How to Replace the American Express Gold card!
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- เผยแพร่เมื่อ 18 มิ.ย. 2024
- #americanexpress #amexgold #bilt #citibank #credit #creditcard
I have no intention of replacing my American Express Gold card but here is an academic exercise on how I'd do it if I wanted to dump my Amex Gold card.
A combination of three Citi Custom Cash cards and the BILT Mastercard in my opinion is a very solid replacement option.
I'd appreciate your support of the channel by using my card links:
cards.bumacompany.com
Website: bumacompany.com/
Travel Channel: @RichardDebs
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Most "creators" are don't create..they regurgitate. But Rsquared is creative, innovative, and has actual travel experience.
Ok, you're officially my PR guy!! It's an upaid gig but it's yours hahaha!
Thank you
I just canceled the Amex Gold after 35 years. Not even a retention offer from Amex… thank you for the video!
There in lies the issue, credit card issuers see us as just numbers which is why we need to get value else cancel. Bravo to you!!
@@RSquared-travel-rewards thank you
So much! I’m not going to lie, it hurt a little! 🤣
Wow! 35 years with the Amex Gold card? WOW Just WOW! What was the Gold card annual fee when you first got it back in 1989? I upgraded from Green last year and have had it about 6 months now. I might wait another 13 months to cancel it if I don't get a good retention offer so they don't claw back my upgrade "bonus" from Green. I have at 3x on dining the Bilt, Freedom Unlimited and Bilt Mastercard as well as a Custom Cash that I can use for dining. I want to get the SavorOne next. For dining, I can also get the Freedom Flex when I'm out of 5/24 jail next year. For Groceries, I have the Blue Cash Everyday that I can upgrade to Preferred and its still cheaper than Gold if I prefer with no pun intended to get Cash Back in Rewards Dollars on groceries instead of 4x MR points on Groceries and its $95 a year the the BCP instead of $250 on Gold. even though the cap is $6k at 6x on groceries before dropping to 1x on the Preferred as opposed to the $25k on Gold cap on groceries.
Folks, this is some S-Tier strategy. Get this man to 1,000 subs already!
Awesome practical tips in here man! The Amex gold never seems to fit my setup as I get 80% of my groceries at Costco and don’t eat out very often. I also have too many juicy SUBS on the horizon to go through CITI at the moment too but the gift card idea + custom cash to keep from going over the $500 5x limit is a great workaround for that super likely pitfall. Going to keep that idea in my back pocket!
Thanks FatStacks!!
Cool that you only go for the cards which fit your lifestyle rather than just having the card for the sake of having the card. It's all abut SUBS so continue to play the long game and get those points.
Very good video Sir! I came here from the Citi Custom Cash video you did! Have a safe and blessed week! 😊👍
Glad you enjoyed it! Thanks for the support 🙏🏼
What I'm doing.. Chase Inc Cash, buying Visa Gift Cards at a certain office supply store, which will get 5x., but only when they are on sale. I don't have the AMEX Gold, but may get it for the 90K sub if still available after I hit 5/24... but no rush to do so
Nice one Ben! If you can get a 90K sub, definitely go for it. I'm not a fan of chase because of the 5/24 rules. I can't be bothered with them. I own the Sapphire Reserve and their amazon prime but that's it. I expect that I'll get around to their Biz Cards eventually but the freedom cards don't hold much value for me at the moment.
@@RSquared-travel-rewards Waiting on a higher sub for the Sapphire Preferred as I already have a Venture X, but may just stay on the biz cards if I can generate enough spend and no current need to transfer points. Agree that the freedom cards are not much value for me, or even the amazon prime, but I think you can get that after 5/24.
Interesting take Richard! Love these different perspectives!
How have you found the Citi travel portal and transfer partners?
Finding more value vs a Chase or Amex etc?
Great video man, thanks for recommending it!
The Citi Portal is fine but I use it just for the transfer partners like Turkish Airlines, Emirates, JetBlue and FlyingBlue.
My destinations for the moment are the middle east, Africa or the Caribbean so these work well for me. Oh, I stay at Choice hotels in a pinch when just looking for a clean room domestically so the 1:2 transfer rate between Citi and choice is perfect for me.
Thanks for watching.
US bank has a 4 points on dining card
The Altitude is a nice card for almost everyone. Given that I'm in the credit card game, I always want the option to transfer points earned to a travel partner to get the best value whenever possible. However the Altitude is great for dining for 95% of the people.
In my second year of having the Gold , I will cancel and replace it exclusively with my Verizon Visa Signature card 4x on groceries & gas and 3x on dining and take outs . No cap, no foreign transaction fee and no annual fee
Not a bad setup. I happen to prefer MR and Citi points but your setup is good.
Excellent
Hey, glad you enjoyed the video!!
Way too much effort for folks like me who work most days and have a family. Having said that, I totally thought about something very similar. In the end, I say...stop fighting the Amex Gold (at least until Amex changes the game and increases the annual fee).
Lol! I totally get that this is not everyone's cup of tea. I just love the game so I put in the time 😊
Do most GCs code as groceries for the Citi Double Cash card? Its kind of a hassle to experiment case by case. Would be great to see if anybody knows what major grocery chains this works for. Thanks!
