As an active duty military member, that $695 fee is waived!!!! For any active duty members, take advantage of this benefit. The program is called Servicemembers Civil Relief Act of 2003 (SCRA) and Military Lending Act (MLA)
@ryangrant5879
2 жыл бұрын
Aye bro as active too I tell EVERYYYYONE. Get them referral bonus haha.
@jameslucas5590
2 жыл бұрын
Only active duty? Not vets?
@jailanrayvon434
2 жыл бұрын
I’m active duty military as well definitely getting that fee waived!
@kazama850
2 жыл бұрын
@@jameslucas5590 no. Just active
@077jramo
2 жыл бұрын
@@jameslucas5590 only active duty. After you ETS/retire you will be charged
@danhood1641
2 жыл бұрын
Random tip: The Uber credit is usable towards pickup orders (which is what I usually do), so you don’t need to pay their service/delivery fees.
@virginia644
2 жыл бұрын
Yep, and you can combine it with first-time customer offers like 20% off your first order or $5 off your order of $20+
@MichelMawon4982
2 жыл бұрын
Definitely not enough
@Brenda-oq2iy
2 жыл бұрын
Not enough, but I already spend money on food.. so ...
@davemartinez4143
2 жыл бұрын
That's the way I use it
@notreal6032
2 жыл бұрын
He said that in the video dude
@MichelleMarki
2 жыл бұрын
Graham: This video is sponsored by AMEX so my annual $695 fees are waived! ... Syke!
@GrahamStephan
2 жыл бұрын
lol
@martint6461
2 жыл бұрын
Hi Michelle, What type of card do you personally like ? 👀
@MichelleMarki
2 жыл бұрын
@@martint6461 Hey Martin, thanks for asking! I like cards that give 5%+ cash back on groceries, gas, Costco, PayPal, etc, but these are rotating categories. Another good one is a travel credit card if you find yourself usually flying with one main carrier, and it helps to have travel benefits like free bags, lounge access, and car rental insurance/waiver.
@mipassionanime
2 жыл бұрын
Tell me cash app to send you money
@sk8er4lifeez
2 жыл бұрын
Lol
@Andrew_Acker
2 жыл бұрын
Literally paused this halfway through, chatted with them and got a 55k point retention bonus. Love it!
@Andrew_Acker
2 жыл бұрын
@@MarkReese Negative. Just Platinum!
@Daniel_Braun
2 жыл бұрын
Totally agree with your thoughts Graham! The Amex Platinum has become a card that can have a lot of value, but its only going to be worth it for a much smaller customer base now with the higher annual fee. Great video!
@ojames1983
2 жыл бұрын
Their annual premium cards have always been that way though and weren't meant for everyone.
@clu4900
2 жыл бұрын
For those that don't know, AMEX offers Active Duty the ability to waive the annual fee for the Platinum card for the duration of the contract. Meaning, all of these are just free perks!
@iamkevindchan
2 жыл бұрын
How?
@Smart_Think
2 жыл бұрын
Uber credit is good use it for ubereats, but graham has a point, it should roll over. They should do more like discounts and such
@MarkReese
2 жыл бұрын
Agreed 👍 Do you have the Amex Platinum Card yourself & find that you get good value from it?
@Stevek171
2 жыл бұрын
BREAKING NEWS: AmEx revamps their reward structure and lowers their yearly fee after KZitemr Graham Stephan slams their price hike and causes massive customer exodus
@MarkReese
2 жыл бұрын
Haha THAT would be awesome 😂👊 Do you have any Amex cards at the moment?
@johnkurian4529
2 жыл бұрын
the walmart plus benefit has been a game changer for me. I hated going to the grocery store and getting my items so the fact I can get it delivered for free has helped me to avoid eating out
@moneytalks5114
2 жыл бұрын
its crazy how much money
@jrobertson37
2 жыл бұрын
I am thinking about trying this perk.
@noskpain2792
2 жыл бұрын
Till you are delivered rotten tomatoes
@jrobertson37
2 жыл бұрын
@@noskpain2792 I hear you on that! I definitely wouldn't use it for meat or produce.
