Credit Cards

[MrChairman]

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.

[afbar1114]

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

[Koop10010]

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.

[afbar1114]

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.

[LS2982]

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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.

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

[Creditaddict]

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.

[Strytnyne]

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

[Koop10010]

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.

[-Cain-]

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.

[webhopper]

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!