Amex Just Destroyed ANOTHER One of their Cards…

Amex Just Destroyed ANOTHER One of their Cards…

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Hey credit Warriors welcome to the show And yes American Express is at it again They have raised the annual fee on Another card and brought in a load of Useless credits as consolation of course Some people may actually find these Changes beneficial so don't judge them Before you hear about them and there is Also a way that you can get the new Credits and the benefits with the old Annual fee at least for your first year Of having the card and we'll tell you How you can do that later on in the Video but first let's get into what Happened so the card that we are talking About is the business goal card now I Actually used to have this card but I Canceled it in favor of the business Platinum Card earlier this year I'll First give you a rundown of the key Points of the changes that were brought In yesterday and then I'll give you my Opinion on them so the key points are The annual fee has increased from 295 Dollars all the way up to 375 now that is an increase of 80 Dollars or 27 that's actually really High okay the new annual fee on the Business gold card is almost as high as The annual fee used to be on the Platinum and business Platinum okay the Old annual fee on that card was 450 a Couple of years ago business gold we're Now up to 375 which is almost 400 so

It's kind of crazy it gives a new Meaning to my new tier 3.5 that I Brought in in my most recent credit card Ladder video okay that tier 3.5 it was For cards with a 250 annual fee now I Guess it's going to go from 250 to 375 Okay that's a new tip 3.5 if you haven't Seen that video looks like this I'll put It on the end screen of this video if You want to check it out all right now We've got a new okay and this is a good Thing a new 240 dollar per year or 20 Per month statement credit for business Merchants okay and this covers three Things it covers FedEx GrubHub and Office supply stores it's kind of like The dining credit on the annex gold so On the AmEx gold they give you ten Dollars per month for dining is valued At a load of different stores okay one Of them the only one I can remember off The top of my head is Shake Shack Because that's the one I use although Some months I forget to use it or I'm Just not near a Shake Shack location so I'm not able to use it that month but Often I do use that all right next thing That has been added is a 12.95 monthly credit for Walmart plus Now Walmart plus gets you benefits like Free shipping 10 cents off per gallon at Exxon and Mobil gas stations as well as Members prices on Sam's Club gas but I Feel okay this might be a little bit

Useless since a lot of people who have a Business goal already have the personal Platinum Card okay and the AmEx Platinum Brought in the Walmart plus benefit okay The Walmart bar Plus Credit a year or Two ago so if you're already getting it On the annex Platinum the business gold It's basically Superfluous it doesn't Add any value at all so because you're Just doubling up on credits all right Let's move on so we got two new Forex Point earning categories now if you Don't know the way the AmEx gold works Is it earns four points per dollar on Your top two spending categories from a List okay we'll show you the list a Little bit later Um and there's a annual spending cap of 150 000 for those Forex categories now The two new categories they have added Are Transit and Wireless telephone Services and then airfare and shipping Have been removed from the Forex okay We'll talk about airfare in a moment Shipping I feel it's a little bit sad That's been removed okay because that's Actually quite a big category for Businesses now the ones that have been Added though they're actually quite Useful I would say Um you know you got Transit Transit is Basically everything except for airfare Okay so it's like Uber's Subways all That kind of stuff and Wireless

Telephone services I mean that's never Going to be that big of a spending Category unless you run some sort of Business that does that but yeah good to See that there although for me I think Personally uh trans it could be a big One and then gas is still there that's The one I used you know when I had this Card that's the one I really valued now We have new three point per dollar Categories on flights and prepaid hotels Through Amex travel okay so both of them Are through Amex travel it's not flights Directly through Airlines and prepaid Hotels through Amos Travelers both Flights and hotels through Amex travel I Don't think this is a big deal I don't Think this is a really It doesn't add anything to the card Since if you have the AmEx Platinum you Already get 5x points on flights anyway And that is flights booked directly with Airlines not just through Amex travel And you also get the 5x on prepaid Hotels and many of the people who are Going to have the business gold are Already going to have the personal Amex Platinum card Um so yeah again it's kind of doubling Up it's not really that useful now we Have one more piece of bad news and that Is that the business gold card is losing The 25 Airline bonus okay now if you Don't know what this is when you redeem

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Points for either a business class or First class airline ticket or an economy Class airline ticket but only on your Selected Airline through the AmEx travel Portal you'll actually get 25 of those Points give them back to you okay so it Actually increases the value of the Points quite a lot it's similar to cards Like the Chase Sapphire preferred giving You a 25 extra bonus or the Chase Sapphire Reserve giving a 50 extra bonus But they do it in a different way okay You get the points returned to you after You've booked the ticket so you do Actually have to have the full amount of Points at one cent per point in your Account first and then you get 25 return To you Um you can figure out the value it's Actually it's quite good it puts you Know the AmEx business gold and business Platinum kind of on par with the Sapphire preferred Sapphire Reserve Chase Ink preferred Etc in their value Through the portal now that is going Away that benefit will be going away on February 1st 2024. so if you want to use It if you've already got this card and You've got some points make sure that You use those points through the travel Portal to get the airline bonus before February 1st 2024. if that's how you Want to use them of course transferring Out to Airlines normally offers more

