cancel
Showing results for 
Search instead for 
Did you mean: 

Does Amex gold make sense?

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Frequent Contributor

Does Amex gold make sense?

I currently have a BCP and a JB card with annual fee. I’m thinking about just getting the gold since it basically offsets the fee minus 50 bucks. 

 

I aasume amex gold allows to pay for bags on JetBlue flight or is it only drinks and stuff on the plane itself?

 

either way, what kind of point hit am I looking at if I got the card?

 

Scores are around 760 now and need them to stay there at least 5 months from now

 

3 and a half years AAOA. Newest is 11

 

thanks

Message 1 of 23
22 REPLIES 22
Frequent Contributor

Re: Does Amex gold make sense?


@NYC85 wrote:

I currently have a BCP and a JB card with annual fee. I’m thinking about just getting the gold since it basically offsets the fee minus 50 bucks. 

 

I aasume amex gold allows to pay for bags on JetBlue flight or is it only drinks and stuff on the plane itself?

 

either way, what kind of point hit am I looking at if I got the card?

 

Scores are around 760 now and need them to stay there at least 5 months from now

 

3 and a half years AAOA. Newest is 11

 

thanks


If you already have an Amex card you have a shot at getting the gold with a soft pull, so potentially no hit for the inquiry. Click on the Reccommended Cards linkon the dashboard. Yes, you can use $100 incidental for bags or drinks but you can only select on airline per year.

Message 2 of 23
Frequent Contributor

Re: Does Amex gold make sense?

Thank you

 

That is great to know.

 

i was slightly more concerned with the added account showing and lowering age of credit.

 

I have some thinking to do 

 

I’m slightly wary of the whole charge card thing. I have no problem paying something off in full, it’s just a little scary

Message 3 of 23
Frequent Contributor

Re: Does Amex gold make sense?


@NYC85 wrote:

Thank you

 

That is great to know.

 

i was slightly more concerned with the added account showing and lowering age of credit.

 

I have some thinking to do 

 

I’m slightly wary of the whole charge card thing. I have no problem paying something off in full, it’s just a little scary


The new account will bring the score down due to the fact that it is new, but you could be saved a few points if Amex does a soft pull. 

 

Charge card is a good way to mentally thing about your purchases more.  But they do offer pay over time if you need to move large purchases to a revolver. 

Message 4 of 23
Frequent Contributor

Re: Does Amex gold make sense?

What happens in 5 months?

Are you buying a house then?

If so, I would postpone new charge card.

Might not matter but why take the risk.

Message 5 of 23
Frequent Contributor

Re: Does Amex gold make sense?

Bringing up this old thread because I think now might be the time to make the jump..

 

Or should I wait based on some good offers coming?

 

Right now my offer is 50,000 points.

 

Question though, Is it true that I basically don't need to pay off my balance before my statement hits now with a charge card?

 

What I mean is that I always pay it off before it posts so I show zero balance. With this charge card, I can use it all I want that month, and even if its high when the statement posts, it will show no balance???? 

 

Obviously I know I have to pay it off when I get the bill but do you understand what I am saying?

 

Thanks 

Message 6 of 23
Regular Contributor

Re: Does Amex gold make sense?

From what I understand, since charge cards have no set CL, it will not show on your CR at all besides a new account. It will not show a limit, utilization, amount on the card, etc. However, if you don't pay it off in time, then Amex will tell the CR agencies that you are 30 days late, then 60, then 90, and so on.

 

So, in short, the charge card will never report a balance, because there isn't a balance to report

 

If I'm wrong, please someone correct me!








Message 7 of 23
Frequent Contributor

Re: Does Amex gold make sense?

Yes this is all very confusing to me..

 

Yeah like if i spend $500 and decided " meh I will wait till after I get the bill to pay it off it full " would that show as zero balance on my credit?

 

I never had a charge card, but the Amex gold seems like a great one to have and keep. I usually always pay off everything in full anyway, or I would have other credit cards I can leave balances on if need some more time to pay off

 

Also, I am curious how this works, as you said if you didnt pay it off in full by the due date. Does it automatically say you are 30 days late at that point and it hits your credit. I know it works different than a normal card

 

Hopefully more people chime in 

Message 8 of 23
Frequent Contributor

Re: Does Amex gold make sense?

And can someone please explain long term backdating to me, cause I hear about it and don't know what it is. 

 

Thank you 

Message 9 of 23
Senior Contributor

Re: Does Amex gold make sense?


@NYC85 wrote:

Yes this is all very confusing to me..

 

Yeah like if i spend $500 and decided " meh I will wait till after I get the bill to pay it off it full " would that show as zero balance on my credit?

 

I never had a charge card, but the Amex gold seems like a great one to have and keep. I usually always pay off everything in full anyway, or I would have other credit cards I can leave balances on if need some more time to pay off

 

Also, I am curious how this works, as you said if you didnt pay it off in full by the due date. Does it automatically say you are 30 days late at that point and it hits your credit. I know it works different than a normal card

 

Hopefully more people chime in 


Like a credit card, an AMEX charge card has a monthly statement date and a payment due date.    

If there is a balance on the card, it will be reported on the statement.  That entire reported balance must be PIF by the next payment date, unless you have a charge that was converted to Pay-Over-Time. 

 

The current balance and the highest ever balance are reported, but as there is no fixed credit limit there won't be any listed on your credit report.   

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$800K+ club
Message 10 of 23
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.