Hi …I currently have the American Express Blue Business Plus (BBP) and am thinking about adding the Amex Gold card to my wallet. However, I’m a bit hesitant due to the $325 annual fee (AF).
I’ve come across an offer for 90,000 Membership Rewards points with a $6,000 spend requirement, but I’m unsure if the card is worth the cost for me. The main benefit that stands out is the Resy credit, but other than that, I’m not sure how much I’d use the other perks.
I do spend around $1,300 a month on food, so the 4x points on restaurants could be useful. But is the overall value worth the fee for me, or should I stick with just the BBP?
Just a heads-up: if you’re looking for cash back, the points from the Amex Gold card won’t give you much unless you have a Business Platinum or Schwab Platinum card. It’s great for travel or if you frequently switch Amex cards, but not so much for cash back.
With your grocery spending, you need a card that earns well and doesn’t have a cap like the Blue Cash Preferred (BCP) does after 5 months. You might want to consider the Verizon Visa if you’re with Verizon, two AAA Everyday cards, Bread Rewards, or the USB Altitude Reserve for better cash back options.
Also, keep in mind that the effective cash back rate of the BCP is around 5% if you use the streaming multiplier often, and 4.4% if you don’t, due to the annual fee.
I think it’s important to do the math to see if it makes financial sense. If you’re really spending $1,300 a month on food, that’s $15,600 a year, which would earn you 62,400 Membership Rewards points with the 4x multiplier. At the worst-case redemption value (0.6 cents per point), that’s worth $374.40 in cash or $49.40 after the annual fee. Keep in mind this doesn’t account for losing the $1,300 per month you’re currently spending with another card, and you might find better redemption options or cards that suit your food spending better.
Is the 100K + $100 statement credit SUB still out there? Might consider searching for that (incognito browser, VPN if you have it, etc) of you end up going for it