I assume that you mean the Custom Cash. All standard supermarkets will code correctly. I've used my OG Custom Cash at numerous supermarkets and have never experienced an issue with earning 5X. I assume that Walmart, Costco and BJs would NOT qualify.
There is no experimenting needed with Citi's supermarket coding. I've used the Citi Premier in Africa, Europe and the Caribbean and the supermarkets always code correctly.
Hmmm, interesting. Have you thought of adding a citi rewards + and linking it to your other citi cards to eke out extra earning? As always a 👍 from me.
That's my long term Citi strategy but I have a waiting game going on with Citi. They continue to deny me for the Double Cash and I expect the same with the rewards +.
I'll be applying once again in July.
Curious on what Citibank's new premium travel card will be. I need to see higher multipliers.
They're coming 🤣. If it is rock solid, Citi might end up being my preferred card issuer.
Very well done, something to think about depending on the af increase coming and or if there's another credit unlike "the equinox credit", of which I call a "ghost" credit.
I'm guess that the next Gold increase will be to $295. Honestly, I don't believe that most folks with the Amex gold know very little about the credits so bumping to $295 with your ghost credit (nice term btw), will be pure profit for AMEX.
Your videos are unusually high quality for a small youtube channel. Just curious, do you have a media background or anything?
What do you mean? I have over 900,000 subs. Wait, I assumed all along that the last 000 were cut off for display purposes 😂😂
Thanks for appreciating the quality of the videos. I do try to produce a quality produce especially for a subject that most might find dry. I have a travel channel which I started at the end of 2022, @richarddebs, which is a tad bigger at around 12,500. I do have some technical design chops, but my day job keeps me busy so I'm lucky to be able to post once a week. I however decided in December that I'm going to seriously try to grow both channels so I hope you've subscribed and will also subscribe to @RichardDebs
We know that folks don't like to be the first to subscribe to tiny channels, they play the waiting game 😊.
😎
Hey man, just wondering but for my setup I have the SavorOne, CFF, CCC and Discover card. I was just wondering for my situation and setup if I had maxed out the CCC 5x for groceries for example it would be best to use the SavorOne to get the 3x back rather than the 1x back unless the Discover or CFF has groceries for a 5x category. Also the SavorOne has that "unlimited" 3x on groceries. Just wondering... Thx for responses and have a safe blessed Memorial Day! 😊
Yes. Never intentionally settle for 1X if you can help it. Get a gift card from your favorite supermarket to ensure that you never go over the $500. Then use the next best supermarket card. Given that I'm a traveler first, I'd use the CFF when the offer is there then the SavorOne because of their ability to pair with the CSP and VX
I love the game and I love Bilt. But I also love Gold and do not mind monthly credits. Your take is very interesting and I don't mind the work you put in so I will definitely consider it. Oh you know what else I love? Citi CC. Basically, I love everything you mentioned!
It really is a game and we should all play to win and not let the credit card issuers get us with fees and interest etc. But yes it takes work but I don't mind 1 bit. If you're indeed in Manhattan, BILT rocks!!
I like your Citi card setup better. Amex gold still comes with a $250 AF. I don’t like Bilt because I have to use it 5 times a month to get the points. If we’re being honest, most people with the gold card don’t spend enough to justify the card. They rely on the cards credits to justify it. I prefer simplicity.
If you use it for rent, then were just talking 4 additional purchases. It offers cell phone protection so if you use it to pay your cell phone then we're down to just 3 additional purchases.
However, using the cards 3x multiplier for regular dining makes it easy to rack up 5 trans/mo. Micro purchase at cvs, walgreens or a convenient store to buy gum or a bottle of water makes it super easy to get 5 transactions in a given month. Does it take management for most folks? Yes! In my case it doesn't because my phone and rent are on the card, and I go to dunkins/starbucks a few times a month. That's all without including actual restaurant visits.
You're spot on about the Gold card's usage. I've been trying to get my mom to downgrade and just get a savor 1 but she loves her gold card 😂
@@RSquared-travel-rewards 🤣🤣🤣 women loves gold, good luck trying to get your mom to cancel. I have a mortgage, Bilt is not working for me. I use chase for dinning.
Just buy some coffee or gum not that hard
So.... How do I get three custom cash cards? I have one already but do ask my wife to apply for one and then make one of my kids an authorized user on one of our accounts?
Cute when you bring in the kids :). Since you have 1, you will need another Citi card like the rewards+ or premier or double cash that you will then convert into a 2nd custom cash in time. The conversion process takes time. You will likely have to hold the other Citi card for 1yr prior to seeking the conversion. Your wife can apply for a custom cash on her own, then you become an AU on your wife's account for a 3rd. Note that your wife's account would just be 1 Custom Cash account no matter how many AU cards are associated with her account.
