10 Amex Mistakes That 90% of People Make

In this video we are looking at 10 American Express mistakes that people commonly make when using Amex credit cards. These 10 Amex mistakes could cost you extra money or force you to leave value on the table with cards like the Amex Platinum card, the Amex Gold card, and many more. No matter what American Express credit card you prefer to have in your wallet, I’m sure there are some mistakes in this video that you didn’t know about!

American Express credit cards are some of my favorites because of the many features and benefits that they have. Some Amex cards even earn Membership Rewards Points which can be super valuable when redeeming for travel! But many Amex credit cards are also expensive when compared to credit cards from other issuers, so if you’re using them the wrong way then you are probably missing out. Hopefully talking about some of these Amex mistakes that I’ve learned about over the years will help you to learn something new and allow you to get even more out of being an American Express customer!

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The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.

[SpencerJohnsonOfficial]

I always try to tell people that the only way these high annual fee cards make sense is if you NATURALLY get positive value from the credits on them. If you have to force yourself to use the credits, then those cards may not be for you. Super helpful video Daniel!

[SkySushii]

0:37 take advantage of annual fees waivers and reductions
3:17 don't overvalue credits offered
5:06 maximize your welcome bonus
7:13 transfer points carefully
9:16 try not to redeem points for hotels
10:15 nor for statement credits
12:20 get the right cards for you

[MattWelterOfficial]

The overvaluing the credits mistake is soooo important especially with American Express Cards, because while there is a ton of value that you could potentially get from all of the Credits on the AMEX Platinum or AMEX Gold, you need to make sure that you are valuing those Credits and expenses that you would have actually made anyway, or in other words, your effective fee. Great video here Daniel!

[jacobrios]

If you are active military, a huge tip is that they even waive the $175 authorized user fee every year. So you, and three others can all have the card perks for no cost.

[TheRenegade.]

I’m currently active duty in the AF, and I have both the Gold and Platinum Charles schwab card and both fees are indeed waived.

[ronaldcrawford]

This is a terrific no-fluff video on the topic. Good job. 💪🏽

[MKJustin]

Fees are also waived for military spouses as well. Best way to double up on benefits

[teddymasters]

A tip that I’ve been doing is breaking down annual fees into monthly installments. For the platinum I put away $60 per month into a special saving account (technically just a bucket in ally bank) that way when I get the AF I actually get 20 ish dollars to use. It makes budgeting way easier and no stress when fee time comes around

[babs]

I got 90, 000 membership points on my Amex gold! That’s pretty good for that card given the average that I found was around 50k-75k

[christianboone]

Hi Daniel, Im currently Active duty with Platinum and Gold both waived. Something amazing is the annual fee is waived for good as long as you opened the card while active duty under MLA/SCRA. People get several platinum cards from upgrading gold cards and the annual credits stack on!

[domdrty]

I never used Uber eats before I obtained my platinum card. However, i use it for carry out once a month. Saves me cost when I was going out to eat anyway.

[EthanPatrick_CreditCards]

Great content and editing Daniel. Love the newer style.

Also your tip about calling to see if there are any retention offers applies to most credit card companies.

[SledgeIncTeam]

It doesn't help that there's a lot of misleading information on credit card credits on YouTube... Good info as always Daniel

[velvetpouf]

You saved me $150 off the annual fee on the Platinum as I have an AX Corp card! Well done!! Subscribed/Liked! Super helpful!! Throwing you a referral on the Rakutten link!

[hardikrathod]

Called Amex and saved $150 in annual credit even after had already opened platinum card - thanks ! Easiest 5 mins on phone to save money

[LLTization]

Thanks, have to listen again as this was fast and requires an attentive ear!

[meganzaratzian]

Thanks for sharing the corporate credit program! I have been debating between the blue cash preferred and blue cash everyday and that extra credit convinced me to get the preferred!

[elijahschmitz]

I signed up for the Amex platinum with the 125k bonus offer. 2 days after I received my card I got a offer in the mail for 150k. That stung quite a bit. Wrote support and hoping if I'm lucky I'll get the matched offer. The timing could not have been worse.

[tvkeneth]

If your AMEX Platinum card or other AMEX account was covered under military SCRA or MLA rules, your fee as a veteran should be continued to be waived for a few years after you leave active duty service. Any new Amex cards you open after leaving active duty service will not be annual fee waived.

[marktcoleman]

Thanks - you just saved me $150 with the personal card annual credit. Never knew about that