@jbaru648
2 жыл бұрын
Omg
@JoshS2021
2 жыл бұрын
I love my platinum card. Yes, I’m wasting money since I have no way of spending or wanting to spend money on a equinox membership so that’s $300 gone but with the hotel credit and the benefits have been huge. Also the rental car protection paid for the card last year when a rock hit the windshield and Amex took care of everything with insurance. Saved $500 from one use. Just wish we could take the equinox and change it to something else
@fturla___156
2 жыл бұрын
There's a few businesses that refuse to accept American Express, and over the years other rewards cards have out competed them. I do believe many prefer the Chase Sapphire card over the Amex, especially for business travel.
@dougpatterson7494
2 жыл бұрын
Does Chase Saphire have its own network or does it use the Visa, Mastercard or another network?
@kamilsultan1637
2 жыл бұрын
@@dougpatterson7494 visa
@tankers3656
2 жыл бұрын
F..k Chase. They can't even get a name change right and their customer service is outsourced to India. They absolutely suck
@magic4218
2 жыл бұрын
@@dougpatterson7494 VISA for most cards, but Mastercard for a couple
@adrianvilchis8113
2 жыл бұрын
THEY DO NEED TO REVAMP IT THOUGH SUCH A GOOD CARD IN ITS PRIME
@boondoggle4820
2 жыл бұрын
I was weighing whether to get the Amex platinum but I would find myself chasing the benefits trying to make sure that I was getting value on things that I didn’t really want to spend money on, and my local airport doesn’t have any of their lounges, and my goal is to spend as little time in airports as possible anyway. It’s just not worth the stress of chasing those perks to try to make sure that I get my money’s worth, but if you actually shop at those places anyway and live near an airport with a lounge, it could be worth it.
@overbuiltlimited
2 жыл бұрын
Exactly! I just wrote a similar comment. Way too much to keep track of with all of these promo plans. I now eschew them all. Need to book a flight? I fly with who I want. Hotel? I stay where I want. I like the freedom of not being “locked” into a specific airline or hotel. I used to be a Hilton Blue Diamond member because I did a ton of business travel. Two to six nights a month in a hotel. After saving up points for a year and half I had enough for two nights. Meh Another pet peeve of mine is how the airlines call their points “miles.” A thousand airline miles should enable me to get a flight that is a thousand miles. That would make it much easier to keep track of where you sit with your points.
@Jshart92
2 жыл бұрын
I’ve got the Gold card and I really enjoy it. Hopefully they don’t hike the price as much as the Platinum
@johnmorrison7205
2 жыл бұрын
Gold card sucks you cant even use it for 100% cash back I think points count for half a cent or some crap
@thevolatilitywhisperer7616
2 жыл бұрын
🗑 🚮
@ecomwithTrevor
2 жыл бұрын
@@johnmorrison7205 You need to convert then using the schwab platinum
@LCHolley
2 жыл бұрын
I’ve been thinking about getting the gold card!
@michaelhanderson-wealthcre8155
2 жыл бұрын
Get a card with a credit union. Avoid big banks. It works for me
@ThatCho
2 жыл бұрын
Never canceling my AmEx Platinum. The lounge access alone is so convenient and valuable especially if you travel several times a year with a partner. I also happen to use most of the credits from natural spending (hotels, Uber, entertainment, etc). Unfortunately, it looks more like a coupon book than an actual credit card.
@Woboito13
2 жыл бұрын
I'm on the same boat as of right now. Hopefully this does get people to cancel and lounges won't be overly packed 😂😂
@NoNo-ng9sl
2 жыл бұрын
I don't mind the fee hike actually because I enjoy the lounge access within the priority pass. But Chase has them beat in their points, rewards, and cash back system. I actually miss my Chase card since switching over since AMEX has made this a coupon card. This may be the last year I hold on to my platinum.
@jonno.alexander
2 жыл бұрын
Omg!!! Coupon card, you said it! I feel like a grandpa cutting coupons at the kitchen table when I scour for benefits on my phone to justify the annual fee and purposefully incur expenses that will be credited back.
@nubianpwr
2 жыл бұрын
@@NoNo-ng9sl I feel you
@ThatCho
2 жыл бұрын
@@Woboito13 umm LITERALLY my hope. I'm their target audience. Them trying to broaden the card to "everyone" was always a mistake imo. It simply didn't fit their biz model.
