Hello, friends today I will tell you about the Best Benefits of American Express Credit Card, first off the American Express Credit Card simply cash preferred offers you 2% cashback on everything it comes with a $99 annual fee and all the standard benefits including early access to the concert ticket sales as a promotional bonus this card will give you 5% cashback for the first six months. American Express Credit Card.
Benefits of American Express Credit Card
The American Express credit card simply cash preferred card this card takes the lead because it looks really cool and because of its simplicity this card offers 2%cash back on every single purchase.
You make other cards on this list may offer 3% to 4% cashback but only on certain types of expenses like groceries there is no other card in the market that offers 2% cashback across the board because of this I use this card on everything especially on large purchases things like flights vacations hotels and furniture this card comes with a $99 annual fee but with 2% cashback it more than makes up for it-I’ve had this card for four years now and every single year.
This American Express credit card has given me between $300 and $500 in cashback minus the $99 annual fee that’s $200 to $40 of free money each year let’s do a quick calculation to see if this card is right for you the annual fee is $99 let’s round it up to a hundred if we divide 100 by 2% or 0.02 we get 5000dollars.
If you spend at least $5000 a year with this card the cashback will already make up for the annual fee and you’ll be breaking even if you spend $10,000 a year you’ll get $200 in cashback minus the$99 annual fee and that’s a profit of$100 right there
I would highly recommend this American Express credit card but only if you spend at least $10,000 a year with it any less than that and you’d be better off going with a no annual fee American Express credit card.
Another great feature this card offers is free damage and theft insurance for car rentals I used to rent a car every few weeks and using my American Express at the rental agency it saved me about $70 of rental insurance each and every time.
I went another awesome feature is the American Express Credit Card front of the line access whenever there’s a concert or basketball game announced I can use my American Express credit card to buy tickets three to five days before they go on sale to the general public to put the final cherry on top.
You’ll get a 5% cashback promotional period for the first six months or the first $6,000 whichever one comes first that’s 5% cashback on every single purchase you make for the first six months
This will get you up to $300 of bonus cash back plus the regular 2% cashback once the promotional period ends just a heads up, not all vendors accept American Express credit cards especially the smaller shops.
They’ll all accept American Express credit card but some of the smaller sandwich shops or smaller convenience stores might not accept American Express credit card.
Whereas they probably accept Visa or MasterCard that’s why I always carry an additional Visa card with me just in case the American Express credit card has not accepted the 2% cashback on everything.
Plus the free car rental insurance and the early access to concert ticket sales are enough to make this credit card my all-time favorite but this 5% cashback signup bonus really cements it as the undisputed king of cashback.
Benefits of American Express Platinum Credit Card
I will be letting you know-how in 2021 you’re already getting over 1100 in credits and benefits just in the first half of the year.
so also by travel credit cards. That led me to the Amex Platinum card which also taught me that the Amex Platinum card is not just a travel credit card, but an incredible lifestyle American Express Credit Card as well. We’re looking at the first and probably the most talked-about benefit which is the Paypal credit that you get every single month until the end of June 2021.
Just by being a Platinum cardholder, you get 30 in statement credit that’s gonna be refunded back to you after you make appropriate purchases. This means that it can’t be a transfer from yourself to another person, but it can be you paying at a store online through Paypal.
This $30 credit can be cumulative over multiple purchases. This next benefit is the spend $50, get a $50 statement credit for Home Chef, Home Depot, as well as Best Buy. In order to use these credits, you need to spend at least $50 on your purchase.
You’ll then later receive a $50 statement credit for Home Chef which is a meal delivery kit service. You can redeem this three times over the next six months until the end of June.
That’s for a total of $150! For Best Buy, you can redeem this twice for a total of $100, and for Home Depot, you can redeem this twice as well for a total of $100. These purchases need to be delivered to your home in order for you to qualify, so you can’t do curbside or in-store pickup or even purchase the product in-store.
Also, all of these purchases need to be separate purchases. So you can’t make a $100 purchase at Best Buy and think that it’s gonna trigger two credits at the same time refunding you $100. That is not how it works. It all needs to be separate purchases.
You also need to make sure that your account is not canceled, as well as not past due. This is offered to accounts that were already active as of November 1, 2020. If you become a cardmember after that date, you do not qualify to have these offers.
I have been seeing in different forums, though, that if you were already a Platinum cardholder before November 1st, 2020 that you still aren’t being targeted. Make sure you’re checking your offers to see if you qualify. Now some of y’all who are smart and are thinking, & Wait, there’s a Paypal credit of $30 per month.
There’s also that Best Buy credit where I can get $50. Why don’t I stack the two together so I can get $80 off of one purchase? & The answer to everyone’s question is: you cannot stack the offers.
Again, you cannot stack the offers. In the terms and conditions, it says that you may not receive this statement credit if your transaction is made with an electronic wallet or through a third party, that third party can be something like Paypal, with the actual store.
I even double-checked with customer service, and they said the same thing. People may try to find loopholes around the system and may still try to layer the offers together you may have gotten lucky. Do note that American Express Credit Card is usually really really good when it comes to these things.
They are known to claw back points. If you feel like it’s worth the risk, go for it. But if you don’t want to really risk it like that, I have another way for you to save even more without stacking the offers, and that’s by using Rakuten which is a cashback app.
You can download this plugin for free, and what Rakuten does is that it searches the web for a bunch of coupon codes when you’re at the checkout. And you can even get cashback on your purchase. I did this when I was redeeming the Home Chef offers. My total was $61, so over that $50 to trigger the $50 credit.
Then right at checkout, Rakuten popped up letting me know that it found a $10 off coupon code AND I got $10 in cashback. So if we’re doing the math here, I got $50 off of that $61 purchase.
Then Rakuten found an additional $10 off, which brought it down to $0.93 for that purchase.
And then what also happened is I got $10 cashback meaning, I actually PROFITED $9 to shop through Rakuten. And if you don’t already have an account,
You’ll get cash back when you meet the minimum spend, and I’ll get cash back, as well. Blinkist is an audio and ebook platform and even access to full-length audiobooks. Platinum cardholders are gifted a 1-year subscription to Blinkist, which is valued at $100.
Platinum cardholders get a spend $10 on Scribd, and then you get a $10 statement credit. Now let’s round up all of the totals from all of the benefits and offers and let’s see how this actually adds up to over $1100 in value.
Your usual Saks semi-annual credit; your $200 airline credit that’s broken up semi-annually, as well; and your Uber credit–the same one that you had last year where you get $15 every single month and an additional $20 at the end of the year.
When you total all of that up, that is already $1100 in benefits as a Platinum cardholder. And note that when a bunch of offers actually expire, new ones are released. So I’m looking forward to what American Express Credit Card is going to be releasing after all of the June benefits, like the Home Depot and the Best Buy benefits, all expire and then we’re going into July.
Remember, that the majority of these offers you need to activate. So, you need to opt-in on the app or on the website.
The 2 benefits that you do not need to do that for are the Uber and the Paypal credits. Just as long as your payments are being made with your American Express Platinum Credit Card on Paypal and on Uber, you’re gonna get those statement credits back.