topic Re: AMEX Charge Card in Credit Cards

AMEX Charge Card

MrChairman — Sat, 14 Apr 2012 23:45:04 GMT

I have pondered over and over about why people are so in love with AMEX charge cards. I see no real purpose of value for them. The argument I always get is all of the "free" perks which in actuality aren't free because of the exorbent AF's you pay to carry it. Can someone please enlighten me with a valid argument on why I should/need to add an AMEX to my portfolio.

Re: AMEX Charge Card

afbar1114 — Sat, 14 Apr 2012 23:52:28 GMT

well for me it makes me watch me watch my spending as i need to pay if full. i am forced to pay in full. it also has no set limit meaning any balance reporting will not factor into UTL. it also has helped me with other banks as AMEX is a hard card to get and when CSRs see an amex they tend to see it as a plus

Re: AMEX Charge Card

Koop10010 — Sun, 15 Apr 2012 00:07:05 GMT

No PreSet Limit: you're spending ability can grow a lot faster than a traditional credit card with a hard limit.

Full MR Program: the ability to transfer points to frequent flier programs.

Utilization: you can spend all you want and let it report without worrying about your credit score being affected by increased utilization.

Extra benefits that come with some cards: PR Gold can rack up points quickly for some spending patterns, Platinum has a lot of included benefits that can more than makeup for the fee.

Also, while you do have to pay in full generally, there are ways to finance charges. Also if you do finance a specific charge, you only pay interest on that one purchase, you can still use the card for regular purchases interest free. Amex charge cards aren't right for everyone, but no credit card is. Just because a card doesn't fit your needs, doesn't mean that it can't be of great value to someone else.

Re: AMEX Charge Card

afbar1114 — Sun, 15 Apr 2012 00:14:40 GMT

also there CS is awesome. when i call i always get someone stateside. not over seas and i can understand them. they are very helpful.

Re: AMEX Charge Card

LS2982 — Sun, 15 Apr 2012 00:43:36 GMT

afbar1114 wrote:
also there CS is awesome. when i call i always get someone stateside. not over seas and i can understand them. they are very helpful.

Lately that hasn't been the case with some members saying they are getting overseas reps.....

Re: AMEX Charge Card

Creditaddict — Sun, 15 Apr 2012 02:10:08 GMT

I will respond from a little bit personal and little bit business and a point from each post that has responded so far:

If you travel a lot, or actually not even a lot, I use to travel 3-5 days a month, First few times I called Amex to let them know where I would be "state" and how much I planned on spending - usually $8k-$15k... about the 3rd month the rep just said kindly "Sir, as much as we appreciate you calling in it is not neseccary to spend your time doing it!

so first point, I did happen to have a couple cards that had $15-$20k limits so I could have the option of no Amex but many especially a new business (even back when credit was easy I didn't think of having high credit lines or a business credit card with my credit needing to be over $10k... when I realized I did need over $10k it isn't always an option to get a personal card up that high on initial approval, charge card can move up to that very quickly.

I have 2 different travel months and different credit and...

1. Chase Southwest - I was in Coach outlet in FL, I had about $13,500 available out of the $14,400 line but also Signature - not sure if it would go above the line but either way... Mind you I have called Chase and told them I would be in FL and a good chance that I would use almost the entire line while in FL - Chase assured me it was noted and if I stayed within CL they would not have any issues. Purchase was right around $8200... Swipe - Decline... You know that look from sales associate, if they still have card in hand they usually will be like oops and swipe again (my bad, not ur card!) 2nd swipe - "Im getting reference to call, do you want me to call or do you have another card?" Yes please call (I of course planned for this so Amex Gold Business Charge was right in front of me in wallet!) So she talks for a bit, goes over total, ID, etc. etc. then Chase wants to talk to me... so she is asking some questions, asking another bank card that's on my reports, limit, last payment on this card I'm trying to use, then pulls the security questions from credit and asks them... it went on and on and on... Now I have to say I rarely get embarrassed about a credit card decline or having to call but even this pushed my limits... it literally took over 30 minutes of rep talking to Chase and me talking to chase before they would provide a code for card to be charged.