@cjmhall
2 жыл бұрын
The Equinox credit isn't as simple as getting money back on your existing membership (I checked). You have to sign up for the high tier memberships which are usually $80+ more per month than a regular membership, only to get $30 a month back. It's not worth it.
@kvirzi
2 жыл бұрын
You can use it for their online class subscription through the app, I do not think it only applies to a certain tier.
@bodyloverz30
2 жыл бұрын
The Centurion Card pays for the whole membership.
@manojreddy123
2 жыл бұрын
Exactly
@gil1373
2 жыл бұрын
Actually that’s what I was initially told by the rep from Eq. but it turned out I am getting $25 credit every month with the regular membership. That was one of the big reasons I kept my plat. card this year.
@MarkReese
2 жыл бұрын
Hey ChrisJ - yep, totally lame how they put those restrictions on it 😕 Do you have the Amex Platinum Card yourself?
@onebalddude
2 жыл бұрын
Actually just closed this card. They offered me 40,000 points before I canceled.
@onebalddude
2 жыл бұрын
@@MarkReese just the Chase Sapphire Reserve. Didn't use enough of the Amex benefits to make sense with the fee.
@bill634
2 жыл бұрын
Graham, the Platinum is a charge card, not a credit card. Shouldn't have any impact on your available credit or card length history. If it does, it's because you've turned on "Pay over time".
@geedunk13
2 жыл бұрын
Charge cards still report on the credit report. Closing it will still hurt the avg age - I use to be a loan officer and look at credit reports all day.
@samsunglg6671
2 жыл бұрын
@@geedunk13 yup 👍
@liveandletlive2894
2 жыл бұрын
Only the business Platinum is like that
@mariodearmas861
2 жыл бұрын
It still affects your credit doesn’t matter if it’s a charge card or not
@manojreddy123
2 жыл бұрын
Charge cards get reported to the bureaus too!
@ElectricIguana
2 жыл бұрын
Still makes sense for active duty military.
@jirenthegray
2 жыл бұрын
Graham, you make $6.1 million a year. $645 a year for a card is child's play to you buddy! lol :D
@liamhodgson
2 жыл бұрын
When you take flexibility, liquidity, and no fee into account, not much beats a 2% cash back card from a local credit union. All these other perks are great but not for everyone’s lifestyle
@arigutman
2 жыл бұрын
Hilarious opening, bravo 👏🏼… I wasn’t ever a fan of credit cards with annual fees, they just never really Made sense for me… however, I will say for a bit of time I had the capital one venture card to capitalize on travel points and it had the fee. Both years I simply called and said, “I never carry a balance, are you able to waive the fee?” And both years, they did… sometimes it is worth the ask…
@josephj6521
2 жыл бұрын
American Express has very high fees and most stores don’t accept AE. It has no value to me.
@josephj6521
2 жыл бұрын
I should add those few stores that do accept AE, these stores charge additional purchase fees. 🙄
@MarkReese
2 жыл бұрын
Hey Joseph - which credit cards do you use instead? 💳
@josephj6521
2 жыл бұрын
@@MarkReese visa or mc
@TdeWid
2 жыл бұрын
Interesting that customer service was not mentioned here. I've been a customer for over 17 years and the main reason is their phenomenal service. I never wait when I call in for any reason and replacement cards (if/as needed) are sent in 1-3 days depending where you are in the world. The platinum card is truly a travel card and best suited for those who travel a few times a year (at least). I have the business blue as well and no issue there either. In fact the accounts link together so seemlessly making it easy to view and track spending and share points. Also not mentioned is that additional cards can be added to an account at a much lower cost. I've thought a few times about leaving but stopped when realizing the service does have value to me and I am willing to pay for it.
@RandomFandomDragon
2 жыл бұрын
He mentioned their customer service. Briefly, but he did mention it.
@WorkHustleFreedom
2 жыл бұрын
💯 Top notch without a doubt.
@kevindao1103
2 жыл бұрын
If you’re a business owner like myself, consolidating my business banking to Amex when my community bank charged $12 a year for having a business debit card is much better.
@TdeWid
2 жыл бұрын
@@BrownTrout1238 That's actually great! If I'm paying this kind of money, I'd rather be paying for concierge and top service. I don't think this card is targeting the masses; it's aimed at a niche market.
