I agree. I think I have both for no annual fee. As soon as I've exhausted the four 2,500 point bonuses on each I will keep the AMEX. Using it at Hiltons nets me 21.5 pts per dollar as a lowly silver (10pts base + 5 in lieu of double dip +1.5 for status + 5 for Amex Card) on an ongoing basis. I am hoping a recent stay in Mumbai will net me 26,500 pts for $1,000 in eligible charges (21.5 as calculated above X $1,000 PLUS the 2,500 point bonus from EACH of the credit cards - I split the bill for the stay right down the middle in hopes of getting the 2,500 twice!