What's up, you guys welcome back to another video in today's video, we're gon na be talking about exactly how the American Express gold card is gon na cost you only thirty dollars per year. Now, if you guys are new to the channel, welcome it's been quite a while, since I last posted a video, I've been caught up with work, I've been sick. I've been going through a whole lot of things, but I am back and in today's video I'm ready to drop since fire. Now guys the American Express is hands-down one of my favorite cards out on the market and there's a few reasons for that.

Here's why food? I love eating food. I love eating out. I love cooking food. I love anything that involves food, but even more.

I love getting my Forex back on the food and the things that I'm gon na buy anyways, keep in mind that Forex back on food is actually one of the highest. You can get back on a credit card, so the question is: how do we go from a 250 dollar annual fee card down to a 30 dollar annual fee card? We're gon na do a little bit of math here, very simple stuff and here's how the breakdown works. Once you guys drop a like on this video to make money off credit cards to reduce that annual fee and to come out on top in terms of the positive value, what we really need to do is understand that this is a pay-to-play a system there are Cards out here, where you don't have to pay annual fees and you can still reap the benefits, but I do believe that some of the strongest best earning cards come with an annual fee and it's all about breaking, even in terms of that annual fee costs. Just like going to a casino to play slots you put in money and it spits back more money out to you.

If you're really unlucky and all your odds go the other way, then you may lose money, I'm paying American Express that $ 250. Initially, when I get the card, but I know with all the benefits that it gives to me - I'm getting back more money at the end of the day, so this card also comes with an additional 120 dollar diamond card. It's the way this is split up. Is every month you'll get a $ 10 credit.

We have 12 months in a year and that adds up to be a hundred and twenty dollars. You can use this dining credit to GrubHub Shake Shack, Ruth's Chris Steakhouse, seamless, Cheesecake Factory, and they just added another one too, but those are really the main ones that you guys should consider. It's very easy to use now. Addition to that, you do get a 100 dollar incidental airline fee credit back in the day.

This was very easy to use where you could actually just go out on a selected Airlines website partner. You just go on there. You buy a gift card and, a couple days later, it would actually refund you that statement credit. Now, I'm not gon na lie American Express definitely likes to play games.

Sometimes they make these credits a little bit harder to use, unlike the Chase Sapphire Reserve, where almost everything goes in that category and you don't even have to think twice about using the travel credit that they provide. Now American Express gives us these credits and it looks really good on paper, but do you have to do a little bit of work to make it go a long way now? I can't confirm nor deny that some budget airlines will actually trigger that incidental airline fee credit, but there are some airlines that it's still working for around the hundred dollar range and your boy may or may not have accidentally or coincidentally tried this out to see. If it worked - and he may or may not have gotten his $ 100 or $ 200 airline, it's dental fee credit back from doing this and then refunding that airline ticket. So then he has the credit onto his account for that budget airline which he can use for the rest of that whole one year.

Instead of letting that credit go to waste may or may not Southwest Southwest, you got yeah. You can have Oh my throat, my throat hurts so bad for some reason Southwest around one hundred dollars three to five days. Let the credit refund it. Ah now, once we consider those two credits, we have the airline's, Sanofi credit.

We have the dining credit that right there is two hundred thirty dollars worth of value. We subtract that from the annual fee and we get thirty dollars of annual fee at the end of the year, assuming that you're able to use those credits now that we break it down like that, this card doesn't seem that scary right, you know a $ 250 And you fee, I'm not gon na lie, that's a good amount of money that can definitely hurt quite a bit once we really do a breakdown of the credits that it provides automatically. This is down to thirty dollars, but I haven't even gotten to the best part with that $ 30. You still get 4x back on supermarkets and you get 3x on flights booked through the American Express portal, the 3x back on flights with the American Express portal.

It's not a crazy thing to me just because sometimes the portal actually makes the price of the flight more expensive, so you actually end up paying more money than the cash back you would get and also, if you have a card like the Platinum card or even The reserved card you can find yourself getting the same multiplier, if not more so, in addition to getting the 4x back on restaurants and US supermarkets, we actually get even more additional benefits, now think about this you're, paying $ 30 of an annual fee for a card. That's gon na give you what I'm about to mention right now. This is Brian. You cannot see.