@ErinChisman
2 жыл бұрын
I hold two Amex Business Platinums (I own two different companies) and likely won't be keeping them both, BUT the ability to get 35% of the points back on any flight booked via points on your airline of choice is a great benefit. Even better when used on any airline flying first or business class, which usually makes it cost about the same as economy after they refund the 35% of points. I use the $200/6 month Dell credits, global entry for me and one of my kids, clear, $10/month cell phone credit, and sometimes find offers that are beneficial. Like you said, it really depends on your lifestyle. IMO it will be nice when the lounges aren't as crowded when cardholders start dropping these cards.
@liveandletlive2894
2 жыл бұрын
You know you can turn the $200 travel credit into cash if you fly United
@Aragon714
2 жыл бұрын
@@liveandletlive2894 how
@darkwoodmovies
2 жыл бұрын
The airline credit is a total scam. 90% of the people who have this card will have status with the airline they travel, which means you get all of the things it covers for free anyway.
@URBANENGINEER
2 жыл бұрын
Which is why you apply it for a different airline for your personal travel :).
@bcr8tve
2 жыл бұрын
Not a scam just planning ahead.
@sha2596
2 жыл бұрын
Not always. I usually fly American, but have use sand will continue to use that credit for when I infrequently fly on Frontier.
@franklinalegria8321
2 жыл бұрын
Nope
@Aragon714
2 жыл бұрын
What do you guys do to get the $200 credit? I have a flight in a couple days with American Airlines i wonder if i upgrade my seat will that count to get the credit
@fogrunr5075
Жыл бұрын
Of the Green, Gold and Platinum cards, the Gold card is effortless to keep because GrubHubb and Uber, and the first digital $10 coupon they send you pay for it. I like efficiency. The Gold card is that. The Platinum Card feels like "The Fluff Card."
@mvalexandra2230
2 жыл бұрын
I was a AMEX member since '80, but cancelled mine when they kept raising the annual fee. They obviously did not value a long time client.
@rafitaviajes8028
2 жыл бұрын
The level of frugality on this video is outstanding.
@djmic_ez
2 жыл бұрын
I been an amex gold membership card holder for a lil over 2yrs now. I recently got an email from them about upgrading. I was on the fence but now after seeing this video I'll gladly keep my gold membership. Everything platinum offers i rarely would take advantage of.
@MarkReese
2 жыл бұрын
Hey there - Smart decision to avoid the upgrade if the additional benefits don't make sense for your situation 👍 Do you have other credit cards in addition to the Amex Gold Card? 💳
@remixisthis
2 жыл бұрын
Centurion Lounge is WAY too packed and has the worst hours (at least outside Miami). I tried to go 3x and only got in once and it was super uncomfortable. Everyone was desperate to get the free booze. I actually prefer the Admirals Lounge.
@_mhh
2 жыл бұрын
I cancelled my AMEX platinum too couple months ago before another renewal. I'm Canadian, I got NO retention, which was surprising! Your timing on new vids is great :)
@joselivingroom5951
2 жыл бұрын
How long did you have the card?
@_mhh
2 жыл бұрын
@@joselivingroom5951 2yrs
@MarkReese
2 жыл бұрын
Hey m h - What were your main reasons for canceling the Amex Platinum Card? 😃💳
@johnnylikescoffee7317
2 жыл бұрын
the rewards need to be much simpler and not target specific brands. the idea of spending to justify rewards is a big turnoff.
@jeffs.3348
2 жыл бұрын
When I called in about cancelling I was seriously going to. They offered me a waive annual fee on the AE Business card. That was awesome.
@Kushpatel9047
2 жыл бұрын
Try again next year 😉
@MarkReese
2 жыл бұрын
Hey Jeff - that's an awesome retention offer! 😃👊 How long ago was that?
@ryanlydy3602
2 жыл бұрын
PLEASE PLEASE PLEASE do not forget, Active duty military receives this card for no annual fee! It is well worth it for Military
@Hasan-bs2nv
2 жыл бұрын
My reason for never getting AMEX is because this local taco place didn’t accept AMEX and a handful of other shops I frequented.
@almendratlilkouatl
2 жыл бұрын
Tacos are life
@MichelleMarki
2 жыл бұрын
Exactly, how dare AMEX get in the way of you and Taco Tuesday!
