To go for the Amex Platinum or keep looking

[MCHammerFan]

I've had my two CC's for about a year now and now thinking about getting a better card. Currently I have:

Capital One "Platinum" Mastercard: A card with a $750 limit and a really high interest rate. It's only redeeming factor is it's 0% foreign transaction fee. Bank of America Platinum Plus: My first major card. I originally got it because I wanted the Hello Kitty design, then some store I went to had a skimmer on it or something so I have a plain old card with a healthy limit of $2000 but a interest rate of 20.99 after the 0% APR promotional period. But the Worldpoints Program is slow to accrue and the value of the points is minimal at best.

I've always paid off my cards in full before the next statement period except for the BoA card which I made larger purchases on but I'm done paying off at this point. The Amex Platinum really had me looking since it has the 0% foreign transaction fee and it's perks. Though the issue is its massive $400 annual fee. I don't fly very often maybe like every 2-3 years but if I do it's overseas and I would spend a lot. I do stay at a hotel once every year due to conferences for work and I do order items overseas very often so I don't like getting hammered with a 1-2% fee for conversions, the USD is weak enough as it is. So I guess I'm looking for a card with: 0% foreign transaction fees A reasonable interest rate (Guess my scores have more to do with that) Nice way to earn rewards...preferably cash back or gift certs. I really dont think I would be denied if they sent me one of those invite codes though, but I think the Platinum is one of the harder cards to get and my scores are sorta borderline I think.

[Anonymous]

Amex Platinum is not actually that hard to qualify for; from what I can see, I think you'd have a good chance.  It is a charge card, so you generally can't carry a balance.  It also is a NPSL card.  It doesn't mean unlimited spending, but your internal limit will generally grow faster than a credit card's hard limit.  The annual fee is quite hefty though.  If you don't travel enough for the benefits to offset the annual fee, it's probably not worth it.  Sure, there is no Forex fee, but there are other cards that waive those fees with lower or no annual fee.

[crunching_numbers]

There are cheaper no FTF cards out there, if that is what your primary  concern. For example Chase has several (Sapphire preferred, Hyatt, British airways, JP Morgan).  Hyatt has a pretty good deal with it, and if you bank at chase, alot of people like the SP+Freedom+checking points deal.

I would do my homework, because for the usage you are planning, there are less expensive options out there.

[tray]

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@crunching_numbers wrote:

There are cheaper no FTF cards out there, if that is what your primary  concern. For example Chase has several (Sapphire preferred, Hyatt, British airways, JP Morgan).  Hyatt has a pretty good deal with it, and if you bank at chase, alot of people like the SP+Freedom+checking points deal.

I would do my homework, because for the usage you are planning, there are less expensive options out there.

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+1 I would say chase sapphire preferred

[CreditScholar]

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@tray wrote:

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@crunching_numbers wrote:

There are cheaper no FTF cards out there, if that is what your primary  concern. For example Chase has several (Sapphire preferred, Hyatt, British airways, JP Morgan).  Hyatt has a pretty good deal with it, and if you bank at chase, alot of people like the SP+Freedom+checking points deal.

I would do my homework, because for the usage you are planning, there are less expensive options out there.

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+1 I would say chase sapphire preferred

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+2. The CSP is an excellent card, has great rewards and has a low AF.

[Crashem]

Nice thing about AMEX charge cards is the fact that modern FICO scores don't take those balances into account.  Not the TU98 sold here, but pretty much any score used by lenders today.