I’m Gen X and up until 4 months ago, used my debit card for just about everything. Now I’m team credit card and never use it for anything other than the ATM, which is rare.
Makes sense, but there are cards with no annual fee that gives you bonus for groceries. The CapitalOne SavorOne card gives 3% cashback on groceries with no annual fee.
I appreciate the review, I actually have a particular use case for this card. It’s going to be a secondary checking for me as I’ve been a chase customer for 8 years but with a recent move I’m moving to an area that doesn’t actually have any chase atms or branches so the money pass network would be very useful for me. As long as I load my account within the first 30-60 days (confirmed by CS) my account won’t close. Plus the purchase protection and MR points is another bonus.
I also see you can now cash out MR points to the checking account at .08 cents per point. Not great, but better than the .06 cents per point they give you for statement credit.
I wasted a lot of potential cashback on using my debt card damn near my whole life, my mind has been blown on how much money I left on the table 🤦🏾♂️, no more!
I have SOFI checking and HYSA but also have a HYSA with Amex. How awesome would it be to be able to get a checking account and earn points towards annual credit card fees. Now that would DEFINITELY make me change to Amex checking.
I am a Amex card holder for two cards and I decided to apply for the checking account and was approved instantly on Thursday June 30th, 2022 so was surprised that got approved so let’s see how the new checking account works for me so thank you for the video.
Sometimes the reason for what we don't comprehend is that an alternative measure had to be used to get from one version to the next. For instance, the first credit cards more than likely didn't have the same offer as they do when the research prepared for and including your video was provided. Sometimes alternatives are used when the focus of discussion is lacking, and hence changes are made accordingly based on what works best for the company's customers and users of their products for managing their personal accounts and expenses.
i have a traditional bank account (Chase) i wonder if banks like Amex debit-discover debits are good enough to make me do a full switch. i also have credit cards i use for a lot of things but debit is also good for rent payments and other bills that won't take CC or that small shop and earning points on a debit sound good but with no physical bank to go makes me think about it.
I’m a millennial and I haven’t used my debit card for a transaction in over 15 years. 🤯 my only set back, is while working in a cash heavy industry, I wish there was a brick and mortar atm to deposit to them. I guess I gotta keep citi a bit longer
Amex has been very generous to me. In the 6 months that I’ve been a customer with them, they’ve approved me for the Platinum, Gold, Green, HH Surpass, BCP, BCE, and BB+ with high limits on all except the $5K for BB+, which is still great considering I haven’t established my business yet. So I just opened an Amex checking and HYSA after using the “Try Savings Calculator”. Linking my existing banks and transferring funds was easy. And I’m hoping that my continued relationship with Amex with enable me to get a 5th credit card.
Seems really good however it's not there yet for me. Im 100%, staying with capital one as my main, chase for my business, & Yotta for my savings. I'll be closing chime, & Sofi
Wow can't believe never heard of this. Did you make a video on American Express checking vs Schwab checking? Schwab doesn't have a atm network like allpoint or money pass instead they just reimburse you for everything.
I can't get the Amex Personal Checking account because I have an Amex Business Checking account 🤷🏾. Their words not mine. The Business Checking account earns MR points as well now. I also have the Schwab debit card
I wonder how many MR points I will get for One $3 purchase Two $3 purchases (same statement) Three $9 purchases (same statement) Two $3 purchases (different statements one day apart) I'll find out!
I got this card, and my first 3 attempted transactions after activating all failed. I have read elsewhere it has to do with systems thinking it is a credit card and categorizing it wrong. I don’t know if that’s the case or if that issue is still happening, but I haven’t used my Amex debit since, and have not yet had a successful transaction.
Good review Kevin! Can you (or anyone else) confirm this card can be used for mortgage payments (pennymac to be specific)? Any info would be appreciated!
Let me raise a question. I am a NRA and not residenting in US right now. I have not even applied for an ITIN yet. I heard that any person who had held AmEx credit cards fo more than 3mo can apply for the check account at American Express National Bank. I have now a AmEx Debit Gold with BIN for AmEx Credit Card in Thailand, am I qualified for the check account? If so, how can I get an ITIN asap? I do need a US-based check account in order to make securies transactions in like Nasdaq.
The Platinum, Gold, and Green cards are not consumer cards. The everyday cards, etc. are the consumer cards according to Amex reps. I hope Amex savings account increases the 1.0 to 1.20 like capital one or better. Charles checking I heard is better as well, but I am excited about these accounts and the possibilities in the future for game changing improvements.
I happen to pay rent with a money order, so I can use this card to earn MR points paying rent and certain utilities, and if possible pay off cards with the checking account and get more points that way ?
You won’t earn point on paying off your other credit cards because chances are you’re paying via ACH. If your landlord/apartment complex accepts American Express debit card payments (***not payment using your account and routing number because that won’t count and make sure they do accept AMEX before opening the account) then in that scenario you will earn points on your rent and/or utilities.
