Are charge cards worth it in this day and age?

[Khalifa_Jayy]

I figure at least a few people here must use or have used charge cards (think old school AmExes). Is there any real benefit or advantage to using such a card nowadays? It seems like most credit card rewards are very comparable to what you might get on a charge card. Not to mention that you can generally treat your credit card like a charge card (i.e. pay it off in full every month and reap the rewards) but you can't treat your charge card like a credit card (save for special "Pay over time" offers).

Thoughts? Am I missing something?

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AmEx FICO 8: EX [714]

  

[wasCB14]

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@Khalifa_Jayy wrote:

I figure at least a few people here must use or have used charge cards (think old school AmExes). Is there any real benefit or advantage to using such a card nowadays? It seems like most credit card rewards are very comparable to what you might get on a charge card. Not to mention that you can generally treat your credit card like a charge card (i.e. pay it off in full every month and reap the rewards) but you can't treat your charge card like a credit card (save for special "Pay over time" offers).

Thoughts? Am I missing something?

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Most of the people who spend heavily on an Amex charge card value some combination of: travel perks, purchase protection, dispute resolution, and NPSL. Rewards and the ability to carry balances are usually less important.

I'm not really familiar with any non-Amex charge cards.

[UpperNwGuy]

When I canceled my Amex Green Card two years ago, the customer service rep made a big deal about how charge cards were better and more prestigious than credit cards because there was no credit limit.

[Peteyglad]

I love my Amex Platinum, but I have it more for the perks.

[Blackswizz750]

I use mine like a debit card. It works for me and I take offers on it as they come.

[K-in-Boston]

wasCB14 stated it well for me and why I have no intention of getting rid of my Platinum card. Pay Over Time also allows you to carry a balance without it affecting your utilization, which can certainly come in handy at times. I also value the ability to make very large purchases without any fear whatsoever that my charge will be declined.

[Anonymous]

One advantage - utilization.

When I had my PRG charge card anything I put on it was effectively excluded from my utilization. For example, if I put 30% of what you would consider my total credit limit on the charge card, it effectively reported as 0% utilization overall. The balance on the charge card was excluded from the calculation. 

Now, you can accomlish the same thing by paying your balance before the statement date so all this is doing is letting you autopay and ignore the card.

Not sure if that's worth much.

I cancelled my PRG when the AF came due....

[AverageJoesCredit]

Some just get it for a 2 for 1 deal

[Anonymous]

I dont need credit so a charge card is just as effective as a credit card for my needs.  Amex is giving me 700 dollars to use theirs for a year.  I don't see any difference to a credit card as I pay in full.i am certainly not going to pay any interest to anyone.  The charge cards from Amex all have rewards and sign up bonuses.  

If if there is ever an emergency I could borrow from my 401k if my savings couldn't cover it.  

[simplynoir]

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@K-in-Boston wrote:
wasCB14 stated it well for me and why I have no intention of getting rid of my Platinum card. Pay Over Time also allows you to carry a balance without it affecting your utilization, which can certainly come in handy at times. I also value the ability to make very large purchases without any fear whatsoever that my charge will be declined.

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Pretty much this.