Is getting an AmEx Charge Card Worth it?

[WillyBrandt]

Not a credit card, but the original--what does it get you? Is it worth it?

[alittlelark]

1. If it is able to be used at Costco - it will

help bring $$$ to the DNC

[unblock]

2. gave mine up about 15 years ago, haven't missed it once.

the only advantage is the "no preset spending limit", which everyone mistakenly assumes means "no spending limit". in fact, you DO have a spending limit, it's just not "preset". meaning, instead of having a $5,000 or $10,000 credit limit that they tell you about up front, you have a secret credit limit that they don't tell you about until you hit it.

they adjust the credit limit periodically, just like regular credit cards do, but other credit cards tell you the new limit. amex just adjusts it without telling you. not much of a big advantage, more just smoke and mirrors if you ask me.

merchants hate amex because they charge twice as much per transaction.

20 years ago, amex was a life-saver for international travellers. but now, with visa and mastercard accepted worldwide, amex has no advantage there, either.

about the only advantage is that you can easily say "i'm on a business trip" and rack up some major expenses in a short time (provided your charges actually look like a business trip) when such charges would be way past what your personal credit limit would actually be. so i guess that would come in handy, e.g., if your young and don't have a hefty credit limit but do have a ton of business expenses. otherwise i can't see the point.


amex likes to pretend that you'll be looked at like a sophisticated business traveller if you use amex. to me, though, it make it look like you're a business traveller with insufficient personal credit to use personal, no annual fee credit cards.

[northstar]

3. Yes, it's worth it.....it's the 'only one of its kind' right now

and only 'certain people' have it. If you are against the Walmart's of the world, in regard to financial practices.....keep it!!! If many people would do that, it would send far more of a message than hours and hours of posting on forums.

[TreasonousBastard]

4. It gets you...

more detailed billing, some discounts, and some goodies from AmEx travel offices.

MC and Visa have caught up a lot on AmEx's advantages, though, so unless it's for business it's no big deal any more. And cash machines are universal, so the check cashing and traveler's check deals are less useful.

And, you have to pay the whole thing every month, except for a few things they let you pay over time.