I wonder if I used this card to pay off credit card bills would it also earn points cause then that’s technically an extra .5 x points for every purchase I make on the credit card and pay it off with the Amex checking account
@@KevinYang thanks 🙏🏽 it just sucks when you want all the referrals bonuses literally can’t find anymore I know to use my link since my family is so don’t really like credit cards , probably being because they already had misused them in the past
@@isiahdeadpool5907 There are sites or forums out there that let you enter your referral code, and whenever someone wants to use one, it takes one from the pool. Not sure how likely, but those do exist!
@@KevinYang The green metal credit secured card they provide is great. That one card has help put my credit score in the mid 700s. Plus Chime checking provides $100 spotme if your balance is too low to cover transactions. No other checking account provides that.
I’m here from the future, the card sucks complete ass. It doesn’t run as debit. It can only run as credit in which case you could use a much better rewards based card.
I’m Gen X and up until 4 months ago, used my debit card for just about everything. Now I’m team credit card and never use it for anything other than the ATM, which is rare.
Welcome to the credit card side!
@Shawn S Absolutely!
I forgot that I have a 2 debit cards. 🤣🤣
Yeah I'm the same way, aslong as we pay in full at the end of the month we can't go wrong
Gen X probably doesn't use the Gold for groceries because it has a $250 annual fee. Most people are afraid of annual fees vs a free debit card.
Yeah definitely agree, though I'm afraid most people stop at the annual fee even if they would've actually made use of all the benefits of the card!
Makes sense, but there are cards with no annual fee that gives you bonus for groceries. The CapitalOne SavorOne card gives 3% cashback on groceries with no annual fee.
@@vanessaward7687 Yes! That's a great one as well!
@@vanessaward7687 Citi Custom Cash, no annual fee, 5% cash back.
I appreciate the review, I actually have a particular use case for this card. It’s going to be a secondary checking for me as I’ve been a chase customer for 8 years but with a recent move I’m moving to an area that doesn’t actually have any chase atms or branches so the money pass network would be very useful for me. As long as I load my account within the first 30-60 days (confirmed by CS) my account won’t close. Plus the purchase protection and MR points is another bonus.
Sounds like a great plan!
Got a question, any pros to staying with chase checking I’ve been with them for 4 years or should I switch to Amex checking
So you have to be an American Express Credit card user to get a checking account?
High yield savings is around 4% now! Fantastic!
I also see you can now cash out MR points to the checking account at .08 cents per point. Not great, but better than the .06 cents per point they give you for statement credit.
Yup definitely a small step up, but imo if you're going the Amex route, cashing points out like that is probably not the route you're looking to go
@@KevinYang true, but still a better option if travel isn’t isn’t in the cards and you don’t have the Schwab Platinum.
@@curmudgeonextraordinaire1884 Yeah if travel isn't a main part, and you need the cash, then definitely, at least that's a way out!
they should make it 1 cent per point it would make a lot of people open an account. sometimes you need the cash and not 150k+ amex point sitting lol
I wasted a lot of potential cashback on using my debt card damn near my whole life, my mind has been blown on how much money I left on the table 🤦🏾♂️, no more!
I have SOFI checking and HYSA but also have a HYSA with Amex. How awesome would it be to be able to get a checking account and earn points towards annual credit card fees. Now that would DEFINITELY make me change to Amex checking.
I am a Amex card holder for two cards and I decided to apply for the checking account and was approved instantly on Thursday June 30th, 2022 so was surprised that got approved so let’s see how the new checking account works for me so thank you for the video.
Amex is pretty liberal with their approvals for their banking accounts
how did it work out for you?
Sometimes the reason for what we don't comprehend is that an alternative measure had to be used to get from one version to the next. For instance, the first credit cards more than likely didn't have the same offer as they do when the research prepared for and including your video was provided. Sometimes alternatives are used when the focus of discussion is lacking, and hence changes are made accordingly based on what works best for the company's customers and users of their products for managing their personal accounts and expenses.
i have a traditional bank account (Chase) i wonder if banks like Amex debit-discover debits are good enough to make me do a full switch. i also have credit cards i use for a lot of things but debit is also good for rent payments and other bills that won't take CC or that small shop and earning points on a debit sound good but with no physical bank to go makes me think about it.
I’m a millennial and I haven’t used my debit card for a transaction in over 15 years. 🤯 my only set back, is while working in a cash heavy industry, I wish there was a brick and mortar atm to deposit to them. I guess I gotta keep citi a bit longer
Yeah that is a bit unfortunate of a situation..
Amex has been very generous to me. In the 6 months that I’ve been a customer with them, they’ve approved me for the Platinum, Gold, Green, HH Surpass, BCP, BCE, and BB+ with high limits on all except the $5K for BB+, which is still great considering I haven’t established my business yet. So I just opened an Amex checking and HYSA after using the “Try Savings Calculator”. Linking my existing banks and transferring funds was easy. And I’m hoping that my continued relationship with Amex with enable me to get a 5th credit card.