2. Macy's Visa (before it was Amex) $12k line $0 balance (called for where I would be traveling, NY not in NYC.

Very first store Dooney and Bourke they needed to ring my transaction into 2, first approved, 2nd declined... Walk outside call, fraud flag for 2 charges same location within a couple minutes, I kinda get it, because when cards are stolen you usually see test charge and if that works... boom boom boom 5 others come in instantly almost.

so security freeze listed, go back inside charge approved... head to next store 5 minutes later swipe and DECLINE. outside, fraud, unlock and move on... next day flying home, coffee in airport, DECLINE - Lets just say I was a little irritated.

Anyway sorry I went long but basically the point is Amex almost never has just cut me off at a register for a large purchase or multiple charges and if it has happened I usually get a call or i call them and it's fixed in a minute or two.

Also being able to get emergency help with new card, cash, Id etc. if traveling and robbed or something is pretty amazing.. luckily I have not had to try it out to see if it's as amazing and as easy as it sounds but just the offer at all seems very nice over any other banks.

Re: AMEX Charge Card

Strytnyne — Sun, 15 Apr 2012 00:46:42 GMT

when i called to check my CL i got someone stateside but got transferred to overseas i believe.

Re: AMEX Charge Card

Koop10010 — Sun, 15 Apr 2012 01:26:06 GMT

The last couple times I've called Amex I've gotten a foreign rep. Their accents weren't too strong though; they were perfectly understandable and courteous.

Re: AMEX Charge Card

-Cain- — Sun, 15 Apr 2012 01:31:25 GMT

I have limited credit history, I am using the AmEx charge card as a means to get to an AmEx revolver sooner. I also use my card at Costco and get some reward points instead of using my debit card and getting nothing. Since I PIF, I don't have to worry about interest. My first year AF is waived and I will hopefully have my revolver by year two. Backdating will help AAoA when I get future AmEx cards.

Re: AMEX Charge Card

webhopper — Sun, 15 Apr 2012 01:38:00 GMT

Charge card helps me cash flow business trips. Love the amex MR system. I like the way there are no issues from amex for my heavy use and abuse of their card. And the Trojan on the front of the card is a hottie!

Re: AMEX Charge Card

FicoTron — Sun, 15 Apr 2012 03:06:28 GMT

If you spend enough to earn enough points to pay the AF and then some, then it is worth it. That's why I do it, plus the bennies don't hurt. Plus it helps get better cards down the road. And some of us don't rely on laying balances off and paying a percentage on it. I use my Amex as my debit card. Which means it gets used a lot.

Re: AMEX Charge Card

improvingmycredit — Sun, 15 Apr 2012 17:18:50 GMT

MrChairman wrote:
I have pondered over and over about why people are so in love with AMEX charge cards. I see no real purpose of value for them. The argument I always get is all of the "free" perks which in actuality aren't free because of the exorbent AF's you pay to carry it. Can someone please enlighten me with a valid argument on why I should/need to add an AMEX to my portfolio.

MrChairman - The AMEX charge card isn't for everyone. If you don't see any value in them, then you will find none. I personally enjoy the use of the card as my every day card. I use it as a debit card for everything. I earn rewards, more then enough to cover the fees + some. Thus this card is free for me. I don't have to worry about fraud and it doesn't affect my utility at all like use would with a revolver. I don't have a spending limit. (so to speak) These points themselves are more then enough value in my opinion. I really hope this helps you. Every card is what you make of it. I hope you find the perfect card for you. :)

Re: AMEX Charge Card

Open123 — Sun, 15 Apr 2012 17:25:28 GMT

improvingmycredit wrote:
I really hope this helps you. Every card is what you make of it. I hope you find the perfect card for you. :)

Very salient point, which is why there are so many cards!

There's never a one size fits all in any product or service. There are different levels geared towards each person's income, needs, and preferences. Many fail to see the value on paying a fee for spending money since no benefits are derived from the fee. Likewise, I can't understand why a person would choose a card just because it has no fee and fail to reap the benefits of fee based cards.

What I've noticed is that while fee based card users seem to have a better understanding of why others op for no fee cards, the reverse isn't true--no fee card users tend to not understand why anyone would pay a fee for a card, for any reason.

Re: AMEX Charge Card

tinuviel — Sun, 15 Apr 2012 17:39:59 GMT

Open123 wrote:
improvingmycredit wrote:
I really hope this helps you. Every card is what you make of it. I hope you find the perfect card for you. :)
Very salient point, which is why there are so many cards!