Brian Brian is behind the white screen to get no foreign transaction fees. You get a personalized travel server. You get the travel collection by the travel leader group. You have the hotel collection, you have car rental loss and damage insurance, you get baggage insurance and you also get shop runner now for your average consumer, most people aren't going to be able to use all of those benefits per year.

I know a lot of people don't even end up renting a car. Most people just never have I. I don't think it's a huge thing, especially when you're traveling I feel like there is a luxury of being able to find other options like Toro and just different things like that. So it does come with additional benefits and I think that's the most important thing to highlight you shouldn't use credit cards primarily for these benefits that you wouldn't use.

I think it's good to just know that that credit card offers that benefit in case you need it. Now another reminder $ 30 we're getting all this, but we have not even mentioned the best a single part of this credit card. I guess all credit cards and that's actually gon na, be the welcome bonus associated with it for anyone new to the points of miles hobby. This is something I reiterate so much on my channel and the most important thing that credit cards can offer you guys.

It's not the multiplier, it's not the benefits to me. What I value the most is actually that welcome bonus, and that's why I really strive hard to be able to go for that. The welcome bonus is usually an offer where you spend X amount and you get X amount back. Welcome.

Bonuses are really an incentive for us credit card consumers to use that card more now. How does this benefit the other banks and credit card companies? Well, the more we use a card, the more interchange fees they get. In addition to that, we also make it a habit to use that card more often now in this industry there really is two groups: there's gon na be people who are responsible, who know how to use credit cards that don't carry that debt or strategically carry that Debt, where they do not pay interest - and there are gon na - be the other side of the group - and this is pretty much the rest of the world where they do not understand the true face value of credit cards and they actually have credit card debt which Defeats the purpose of all this when you have a welcome bonus when you're incentivized to spend four five six seven thousand dollars in a period of a couple months, some people find themselves not being able to pay back that full amount and that's when they actually owe Interest now banks make money through a variety of ways: it's not just through the interest and that's what I thought in the beginning as well too, but they actually make money in a lot of different ways and one of those ways is the interchange fees that I Mentioned I made a video on that, while back on my channel so Brian, how do they make that dough Coby, so credit card companies actually make a lot of money from something called interchange. Interchange fees is just basically every time we do use a card.

The banks also make a small commission off of whoever uses that card. We, however, are in a fundamentally different place than our competitors. So if you look at a major bank card, issuer 70 to 85 percent of their revenues are driven from interest income spread in our model, 12 to 15 percent of our revenues are driven by spreads, so we actually like people to spend and pay us back. So often people will say to me, you know I pay you back every month, I'm really not one of your good customers you're one of our best customers, one of our best customers.

We love you. We want you to spend and pay us back in 30 days. Our prime lenders are prestige. Lenders people like American, Express they're gon na go for that interchange, rather than the interest that people pay to them.

So at the moment, the current public offer is thirty. Five thousand mr points, if you guys, spend four thousand dollars in three months when this card first came out, it was like fifty thousand mr points at like twenty five hundred dollars spend and that's why I always recommend people to try and wait for that. Best. Welcome bonus offer now it's been about a year since American Express released this card.

I don't believe that they're gon na come out that same welcome bonus, offer that they did in the beginning and also in the beginning. They actually gave you like 20 % back up to like a hundred some dollars in the beginning when this card came out, so it really pushed people to get this card even more. At this point, if you guys are interested at all in applying for the American Express gold card, I do have affiliate links down below in the description it really does support. This channel allows me to talk about credit cards and put out content like this, but guys also keep in mind.

There is no obligation to use those links. It's just an easy way for you guys to support this channel if you guys would like to so. That is them. Thank you now, here's the thing, if you don't use that airline incidental fee credit, if you don't use those dining credits associated with that card and you're still stuck paying that's straight up two hundred and fifty dollar annual fee, if you guys get the welcome bonus, if You are able to get 35,000, mr points, and if we value those points at a very conservative number of 1 mr 1 cent, then you can actually find yourself still getting 350 dollars back in that $ 4,000 worth to spend.

