Why are Amex charge cards more "prestigious" than their revolvers??

[kmkotas]

I know it is easier to get approved for a charge card but they are often viewed as more prestigious. Why? Is it because people assume you have money if its paid in full each month? Or because of the high annual fees? Can someone fill me in please? Also, I don't know why they are easy to get. I see them as being a bigger risk since people can't make minimum payments on them and keep charging away.

[enharu]

They are easier to get because people whom get them know they need to pay in full or default. As such most people make it a point to pay this before any other credit bill.

In my opinion it's not anymore prestigious than bcp or other revolvers such as SPG, but if I'm to really think of some reasons it would be:

1. Your ability to PIF means you have a good grasp of your own finances.
2. Because of its AF most people who own a charge card, and isn't a complete idiot, would run at least 30k annually for the lowest tier charge card. The exception is for course for people who has the card for <1 year, since AF is waived.

[TM82]

It's about perception, in the past charge card  meant high spending power but it's a thing of the past with all the newer and in my opinion better credit cards available. 

[kmkotas]

Makes sense I suppose. I don't personally view any card as prestigious except maybe Centurion or Palladium. I do think AmEx should make their platinum card metal though! Lol for that annual fee it needs to be metal

[dodgerslv]

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@kmkotas wrote:
Makes sense I suppose. I don't personally view any card as prestigious except maybe Centurion or Palladium. I do think AmEx should make their platinum card metal though! Lol for that annual fee it needs to be metal

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+1

[NonSufficientFunds]

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@kmkotas wrote:
Makes sense I suppose. I don't personally view any card as prestigious except maybe Centurion or Palladium. I do think AmEx should make their platinum card metal though! Lol for that annual fee it needs to be metal

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I would gladly pay the $450-AF for the Platinum AmEx if it were made of metal. 

A gold EMV chip and gold tipped embossing would make the card irresistable just for it's "Bling-Factor".

Image is Everything

[kmkotas]

Agreed!!! $450 for a plastic card is insane even though its for the benefits.

[theoldnocreditmaster]

They use to be very back in the day when they competed against actual cash , but Mastercard rules. See for yourself.......

http://www.youtube.com/watch?v=V0uFqsI1vy4

[NonSufficientFunds]

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@kmkotas wrote:
Agreed!!! $450 for a plastic card is insane even though its for the benefits.

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I would have to do some mental self-trickery, and rationalize that "it's only $1.23 per day" - I use to spend more than that on cigarettes

[jzon450]

I think it's the annual fees... the benifits with Amex really aren't that great anymore, or not as good as they once were. Visa Signature cards now offer a lot of the same perks.