AMEX Gold Credit Card with 2% Cash Back - It was the best CC while it lasted

[Vasyl]

who knows?

well amex have converted this card for high-spenders now with that $100 annual fee.

i might really stick with the aspire if thats the case...

+1. Screw Amex. Amex went from bad to worse.

[angel_wing0]

Not a surprise considering how they're revamping most of the programs and rebuilding premium back into the name. It's a good move for the company but will definitely cut into the number of members and transactions they get.

I still have the Blue credit card w/ cash back that comes free .. might start using that one again after years of sitting in the drawer!

how they do this to screw up their best card is beyond me, premium or not.

[cadave]

This is a sad day in RFD history as the "RFD Membership Card" is no more...

[513263337]

This is a sad day in RFD history as the "RFD Membership Card" is no more...

LOL

[4flava]

This is a sad day in RFD history as the "RFD Membership Card" is no more...

So sad.. I loved it when ppl thought my gold card was a debit card.

So I guess the consensus is that the MBNA Smartcash card is the next best one??

[ToChicka]

so sad.. I loved it when ppl thought my gold card was a debit card.

so i guess the consensus is that the mbna smartcash card is the next best one??

yep!

[4flava]

yep!

Cool, so I was on their website but I couldn't find a list of grocery stores that apple to the cashback.. what if I used it in the chinese store like Foody Mart? lol

[vdimitrov]

Does the annual fee mean that they're going to open this card up for new applications again?

For high spenders, $99 is nothing. Look at the entire premium cashback card market. Even after the fee, this card still trumps them all.

You're getting FREE money. So what if they take $99 of it back.

Along with the letter I've received information about the Rebate Program Change. AMEX is adding a 4th tier, a 1.00% rebate will apply (rather than 2% rebate) to annual purchases greater than $100.000. So, the card sucks even for high spenders. I will be using my MBNA Smart Cash for all purchases starting next year. It certainly hurts to loose such a good and exclusive card. AMEX really sucks!!!

[Vasyl]

So sad.. I loved it when ppl thought my gold card was a debit card.

So I guess the consensus is that the MBNA Smartcash card is the next best one??

I think that Aspire is better, MBNA is for gas and groceries.

[Vouch]

First $2,500 = $12.50 cash back
Next $2,500 = $25 cash back
Next $3,075 = $61.50 cash back

So you need to spend $8,075 per year to break even on annual fee

Assuming 1% flat cashback with no annual fee, return is:
amount spent * 0.01

This one, up to $100,000, return is:
(amount spent - 8075) * 0.02

multiply by 100 to simplify
x = 2x - 1,615,000

or x = 1,615,000 , divide by 100 again = $16,150

So, if you spend $16,150 or more per year, then you will make more cash back with the Amex (even with the yearly fee) than you will with a 1% flat cashback

Who's got the MBNA SmartCash return numbers to compare?

[Jaytee]

I love the AMEX Cash Back. Bah, I guess I'm applying for the MBNA Mastercard which is a poor substitute for the real thing.

[Vasyl]

First $2,500 = $12.50 cash back
Next $2,500 = $25 cash back
Next $3,075 = $61.50 cash back

So you need to spend $8,075 per year to break even on annual fee

Assuming 1% flat cashback with no annual fee, return is:
amount spent * 0.01

This one, up to $100,000, return is:
(amount spent - 8075) * 0.02

multiply by 100 to simplify
x = 2x - 1,615,000

or x = 1,615,000 , divide by 100 again = $16,150

So, if you spend $16,150 or more per year, then you will make more cash back with the Amex (even with the yearly fee) than you will with a 1% flat cashback

Who's got the MBNA SmartCash return numbers to compare?

And with Aspire, considering annual fee and annual bonus points and minimum cash back return of 1,5% and considering limited acceptance of Amex, Aspire is a clear winner, IMHO.

[angel_wing0]

First $2,500 = $12.50 cash back
Next $2,500 = $25 cash back
Next $3,075 = $61.50 cash back

So you need to spend $8,075 per year to break even on annual fee

Assuming 1% flat cashback with no annual fee, return is:
amount spent * 0.01

This one, up to $100,000, return is:
(amount spent - 8075) * 0.02

multiply by 100 to simplify
x = 2x - 1,615,000

or x = 1,615,000 , divide by 100 again = $16,150

So, if you spend $16,150 or more per year, then you will make more cash back with the Amex (even with the yearly fee) than you will with a 1% flat cashback

hmm, yeah no thanks. I will probably go with my td infinite or aspire instead. No annual fee and straight 1.5% back for travel with possible reach to 4.5% is much better. I dont think i spend enough for the aspire to reach full 2% back since 90% of the plane trips i take are to asia (loads of pt needed to fully redeem), but it will still probably be better than the new gold amex *rage*

[x95zsk]

just get a costco membership with the amex card....so the $100 goes to costco

[angel_wing0]

just get a costco membership with the amex card....so the $100 goes to costco

this gold 2% cb card has nothing to do with costco.