I’M DONE: The Amex Trifecta Is DEAD to Me…

It’s GAME OVER for the Amex Trifecta! Learn the 5 reasons why it’s no longer my main credit card setup or strategy, what I’m doing instead, and why I’m still keeping it (yes, you read that right)! Click “Show More” to see Ad Disclosure.

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00:20 - Reason #1
2:22 - Reason #2
3:36 - Reason #3
5:05 - Reason #4
8:07 - Reason #5
9:29 - Should I Cancel?
10:33 - Will I Still Use Amex?

REASON 1: Credit Overwhelm. If you’re familiar with the American Express Platinum Card, you know what I’m talking about! From the Uber Cash benefit, $200 hotel credit, $200 airline fee credit, $300 Equinox credit, up to $100 for TSA PreCheck or Global Entry, and more, there’s A LOT to keep track of. Making matters even more difficult, many of these credits expire at different times and they do not roll over. The Amex Gold Card has its own $120 Uber Cash benefit and $120 Dining Credit. For now, the Amex Blue Business Plus is free from all this. For a 'simple' Amex Trifecta, you definitely need to put in some work.

REASON 2: Sky-High Annual Fees. The Amex Platinum Card has a $695 annual fee, the Amex Gold Card has an annual fee of $250, and (fortunately) the Amex Blue Business Plus is still at $0. In order to run the Amex Trifecta, you’ll be paying $945 in annual fees each year (with a bunch of credits and benefits in order to justify it).

REASON 3: I’m Not Using the #1 Redemption Method (Right Now). This refers to using Amex transfer partners for travel, particularly for flights. There’s no better way to get the most value out of your Amex points than using these partners to fly internationally on a long-haul flight in a premium cabin (like premium economy, business class, or first class). While the big value isn’t guaranteed (it depends on the itinerary), the potential is there. For at least the next year, I’m not doing these types of flights. Rather, I’m focused on cash back via the Schwab Platinum Card, which gives me 1.1¢ per point.

REASON 4: Higher Percent Return With Other Cards. For my situation, I can obtain 5% cash back on everyday rewards categories like Groceries, Gas, Dining, and Online Shopping. This is a higher cash back return that I’d get using the Amex Trifecta. For Q1 2024, cards like the following can make this happen:
- Chase Freedom Flex
- Citi Custom Cash
- Discover it Cash Back
- Amazon Prime Visa
- Runner Up: Amex Blue Cash Everyday, which earns 3% back on U.S. Online Retail

REASON 5: I Earn Amex Points via Rakuten. Rakuten is an online shopping portal that allows you to earn additional cash back on top of your credit card rewards. The cool thing is that you can change your rewards preference to Amex Membership Rewards points instead! While I’d earn even more Amex points with the Amex Trifecta, I find the earnings via Rakuten to be sufficient for now.

WILL I STILL USE AMEX CARDS? Yes, however, the Amex Trifecta will no longer be my default strategy for the near future. Rather, I plan to use select, individual American Express cards as part of a broader credit card strategy.

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, 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.

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