For those with Am Ex cards....

[shmike]

Originally Posted by Homeslice

Not sure where you get this theory. I don't have discipline problems either, I pay mine off every month, yet I use Visa/MasterCard.

It's not a theory.

The data shows that AmEx caters to a more affluent and more fiscally responsible crowd.

I'm not saying that you can't be responsible and use Visa/MC but the majority of users aren't.

[Homeslice]

Originally Posted by fasternyou929

AmEx cash back is tiered. For the first $6500 you spend in a year, it's 1.5% back at gas stations, grocery and drug store; 0.5% on everything else.

Beyond $6500 it's 5% at gas stations, grocery and drug stores; 1.5% on everything else. Last year I got over $1000 back, can't complain much about that!

Do you mind if I asked what types of expenditures these were? Using the highest cash back % you listed, you would have had to spend over $24,500 at gas stations, grocery or drug stores..............or a lot more than that if it was anywhere else.

[Homeslice]

Originally Posted by shmike

It's not a theory.

The data shows that AmEx caters to a more affluent and more fiscally responsible crowd.

I'm not saying that you can't be responsible and use Visa/MC but the majority of users aren't.

I realize they're more affluent. But I was talking about where you said "AmEx users typically don't have discipline problems, which is why they use AmEx."

I think you meant, "They use AmEx because it provides good benefits".

The fact that they're responsible isn't why they chose AmEx.......After all, I'm responsible, yet I chose something different.

[Sean]

So just because I use an AmEx card, I am like that idiot?

[goof2]

Originally Posted by Homeslice

Do you mind if I asked what types of expenditures these were? Using the highest cash back % you listed, you would have had to spend over $24,500 at gas stations, grocery or drug stores..............or a lot more than that if it was anywhere else.

If someone has to travel a lot for business they can easily exceed that. I haven't had to travel very much and my expenses average around 7-800 per month. I know a few people who expense $5000+ per month.

[shmike]

Originally Posted by Homeslice

I realize they're more affluent. But I was talking about where you said "AmEx users typically don't have discipline problems, which is why they use AmEx."

I think you meant, "They use AmEx because it provides good benefits".

The fact that they're responsible isn't why they chose AmEx.......After all, I'm responsible, yet I chose something different.

I should have inserted the word "can" in there. "...which is why they CAN use AmEx."

I didn't mean it as the reason they use it but the fact that they are able to consistently pay off their bills every month.

It can be done with any card but those that lack the discipline to do so will usually stick to the CREDIT companies.

[goof2]

Originally Posted by Sean

So just because I use an AmEx card, I am like that idiot?

No, other reasons.

[Homeslice]

Originally Posted by goof2

If someone has to travel a lot for business they can easily exceed that. I haven't had to travel very much and my expenses average around 7-800 per month. I know a few people who expense $5000+ per month.

I was assuming it was a personal card, given that he was talking about grcery stores, drug stores, etc.

If on the other hand it's a company card, I am surprised they let him keep the cash back. I had an Am Ex corporate card, and I never got squat from it.

[Homeslice]

Originally Posted by shmike

I should have inserted the word "can" in there. "...which is why they CAN use AmEx."

I didn't mean it as the reason they use it but the fact that they are able to consistently pay off their bills every month.

It can be done with any card but those that lack the discipline to do so will usually stick to the CREDIT companies.

Gotcha

[fasternyou929]

Originally Posted by Homeslice

Do you mind if I asked what types of expenditures these were? Using the highest cash back % you listed, you would have had to spend over $24,500 at gas stations, grocery or drug stores..............or a lot more than that if it was anywhere else.

AmEx tells you, but I think ~12% of my purchases fell in the higher rebate category.