisterMonsieur]

If you actively use the card, you earn back the membership fee 4x in points, retail discounts, etc. They're all great value.

[@IslemTav]

Yes! Their Delta cards are AMAZING! I’ve saved a ton just on the free luggage checks. I usually travel with two checked-in bags. Delta would very often comp the second one for me! 😊

[@ChrisHemsworth-nd1vq]

Hello 👋

[@internati0naled974]

Got a Platinum card and a BCP. I’m far from a wealthy guy. I like the value and the few times I contact their customer service they’ve been stellar.

[@LordGooben]

Perks are great but their customer service is next level by far. I have 4 cards with AMEX and it's my preferred choice when choosing what to pay.

[@DonBMW]

I love my Amex. It was my first card, which I maxed out, as expected; I was young and broke! I’ve now had the card for many years and its my only card. They treat me like royalty anytime I call (24/7) anywhere around the globe.

[@raymondcaylor6292]

I carried a Gold or Platinum card for year's. I carry the Blue Cash Everyday card today that has limited rewards but no annual fee. I think I have about $2,500 in credit balance on it. I only use it for convenience. American Express is a great company that still has great customer service and support.

[@goddessnadiya]

Love my Amex, however, on a recent trip in Asia and North Africa, my experience was like it was on a trip 6 years ago, finding places to accept Amex was very challenging. That I didn’t like, but I love the card and use it wherever possible. I hope they keep growing. Love the rewards! I’ve only flown business class for a fraction of the price of economy for many years thanks to Amex rewards 😊

[@johndong7524]

And this why Amex sucks. Get a Visa or Mastercard like a normal person.

[@raullopez2824]

Sounds like something a peasant would say@@johndong7524

[@PattyKuluCakes]

I love the perks of my Amex Platinum, but recently they’ve raised the annual fee and made some changes to some of the airport perks. But, if you make use of the offers and credits you can easily make back the annual fee. During the lock downs they’ve had some good offers for shopping and services.

[@parrish8386]

Biggest lesson i learnt in 2022 in the stock market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.

[@leojack9090]

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

[@lowcostfresh2266]

@@leojack9090 Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@fadhshf]

@@lowcostfresh2266 Sorry about that, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?

[@I_am_somebody_1234]

In Latin America, the swipe fee is often so high that is very common to see signs saying "AmEx not accepted in this stablishment" at around everywhere that is not an US franchise

[@TheDubLiv]

SVB Branding behind that lady 😂

[@douglasa.5039]

Been a platinum member for 16 years now. Love the awards and perks. Travel abroad and domestic is a breeze .Great customer service also. I only have two credit cards Amex platinum and discover. No, i am not super rich i am upper middle class.

[@Papichoochoo1969]

What is middle class??????

[@douglasa.5039]

@@Papichoochoo1969 Yes i hear you middle class is soon to be a thing of the past!!!

[@kallemueller3194]

Now I know why American visitors often have AMEX and try to pay with it here in Germany, which leads to frustration when the card is not accepted. Locals typically pay with debit card or older people pay cash. Credit cards are accepted at a lot of places too, but Visa and Mastercard are preffered as AMEX charges horrendous fees to merchants, I have heard this from various store owners.

[@robk1003]

Thoroughly agree. I have an Amex corporate card. I'm on a work trip to Lithuania. I'm using mostly my own personal Visa card plus cash. Nowhere in Lithuania accepts Amex.

[@ajh.4131]

You would think it’d be common sense. It’s AMERICAN Express. So why do people think there would be no problem in countries outside the US? I don’t get it lol

[@anthonymaina2215]

Well, if you are doing business and want to attract high spenders, swallow the fees…

[@marcelwramp4067]

I’m also frustrated as a German citizen if merchants not do accept AmEx. In general, it seems the acceptance is rising in Germany, you can pay at Lidl, Rossmann, dm, Saturn/Media Markt, most of hotels and gasoline stations. You can also put AmEx as preferred payment solution into your PayPal account to use it for smaller businesses or online shopping etc.

