NEW American Express Gold vs The Chase Sapphire Reserve | My Final Thoughts - YouTube

Let's go on everybody David here today we're talking travel rewards credit cards, but first offer if you're new to the channel

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Alright a couple of days ago. I put out a video American Express gold

Is it the Chase Sapphire Reserve killer and it got a lot of people talking so

We had a lot of comments a lot of statements about

thinking Chase Sapphire Reserve is

by far the better card

so you had some other people on the AMX Gold side saying that it's a better card and they've had

American Express for a long pretty time

Then you also had some statements about some of the things that there are a few things that I did miss and I will go

over those some of those statements or some of those questions that people had

so the first the first thing I want to talk about though is

just because a card is

It's hard to rank these cards, let's just put it that way because people have different needs people have different

Different shopping patterns some people shop at supermarkets some people eat out all the time

So if you eat out all the time, you really don't need four times points on supermarkets using the American Express goal

It doesn't mean anything to you. You might have credits that you would never use because they're just not there

they don't go along with your travel plans good credit that I can talk about as an American Express gold has a

$75 credit if you use their portal to to book your hotel

You have to stay two nights and they'll give you a $75 credit that you can use for food and things like that

So there are different benefits that I might not utilize or benefits that you might utilize

So it's hard to really rank a card and say one's better than the other

It's more of a situation where?

You could look at one card and what I was trying to do with the videos

I was trying to look at the American Express gold with the benefits that the American Express gold has is

It killing off some of the business

from Chase and

I think and I used that the specific taste that Fire Reserve which I probably should have said chase

But it I think it is killing off some of the business and one of the things I'm looking at Chase Sapphire Preferred

That card is really

It's not really an important card more

Most people will go with the Chase Sapphire reserve if they're really into the Travel Awards credit cards

They'll go with that card and there's no need for the Chase Sapphire Preferred anymore. So I have the Chase Sapphire Reserve

I still have the Chase Sapphire Preferred

But now I want to downgrade that card because I don't really need it anymore. And I've actually had it for four

I got the Chase Sapphire Reserve when it first came out. So I've had the Chase Sapphire Preferred all this time and

I just I need to downgrade I need to do something else with that card because I don't need the card anymore

All the benefits that I give with the Chase Sapphire Reserve

They are the same or better benefits that I can get with Chase FII preferred. So

That that's kind of what I wanted to say. It just doesn't it doesn't matter when it comes to cards

You might think one's a better card

It's a better card for you, but another card might be a better card for someone else

And so that's all I'm saying when I'm looking at the cards now

I have I have the TFI Reserve so why not look into some other cards?

I've had the card for two years look into American Express gold American Express Platinum

So that that's what I was what I was trying to get at now if you're just starting off you have two options

Really the way I see it. You have the American Express option or you have the chase option?

So you have one or the other you can go with one ecosystem or go with the other ecosystem if you already have that one?

Ecosystem then you can look at going going into another ecosystem

But what I was saying is just starting off if I'm looking at both cards just starting off

I'm looking at a $400 annual fee for one card sure. You get the 300 dollar tax credit

But I'm looking at a $450 annual fee

Compared to a $250 annual fee. Okay, so

When you're just starting out you might think okay. You know what? Let me go with a $250 annual fee

This is a car that has really good iron possibilities

the American Express card is I can keep this card for a long period of time and

I can continue to earn and earn and earn on that card. And if I'm in a situation where I'm shopping

At supermarkets, I can really maximize my points and

I have that cap of 25,000

So all these different things

So there are a few

Questions and a few statements that I that I jotted down that I wanted to make sure that I went over

So the first thing one of the there are a few people that mention this the four times points in the three times points

It's only good in the US and that's absolutely true. It's 100% true. It's only good within the US

so if you're outside of the country and

You go to a restaurant and you use your American Express gold. You're only gonna get one point per dollar

But the way that I look at that whole situation

85 to 90% of my spend will be in the US for the most part. I'm gonna be going to grocery stores

I'm gonna be going to restaurants

most of this stuff is gonna be within the US so I'll be earning most of my points there now if I'm out in another

Country and I want to go to a restaurant. I have other cards. I'll use my tastes a fire reserve

I'll use another card that I have that will maximize my points because that's all I'm always thinking about maximizing points

I'm always thinking about how many points can I get for using this card over using this card?

So just because you have that card and get you good or impossibility in the US

Doesn't mean that it's a bad card because you can't get good earn possibilities in other countries

It just means you use a different card. So that's how I feel about that

Like I said 80 percent or 85 to 90 percent of my spin is gonna be within the US so that's really not

something that I'm

Would would shine me away from getting that card now?