@solascriptura-e7t
2 жыл бұрын
Tacos FTW,@@almendratlilkouatl
@MarkReese
2 жыл бұрын
Hey Hasan - makes sense if you can't use Amex where you shop. Which credit cards do you use instead?
@Hasan-bs2nv
2 жыл бұрын
@@MarkReese citi custom cash for groceries, chase freedom flex for basically everything else. I did use a credit Union card while in college.
@KrisMcCauley
2 жыл бұрын
I’m signing up with the mail offer for 160,000 points, getting 35% kicker on one airline (American) and will have 216000 American points plus centurion lounge access ( I don’t currently have the reserve) for $700 then after one year downgrading to the green free option. Would I continue to pay that much if it weren’t for the sign on bonus? Absolutely not.
@mchale182
2 жыл бұрын
I love my platinum. If the annual fee is a non-factor you can get great enjoyment from the benefits and often get the value back from travel hire already doing.
@lography6917
2 жыл бұрын
I just used my Amex points for plane tickets and saved 830 dollars and I've only had my card since summer
@justwin_247
2 жыл бұрын
One of the things I also really enjoyed on my Amex Platinum this year was the points spend with Amazon. The credits I had were enough to pay for Christmas for my family with the conversion which was awesome. Do agree the bump in annual made me think twice, however.
@Joshua-of2dp
2 жыл бұрын
But that’s one of the worst ways to redeem, ie you only get .5-.6 cents per point instead of 1-2
@liveandletlive2894
2 жыл бұрын
Sorry to hear that, but you lost serious $ in that exchange. You could've at least sold the points to someone for 1.2
@Joshua-of2dp
2 жыл бұрын
@@liveandletlive2894 How do you sell points to someone for 1.2? I have about 118K right now and I'm thinking that I'm not going to renew this coming year.
@LogosBKC
2 жыл бұрын
@@Joshua-of2dp Idk but couldn’t you transfer them to their account and just trade for cash?
@MarkReese
2 жыл бұрын
Hey Justin - awesome that you were able to pay for those Christmas gifts with your points instead of using cash! 😃💯 Do you plan to keep the Amex Platinum Card open for another year now that the annual fee went up to $695?
@brianjekel9080
Жыл бұрын
FYI, if you have Platinum or Gold, you can only downgrade to Green, which still has an annual fee
@towhomitrayconcern6512
2 жыл бұрын
I'm military and my fee is luckily waved. I don't mess with CC's too much but it's not too bad.
@cbonk2
2 жыл бұрын
Let me guess, you are not actually cancelling your American Express at all but you will talk about reasons why you might.
@iamvampyrnow
2 жыл бұрын
You can try to call the retention dept to see if they will waive the fee to keep you as a customer.
@GabrielFelipe-ee6pv
2 жыл бұрын
It is funny, in Colombia the worst franchise is American Express, Visa and Master are more used because more business accept them.
@JuneBuggJr
2 жыл бұрын
This is how I feel about my Gold card. I don't do any grocery shopping where they accept points. H.E.B nope. Walmart nope. Kroger nope. No points
@tinkerbell9396
2 жыл бұрын
I cancelled my AMEX card in 2008 because back at that time, they offered you $ 7,500 cash loan in a pinch for 🤔 think it was $200.00 yearly fee. SO after a couple of months they cancelled the offer of $ 7,500 loan SO I asked for a refund, AMEX told me "read the fine print" SO I told them 🤬🤬🤬 and cancelled my AMEX card.
@AayushSoni1196
2 жыл бұрын
"So this just seems like I'm unnecessarily spending money for the sake of using a credit before it expires." That hit me hard, Graham. That's the struggle of my life lol.
@overbuiltlimited
2 жыл бұрын
I hate credit card benefits for the same reason I hate airline mile programs, hotel programs and coupons… I have enough things to worry about in life without clouding my brain with keeping track of all those silly things. Simplifying my life (as much as one can these days) is more gratifying than saving a few hundred bucks every once in a while in a flight or a hotel.
@Profitglutton90
2 жыл бұрын
The single tear in the beginning killed me 😂 I wish I could super like this video
@GrahamStephan
2 жыл бұрын
haha thanks!
