DON'T Get The Amex Gold (UNLESS You Can Handle 5 Things!)
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- เผยแพร่เมื่อ 15 มิ.ย. 2024
- You Must Consider THESE 5 Things W/ The Amex Gold..
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The American Express Gold Card has become somewhat of a controversial & hot topic over the past year or so, due to the annoying monthly statement credits, lack of significant travel benefits and available cheaper alternatives like the Capital One Savor One, sparking debate on whether the Amex Gold Card is actually still worth it.
So, in this video, I am going to go over why you should NOT get the Amex Gold Card, unless you can handle these 5 important things!
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-Matt
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TIMESTAMPS:
0:00-0:29 Don’t Get The Amex Gold
0:29-2:15 Incremental Monthly Statement Credits
2:15-4:24 Cheaper Alternatives
4:24-6:27 You Travel Internationally
6:27-8:04 No Viable Downgrade Options
8:04-9:36 Amex Points Aren’t Flexible
9:36-11:04 Why You Still NEED The Amex Gold
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What are your thoughts on the Amex Gold? Let me know ⬇
💳American Express Gold: mattwelter.info/amex-gold
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I'm still waiting for the AF increase and the semi-monthly fast food credit to appear! We all know it's coming!
Haha exactly! Not excited at all for that and could certainly seal the deal for some of not getting it or moving on from it in the future. Thanks for watching Stan!
If green card had 3x grocery, no one would be talking about gold/wouldn’t even exist. Just not a good card, pure status symbol to flex when paying at the table.
@@newagain9964 Absolutely useless card, when you can get Savor One, Citi Premier, USB AR, or Custom Cash (especially multiples).
The pic was the Blue Cash Preferred 😮
Great video!
Thanks so much Paul, appreciate your support as always!
Good stuff Matt. Once my most used card and i used the credits with no issue. In Fl, they passed a law where delivery services can't have higher prices than the restaurant charges. I ride uber too.
But somehow, I no longer have the Gold card. And i do have the SavorOne
Thanks so much Sledge! Haha a lot of people are definitely going that route and the Savor One is a great alternative for sure!
I’m excited for your international traveling lifestyle. (Watching from my Cambria corner suite in Savannah)
Thanks so much Bob! That’s awesome, have an amazing time in Savannah!
Thanks for doing this video Matt! This is helpful for me when considering to commit to the Amex Gold or not!🤝
Absolutely! Thanks so much for watching Xavier!
Good points made. Still one of my fav cards, but spend plays a big factor in getting the value from it, which some ppl don't have. I just hope whenever the next changes come, that the card doesn't get nerfed too hard.
Absolutely- yeah if you have high spend in those Dining & Grocery categories, then the Gold Card can definitely make a lot of sense, especially if you parlay that with maximizing the Credits. Thanks so much for watching Darius!
great detail, solid content! I had this card but ended up upgrading to the platinum because of of a nice promo offer...I do wish there was a better downgrade path for Amex charge cards.
Thank you so much Stella! Yeah the lack of solid downgrade options is definitely a downside for sure.
The Amex Gold has been finding less and less use in my wallet recently. I think imma keep it until they make the impending changes.
I think I'm pretty much in the same boat as you- I'm waiting to see on what they do with the Card and I'll make a decision from there, but in general, like you I've been using the Gold Card less and less. Thanks Chase!
If you're going to internationally to Asia or Mexico I'll be happy to connect with you and some of the people I know. Thank you for all the knowledge. I wonder where business gold stands there too
Thanks so much Ali! And yes absolutely I'd love to connect!
Some solid points about the Amex gold! Luckily it still fits in our wallet as we can get use out of the credits (for the most part) but if they increase the fee and add a resy credit… gonna have to rethink it lmao
Haha I'm in the same boat as you Cody! Right now, I still plan to hold onto the Gold, and am able to organically use the Credits, but that could definitely change with some future potential changes! Thanks for watching!
I'm happy with what I have. I don't need American express cards because of the annual fees. Great job on TH-cam ❤
Totally fair. Thanks for your support as always Vicki!
good alternatives but all are cash back so it's great if your team cash back or like a hybrid setup. For me I would not get the gold unless I was able to get the SUB because of course I got the Plat then 2 months later amex changed the rules to make it to where you have to go in order. so i got CSP instead. thank you for additional insight
Makes sense and yeah the new Amex family language is brutal.. thanks for watching Zack!
When I first got the Amex Gold years ago, I thought to myself how could anyone not want this card given the 4x food multipliers for a $10 effective annual fee. Now I'm aware that not everyone can organically realize the $10 effective fee and there are many other considerations like you pointed out. Awesome stuff Matt!
Thanks so much Monty! Yeah if you can organically utilize the Credits on the Amex Gold to get to that lower effective fee that's a great start. The only thing is that has become a big IF, as they can be difficult to consistently maximize. Really interested to see what changes Amex makes to the Gold Card this year as well.
US Bank Altitude Go, such an overlooked card...
Agreed! Thanks for watching Pedro!