Another question that was posed is the the travel credit

So with Chase you have with the Chase Sapphire Reserve you get a 300 dollar travel credit

I did not mention that in the last video and

It's true. Yes, you get the 300 and 300 dollar travel credit, but you have to look at it like this

It's great that you get the travel credit

But you are paying for the travel credit

Just like all the other credits the American Express goal has they have credits they have 120 dollar dining

Credit, they have the hundred dollar airline incidental credit you're paying for that you you pay two hundred fifty dollars for the American

Express gold you pay

$450 for the Chase Sapphire Reserve you are paying for

these credits that you're getting so

Goal, and the way that I look at a card and think that it's stronger than the other cards

when it comes to to me personally is

There there are a few different things one. Can I use all the credits that I'm that I'm that I get

So with the Chase Sapphire reserve it's easy $300 travel credit goes to anything goes to airline

It goes to hotel goes to uber you name it it will go to that so I know I can use that credit

So that's good

however

What else do you get past that? So if I if I pay?

$450 I'm going to get to $300 travel credit now

I have one hundred and fifty dollars that I need to try to see if I can maximize

the fact that I'm spending $450 I need to be able to get that to zero and

So there's some other benefits that I use all the time

but there are benefits that I don't use with chase the Chase Sapphire reserve the

Rental car the insurance the primary insurance. I don't use that like I don't get rental cars when I want to travel

I'm usually when I travel I like to stay in Airbnb S or R State High properties and I will stay

usually in the big cities

especially if it's my first time I'm gonna stay in the big cities and I'll use uber I'll use a taxi I

Do a lot of photography so I will times I'll get a guide that will just take me everywhere that I want to go

So I very very rarely ever get a rental car. So I don't I don't need to utilize that and

Plus I have other cards that have that benefit as well. So if you have the Chase Sapphire reserve

You can consider getting an American Express gold. Why because you can use

whatever card you need to use in order to get your to get to maximize your benefits, so

That's that's my take on that

The there's some other stuff here. Okay, why use a charge card or why are we comparing charge cards to credit cards?

They they're not the same and that's 100 percent. Correct? They're not the same

However, the way that I use my credit card is the same way that I would use a charge card. Okay, so

when I'm when I

First off when I'm using my credit cards, it's not because I don't have money in the bank

I have the money in the bank as a matter of fact if I don't have the money in the bank

I'm not using my credit card. I'm not making that purchase. So when I make the purchase

Every two weeks I'm paying off my credit cards

So any balance that I have on my credit cards are being paid off every two weeks

So that that includes charge card, so everything is getting paid off

So I never carry your balance and never want to have to pay interest on anything

So that's why I pay it off

so every two weeks I pay it off and

There are certain situations where I'll wait the month and I'll pay it off

But I'll pay it in full and we'll never never carry a balance

So that's just a way that I go about things and that's what I really recommend

It's when it comes down to credit cards. You shouldn't use a credit card

Like like I was taught when I was when I was younger

where you use the credit card because you don't have cash in the bank and

You want to pay it over time?

You don't do that because you're accruing all these points

And the reason that you're accruing these points is you want to travel right?

You wanna or you want to catch the points out or you want to get money get something for those points?

now when I start paying interest those points

continue to drop

Because I'm paying interest. So now I'm putting more money into it. My point value is going down

So you never you never want to carry a balance. You never want to pay late fees. You never want to pay

Interest or anything like that?

so the answer to that is I

Use the cards the same and you should like when you're comparing these travel credit cards

You can compare a travel charge card to a travel credit card

Because your mindset needs to be that you're gonna pay it all off at the end of the month

You're never gonna care your balance, so it should never be

The the cards are the same the way that I look at now sure if you have a charge card

there's no there's no well, there is a limit there is a maximum limit but

they don't really tell you what that maximum limit is you can kind of spend as you spend but

That that could be dangerous. That could be very dangerous

But like I said my rule of thumb if I have the money in the bank

I'll make the purchase if I don't have the money to make I'm not making the purchase

It's just like when you had a debit card use a debit card

You're not gonna use your debit card

If you don't have the money in the bank

you're gonna have the money in the bank then use your debit card because you know

It's going to come right out if you're you're banking your checking account. So I

Do it the same way. Okay. The only thing is there's one extra step now or now

I have to go into my my bank account and transfer that money over to my credit card and that's it

