These 9 Mistakes Will Make You HATE Amex (A Warning to Everyone)

Here are 9 HUGE MISTAKES beginners make with American Express credit cards. Learn what they are so you can avoid them for maximum value long term. Click “Show More” to see Ad Disclosure.

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00:00 – Intro
00:39 – Mistake #1
2:52 – Mistake #2
5:30 – Mistake #3
8:44 – Mistake #4
11:22 – Mistake #5
13:16 – Mistake #6
15:53 – Mistake #7
18:27 – Mistake #8
19:58 – Mistake #9

American Express credit cards are incredible…for the RIGHT people. They offer cash back credit cards (like the Amex Blue Cash Everyday and Amex Blue Cash Preferred), hotel credit cards (like the Marriott Bonvoy Brilliant, Hilton Honors Surpass, and Hilton Honors Aspire), airline credit cards (like the Delta SkyMiles Gold, Delta SkyMiles Platinum, and Delta SkyMiles Reserve), as well as their own non-cobranded cards (these are the ones that earn Amex Membership Rewards points and include the Amex Green Card, Amex Gold Card, and Amex Platinum Card).

However, American Express is also one of the stricter card issuers due to the fact that they have a lot of rules you need to be aware of. Not knowing these rules can severely hinder your ability to get maximum value from Amex credit cards, especially if you’re a beginner. So, let’s go over them now!

First, don’t cancel or downgrade Amex cards before 1 year has passed (you could face major penalties if you do).

Second, don’t use the Amex Check Spending Power feature too often (especially if you want to avoid an Amex financial review).

Third, don’t neglect Amex Offers (or else you could miss out on saving hundreds – or thousands – of dollars).

Fourth, don’t open or close Amex cards too often (this could prevent you from earning welcome offers from time to time, aka Amex Pop Up Jail).

Fifth, don’t get Amex cards in the wrong order (failing to do so could mean making yourself ineligible for Amex welcome offers on certain cards, potentially for life).

Sixth, realize that redeeming Amex Membership Rewards points for anything other than select travel will often mean losing a TON of value).

Seventh, understand that Amex doesn’t currently offer a credit card that earns 1.5X – 2X points on all purchases on the personal side (this might mean losing out on a lot of value if you have a lot of annual spend that falls outside of regular categories like restaurants, travel, supermarkets, etc.)

Eighth, be aware that a lot of Amex cards take effort to justify (by this I mean they have high annual fees requiring you to use certain benefits and statement credits to earn back that fee throughout the year).

Ninth, be aware that Amex may give different offers to different people.

Disclosure: The thoughts, opinions, and information presented are those of the creator. This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com, YourBestCreditCards.com, Biltrewards.com and others. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.

#amex #americanexpress #creditcard #creditcards #creditcardrewards