[@GhostlyMeows]

It's funny when they don't accept Amex because of the fees. Guy infront me at a store, was told they don't accept Amex, so he whipped out an Infinite Privilege Visa. 😂 Those high tier cards come with huge transaction fees. Way more than Amex.

[@jujharsingh4458]

I spent $12000 on grocery, $2500 on gas annually on my gold amex, lot of perks for traveling and renting car. I pretty much use it exclusively and their app for the phone is phenomenal. I can add offers from merchants quickly before purchasing. In addition to that i am glad they have high interest rates keeps me motivated to pay off the balance.

[@corpkid]

I absolutely love my Gold card (and the Platinum still provides value, though it's getting a little pricey and the benefits are kinda weird now). Been able to book some amazing trips using the awards and Hotel Collection!

[@Maj.RaquelBrentsonDDS.]

Hello 👋

[@ThatCho]

The single best reason to get an AmEx is customer service hands down!!

[@markplymale]

100% Cho!

[@Wes1487]

I use my Amex Platinum bonvoy card....use it for all purchases able to stay at top tier resorts like the ritz with very little effort.

[@crackkillspuppies]

I love Amex. They are generous with their limits. They have some great offers. Their customer support is always helpful and makes me feel appreciated as a customer. Amex beats out certain banks that are technically good because of the little things Amex does that makes me want to be loyal to them.

[@salempoor834]

The SVB board in the back 😂

[@IReapZz95]

in Europe the credit card adoption is much lower because the benefits offered by cards are pretty bad due to the aggressive legislation from the EU limiting the transaction fees charged by these cards. The lower transaction fees force card companies and banks to actually pay for the so called "benefits" instead of pushing that expense to the businesses with exorbitant fees, like they do in the US

[@hbarudi]

Better that way to reduce dependence on credit cards.

[@vanilathasukumar8839]

I use American Express in Germany mostly for the cashback opportunities it provides (0.5% to 1%). But the American Express exclusives and discounts with KLM are huge plus

[@blktester]

As a member since the mid 90's I can say the services I've utilized on both my gold and platinum card are exceptional. In addition to the literal increased attention and service I've experienced when presenting one of my cards makes me internally giggle. The "member since" notation is always noticed by merchants and produces a respectful and courteous service behavior. It adds to the joy of shopping with my Amex.

[@jirenthegray]

I love Amex. I've never seen a card company that really helps you manage your balance. They really value your business.

[@chbrules]

More than anything I like the new card bonuses you can get. I was planning to spend about$10K anyway, so I did and got back $1000! Amex has never let me down. My only issue now is that my Chase cards give me far more bonus points to use.

[@cancelled_user]

Here in the UK, Amex gives 0.5% cashback on their credit card while Chase UK gives 1% on their debit card, but only for the first year.

[@Cyb3rCl3ric]

I’ve been a proud Amex cardholder since 1999. Amex Platinum since 2003. Absolutely love it!

[@rabbit251]

My wife owns her own company and makes a relatively good income. She never heard of AmEx until a few months ago when she went to very swanky hotel here in Tokyo to meet a friend. My wife asked why she was staying at such an expensive hotel. He friend told AmEx paid for it as a benefit. My wife called and got us both cards. Even though we been married for 15 years, none of the Japanese banks would issue me a card because I'm a foreigner. AmEx gave me a card. And we can use it anywhere here in Japan. Even our local supermarket accepts it. Haven't found a place yet that didn't accept it in Japan.

[@kitten82d31]

I had an american express card bout 10years ago loved that card. I lost my job & was in & out of the hospital and could not make payments anymore so they cut my card off. I probably could never get another card even if I wanted one.

[@mn2454au]

Amex is my fav card to use!! Amazing customer service!

[@pinBin25]

Really interesting video. I totally misunderstood their business model and thought of them being similar to V and MA. Thank you!

[@gplez91]

My AMEX Gold card’s welcome bonus just bought me a $3500 flight at the front of the plane to Budapest for just over 100k points. The annual fee was well worth it!