@MarkReese
2 жыл бұрын
Haha same here - brilliant intro 😂✌ Do you have the Amex Platinum Card?
@AbcdIDGAF
2 жыл бұрын
The American Express commercial at the beginning 🧍♀️…
@donaldyeater8060
2 жыл бұрын
Don’t cancel it Graham, just freeze it! I did that with my Discover after not using it for over a year.
@MarkReese
2 жыл бұрын
Hey Donald! Which Discover card do you have? 😃💳
@epistax4
2 жыл бұрын
Just yesterday I reduced my platinum Delta amex to Blue. Did it in the online chat. No more annual fee, no effect on credit
@brianm1916
2 жыл бұрын
I'm still traveling 4x a year so the hotel/lounge access are nice except I couldn't find a favorable route on American and instead flew nonstop on Southwest. Southwest was faster and cheaper. I also don't Uber, go to equinox, watch Netflix or online shop at Walmart or Saks. So this new collection of perks has very little to offer me.
@brinawidmer
2 жыл бұрын
I‘m paying 900$ a year for mine - welcome to being Swiss and get no fancy benefits in like in the US. I just have it for the rental car insurance and the airport lounges.
@nubianpwr
2 жыл бұрын
That sucks...
@roaddogg800
2 жыл бұрын
Great video. I've been comparing various travel credit cards and I've been on the fence between the Amex Gold and Chase Sapphire Preferred. I think you hit the nail on the head with your Amex assessment. For a certain urban customer it makes sense. For most of us Chase fits better.
@roaddogg800
2 жыл бұрын
@@MarkReese I've been using the AmEx Grren for the past few months and I'm really happy with it so far. But I do see the compelling offers for the Chase Sapphire preferred right now which has me considering it
@ketogenicknowledge245
2 жыл бұрын
I would NEVER pay annually for any credit card. Nope, nope, nope.
@5250ITW
2 жыл бұрын
Living life this consumed with numbers seems crazy and exhausting.
@nubianpwr
2 жыл бұрын
It is... unless you're already crazy
@ksuss5360
2 жыл бұрын
We have been members since 2015. We just got the business ink. I’ll do this on my personal cards for sure.
@OurVirtualTime
2 жыл бұрын
I love that my first commercial on this video is for this exact credit card…lol
@OurVirtualTime
2 жыл бұрын
@@MarkReese I am, one for business and one for personal. 😅
@AT-cy9uh
2 жыл бұрын
I canceled all my pay for credit cards during pandemic… no point. Bye bye Amex Gold, Chase Sapphire Reserve, and BofA Travel card… hello Citi Double Cash.
@TheGoat-qw6jb
2 жыл бұрын
Im a Marine so I’ll get these fees waived and hopefully I’ll get a flight back home for free.
@sherrryann
2 жыл бұрын
I like my entry level American Express Hilton Honors card & use it for travel + I sign up for select discounts & cashback offers that vary monthly 💳 -& it has no monthly or annual fee 👍
@WorkHustleFreedom
2 жыл бұрын
Always appreciate your insight Graham! I have to say though, I’m keeping mine. I was able to snag over 400K points just in December. Plus I love slamming that heavy, metal bastard on the table to pay. 😆
@xxbeastxx49
2 жыл бұрын
Im literally the same way, I love that big shiny silver hunk of metal
@nubianpwr
2 жыл бұрын
LMAO - true dat😄
@liveandletlive2894
2 жыл бұрын
Just snagged 300k points on the biz after stacking promos Dec and Jan now working on 500k points off the personal Feb until Mar
@cherelleroberts4316
2 жыл бұрын
🥰😜
@haashimrahman9150
2 жыл бұрын
@@liveandletlive2894 how??
@sallu2526
11 ай бұрын
Just get the welcome bonus and use whatever benefits one can get in the first year, and then close it.
@MOBMJ
2 жыл бұрын
I agree with u in some ways, over the last few years my income as grown as well as my credit and looking to upgrade to better cards. after the Fee increase definitely makes you revaluate
@alecpalvarez
2 жыл бұрын
Jokes on you I’m active duty army and our yearly fees are waived✌🏻
@michaelryan5160
2 жыл бұрын
Just a heads up, the "once in a lifetime offer" is false. I thought it was the same thing, but if you switch between the personal platinum and the business platinum you just have to wait 48 months to get the same offer. I received the 100k offer twice on personal platinum....
