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How do Amex Charge Cards Work

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Anonymous
Not applicable

How do Amex Charge Cards Work

I've never had an Amex.

 

Prequalified for the Amex Green Card for the first time.  Do I want it, or do I wanna pass for now and wait for better offers?

 

Thanks!

Message 1 of 24
23 REPLIES 23
Anonymous
Not applicable

Re: How do Amex Charge Cards Work

I recommend going to Amex site for offer.
Prequalifed does not mean approved. IMO I would wait and improve scores.
Message 2 of 24
MrDisco99
Valued Contributor

Re: How do Amex Charge Cards Work

Amex charge cards are just another credit product.  Only, unlike revolving credit cards where paying in full every month is recommended, with charge cards it's an absolute requirement.  You can't carry a balance on it, so there's no interest rate, just a penalty fee (and a nasty mark on your credit) if you don't pay the entire balance.

Amex has added some revolver-like features to theirs in the form of the "pay over time" feature, but there are strict rules around it and you can't make use of it until they offer it to you.

Is there a reason you were looking at the green card?  There's really not a very compelling case for that card.  I only got mine to snag the 25K point bonus and haven't used it since.  I plan to cancel it when it's a year old.

Depending on your travel and shopping habits, the ED, EDP, or PRG are far better for earning points, and the PRG adds some travel perks along with that ($100 airline incidental reimbursement, no FX fee).  The ED and EDP are revolvers and the PRG is a charge card like the green.

Message 3 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work


@MrDisco99 wrote:

Amex charge cards are just another credit product.  Only, unlike revolving credit cards where paying in full every month is recommended, with charge cards it's an absolute requirement.  You can't carry a balance on it, so there's no interest rate, just a penalty fee (and a nasty mark on your credit) if you don't pay the entire balance.

Amex has added some revolver-like features to theirs in the form of the "pay over time" feature, but there are strict rules around it and you can't make use of it until they offer it to you.

Is there a reason you were looking at the green card?  There's really not a very compelling case for that card.  I only got mine to snag the 25K point bonus and haven't used it since.  I plan to cancel it when it's a year old.

Depending on your travel and shopping habits, the ED, EDP, or PRG are far better for earning points, and the PRG adds some travel perks along with that ($100 airline incidental reimbursement, no FX fee).  The ED and EDP are revolvers and the PRG is a charge card like the green.


OP, this is an excellent response^^^.

Message 4 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work

Question.. why am I pre approved for every amex card but not any of the charge cards.

I opened Delta in Oct and SPG last week. I went down the line today and all cards pre approved but I want the Platinum for gold status for SPG.

No derogatories in the last 24 months, no missed payments. Uti is 15%. Delta pif prior to cut date every month. AAOA 7 yrs, Income 119k
Message 5 of 24
GeorgiaBulldog
Regular Contributor

Re: How do Amex Charge Cards Work


@Anonymous wrote:
Question.. why am I pre approved for every amex card but not any of the charge cards.

I opened Delta in Oct and SPG last week. I went down the line today and all cards pre approved but I want the Platinum for gold status for SPG.

No derogatories in the last 24 months, no missed payments. Uti is 15%. Delta pif prior to cut date every month. AAOA 7 yrs, Income 119k

That is strange... Charge cards are usually easier to get than credit cards with Amex, and you've got plenty of income. You're probably fine trying to apply for a charge card... If it's a decline it should be a soft pull anyway. So may as well go ahead and get the Platinum if you want it.

Favorite cards: AMEX Morgan Stanley Platinum | BofA Alaska | Chase Hyatt | Citi AA Executive | FNBO Amtrak
Message 6 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work

Forgot to mention my corporate green card that I know they can see. I will wait a couple of more weeks then apply if it doesn't show by then.
Message 7 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work


@MrDisco99 wrote:

Amex charge cards are just another credit product.  Only, unlike revolving credit cards where paying in full every month is recommended, with charge cards it's an absolute requirement.  You can't carry a balance on it, so there's no interest rate, just a penalty fee (and a nasty mark on your credit) if you don't pay the entire balance.

Amex has added some revolver-like features to theirs in the form of the "pay over time" feature, but there are strict rules around it and you can't make use of it until they offer it to you.

Is there a reason you were looking at the green card?  There's really not a very compelling case for that card.  I only got mine to snag the 25K point bonus and haven't used it since.  I plan to cancel it when it's a year old.

Depending on your travel and shopping habits, the ED, EDP, or PRG are far better for earning points, and the PRG adds some travel perks along with that ($100 airline incidental reimbursement, no FX fee).  The ED and EDP are revolvers and the PRG is a charge card like the green.


MrDisco99!!

 

Thanks a million for the great information!  That's the bombdiggity!

Message 8 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work

Thanks, all!

 

This is the first prequalification that i've seen onliine for AMEX.  I am just curious.  This could also be my first prime card.  Amex would look good in the wallet.  I don't plant to use it much, only ocassionally to keep it open.  When I first saw that I am prequalified, I know it isn't certain, my first thought was that it could get me in the door with AMEX.

 

Thanks again!

 

Peace!

Message 9 of 24
Anonymous
Not applicable

Re: How do Amex Charge Cards Work

So, I just wanna make sure that I read this right!

 

Did you say the application is a soft pull.  Or, is it only a soft pull if you are already in with AMEX?

 

Thanks!

 

Peace!

Message 10 of 24
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