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Amex Gold Question

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Super Contributor

Re: Amex Gold Question


@RealityBites wrote:

@campy wrote:

So it would be due after the first statement it doesn’t fall into the pay over time does it? 


Fees don't fall into pay over time (which you may not have at first anyway. I didn't get it for 10 months!) They also don't count as spending to your sign-up bonus.

 

My Platinum Card was activated March 16th. Statement closed April 15th and payment (including the annual fee) was due May 10th.

 

Fair warning - if you need to pay charges of a few hundred dollars over time, this is not the card for you. 


Ditto!

My response was going to be similar to this. 

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 11 of 20
Established Contributor

Re: Amex Gold Question

If your unsure about Paying in full why not consider 1 of Amex credit cards such as Delta blue or Gold. Then when your comfortable and feel u can handle a charge card then go for it.
Message 12 of 20
Contributor

Re: Amex Gold Question

+1

At least they add AF at the end of statemend unlike Chase though. I was surprise CSP put $95 right after you got done set up your account (at lease mine). It did bother me everytime I see $95 when I didn't use it yet. Like don't remind me, I know it come with AF kinda feeling you know 

Current status: Gardening as of 5/2019 Projected: TBD

Message 13 of 20
Valued Member

Re: Amex Gold Question

I pay in full on all my cards the PIF every month is not my issue it’s making sure I have a spare $250 in a month to pay the AF on top of my regular spend. I have plenty of revolving cards and carry little to no balance what’s so ever so that is not the issue, $250 is not a chump change to me and I just wanna be prepared that is all.
Starting Score: 580
Current Score: 640
Goal Score: 750


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Message 14 of 20
Established Contributor

Re: Amex Gold Question


  • @campy wrote:
    I pay in full on all my cards the PIF every month is not my issue it’s making sure I have a spare $250 in a month to pay the AF on top of my regular spend. I have plenty of revolving cards and carry little to no balance what’s so ever so that is not the issue, $250 is not a chump change to me and I just wanna be prepared that is all.

 

I don't want to sound mean, but if $250 isn't chump change to you, maybe you should reconsider. To get the value out of this card you need to have a fairly high spend for the rewards to give you back more than the value of the annual fee.

 

 

 





Message 15 of 20
Valued Member

Re: Amex Gold Question

I have high spend over 6 figure income but I don’t see $50 as chump change let alone $250. Have nice things we pay for and multiple properties (regular, rental, commercial) I appreciate all the negative feedback though thanks. I just hold myself different then others I guess but again thank you to all. Hooah!
Starting Score: 580
Current Score: 640
Goal Score: 750


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Message 16 of 20
Valued Contributor

Re: Amex Gold Question

To play devil's advocate, I don't think $250 is chump change to most people. Money is Money no matter the amount and has value. Sure to some it may not be as significant to othersin the scheme of things.

 

That said, if you're the high spender you claim to be. Then the $250 can be justified, as it would be offset by your spend as well as the many credits offered. If you're able to use it, the $120 dining credit knock that in half. Then there's the $100 Airline credit if you fly, as well as teh $100 Hotel Credit. There are plenty of chances to get that Money back in some form, if you're proactive about it.

 

However, if a person's first worry is affording/justifying the AF. That person should put some serious thought into whether a Charge is right for them or not. The AF is something you know is coming and can plan for though.






Message 17 of 20
Valued Member

Re: Amex Gold Question


@campy wrote:

Hoping to get the Amex gold card soon, scores are getting close (I’m at 690 Experian) and my question is the AF due by the first 30 days? I know it’s a charge card and they have to be PIF by statement just wondering if the same goes for the AF. Never had a charge card before. 


My brother got the Amex gold with a low credit score maybe 560-620 ... but he received a pre approval offer in the mail. i technically use it tho ... I just checked all the statements from when he got it until now.. it’s almost 1 year. I think it’s been 10-11 months. No annual fee has ever been charged yet. He still doesn’t have Pay over time. The account is used a lot heavily every month and paid in full. But still haven’t been offered POT ... it might have to do with his credit score but I have no idea they’re confusing ... they pick and choose what to approve or deny ... your spending power is different every month. But don’t be scared to apply for it ... he got it with a low score ... high utilization... collection... 690 u should be good ... from my experience, annual fee wasn’t charged up front. Spend $2000 get the 50k points and use it for restaurants... grocery ... and whatever else gives bonus. I get about 10k points a month ... when we go out to dinner I’ll swipe the whole thing and just have everyone send me money so I can get the 4x ... you’ll get the annual fee back ... I have almost 100k points ... woulda had more but did a stupid thing of using 50k to pay charges which has a really bad value. 50k points should be $500 ... only got like $300 out of that

Message 18 of 20
Established Contributor

Re: Amex Gold Question


@Janus wrote:

To play devil's advocate, I don't think $250 is chump change to most people. Money is Money no matter the amount and has value. Sure to some it may not be as significant to othersin the scheme of things.

 

I don't consider $250 chump change either. But considering it's a fee on a charge card, where it would normally be dwarfed by the actual spending, if you're concerned about when you'll have to pay it and want to know if you can pay it over time, a charge card with an annual fee might not be a good option - especially if the SUB requires a couple of thousand dollar spend in three months.





Message 19 of 20
Established Contributor

Re: Amex Gold Question


@JHernandez wrote:

@campy wrote:

Hoping to get the Amex gold card soon, scores are getting close (I’m at 690 Experian) and my question is the AF due by the first 30 days? I know it’s a charge card and they have to be PIF by statement just wondering if the same goes for the AF. Never had a charge card before. 


My brother got the Amex gold with a low credit score maybe 560-620 ... but he received a pre approval offer in the mail. i technically use it tho ... I just checked all the statements from when he got it until now.. it’s almost 1 year. I think it’s been 10-11 months. No annual fee has ever been charged yet.

 

The offer till last fall was no annual fee for the first year. 





Message 20 of 20
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