There's never a one size fits all in any product or service. There are different levels geared towards each person's income, needs, and preferences. Many fail to see the value on paying a fee for spending money since no benefits are derived from the fee. Likewise, I can't understand why a person would choose a card just because it has no fee and fail to reap the benefits of fee based cards.

What I've noticed is that while fee based card users seem to have a better understanding of why others op for no fee cards, the reverse isn't true--no fee card users tend to not understand why anyone would pay a fee for a card, for any reason.

True. I've always felt that if the benefits of a card outweigh the fee, then it's a win. And the value of the specific benefits -- cash back, points, travel rewards, etc. -- will vary depending upon the individual's spending pattern and needs. Therefore, there is no one right card for everybody. That's why it's important to research what's out there and try to obtain what's best for you.

Re: AMEX Charge Card

improvingmycredit — Sun, 15 Apr 2012 17:52:28 GMT

tinuviel wrote:
Open123 wrote:
improvingmycredit wrote:
I really hope this helps you. Every card is what you make of it. I hope you find the perfect card for you. :)
Very salient point, which is why there are so many cards!

What I've noticed is that while fee based card users seem to have a better understanding of why others op for no fee cards, the reverse isn't true--no fee card users tend to not understand why anyone would pay a fee for a card, for any reason.

True. I've always felt that if the benefits of a card outweigh the fee, then it's a win. And the value of the specific benefits -- cash back, points, travel rewards, etc. -- will vary depending upon the individual's spending pattern and needs. Therefore, there is no one right card for everybody. That's why it's important to research what's out there and try to obtain what's best for you.

+1 Thanks tinuviel and open

Your statements directly reflects what I meant when I wrote: If you don't see any value in them, then you will find none.

I have family members that I don't see eye to eye with regarding fees for cards. Kinda funny really. Right brain/ Left brain. Not that they are wrong in their beliefs, but to each his own. They will never see the value in a fee based card and I see/understand this point. They however do not see/understand mine. :)

Re: AMEX Charge Card

WilliamCali — Sat, 06 Apr 2013 16:39:56 GMT

So whats wrong with talkign to overseas reps???

As long as they are courteous and are part of Amex, should you not focus on your issue at hand? This is a business right. :-)

When people start saying "...sounded like an accent..". Well, "...sounds like racism..." to me.

Enjoy :-)

Re: AMEX Charge Card

youngandcreditwrthy — Sat, 06 Apr 2013 17:04:15 GMT

Amex CSRs with my BCE are extremely nice and professional :-)

Re: AMEX Charge Card

E150GT — Sat, 06 Apr 2013 17:35:40 GMT

I like mine but I dont think I will keep mine past a year. It is nice to not worry about a limit but since I got my CSP I plan to use that. I dont mind paying one fee, but I cant pay two if I cant use both cards to justify it.

Re: AMEX Charge Card

TwinGirls19 — Sat, 06 Apr 2013 18:30:53 GMT

its an amex thats why lol. When you pull out the green, people look at you differently. Atleast for me at 25 years of age, it feels like that. and I've only had it for a couple of days. but adding to what everyone said a charge card keeps you on budget.

Re: AMEX Charge Card

thom02099 — Sat, 06 Apr 2013 20:04:40 GMT

improvingmycredit wrote:
MrChairman wrote:
I have pondered over and over about why people are so in love with AMEX charge cards. I see no real purpose of value for them. The argument I always get is all of the "free" perks which in actuality aren't free because of the exorbent AF's you pay to carry it. Can someone please enlighten me with a valid argument on why I should/need to add an AMEX to my portfolio.
MrChairman - The AMEX charge card isn't for everyone. If you don't see any value in them, then you will find none. I personally enjoy the use of the card as my every day card. I use it as a debit card for everything. I earn rewards, more then enough to cover the fees + some. Thus this card is free for me. I don't have to worry about fraud and it doesn't affect my utility at all like use would with a revolver. I don't have a spending limit. (so to speak) These points themselves are more then enough value in my opinion. I really hope this helps you. Every card is what you make of it. I hope you find the perfect card for you. :)

+1, Couldn't agree more ! !

Value is a perception, what one gets from a product. If one perceives no value TO THEM, then it is NOT valuable. It's an individual thing. Everyone has a bias, whether it be credit cards, tires for your car, model of car you drive, fast food joint, or anything at all. This bias is what places a value on a particular item.