@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. 
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@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.
@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.
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@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.
@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.