@socalguy97
2 жыл бұрын
Are you really saving anything? These benefits are encouraging consumers to subscribe to more services and spend more in general on things they didn’t have before and don’t need now. What’s worse is they’re charging $695 for you to be a higher-spending consumer for things you don’t need and didn’t have before. I have had this card for years and I’m canceling for the same reason you are. I’d happily pay the $695 if I got any value but those days are over.
@MitchMitchellStories
2 жыл бұрын
I was shocked when I saw that $695 charge. I called to cancel, and instead "downsized" to the business green card, which offers almost every benefit the platinum card does except for those special perks, which I never used in all the years I had that card (well, except once when I got into an airport lounge; I'll admit that was nice).
@leandromartins2217
2 жыл бұрын
Capital One Venture X is an easy no brainer option at the moment. Pays for itself annually with no need to jump through hoops.
@JackDuffley
2 жыл бұрын
4:59 legit thought those Saks Fifth Avenue shoes were bowling shoes 🎳😂
@GrahamStephan
2 жыл бұрын
hahaha
@liveandletlive2894
2 жыл бұрын
Why would you close a card as opposed to downgrade it? Won't affect your credit at all
@user-jr2vh3mp3e
2 жыл бұрын
You should make a series on every financial topic beginners need to know about to become financially literate. I bet a lot of people would watch it
@user-jr2vh3mp3e
2 жыл бұрын
@Whats-Ap ME✝①④⓪②⑧⑤⑨⓪⑥⑨⑥ shut up
@ryan17woods
2 жыл бұрын
Got me an American Express ad on this video lol
@gmacd
2 жыл бұрын
If you question a $700 fee you should not have the card.... Will make the lounge less croweded... I'm going black when I can't go PJ..Move in the right direction. Thank you Graham we love you
@MarkReese
2 жыл бұрын
Hi Ezra! Do you have the Amex Platinum Card yourself and find the benefits worth it? 😃💳
@sha2596
2 жыл бұрын
I agree, I plan to keep mine until early 2023 and then cancel. I am still making out on value but I plan to lessen my travel in 2023 and the value for me will be diminished. However, it was worth it to get that 150k intro bonus last year!
@LaybytheBay
2 жыл бұрын
I only keep it because they waive the fee if your active duty military.
@peterdamico336
2 жыл бұрын
As always great video both entertaining and informative. Thanks for keeping up the hard work!
@GrahamStephan
2 жыл бұрын
Thanks, will do!
@MarkReese
2 жыл бұрын
Hey Peter - do you have any Amex cards that you find worth keeping?
@justinruizcgcs
2 жыл бұрын
I like the statement, staggering annual fee of $695 then the description is perks and benefits easily worth over $1000 dollars
@sgonged
2 жыл бұрын
Wait...wait..wait...Credit cards companies are unhappy and raising rates? YOU DON'T SAY!!! Could it be that people are paying off debt in record numbers and cutting up their credit cards?
@taylordarion3477
2 жыл бұрын
Guys that credit card costs more than my phone monthly 😂
@dsanti4069
2 жыл бұрын
Amex plat is one of the few cards to offer emergency travel insurance /evacuation . They will airlift you and fly you out any country that you're in free of charge incase of an emergency or zombie invasion . That emergency evacuation can save your life during a pandemic .... priceless
@MichelleMarki
2 жыл бұрын
I like the sound of zombie airlift perk!
@MarkReese
2 жыл бұрын
Hey D Santi! Do you have the Amex Platinum Card yourself for that reason? 😃💳
@joshuagrant4961
2 жыл бұрын
Quick tip for any military members out there: Amex will waive all annual card fees for all military members and their spouses.
@basha0810
2 жыл бұрын
I will only do memberships w/ companies unless the fee pays for itself.
@GrahamStephan
2 жыл бұрын
:(
@MarkReese
2 жыл бұрын
Hey B Richards - which credit cards are you using most this year?
@getonwithit.2847
Жыл бұрын
In Amex defense it was not never meant to be used by the average person, as seen by the perks being offered that Graham listed.
