I signed up for Amex gold about 4 years ago now and I feel like the price of the card is outweighing the benefits I'm getting out of it; and my spending habits don't allow me to use the card perks to its maximum potential.
My spending habits are pretty much:
- Bills
- Groceries
- Weekend restaurant dining
- occasional (once a year or so) Hotel stays
-
Rarely booking flights (Have had 3 flights in the last 6 years)
When we get hotels, we find the cheapest hotel online and book through the hotel site – so we don't even get rewards from booking through the AMEX travel app.
The dining credit they offer is probably 99% restaurants that aren't even in my area
We don't eat at Dunkin and we don't go on enough trips to take advantage of their car rental programs or trip insurances.
Essentially, the only time I use the (4x points) benefits on this card is when we go out to eat and when we buy groceries. Because of this I barely get enough points every year to pay for the card premium, and I'm not getting much benefit out of this card.
Would it be smart for me to cancel this card and replace it with another everyday spender?
If so, I'd be looking for recommendations an on everyday card I could sign up for. Essentially just something that can give me cash back on every day purchases.
Looking to cancel my Amex Gold for another card and looking for advice
byu/blua95 inCreditCards
Posted by blua95
2 Comments
C1 Savor
Robinhood Gold
My big 3 I use for everything in life is VX, Amex Gold, and Robinhood Gold.
VX on rent and a few other bills
Amex Gold on groceries and eating out
Robinhood Gold on everything else. The 3% cash back goes straight into your Robinhood account and I buy stocks/crypto with it. Perfect for me.
EDIT: To answer your question, I’d recommend RH Gold for a solid 3% on everything. It does have a $50 AF but totally worth it IMO. I use the app for stocks and crypto anyways tho.
Totally get where you’re coming from – if the annual fee isn’t justifying itself then it’s time to move on. For your spending pattern a simple cashback card would work much better.
Since you’re mostly doing groceries and dining, maybe look at cards that give decent rates on those categories without annual fees. Some give 3% on groceries and 2% on dining, which would probably net you more than what you’re getting after paying that Gold fee. Just make sure to use up any points you have before canceling the Amex.
The no-fee cards won’t have fancy perks but for everyday spending they’re usually better value unless you’re really maximizing those premium benefits.