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Amex everyday vs just a charge card

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dk2003
Regular Contributor

Amex everyday vs just a charge card

So... I tried some time ago to get amex and was denied even after recon. Made me ill!!! We'll I finally got amex everyday. The dw wants a charge card. Is there a benefit to having a charge card other than PIF? Also will amex use the same hard pull???
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Anonymous
Not applicable

Re: Amex everyday vs just a charge card

 

The charge cards all have a high AF so in my opinion they are not worth it unless you can see clearly how you are going to recover the AF from the benefits they offer. 

 

As for other benefits, the only "benefit" of being charge card is that in some FICO models the balance on your charge card isn't counted in your utilization. When I had my charge card I was using it as my go-to card and putting all my spending on it trying to earn MR points. That meant that all my other cards had very low usage and the bulk of my spending on the charge card was being ignored in utilization calculations. Helped keep my score a little higher by keeping my utilization low.

 

BUT... that's not worth paying an AF for. You can accomplish the same thing by paying down your cards before the statement cuts. 

 

The other benefit is the cards LOOK really classy. I don't know what it is. The BCE/ED cards don't have that classic Amex look. I liked pulling it out in restaurants--just has that look, which is probably what your DW wants. I didn't like it so much that I paid the AF after the first free year though.

 

Ask if they will use the same HP--I have no idea if they will--if they will you can always cancel the card after a year before paying the AF!

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