AMEX has removed the 9 transactions max on their HYSA
Seems really good however it's not there yet for me. Im 100%, staying with capital one as my main, chase for my business, & Yotta for my savings. I'll be closing chime, & Sofi
Definitely not for everyone!
can i know why you’re closing chime and sofi?
Wow can't believe never heard of this.
Did you make a video on American Express checking vs Schwab checking?
Schwab doesn't have a atm network like allpoint or money pass instead they just reimburse you for everything.
I can't get the Amex Personal Checking account because I have an Amex Business Checking account 🤷🏾. Their words not mine. The Business Checking account earns MR points as well now. I also have the Schwab debit card
I wonder how many MR points I will get for
One $3 purchase
Two $3 purchases (same statement)
Three $9 purchases (same statement)
Two $3 purchases (different statements one day apart)
I'll find out!
I got this card, and my first 3 attempted transactions after activating all failed. I have read elsewhere it has to do with systems thinking it is a credit card and categorizing it wrong. I don’t know if that’s the case or if that issue is still happening, but I haven’t used my Amex debit since, and have not yet had a successful transaction.
there's a $250 sign up bonus right now with qualifying direct deposit
Good review Kevin! Can you (or anyone else) confirm this card can be used for mortgage payments (pennymac to be specific)? Any info would be appreciated!
Let me raise a question. I am a NRA and not residenting in US right now. I have not even applied for an ITIN yet. I heard that any person who had held AmEx credit cards fo more than 3mo can apply for the check account at American Express National Bank. I have now a AmEx Debit Gold with BIN for AmEx Credit Card in Thailand, am I qualified for the check account? If so, how can I get an ITIN asap? I do need a US-based check account in order to make securies transactions in like Nasdaq.
The Platinum, Gold, and Green cards are not consumer cards. The everyday cards, etc. are the consumer cards according to Amex reps.
I hope Amex savings account increases the 1.0 to 1.20 like capital one or better. Charles checking I heard is better as well, but I am excited about these accounts and the possibilities in the future for game changing improvements.
Competition is always great for the consumers!
@@KevinYang saving is at 1.9% now!!
@@acaza1234 Wooo!
I happen to pay rent with a money order, so I can use this card to earn MR points paying rent and certain utilities, and if possible pay off cards with the checking account and get more points that way ?
You won’t earn point on paying off your other credit cards because chances are you’re paying via ACH. If your landlord/apartment complex accepts American Express debit card payments (***not payment using your account and routing number because that won’t count and make sure they do accept AMEX before opening the account) then in that scenario you will earn points on your rent and/or utilities.
1k subs LFG!
Thanks for supporting the journey!
Hi Mr. Yang, does Amex do a credit check for the checking account?
No!
You cant even use AMEX everywhere so how can this possibly be the "best" debit card
It will be fun to use this at businesses that will only take a debit card 😄😄
Can you get this card if you don’t have any American Express products
No
@@Rockefeller_usa I see thank you
Is there any way to have both personal checking and business checking both?
Place one on your social and the other with your business tax paying Id
I wonder if I used this card to pay off credit card bills would it also earn points cause then that’s technically an extra .5 x points for every purchase I make on the credit card and pay it off with the Amex checking account
What about depositing cash?
Do they give horizontal cards?
hey, can i Earn MR paying of my credit card
Yes
@@Rockefeller_usa thank you, did it work?
I am GEn Z, but i'm really advance on credit card game , i got the Platinum with 150k points after 6k spend
same i’m 19 and have the gold and plat
An amazing card and offer!
@@isiahdeadpool5907 Congrats on being way ahead of the game!
@@KevinYang thanks 🙏🏽 it just sucks when you want all the referrals bonuses literally can’t find anymore I know to use my link since my family is so don’t really like credit cards , probably being because they already had misused them in the past
@@isiahdeadpool5907 There are sites or forums out there that let you enter your referral code, and whenever someone wants to use one, it takes one from the pool. Not sure how likely, but those do exist!
thanks
I'm sticking with Chime.
That's a popular one for sure! What's your favorite part about it?
@@KevinYang The green metal credit secured card they provide is great. That one card has help put my credit score in the mid 700s. Plus Chime checking provides $100 spotme if your balance is too low to cover transactions. No other checking account provides that.
I’m here from the future, the card sucks complete ass.
It doesn’t run as debit. It can only run as credit in which case you could use a much better rewards based card.
wdym?
I figured. Probably because it has AMEX on it and they would instantly assume it as a credit card.
Just wished they offered for non members :(
Hopefully soon! I don't think they excluded non-Members just because, but because they want to slowly release!
What are your thoughts about our idea where you can add any card you have to our rewards program and start earning bigger cash back?
Quiero uña debut card American Express