I was doing some digging on the AMEX website. It's amazing the information you can find if you dig things up a bit. They have all sorts of hidden information. I found this the other day and thought since we get these questions so often, why not make a post that should help everyone out. Again this is not my opinion, rather this is AMEX's own reasoning. Maybe someone should sticky this so once and for all we will have answered the question that gets asked at least once a day here:
Direct from AMEX website:
FEES & LIMITS
Did you know that debit cards may allow users to overdraw or spend more than they have in their checking account and then charge an overdraft fee (fees could be as high as $381)? The ZYNC Card has no pre-set spending limit2 and does not charge over-limit fees.
BUILDING CREDIT
Did you know that debit cards do not report to the credit bureau? So if you're looking to build your credit history, you're better off using your ZYNC Card.
FRAUD PROTECTION GUARANTEE
Use your ZYNC Card online or off, and you won't be held responsible for any unauthorized charges. Period. No fine print, no deductible-just pure protection, so you can shop with confidence.
BUYER PROTECTION SERVICES
Did you know that many debit cards do not offer Buyer Protection Services to protect eligible purchases? To see what comes with your ZYNC Card, click here. REWARDS
With your ZYNC Card, you can earn one Membership Rewards® point for each dollar you spend on purchases. And there are many ways to earn even more points. Plus, points don't expire and popular rewards start at just 1,000 points.3 How does your debit card's rewards compare?
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Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??
Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000