Value and it's interesting looking at Other articles actually I didn't see That many people mentioning this because It is kind of buried in the terms and Conditions but it is there all right Let's now talk about something good so There is a special welcome bonus of a Hundred thousand points for spending ten Thousand dollars in three months now This is targeted okay so I found it when I searched it on Google and just clicked In I didn't click the ad I clicked the Actual search result when I refresh the Page later on though it went back down To 70 000 so you can try it if you don't Find it you can try all the usual tricks Like incognito mode download a totally New browser that you've never used Before Etc the regular bonus as we said Is 70 000. but there were a hundred Thousand Point bonus it's good value and It would be worth at least a thousand Dollars if not two thousand or more Depending on how you use it so what are My thoughts well if you add up all of These new credits it does offset the Annual fee okay so you've got the Walmart credit that's 155 you've got the New business credit 240 so that's a Total of 395 dollars so it does Completely offset the annual fee in fact It brings you to positive twenty dollars In other words American Express is Paying you twenty dollars per year to

Have this card except that if you Already have the Platinum personal Platinum that makes the Walmart Plus Credit worthless because you already Have it on that card okay I mean maybe You could give it to a friend or Something but then you're giving Something to someone else anyway but for Yourself it is worthless so that takes The effective annual fee now to 135 Because you're only benefiting from the 240 Dollar business credit and not the 155 Walmart credit I think most people Who get this card should be able to at Least use the business credit I mean if You can't even use that I would say you Know is this card really worth it and For the business credit I mean everyone Has to eat right and GrubHub is one of The things that you can use it for also You can at least use it each month to Get yourself some food but it's a sign Of the times another AMEX card going Down the coupon book route okay and it's Kind of sad to see also getting rid of The Forex on shipping is a bad move in My opinion I'm glad to see Forex on gas Still there that's one of the main Reasons that I got this card a couple of Years ago and like we said it earns 4X On your two biggest spending categories And here is the updated categories for You okay so if you apply for the card Now these are the categories that you

Can get Forex on gas dining advertising Transit electronics and wireless it made Sense to get rid of air travel from the Forex list many people they have the Personal Platinum like we said and that Covers you for air travel at 5x I'm also Sad to see the 25 Airline bonus go but Again if you have the business Platinum You get a 35 Airline bonus on that card Anyway so you might as well just do that All right no point of doubling up on Benefits if you already have both cause If you have points that you want to Redeem in that way okay if you're a Current card member of the gold and you Only have the business gold just be sure To redeem your points in that way before February 1st 2024 and you will still get That bonus now I did say there is a way That you can get this card with the new Benefits and the old annual fee and yes There is you see the new benefits they Kick in straight away but the new annual Fee doesn't kick in until February 1st 2024. the same date that the airline Bonus ends okay so that's kind of the Key date with this card right February 1st 2024. so the way this could work is For example you apply now make sure you Get that 100 000 Point special offer Okay search for it all right don't be Lazy it's thirty thousand extra points You might as well you'll have until February 1st 2024 to use the 25 Airline

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Bonus so if you've got the big welcome Bonus of 100 000 points you could get a 25 bonus on top of that as long as you Redeem before February 1st 2024 but all The new statement credits they will kick In immediate as well as the new Point Earnings structure so you get the new Benefits the good ones straight away and Then when your card renews in the fall Of 2024 you'll obviously have to pay the Higher annual fee of 375 dollars but you Might even be able to call the Reconsideration line and ask for another Year at the old annual fee which I think Was um 295 and because of those things It could actually be quite a valuable Card at least for the first year if not Another year if you manage to get you Know another year at the old annual fee Through reconsideration oh and there's Now the option of rose gold like there Is with the personal gold so that makes All the difference guys I'm sold I'm Applying for the card again but you know What there's been no changes to the fact That you can still get up to 12 free Stocks from our sponsor Weeble it is a Brokerage app where you can buy and Trade stocks cryptos and even open an IRA when you deposit any amount of money In a new account at a minimum you'll get Six free stocks at a minimum total value Of 34 dollars altogether but you could Luck out and get all 12 and they could

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Be much higher values giving you a Maximum possible value of over thirty Thousand dollars luck of the draw what You get link is below I'll also put my Referral link below for the business Goal just in case you want to get it While you can still get the lower annual Fee just know the referral link gives You 70 000 points so only use it if you Really cannot find the hundred thousand Point offer I don't want you guys to Miss out all right thank you so much for Watching guys please subscribe if you're New and we'll see you next time bye

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