How to Get Started with American Express (Amex)

Introduction

• Presenter: Mark
• Focus on 7 steps to get started with Amex cards.
• Amex offers various cards with high annual fees.
• Amex Membership Rewards (MR) points can be complex to use.
• Importance of understanding how to maximize MR points.

Step 1: Start with Chase Cards

• Reason: Chase has valuable credit cards and a 5/24 rule.
• Action: Acquire 5-6 Chase cards before Amex.
  • Suggested cards: Freedom Unlimited, Freedom Flex, CSP, World of Hyatt, Marriott Boundless.
• Rationale: Avoid being locked out from Chase bonuses due to the 5/24 rule.

Step 2: Get the Charles Schwab Platinum Card

• Alternative: Choose between Charles Schwab Platinum or Vanilla Platinum.
• Advantage: Schwab version allows cashing out MR points.
• Annual Fee: $695, offers lounge access, travel perks.
• Once in a lifetime rule: Maximize welcome offer since you can't get the bonus again on the same card.

Step 3: Acquire the Gold Card

• Target Offer: Search for high welcome bonuses (e.g., 75,000 points).
• Benefits: 4x MR points on US supermarkets/restaurants, up to $340 in credits.
• Annual Fee: $250, can be offset by maximizing credits.

Step 4: Obtain the Blue Business Plus Card

• No Annual Fee: Simplicity and catch-all card with 2x MR points on everything up to $50,000.
• Business Card: Can be obtained without a formal business.

Step 5: Consider Hotel Cards

• Options: Hilton cards (Honors, Surpass, Aspire) or Marriott Bonvoy Brilliant card.
• Hilton Aspire Card: $450 annual fee, offers diamond status, significant credits.
• Marriott Brilliant Card: Also $450 annual fee, offers gold status.
• Strategy: Choose based on hotel preference and travel habits.

Step 6: Evaluate Delta Cards

• Options: Blue, Gold, Platinum, Reserve cards.
• Benefits: Companion certificates for free flights.
• Preferred Choice: Platinum card for balance between annual fee and benefits.

Step 7: Bonus Hunting

• Focus: Search for high-value welcome bonuses across remaining Amex cards.
• Strategy: Maximize once-in-a-lifetime bonuses and consider business cards.

Application Rules

• Limits: Up to 10 charge cards and 4-5 credit cards with Amex.
• Upcoming Content: Video update on Amex application rules for 2021.

Conclusion

• Call to Action: Engage with the content, use referral links, and explore Rakuten offers.
• Feedback Encouraged: Viewers asked for opinions and thoughts on the method.

Additional Resources

• Referral links for credit cards and Rakuten in the video description.
• Offers include a $40 bonus with qualified Rakuten purchase.