Charge Cards vs. Credit Cards

[Tuck831]

Forgive my ignorance, but are there any significant advantages of a charge card when comparing to credit card that would be otherwise paid off in full each month anyway?

Specifically, I may be interested in an American Express Gold Card if it's worth getting over a regular credit card with similar rewards. Of course this would put me in the Amex ecosystem, but I have zero knowledge on charge cards. I understand that charge cards show no utilization, so that essentially helps with scores. 🤷‍♂️

Thanks in advance!

[shalimarcat]

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@Tuck831 wrote:

Forgive my ignorance, but are there any significant advantages of a charge card when comparing to credit card that would be otherwise paid off in full each month anyway?

Specifically, I may be interested in an American Express Gold Card if it's worth getting over a regular credit card with similar rewards. Of course this would put me in the Amex ecosystem, but I have zero knowledge on charge cards. I understand that charge cards show no utilization, so that essentially helps with scores. 🤷‍♂️

Thanks in advance!

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   Hello there. I'm no expert, but I had both the Green and Gold for several years, and really liked it. I liked the discipline of paying in full each month, plus not having a hard limit as it gave me flexibility for larger purchases. I also came to love American Express. They are absolutely my favorite. The Gold is a great card if it fits your lifestyle. You could try it out for a year to see if you like it. 

[Suzette2]

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@Tuck831 wrote:

Forgive my ignorance, but are there any significant advantages of a charge card when comparing to credit card that would be otherwise paid off in full each month anyway?

Specifically, I may be interested in an American Express Gold Card if it's worth getting over a regular credit card with similar rewards. Of course this would put me in the Amex ecosystem, but I have zero knowledge on charge cards. I understand that charge cards show no utilization, so that essentially helps with scores. 🤷‍♂️

Thanks in advance!

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I have both gold and plat business- love them so far since if you have a large purchase it allows you to carry a balance.   
I also have BCP and Delta Plat.  I PIF these every month.  Amex has great service, offers, and rewards. 

[GatorGuy]

Advantages to it being a charge card? No other than you already mentioned it isn't calculated in utilization.

Obviously the cards have some great reward programs but those are irrespective of it being a charge card.

[Anonymous]

One claim is that if you have the financial means, the (real) buying power of a charge card will grow much faster than that of a credit card.   So all those times when you suddenly need to spend $200K, it's going to be easier with a charge card (given time and good finances!) than with a credit card

[OmarGB9]

You pretty much answered your own question. If you PIF anyway, no real difference besides the lack of utilization being reported on charge cards.

[wasCB14]

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@Anonymous wrote:

One claim is that if you have the financial means, the (real) buying power of a charge card will grow much faster than that of a credit card.   So all those times when you suddenly need to spend $200K, it's going to be easier with a charge card (given time and good finances!) than with a credit card

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As an example, I have a lot of CLs in the $20k-$25k ballpark, but can spend at least $100k with my Business Platinum.

[SouthJamaica]

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@Tuck831 wrote:

Forgive my ignorance, but are there any significant advantages of a charge card when comparing to credit card that would be otherwise paid off in full each month anyway?

Specifically, I may be interested in an American Express Gold Card if it's worth getting over a regular credit card with similar rewards. Of course this would put me in the Amex ecosystem, but I have zero knowledge on charge cards. I understand that charge cards show no utilization, so that essentially helps with scores. 🤷‍♂️

Thanks in advance!

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I'm not a fan of Amex charge cards. They have big fees, a constantly changing internal secret credit limit, and expect payment within the billing cycle. I've had the personal Amex gold and the business Amex platinum, and found both to be a waste of money.  Although some people report getting great value from Amex's MR points, for me they are always worth about a penny.

People who do a lot of air travel, and who can figure out how to get a lot of value out of MR's, often find them to be worthwhile.