Thank you, Matt. I do appreciate you talking about all this. I am not a very big fan of the AMEX because I don’t eat out a lot and I don’t use Uber. and the only place I really shop here in my town is at Walmart to me. That’s just easier, but I am looking at a few other cards and so I like listening to how you explain everything I do appreciate it.
Absolutely Dirk, I really appreciate your kind words! Certain Cards work best for specific people, and other cards work best for others, so my goal is to just help you understand all the facts in order to make a decision on what works best for your own situation, so I'm glad it was helpful!
I heard that you can't use the Uber eats credit outside of the United States though. Is this true?
Yes
I actually didn't know that, but that's good to know! Thanks Mark!
I work in the USA but I live in Mexico it doesn't work for the Uber here
@@merfn Good to know thank you! I'm planning on hopefully becoming a digital nomad in Latin America in the next couple of years so that's good to know. Thanks!
@@MattWelterOfficial yeah, I'm getting the states but live in Japan, so this was one of the things I researched in the past---still considering getting it though, just to send food as birthday presents to my family members still in the states 😅
I actually have a shake shack down the street from my job, and I work in Chicago so I usually take at least one Uber a month. I’ve never once used grub hub or Uber eats, so the Gold actually works out pretty well for me. I also have the Savor One and the Uber benefits combined with the Gold are insane. If the Gold does get an AF raise with a Resy credit I’ll just cancel it and go back to the Savor One, or get the altitude reserve.
Nice! Yeah that sounds like you are in a pretty perfect situation to be getting high value from the Amex Gold. Maximizing the Credits pretty effortlessly and organically is always the best spot to be in. Yeah, if we see an AF increase with a dumb Resy Credit that would be unfortunate haha. But the Savor One & Alt Reserve would be great alternatives. Thanks for watching!
We easily spend $2k or more per mth in food, so im good with the Gold.
If Dining is a major category for you then the Amex Gold can definitely make sense! Thanks for watching!
I'm only going for the SUBs with Amex smh.
Fair enough. Thanks for watching Tarrius!
But those cheaper cards don’t have the travel benefits which is what I see why most use the Amex Gold card
That’s totally fair. If the Gold Card is your main Amex Travel upside card then definitely stick with that. Thanks for watching Anthony!
Dumb card to keep unless you live in a city in the USA and have a family
That's fair- especially for maximizing the Credits & getting the most out of the multipliers.
Even then, still not a good card.
@@newagain9964- Great card for me. I live in NYC. 0 effective annual fee. I eat from restaurants and grab & go supermarket meals at least one meal a day and have racked significant points with it. Some people aren’t Amex target customers. Doesn’t mean the card is bad. There’s a card out there for everyone’s profile.
@@newagain9964 Nope, not at all. I'm going for the Citi custom trio or duo for my groceries.
👍🏻
🥇as always!
I always just pick up a meal at taco bell. No fees and just enough money to cover a meal.
That’s a great way to do it! Thanks for watching Cameron!
You missed #1 reason not to get Amex Gold... which is if you don't wanna spend money on it
Haha yeah- I would imagine most Cards wouldn't be worth it if that was the case.
lot of missing/misleading info in this video
I'm sorry you felt that way. What did you feel was misleading?
@@MattWelterOfficial for example C1 Savor One is a cash card... in order to be able to use it for travel/ transfer to partners you need another card like C1 Venture X. So you need 2 cards instead of 1 (Gold). Which means you have $395 Af, extra credits (and imo those 10K are gonna be gone by next year). You have extra hard pull and C1 pulls from all 3 agencies. Also C1 miles are not as good as Amex MR points the same goes for transfer partners ( but ymmv here). whole Amex's eco system is better than C1's. You have access to more cards (hotel cards airline cards) and mostly soft pull. You also forgot to mentioned upgrade bonuses. Same goes for Citi Cash card (5%). Its only $500/ month. Unless you single or student who lives still with your family everybody spends more than $500/ month for groceries. Same as with C1 system you need Citi Premier (xtra card) to be able to transfer to partners which has $99 AF and only credit to offset it is $100 when you spend $500 on hotel stay. Gold card has some travel benefits which C1 or Citi Cash doesn't have. Lets say you spend $20K/ year on groceries which my family of 3 spends easy you get 80K MR points but only 60K C1 miles and 44K Citi Thank you points. Of course you can argue you can use extra Citi Cash but again that means 2 cards instead of 1 and more headache. I regards of Amex BCP and 6% on groceries. Its a cash card with $95AF (hard to offset) and only up $6K/ year so you are gonna need another card. Also while its true that Amex is not accepted worldwide like Visa or Mastercard how much time regular people spend outside of US every year (not talking about somebody traveling for work all over the world) and if you are outside (vacation) how much money you actually spend on groceries in those 1-3 weeks of vacation.
@@MattWelterOfficial why was my reply deleted?
@@romineckok.9724 I didn't delete anything. Sometimes TH-cam automatically flags comments which aren't under my control.
@@MattWelterOfficial lol okay there was nothing in my comment that would make TH-cam to flag it.
Savor/SavorOne. Thanks for the info + video.
Thanks so much for watching Jimmy!