So I look at that another question are another statement that was was posed was the 5:24 rule

so chase has a 5:24 rule basically meaning that you can have you can only have five new accounts every 24 months and

this is good like chase is smart for doing this because

Now it makes you you have to there's a certain strategy now where you're thinking

Okay, I can get this chase card I can get that chase card

I can get this chase card and usually you get to chase cards first

Because you know if you go and get an American Express gold card or American Express Platinum

Card that's taking up slots and you only have five slots

so basically, it looks like this let's say I get the American Express gold and the American Express Platinum and then I get the

American Airlines advantage card and then I want to get to chase cards. So I get all those cards within that 24 months

Let's say I get them kind of back-to-back like with three four months time. I get all those cards

So now I have five new accounts that are that are open now

let's say a new card comes out from Chase and

I want to get that card so I get that I try to get that card

They're gonna deny me and tell me that I've reached my five four the five new accounts

It doesn't have to all be Chase accounts or chase cards. It can be different cards

All they're doing is looking at your credit

Report and they're looking to see how many new openings you had in the last 24 months. So

Chase is smart because now yeah, you have to kind of look at okay. Well I can get this card and get that card

I can get this card. I don't want to waste a slot

And so that's where a lot of people were saying in the comments

They don't want to waste a slot by getting this American Express gold card. Okay, so

we all have different situations right my situation is this I have pretty much all the chase cards that I want and

now there's they're only a couple of cards that I have my eye on that better chase cards, but now I can in

These cards for most of them for about 2 years. So now I can look into

Branching out. I'm gonna keep the chase cards, but now I can branch out get American Express this or American Express that because

I'm not gonna hit that 524 rule because they're not too many cards that I'm looking for that are in the in the chase

ecosystem right now, so

Where everything, you know, we're different when it comes to that

Some people might be just starting out and they're getting these chase cards

And the reason why they're getting the chase cards and they don't want to waste slots

With American Express cards is because the 524 but it doesn't affect everybody the same way

So in my situation right now, it's been

Over two years. I think I have one card right now. Actually, you know, it's a business card. So that doesn't even count

So it's been it's been over two years

I can get five new cards all American Express if I wanted to go that route

which I can't even think of five five American Express cards that I would get but I

can give five cards and

I'm fine

I have all the chase that I need and if I really really wanted to I can get I don't have the United Mileage Plus

Card, so that's one of the cards that I'm kind of thinking about getting

but

that that that card is not even a necessity because I

Have the chase car to have the ultimate reward points?

I can just transform points just like I'm doing now transfer my points over to United and fly United

The only benefit is I get the baggage fee waived and there are a couple other benefits

I think you actually get some lounge access and stuff like that

So it's just it's where you are certain cards will suit you at certain times

And so that's kind of what I wanted to talk about now

And the last thing too is American Express that people mentioned American Express is not accepted everywhere. That's true

It's not accepted everywhere in foreign countries. There are a lot of places that won't accept American Express

So that's another situation where I have different cards, so

My main thing is I want to earn

points

The fastest way that I could possibly earn them and then burn them earn them burn them

So erm and then use them as fast as I can

To book travel, so that's my thing

So if I'm sitting in a situation and I can earn four times points at supermarkets

And I can't find anywhere else where I can earn four times points at supermarkets. I mean the only other real

Option would be the Chase Freedom Card where it they have different categories. So every quarter

At least one quarter you'll have supermarkets where you can go into different grocery stores, and you can get five times points

They cap it at 1500 per per quarter, but it allows you to get some to use, you know

use your card to get that and I think they have like

Costco and and things like that or they'll offer that different quarters. So you are able to

To get five times points on certain cards, but the caps are really really low so you can't really get that much

value out of it this cap on the American Express gold is twenty five thousand and

For the average average person. Even the average family. You're probably not gonna spend twenty five thousand dollars in groceries in one year, so

Just that's just kind of the way that I'm looking at it and one more thing. I wanted to talk about with the

US only so like the four times points in the US and the three times points in the US when you're used in American Express

gold

Not everyone travels out of the country and some people might travel out of the country

Once a year, but they do a lot of traveling but it's it's in the US

So if you're traveling in the US this car is perfect for you because you're still gonna get your four times points

You're still gonna get your three times points

so that's doesn't even that's not even a factor when it when you're looking at at at cards and

Some people travel like I do I do travel out of the country a lot

But I have other cards that I can utilize. So that's all I wanted to do

I just wanted to kind of go over some of the questions some of the statements that I saw

In the comments and I love the fact that people are really engaged in in this conversation

That's really great. If you guys have any further questions, please post in the comments below

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