The Ugly Truth about AmEx Credit Cards…

✅ Featured In this Video:

Don't Miss A Thing:

Connect With Me:

What I Use:
➔ Why not get paid when doing your normal shopping?

✏️ My Thoughts:
Historically, American Express has been one of the most prestigious credit card providers. They've always been associated with the wealthy American consumer, had a great reputation for customer service, and come with a certain "prestige" factor that other cards don't. Lately, however, things have changed.

AmEx has introduced a whole list of restrictions, credits, and rules that simply make their cards less valuable and user-friendly for the average consumer. This has led to their cards not quite stacking up to competitor's offerings like Chase and Capital One.

Stick around for this in-depth AmEx analysis, in which I evaluate cards like the AmEx Green Card, the AmEx Gold Card, and the Amex Platinum card, discussing the value that they're currently bringing to the table and what the future looks like.

⏰ Timestamps:
0:00 - Intro
1:37 - Problem #1: Competition
4:20 - Problem #2: AmEx Coupon Book
8:04 - Problem #3: Credit Usability
9:57 - Problem #4 & #5: Restrictions
12:09 - Disclaimers

🚩Advertiser Disclosure:
This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned and has not been reviewed, approved, or otherwise endorsed by any of these entities. Offers are current only as the time of the video publishing date and may have changed by the time you watch it.

Capital One:
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Hertz:

[TheRDGuarantee]

📝Just launched a card consulting form!

[soapa]

Eh, I just see Amex like I do any of these other banks, as tools to use. Pick the right one for your situation.

[Brahzzers]

Amex gold is perfect for me. Since I'm military and don't have to pay the annual fee, and always eating out and buying food, and using Uber, JUST GET A CARD THAT FITS YOUR LIFE STYLE

[misssa]

You make valid points....but for those who travel and value the lounge access (especially centurion) the platinum still works out...The uber eats credits from amex are best when you select pick up rather than delivery....u were already going to starbucks anyway so in your example select pick up.

[ryant]

Great timing on finding this video. I was just about to confirm i wanted the gold card. Ill be sticking with my chase trifecta and VX setup for now.

[aMissAdventure]

nice video. love the breakdown.
While I don't regret having my AMEX, the customer service has become deplorable. And I miss the amazing coupons they used to have

[parkerbelholland]

Yeah, I started w/ Gold a while ago since like 07 and have been complacent about keeping it. I think I originally got it for Costco use, but that dynamic and partnership has long been dissolved. I'm terrified of the credit hit, so I may just downgrade to green.

[VernonEmerson-wf]

I have had my American Express credit card account for over 38 years now! It was the first credit card I believe I ever got now I have many. Lol but I will probably always still keep my American Express credit account open still!

[ChiTownTx]

Amex has been getting high off their own fumes lately. With the gold card recently being raised to 325 it's off to the chase ecosystem I go. The coupon book style of discounts just isn't worth it for me anymore.

[stephenwright]

I’m down to 1 Amex business card. I’ve cancelled the others or never got them because it didn’t fit my spending. I don’t need prestige through a spending tool.

[GVTSableyeColection]

what about the business cards with no annual fee?

[chrisallen]

I have a Gold card and it's a pain dealing with the "bonus". I have a Chase Reserve card and will never get a Platinum card, I don't shop at Walmart!!

[savillecreations]

I have the Amex Reserve. As a frequent Delta flyer, the Sky Lounge and Amex lounge is important enough to me that the $650 annual fee is worth it. Plus I like how I get Priority boarding and upgrades in seating when available. The other perks are nice but those are the important ones for me.

Thanks for the comprehensive video.

[Michael-qsyd]

Correction on the downgrade of the AMEX travel cards: you can downgrade to the old traditional green card with the $0 annual fee. The only thing is that you won't be able to accrue MR points with that downgrade.

[callmeNeno]

I am burnt out; I won’t be applying for any cards this year gardening for 1 year and half 2025. Only two cards I am interested in and I am done: Chase Ink Cash & CSP. Currently & exactly at 5/24 at the moment.

[curmudgeonextraordinaire]

The Blue Cash Preferred is still a great card.

[L-Man-Gaming]

Don’t know what the banks are waiting for, a lot of these cards need refresh. Plat and CSR I’m looking at you.

I guess once Wells releases the Journey Beyond maybe then we will see some refreshes but this is embarrassing for the banks.

[lewis]

Very well done brother. As great as AMEXP is, it loaded with what I call " ghost credits", meaning it there for advertisements mostly, not for use.

[Sci-Fi_Fan]

I give you props for this video and telling it like it is. I just cancelled my AMEX PLAT card after holding it for the last 4+ years. It was time. I'm tired of the coupon book strategy and would rather have a more flexible setup.

Lounge access was the most important aspect that I will miss but Chase will have a lounge opening within the next few months at my home airport thus sealing the fate for me renewing my PLAT card.

Get it for the sign on bonus, enjoy it for the year, and keep it moving afterwards, lol.

[michaeleaverly]

For the platinum the Walmart credit also includes Paramount plus. Also the 200 credit can be used for the hotels for 2 night stay required (hotels in this category are generally cheaper) and the fine hotels (1 night stay required)