M² Episode 145: All Amex, All the Time (and more) with special guest CF Frost

0:24 Late Amex +4 for us Moves

• Sam:
• Second referral from P2->P1 on her Gold card (targeted for Gold - PLT 25k/10x offer).
• Third attempt from P1-P2 on a BBP for 6x anywhere.  Initial app resulted in P2 receiving the “Based on your history with American Express” penalty Box Popup. That’s very new (1 month ago was not there). Went ahead without the bonus.
• A few forced denials (Business Green on P2 side, Personal green / Business Delta on P1).  I’m now at 10 Charge cards 5 CC.  I have to consider if I want/need to reconsider these.
• Is the forced Denial even worth doing?
• Robert:
• I think the key move here is to stack the +4x with some other bonus, and the most broadly applicable I think was getting +5x by adding up to 5 employees to business cards for 20,000 per $4,000 spend (more on that below)
• Referred from Business Gold to Blue Business Plus. Got the “history” pop-up. Plowed forward, got an instant card number, added to account, referred back from that for a Business Green. So this is two more +4x referrals that can each earn additionally through employee bonuses and/or gas station spend (in the case of the Business Gold).

10:15 Recap: Amex Opportunity Roundup (great to stack with cards that got +4x for referring)

• Business cards, add up to 5 employees, 20,000 for $4,000 (link to check)
• Add Personal Gold AU 10,000 for $2,000 (link to check)
• Add Personal Platinum AU 20,000 for $2,000 (link to check)
• Upgrade to Personal Platinum for 25k/10x at gas/grocery (link to check)
• 10x Gas/Grocery from upgrading to Personal Platinum
• 10x/15x Shop Small/Restaurant for new Personal Platinum

15:42 How We’re Spending on Amex Cards Right Now

• With so many upgrade/AU/employee/+4x opportunities it’s worth revisiting this topic I think
• Tough to do this without cannibalizing some other bonused opportunity
• Fluz
• Grocery Store Cards (Citi robot will start taking 2029 cards in Jan 2022, and 2030 exp for Citi SYW card)
• mastercardgiftcard.com fee-free MCGCs w/code SHOPEARLY2021, liquidated on Plastiq at 1%. Who knows when code will end, but I haven’t hit this hard enough.
• Giftcards.com VGC/MCGC deals when on sale/supported by portal bonuses, liquidated through Bravo
• Buyers groups
• GC reselling
• Gas/Grocery?

24:55 Amex Allowing 6th Credit/11th Charge Cards for Some?

• Reports of 6th credit card,11th charge card, or both, or more (strong!)
• I thought for sure I’d have to close my Schwab card to get approved for a Business Green but I was approved for an 11th charge card and didn’t have to close the Schwab card
• Unclear whether this is related to loosening approval standards around +4x
• Mark this developing...

30:26 Ranked: The Most Annoying Amex Credits of 2021

• Personal Platinum: Saks $50/6 months
• Business Platinum: Dell $200/6 months
• Business Platinum: Wireless $10/mo
• Personal Platinum Audible/Streaming Credits
• All Platinum: Global Entry/Clear
• Personal Platinum/Gold: Uber Credits (going berserk in Dec)
• Platinum Cards/Hilton Aspire: Air Incidentals

31:30 Final Dell/Pirate Ship Update

• Pirate Ship “ShipSurance” rejected my claim because it was a laptop, and laptops require a signature to be insured. Requiring a signature is non-default shipping option with Pirate Ship. Their T&Cs do mention this, but it would be nice if they asked what you were shipping then selected the required options to make insurance work.
• I hate it when I pay for insurance and they don’t pay out but I’m done with this.
• Pirate Ship refunded me the $12 x 2 but I’m out around $500 for this debacle. The Amex benefit did trigger, so it’s as if I just let the credit go (but with a lot more stress and wasted time).
• January 1st looms with resetting $200 credits on Business Platinums.

46:25 Morgan Housel Blog

• Author of Psychology of Money
• Great post: Assured Misery