AMEX

[loyalsudz]

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@loyalsudz wrote:

So it is the basic AMEX green card and from what they said, there is no preset monthly limit. Also, I love that you and your family love Dave Ramsey.  I feel like I have found a kindred spirit.  Great advice! I definitely pay in full monthly and avoid interest.  I have my fully funded emergency fund and a traveling sinking fund from my reimbursements.

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Just remember - you have a charge card and not a credit card. You really have no choice in the matter but to pay the entire balance off monthly. No pre set spend limit means just that. It does not mean that there is not a cap on how much you can put on the card in any given month. Also, it can vary from month to month, week to week, day to day depending on the Amex algorithm.

You have to ask "Would Dave really approve of me having a charge/credit card to begin with?"

This charge card matches my criteria for the type of card I was looking for.  I am so happy!  I wanted to be able to pay for my travels for work without being dinged because I have lower credit limits on my credit cards.  According to nerdwallet, they stated "when credit bureaus see open accounts with high limits instead of credit limits, they simply don’t include them in their debt utilization ratios, so they have neither a negative nor positive impact on your score." And this hopefully will prove to be my "goto" card.  Unless I still end up getting dinged for having a balance for the month. Please someone clarify how that works. Hopefully, it really is the best of both worlds at least for me.  I heard that several users of the charge card were offered the pay over time offer with this very card so this is promising.   My budget is pretty set so I see no problems with adding in rewards points for purchases.  As for the cap, the faster you pay it off the better you look to AMEX and I am thinking you can call if a transaction goes down hill.   But I will baby this card for the next several years while I save up for down payment on a house. 

As for asking "would Dave really approve of me having a charge/credit card to begin with?"  I have the utmost respect for Dave but I would not ask him or anyone else for his or her approval. 

Thank you!!!

[sjt]

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@loyalsudz wrote:

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@loyalsudz wrote:

So it is the basic AMEX green card and from what they said, there is no preset monthly limit. Also, I love that you and your family love Dave Ramsey.  I feel like I have found a kindred spirit.  Great advice! I definitely pay in full monthly and avoid interest.  I have my fully funded emergency fund and a traveling sinking fund from my reimbursements.

---

Just remember - you have a charge card and not a credit card. You really have no choice in the matter but to pay the entire balance off monthly. No pre set spend limit means just that. It does not mean that there is not a cap on how much you can put on the card in any given month. Also, it can vary from month to month, week to week, day to day depending on the Amex algorithm.

You have to ask "Would Dave really approve of me having a charge/credit card to begin with?"

This charge card matches my criteria for the type of card I was looking for.  I am so happy!  I wanted to be able to pay for my travels for work without being dinged because I have lower credit limits on my credit cards.  According to nerdwallet, they stated "when credit bureaus see open accounts with high limits instead of credit limits, they simply don’t include them in their debt utilization ratios, so they have neither a negative nor positive impact on your score." And this hopefully will prove to be my "goto" card.  Unless I still end up getting dinged for having a balance for the month. Please someone clarify how that works. Hopefully, it really is the best of both worlds at least for me.  I heard that several users of the charge card were offered the pay over time offer with this very card so this is promising.   My budget is pretty set so I see no problems with adding in rewards points for purchases.  As for the cap, the faster you pay it off the better you look to AMEX and I am thinking you can call if a transaction goes down hill.   But I will baby this card for the next several years while I save up for down payment on a house. 

As for asking "would Dave really approve of me having a charge/credit card to begin with?"  I have the utmost respect for Dave but I would not ask him or anyone else for his or her approval. 

Thank you!!!

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+1

[-Cal-]

Congrats, If I were in your shoes I would go for a revolver (Everyday or Everyday Preferred) on the same day as your charge card approval. 

[savingmoney87]

Thank you for your post. It really gave me the confidence to apply and I was approved! Finally an Amex Member!

[loyalsudz]

Congratulations!!!

[Existentialist]

Glad we could share in your just approved Amex.... congrats.

[Berk]

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@savingmoney87 wrote:

Thank you for your post. It really gave me the confidence to apply and I was approved! Finally an Amex Member!

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Good for you! Congrats.

[SOGGIE]

Congrats!

[NY2014]

Congrats !!! Keep it up . 

[loyalsudz]

Just got my Amex Plat approved today!  Thanks Lady-in-waiting!