Hidden Fees and Coupon Cards: My AMEX Gold Card Cancellation

Credit card companies list their fees, but you may have to dig through several pages to fully understand all of the fees. Not every credit card company is straightforward, and several credit cardholders complained about this growing trend on Reddit.

The original poster has an AMEX gold card and detailed all of the ways that the company messes over its customers. The top complaint was that Uber and Grubhub “inflate delivery prices to account for any applied credits.”

Other Redditors jumped in the comments to share their complaints and suggestions. The entire discussion indicates that the rewards and coupons credit cards provide aren’t as appealing as they seem.

It’s Hard To Keep Track Of Every Coupon

Every credit card offers various perks, and while a suite of discounts may seem appealing, they are difficult to manage. Some people aren’t aware of every benefit their card has, and it can feel like a part-time job to stay on top of everything.

It gets even more complex if you have multiple credit cards. Some people have a bunch of open credit cards to maximize their rewards and discounts for each purchase. These savings are often marginal and not worth the effort, especially when merchants raise their prices after the discounts go in effect.

Since it’s so hard to keep track of everything, it’s also difficult to assess how credit card companies are giving you a bad deal. “These cards are designed to stealthily [hurt your finances]. You’re not ahead. You’re paying more for everything and thanking AMEX for the privilege,” the original poster stated.

Cashback Credit Cards Are Much Simpler

Cashback credit cards with no annual fees are a lot more straightforward. Several card issuers give you 2% cashback on every purchase. If you get one of these credit cards, you don’t have to spend extra time ensuring you’re using every coupon or capitalizing on slight boosts in credit card rewards.

While you might save more money with a bunch of credit cards, it’s less stressful. These credit cards also do not have any annual fees, so you aren’t incentivized to spend as much money as possible to get an ROI on the annual fee.

Credit Card Companies Are Businesses

Although credit card companies offer great rewards and perks, it’s important to remember that they are still businesses. Financial firms aim to profit from your credit card usage. The perks and rewards of owning a credit card can be invalidated by interest accumulation on a high balance.

Credit card companies want you to make as many purchases as you can. Points and rewards serve as an incentive that makes it easier and more beneficial for people to make additional purchases.

“Amex (and most credit card companies) have gamified the idea of buying things. The coupons, the hotel status, the multipliers, etc., are all there to make you spend more money, and feel good about spending it. There are winners and losers in this game,” one Redditor stated. 

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