topic Re: With all the Amex bashing... in Credit Cards

With all the Amex bashing...

athensguy — Fri, 22 Aug 2008 19:36:25 GMT

I want a charge card. Is there anything other than Amex Charge cards and Diners Club cards that is treated like a charge?

Re: With all the Amex bashing...

Anonymous — Fri, 22 Aug 2008 19:41:47 GMT

Store cards? Target reports as a charge card. I'm certain that's not what you were shooting for, but just incase you wanted it for the mix...

Re: With all the Amex bashing...

athensguy — Fri, 22 Aug 2008 19:46:35 GMT

I want a card that requires PIF each month. The Visa Sig and World MC cards are supposed to report similarly, but they seem to fail to be reported properly fairly often.

Re: With all the Amex bashing...

Anonymous — Fri, 22 Aug 2008 19:49:15 GMT

Gotcha. I don't know of any. I just noticed that Target actually reports as a charge card.

I didn't realize that the Signature cards were PIF cards. Makes sense with the no preset spending, but I guess I never put 2 + 2 together...kinda dumb of me. Just never thought about it I guess.

Re: With all the Amex bashing...

haulingthescoreup — Fri, 22 Aug 2008 19:53:17 GMT

@Anonymous wrote:

Store cards? Target reports as a charge card. I'm certain that's not what you were shooting for, but just incase you wanted it for the mix...

The "charge card" thing gets confusing. Store cards, often called charge cards, are really revolving, but they get credit for improving your credit mix. (Dunno why.) But the other "charge cards" are not revolving and must be PIF'd monthly. And you don't get any special score bennies for using them. They just don't get factored into your util. Unless the CCC changes its mind.

athensguy, I don't know of any other pure charge cards off the top of my head.

FWIW, I don't *think* that I've read any posts by someone who only had a charge card from AmEx, not a revolver, and had problems. But there's been such a flood...

I wouldn't mind keeping the Gold card, but that fee is pretty sobering. One way of looking at it is that I would need 14,500 points every year just to cover the fee, and after 5 months, I'm barely up to 10,000. The math doesn't look good.

Re: With all the Amex bashing...

Anonymous — Fri, 22 Aug 2008 19:55:15 GMT

Thanks, Hauling for the clarification on that, I was totally confused.

As to any reports of problems with Amex charge cards. Check out my last post or so on Timothy's thread, I actually found someone that had this same problem like 2 days ago with the charge card.

Re: With all the Amex bashing...

haulingthescoreup — Fri, 22 Aug 2008 19:58:08 GMT

@Anonymous wrote:

....As to any reports of problems with Amex charge cards. Check out my last post or so on Timothy's thread, I actually found someone that had this same problem like 2 days ago with the charge card.

Thanks --as soon as I posted that, I had the tiny niggling memory. At this rate, we'll need a separate forum for The-Card-That-Must-Not-Be-Named.

Re: With all the Amex bashing...

MattH — Fri, 22 Aug 2008 20:27:38 GMT

@haulingthescoreup wrote:
...
FWIW, I don't *think* that I've read any posts by someone who only had a charge card from AmEx, not a revolver, and had problems. But there's been such a flood...

I wouldn't mind keeping the Gold card, but that fee is pretty sobering. One way of looking at it is that I would need 14,500 points every year just to cover the fee, and after 5 months, I'm barely up to 10,000. The math doesn't look good.

I've had my AMEX Gold, not any species of rewards card, just a traditional charge card, for a long time. Main reason I keep it active is it's my oldest account so it increases my account age in the FICO scoring model, and also showing some decision maker that card with "Member Since 82" printed on it can sometimes be useful -- especially if that decision maker has been around long enough to realize that 25 years ago AMEX was very selective. Actually certain charges CAN be revolved on my AMEX Gold, while others must be paid in full, but I pay little attention to the difference because I pay all my accounts in full every month anyway. I've never had any issues with AMEX myself, nor have they ever had any issues with me. About every other month they make yet another attempt to persuade me to get AMEX Platinum, but most of what I'd get with Platinum that I don't already have with Gold seems targeted for people who travel a lot more than I do, I could easily afford the annual fee of an AMEX Platinum card but it's just not worth it to me. As for the annual fee on my AMEX Gold card, one of the services that comes with mine is emergency auto service, so after subtracting what I'd pay for AAA membership my fee isn't all that bad actually.

Back in the days before international ATM networks I used to cash checks at American Express offices when traveling abroad, but now I can't remember the last time I cashed a check, and some months I don't even write any paper checks, as I do nearly all financial stuff electronically nowadays.

I've also got a green AMEX Corporate Card for work-related travel, but that account has never appeared on my credit history because my employers pay those bills by electronic funds transfer.

The rest of my cards are regular credit cards.

Message Edited by MattH on 08-22-2008 04:27 PM

Re: With all the Amex bashing...

haulingthescoreup — Fri, 22 Aug 2008 20:23:10 GMT

MattH, do you just sort of grit your teeth about the annual fee? You don't worry about scrounging enough benefits to balance it out?

Re: With all the Amex bashing...

MattH — Fri, 22 Aug 2008 20:33:02 GMT

@haulingthescoreup wrote:
MattH, do you just sort of grit your teeth about the annual fee? You don't worry about scrounging enough benefits to balance it out?

Well, for my Card the annual fee is 85 dollars a year, and one of the services included with my Card is roadside assistance, so after subtracting what I'd pay for something like AAA if I didn't have that, it's not all that much. Now for the Platinum Card, that fee IS too much for me to justify -- I could easily afford it, but I simply don't travel enough to justify that.