MORE Amex Shutdowns | Don't Do This!

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American Express starting a new wave of shutdowns to target cardholders who used PayPal Key combined with Plastiq payments.

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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

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[andygarcia]

There were a bunch of YouTubers that touched on this topic already but I don’t take any report seriously until I hear it from my mans Sebb-broski.

[dpaulfranco]

Man, that was cool. I didn't gain nor lose anything with this information but I'm impressed by how in depth that breakdown was!

[anasryadi]

I was hustling on that referral for the whole month and none of my friends wanted an Amex 🥺 That hustle turned into one chase sapphire preferred referral

[shaneruddy]

Thanks for the info Sebby! Just got approved for my Amex Platinum and don’t want to lose it because of an unauthorized charge.

[CaseyBurnsInvesting]

2:50 Thanks for getting up on that stool. It all makes much more sense now.

[PatrickRice]

Question. Can you still use plastiq to pay rent and use Amex? Or will I get shutdown?

[RK]

Manipulating Amex for points seems too complicated for me. I just use mine for legitimate purchases I know I will pay off at the end of the month.

[agravy]

So what about using it to purchase inventory for a retail shop?

[TomSramekJr]

TLDR: If it sounds like you're just getting points just to generate cash or cash equivalents, probably not a good idea.

[petersmith]

I paid all my utilities including phone and internet bills using my AmEx with no problem. I also use AmEx to pay for my new car's downpayment at the dealership with no problem.

[ColoringKaria]

Paying for credit w credit is bad just on basics.

[daroldhunter]

I think it's great that Amex has a no tolerance policy for those who break the rules, it helps to maintain the integrity of their programs for those who don't. I prefer that over ever changing terms to try and compensate for the rule breakers. That said, kudos again for teaching how to maximize value while playing by the rules.

[womanofgoldenwords]

Wait- did he say that paying your car insurance with your Amex is not ok?
I just got the platinum card and as an effort to hit my minimum spend, I put all my recurring bills on my Amex card.

[novi]

Great info, and the shaving bit was very entertaining. Thanks Sebby!

[Financial_Awareness]

I’ve stayed ‘within the box’ with Amex Gold card and have been very pleased. Great video!

[justbusiness]

So can i use my card to pay a Hospital bill?

[robertdumrauf]

Hey Sebby. Does spending on a business card help get rid of the Amex popup? I closed my personal Platinum card about a year ago after the annual fee hit, and now I only have the BBP. I put a decent amount of spend on it, but I have gotten the no bonus popup for the Gold card three months in a row. Then today I got an email from Amex for a 100K offer for the Business Platinum. Will spending on my BBP get rid of the popup, or are there separate personal and business jails? Thanks.

[JabbaDaNut]

Hi, are you sure about the car insurance? Seems i bit odd that I can't pay a bill with my own credit card.

[CubanBBQ]

So this has me kinda nervous! As long as your paying companies direct (even if they’re listed as no good) as long as you’re *not* using PayPal or plastic you’re okay? I pay most of my bills directly and quite a few are insurance related, but I pay those bills directly to the company with my Amex. I don’t use any third party or anything. Do I have any reason to be worried?

[KP]

I'm confused. I pay my mini storage rent and my apt renter's insurance with my AMEX (directly, not through Plastiq). How do those companies take AMEX unless AMEX has signed them up as a company that can take AMEX, if AMEX doesn't want me to use my card there?? Also, if I buy TJ gift cards at Trader Joe's, or another grocery store's gift cards at that store, is that allowed?