If you subtract that, from the annual fee you're still coming out on top in terms of the hundred dollars, you get back now, it's very unlikely that if you're watching this video you're not gon na use the dining credit and you're not gon na use the airline Incidental fee credit, but if you do just put in a little bit of work, you can find yourself getting a lot more value in terms of the money you pay back to these credit cards, but I believe the biggest advantage to the American Express gold card to The membership reward points that you get with. It is being able to utilize all the transfer partners that they had in terms of the traveling that you may do in the future. American Express actually has a huge and wide variety of transfer partners, and they actually have these promotions. Where sometimes, your points can be worth even more if you transfer them out to certain partners and then, if you redeem it for certain type of flights or certain type of class upgrades, you can find yourself getting even more value.

At the end of the day, credit card points and miles this hobby takes a little bit of work just like anything else, but it is so rewarding. I know for me personally, I'm too cheap to pay for first-class flight, I'm too cheap to ever pay for a business class flight for myself. But I know that if I use points I know if I'm actually getting a deal on something, then there's a good chance that I'm actually gon na be able to experience that in this life, guys make sure you do find yourself getting value. Something that I personally do with my credit cards is, I always make sure I have a reminder on my Google Calendar to make sure I use that credit at some point now, if you do get to a certain point where you have about 12 to 13 different Credit cards: you need to understand that you have to use these credits for you to come out on top in terms of the value.

Some people just don't want to put that work. Some people just want to stick with the no annual fee cards, and that is completely fine. But I do believe that if you want to experience just a little bit more in this life, if you guys want to take advantage of the things that are out there completely for free, then these are the things that are available. You just have to do a little bit more work and all of this information is available.

It's all available on my youtube channel, it's available on the internet, it's available in blogs. None of this is a secret just about how much work you guys decide to put in now. I want to hear your guys thoughts is the American Express gold card still relevant? Is it's still worth it? In 2020, it's been quite a while, since I made an update video on this card, and people often forget that the American Express gold cart is the reason why my channel was able to get to the point. It is right.

Now I made an unboxing video a long time ago. Quality was awful. I was in my parents basement, it was just it was. It was not a video that I thought would do well, but surprisingly, because the revamp on this card was so extraordinary.

A lot of people start to look it up. They were starting to look up the unboxings and different things like that, and that was the same time when I decided to make a video on it and I just got lucky with the algorithm, and Here I am today so for me personally, the gold cart is Worth way more than other people know, the gold cart goes a long way for me and - and I I just have another personal connection with this - I wan na hear your guys thoughts. Do you agree or disagree with my calculations? What do you guys think is this card actually worth $ 30, or do you think that is not correct, feel free to disagree? I do want to hear everyone's thoughts down below and also one of the most popular questions I get on. My video is Brian.

Why does your gold card look a little different from the one that they hand to us or they sent to us? This was actually transformed by a company called Lian credit card. If you guys are interested in turning your regular gold card into a 24 carat gold card, what you guys can do is actually reach out to them. Let them know you want the Brian junk special and if you guys use code credit 20 at checkout, you guys will also save $ 20. This is a little flex, a little gift that I gave to myself and I'm not gon na lie I'll, be straight up.

You guys this is actually one of my favorite parts of this credit card every single time I use it. Even when I don't want compliments. I forget that this card is now a refreshed card. I do get compliments and, if that, if that's something that you guys value, if you guys want the opportunity to strike up a conversation, that's something I recommend now drop a like on this video, if you guys have not yet already, if you guys have not yet Subscribed make sure you guys do, and I hope this video really helped you guys out, and I really hope I see you guys, the next one, it's good to be back, I'm a little sick.

Hopefully, you guys cannot tell maybe you can tell, I don't know ooh, but I'm really excited to edit this video I'm gon na get this up pretty soon. But thank you guys so much for tuning by. I love every single one of you guys and we're also going to be doing a giveaway soon, so stay tuned for the. But in the meantime I love you guys I'll see you guys the next one papa Beeson.