Couples should all have 1 custom cash card each. It's a no-brainer so that 1 may be used for gas and the 2nd for another of the eligible 5X categories. When the 3rd gets into the mix, it is then that you can start thinking about using all 3 for groceries because you 'd now have up to $1,500/mo in qualified spend. Nothing wrong with maximizing just 2 Custom Cash cards and then falling over to a 3X card once you get over $1,000/mo
Please create MORE strategy content like this! 💯👍🏻
Happy to do so as long as you share the videos to help grow the channel 🙏🙏
Thanks for watching and providing feedback!!
And this is why we need a company to step in with 3x Mobile Wallet that isn’t the USBAR…
Is this Strategy doable; yes. Creative; also yes. Kinda silly; also yes because why get three Custom Cash cards when one Ink Cash can get me gift cards from Office Max or Staples for grocery stores and/or wholesale clubs?
We all have our systems :)
In the video I called out that paying a fee for either a visa, mc or amex gift card is off the table because the goal here is $0 in fees if I'm to replace my Amex Gold. Then there is the added "complexity" of applying for a Biz Card for most.
Thanks for sharing your system of how you get 5X on supermarket spend!
Not gonna lie, this is pretty good. However, you didn't address not earning MR points.
Check back in the next 2 vids and you will see my full 2024 points earning strategy.
....this was a replacement strategy with NO ANNUALFEE, it's still transferable points. If you rather MR points just stick with the gold card with its af.
@@lewis20002000 Smile and say Turkish Miles? 😂😂. That's part of my 2024 strategy. BILT, Citi and CP1 -> Turkish Miles
Great content but where did you but that shirt, it looks great in that lighting.
hahahaha! I dislike shopping so chances are I bought it on Amazon. The cool thing about TH-cam is that it is acceptable to wear clean versions of the same things over and over. Problem solved 😂😂😂
There is no replacement for the Amex Gold.
Amen!! But I will be running this for a bit because I have an interim strategy for 2004 that does not require lots of MR points. Will share in the next couple vids.
15 $100 cards. Thats crazy talk. Too much card management. Too much work. Now if get reloadable cards or a website to combine like Disney has we may be talking a legit strategy. I need multiple gold replacements as they clawed back 10k points from stupid buying of $2500 Disney cards by my AU in a single day as her only purchases of the month. Not a way to fly under the radar. Zero x. 100% clawback. I’m trying to get Savor and Premier and may have to stack some Flexes.
If your supermarket offers $500 gift cards which I showed an example of in the video, that's just 3 gift cards a month. Also, I purchased the gift cards only when I go shopping and use them right after purchasing them. Whatever is unused stays in the car.
Not cool that they clawed back your points.
Do you actually find it easy to use the Citi premier 100 dollar hotel credit? Also how do you feel about Citi compared to Chase and Amex?
I love, love, love the Citi Premier and have never once use the $100 hotel credit because I wouldn't pay out of pocket for a $500 hotel room.
I don't want to bias anyone against Chase. They are super popular and their trifecta is often touted here on youtube. It is a great strategy to start out with chase. I just happen to dislike chase because of their 5/24 rule. They are many folks who get deny with a hard pull who have no knowledge of the 5/24 rule. I have 2 chase cards and that enough for me at the moment. I must be honest, chase points are valuable.
I love AMEX and I can't say enough about the Citi Premier as an awesome travel card. The low key benefit of Citi is it's turkish airlines transfer partner. I'll be talking about them in 2 vids from now that's why I'm loading up on Citi points at the moment.
@@RSquared-travel-rewards thanks for such an elaborate and detailed answer. I have thought about getting a Citi premier card to function as my grocery card, but Citi has denied me 3 times for personal cards. Currently use the Blue cash preferred and then the freedom flex whenever groceries are rotated. I do think trifecta are overrated in general. I have 4 Amex and 4 chase cards but neither is the typical trifecta cards.
I'm working on it.🤣
@@SmoothMoneyMoves This is what I think of Chase: th-cam.com/video/8cuiuUBS3Ds/w-d-xo.html
I've been denied for the Citi Double cash 3 times but I'm not giving up but will be waiting 6mos -9mos this time before trying again: th-cam.com/video/3bGBzYbvkjA/w-d-xo.html
Citi if very very sensitive to inquiries.
@@RSquared-travel-rewards good luck! I've seen your videos on denial. For me I'd have to get a Citi premier or if they come out with the strata card I'd get that too
So your strategy is to open 30 credit cards
Hahahahaha!!!🤣🤣🤣🤣🤣
As I said, it takes an army to dethrone the king 🤣
I just happen to love getting all the benefits from credit cards and enjoy the game. I expect that most will just get the Savor One and settle for 3X to replace the $250 Amex Gold. That's just good enough for me 😊
@@RSquared-travel-rewards 🤣🤣🤣🤣
I use my amex Centurion card. Usually once, then get invited out a lot. Saves lots of cash. Ha Ha fooled everyone. 🤣
hmmmm I need to determine if I believe that you actually have the centurion card. hmmm 😂
I'm calling it. Go to my website bumacompany.com and drop a pic in the chat of you holding the card in your hand. You don't need to show your face.
I just need to know if I'm interacting with a centurion card holder because I have lots of questions if you do have one.
So head on over to my website and drop a pic in the chat. 🙏🙏🙏