American Express Membership Rewards - To stay with AMEX or to go somewhere else

Well my free year is running up on my AMEX personal gold and I am trying to decide to stay with AMEX or to go. Now there are many considerations for staying and only a few to going to a VISA but unsure which I should do.

Reasons to stay:

1: They have offered me both a Plat card or Blue Cash and I am thinking if I stay I will go with the blue as I really don't travel much at this point (I originally got the gold for the bonus miles not really for the gained miles from spending). The problem with the blue is I am unsure if I will spend 6500 a year to make it worth it compared to the 2% CB VISA card.

2. I just bought a laptop and the extra year warranty from the card makes it so getting the square trade warranty not really worth it (but this is only 80dollars and still thinking of getting squaretrade so probably weak reason)

3. I actually like AMEX, they have helped me with at least one dispute (although I think BBB helped more) but overall I like their service a lot.

4. Due to the annoying dispute I have lost some of my credit score sadly and dont want to drop any more due to closing/switching cards. I would also like to keep the card open just for a longer overall account held as that is one of my weaker points on my credit score

Reasons to go:

1. Bonus miles from getting a new airline card (I like a free flight)

2. Not sure I will spend 6500 in a year

3. Would possibly like a higher credit limit



Well that seems like all, and when you look at it the reasons to stay seem rather strong, but the free flight does as well too, or if I go with the 2% card not needing to worry about spending 6500 in a year is nice as well.

any thoughts?

thanks

It seems to me that you really need to think about what you value the most.

You mention not anticipating spending over 6500 to earn the 5% CB with blue cash. And a guaranteed 2% with VISA would serve as an alternative.

On the other hand, you bring up getting miles from a new airline card. Who do you fly with? If its in partnership with AMEX you can turn those bonus MR points received from the initial Gold card set up into miles toward that airline.

Finally, a ding to your credit from a account closure within a year may hurt (i'm not familiar with the exact magnitude but it can't be good considering your recent dispute).

So in conclusion think of my opinion as this:
1.Stay: If the airline you fly with is in partnership with AMEX, think of transferring your MR points to that airline as money saved by not spending it on a flight.
2. Switch: Cash back earned will serve as funding for a flight (not free, but subsidized).

Either option will help satisfy both your needs/wants. I hope I didn't confuse you.

If you are only spending ~6K/year on the card then you aren't earning miles quickly enough to justify the carrying costs of a card, IMO. Go for cash back or something more immediate as a reward.

Well my free year is running up on my AMEX personal gold and I am trying to decide to stay with AMEX or to go. Now there are many considerations for staying and only a few to going to a VISA but unsure which I should do.

Reasons to stay:

1: They have offered me both a Plat card or Blue Cash and I am thinking if I stay I will go with the blue as I really don't travel much at this point (I originally got the gold for the bonus miles not really for the gained miles from spending). The problem with the blue is I am unsure if I will spend 6500 a year to make it worth it compared to the 2% CB VISA card.

3. I actually like AMEX, they have helped me with at least one dispute (although I think BBB helped more) but overall I like their service a lot.

any thoughts?

thanks

Just some thoughts according to the points 1. and 3.:

I have had Amex cards of different colours and had in nearly 9 years of membership everytime enjoyed their service wihtout any failures of them, always received the monthly bill in the mail and have used their card in different countries.

So I am a great fan of Amex and just would like to give you some hints according to my opinion:

1. Choose the colour of the card which is best suitable for you and for your needs. The payment procedures and stability of the processes at the cashiers-desk is extremely high regardless the colour of the Card.

If you have a sufficient limit and use your card in one month more often it is also no problem for them and for your - never had any rejected charges. ^

As I understand that airlines and German rail give cards of different colours to state the customer status I don't know the sense of colourful credit cards. So there is no real need for a highly fee card like Gold, Plat and so on.

And the membership rewards has a good point to value relation also for the seldom user "compact" or the full programme.

3. They also helped me out one time time ago when I was not really sure if in Internet My Card Nr. has been stolen due to failure of the shop. They also checked the shop's site and informed me very speedily ! That was really great. One teleph. rep. read the full statement with me on phone due to check if there were any irregularities. @:-)

So I think their service is really great when you have the card. The only disadvantage of the Card is the slow opening of a new card when you get as a new customer to them. But in contrast to some other really bad banking services (e. g. in Germany) their company is great. :-:

So if I would be in your position just keep the most cheap or the Amex Card which is best for your needs. In my opinion no need to change due to the network of accepting stores always increasing (including since about one year also the HL/Rewe supermarkets in Germany !).

So stay and enjoy the service.

Do you work for AMEX?

I dont work for amex if its me you are asking lol, I am a grad student. To everyone else thanks for the thoughtful responses but I am still stuck lol. I am thinking of transferring to the blue cash card as I do really like AMEX and honestly the amount I spend annually really wont make the difference between the 2% and the blue all that much (like 50 bucks or something). I am thinknig of also getting the AA card just for the miles and not really using it, but hopefully having it will make getting a different VISA card with ahigher limit slightly easier next year and I would get the miles which would be useful as I am currently at 10k or so on my AA account.

any thoughts?

While I am certainly not an expert in CC churning, I would bet that having several different cards and opening them anew annually is not going to help you get a higher limit nearly as much as picking a card and establishing a relationship with that company and increasing it that way over time. That won't help if AmEx decides you're a risk anyways and cuts your limit, but that's a whole different thread (or three). ;)

While I am certainly not an expert in CC churning, I would bet that having several different cards and opening them anew annually is not going to help you get a higher limit nearly as much as picking a card and establishing a relationship with that company and increasing it that way over time. That won't help if AmEx decides you're a risk anyways and cuts your limit, but that's a whole different thread (or three). ;)

That is why I am thinking of getting the blue cash and sticking with AMEX for a while. If I get an AA card or something it isn't AMEX so hopefully they wont care at all is what I am thinking. And hopefully they wont consider someone who is 100% on time for paying off full balance his entire credit lifetime a risk (mind you only 6 years or so lol) but I guess you never know

Do you work for AMEX?

Definitely not ! Just have and use their Card since about 9 years and never had any bad experience but in the seldom cases I needed them they were ready to help. :D

I think Amex in Germany has only a larger office in Frankfurt and does alls his German business from there and not from the Munich area.

Greetings and have a nice day.

Patttermj, check out this site to assist you in making your decision to stay with American Express. I know alot of people love their American Express but it seems like the company does not care about loyal customers anymore.

http://www.my3cents.com/search.cgi?criteria=American+Express