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Why Amex???

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TheGardner
Valued Contributor

Re: Why Amex???

To some.
If anyone needs me I will be In The Garden. Goal Score: 760 for all in 2015.
Current FICO Scores EX: 715 EQ: 756 TU: 762
Last APP April 21, 2015.
Victim of The great AMEX HP heist of Dec 1st, 2nd and 3rd of 2014.
Message 21 of 22
takeshi74
Senior Contributor

Re: Why Amex???


@CYBERSAM wrote:

So I was thinking,why Amex?


Good question.  Why are you assessing on a creditor level?

 

Use your needs/wants to find specific products that suit you versus selecting a creditor (who offers various products) and trying to justify the creditor.  You're going about it backwards IMO.

 


@CYBERSAM wrote:

I was planning to get Amex Blue or other Amex by the end of the year, for couple of reasons. 1st for prestige of having Amex


It's your call if you want to use that as a justification but prestige does not come from a card or creditor.

 


@CYBERSAM wrote:

As far as perks and bonuses, there are many Visa and MCs that have similar or better incentives vs. Amex! So no advantage there either!



@CYBERSAM wrote:

Now as far as negatives about Amex, we all know that they are NOT accepted everywhere, also they don’t offer free FICO score as many Visa and MC cards do!


Run the numbers for your spend.  Don't rely on such broad generalizations.  Acceptance has never been an issue for me but each needs to determine how big on an issue it is for the individual.  Visas and MC's vary widely so you can't just lump them all together and expect to have any sort of meaningful comparison.  Free FICO's are gravy but not a deciding factor for me and "many" and "all" are two entirely different things.

 


@CYBERSAM wrote:

Just to be clear I’m not trying to knock Amex and I respect many fans that they have, but what would be the reasons for me and others like me that want to consider Amex in the future should even care to have it?


That's up to each to determine -- again, based on individual needs/wants.  Do not rely on generalizations.  Consider how each card specifically suits you or not).  We can't tell you why unless you can supply us with the information to make such recommendations.  No creditor or product is one-size-fits-all.  It's always about finding suitable solutions for a given individual.

 

For example, the rewards, cap and AF of the BCP make sense for me but that might not be relevant to you.  For many the Sallie Mae offers better total benefit.  I find both of them useful.

 

My wife and I are currently taking the Morgan Stanley Platinum out for a spin.  It might not be suited to us in the long run but with the 50K bonus. airline fee credit and Global Entry credits it's worth a shot for at least the first year in our opinion.  YMMV.

 


@Anonymous wrote:
For me us bank is my new favorite. High credit line without the red tape Amex is known for. 

Again, YMMV.

 

My AmEx limits are much higher than my US Bank limit even after getting my cash+ doubled.

Message 22 of 22
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