@manojreddy123
2 жыл бұрын
Some people are still going to get it, just cause, it’s platinum and it’s cool to have it! 😂
@manojreddy123
2 жыл бұрын
@@MarkReese Yes, I do. lol. Primarily, for the lounges when I’m traveling! Btw, love your videos Mark. You’re a true credit card lover! 😃
@brandoncatanese2068
2 жыл бұрын
Some business refuse AMEX because AMEX actually defends their card holders and provides excellent customer service. Hence why only the most prestigious and reputable companies and individuals with high credit scores are accepted to receive such quality.
@ALEXCHRISFUN
2 жыл бұрын
Amex airline benefit can be used for upgrades with Delta. I tested. Upgrading my ticket to first class. And got my credit from amex.
@bcr8tve
2 жыл бұрын
It's hit or miss on that i sadly realized. It's worked for me too in the past and last year i had some bucks left so i purchased upgrade on a january flight thinking it would use the remaining credit. Nope, delta coded it as upgrade and it came outta my pocket. Bummer
@bcr8tve
2 жыл бұрын
@@MarkReese Yes the CENTURION LOUNGE perk and offers offset the fee.
@treyj4007
2 жыл бұрын
I canceled mine last year. But I have a no fee cash Amex credit card which keeps my member since date.
@livephysiology
2 жыл бұрын
Towards the end of the video Graham points out American Express is seeking their ideal customer, which explains the changes American Express has made. With this in mind, the question arises, is Graham breaking up with American Express, or is American Express breaking up with Graham? Who dumped who?
@MarkReese
2 жыл бұрын
Haha good question 😁👍 Do you have any Amex cards yourself?
@markc7575
Жыл бұрын
If you are active military, AMEX waives the annual $695 fee as well as the $195 fee for an additional card.
@AwaisM
2 жыл бұрын
Finally, clean video. No clickbait
@MarkReese
2 жыл бұрын
Hi Awais! Do you have any Amex cards yourself at the moment? 😃💳
@ayooKondom
2 жыл бұрын
No joke, I just signed up for my first American Express card at 2am last night, it’s 10am the next day 🥴
@midgerssssss
2 жыл бұрын
Great video Graham! Left this comment on another vid: can you make a video on FHA vs conventional loans for ‘house hacking’ a duplex/ triplex etc in LA?
@GrahamStephan
2 жыл бұрын
I'll be so happy if it's a 5...
@multistack1502
2 жыл бұрын
@@GrahamStephan a 5 what
@MichelleMarki
2 жыл бұрын
@@GrahamStephan a five-plex?
@Archelaus_v
2 жыл бұрын
AMEX coupon book is getting annoying. It’s like we are paying just for the AMEX brand in our wallet- especially if you are an expat overseas - most of these credits are useless . I would say the resort credit made it worth it for me this year but 2021 2020 - it was basically highway robbery.
@MichelleMarki
2 жыл бұрын
Idk, at the minimum points awarded, this Amex giving you $500 for spending $6000 is not as ideal as Chase Sapphire giving you $600 for spending $4000. It's a reward to spend ratio of Amex 0.08 to Chase 0.15. And not to mention Amex's $695 vs Chase's $95 fee. Why bother with the Amex? Are the extra perks THAT worth it?
@Davidsworldtravels
2 жыл бұрын
I love the Centurion lounges. And I put massive amounts of business spend on it.
@MichelleMarki
2 жыл бұрын
@@Davidsworldtravels Glad you get great value!!
@EmilianoCE9
2 жыл бұрын
Quick note: not everyone is eligible for a retention offer even if your account is in good standing.
@KatChou91
2 жыл бұрын
Why is that?
@lisahawkins6824
2 жыл бұрын
I said Buh Bye to the Platinum Card in 2020. I wasn’t traveling.
@MarkReese
2 жыл бұрын
Hi Lisa - makes sense to let the Platinum Card go if you aren't traveling 👍 Which card(s) are you using now?
@braskabani8011
2 жыл бұрын
Amex need to calm down with those sky high AF. When rich people start to complain about it you know is bad
@user-jy7yw5kw3w
2 жыл бұрын
My favorite Amex card isn’t even issued by them. I still like my Wells Fargo propel, fun fact tho Wells Fargo originally started American Express.
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