American Express

[AshleyJordan]

Anyone here use an Amex card? Just curious because I recentally accepted my one year with no fees, but it seems to me like the real "hook" behind it is the supposed status of carrying an American Express card . . .maybe the points? What have your experiences (if any) with Amex been?

[analogman]

I have a Blue from American Express. It's just like another credit card except it's accepted at fewer places (AMEX chargers merchants higher transaction fee than Visa or MasterCard).The only place I use Blue card is at Costco because Costco doesn't take Visa or MasterCard.

There might be some 'prestige' associated with carrying the green, gold, or platinum cards because they have no pre-set spending limit (you can theoretically charge any amount you want as long as AMEX approves the transaction). They all have annual fees though and it can be pretty high. I have been offered the platinum card but wasn't interested in paying the $200 or $300 annual fee.

[pisces2473]

There might be some 'prestige' associated with carrying the green, gold, or platinum cards because they have no pre-set spending limit (you can theoretically charge any amount you want as long as AMEX approves the transaction). They all have annual fees though and it can be pretty high. I have been offered the platinum card but wasn't interested in paying the $200 or $300 annual fee.
What about the black card? LOL

What I don't like about AMEX is that you have to pay off your bill immediately. No carrying over of balances--unless they changed the policy.

[WorkInProgress]

I have an Amex for work...got it through work. I haven't had to use it too much, but I've never had an issue.

[WorkInProgress]

What I don't like about AMEX is that you have to pay off your bill immediately. No carrying over of balances--unless they changed the policy.

Nope, still the policy.

[PenforPrez]

Don't leave home without it! :D

I hope I'm not the only one who remembers that. . . . :rolleyes:

Paul

[weary]

yeah, i don't see the status thing either unless it's the black card. and even then, so what? i think some people may feed into amex's advertising and think they're better than V or MC...but it's all credit.

i had an amex for one of my previous jobs and no problems. but i don't have one, or any credit cards, now.

paul - i remember "don't leave home w/o it!" too. :rolleyes:

[EmberMae]

My parents have amex because the costco amex gives nice cashback bonuses. I don't really get the whole status thing.

[spokes]

i have a personal amex blue card and a corproate card.

i still get the smae general indifference by merchants - oh yeah nd an aside i have written on the back of the card "ask for picture i.d." in the signature box - i get asked for picture i.d. about once every 15 transactions.

the corp card is nice becauseit will get some discounts/corp rates at some hotels etc and no credit limit is helpful when on the road - but otherwise it is not like having an amex card is like having the keys to th enchanted kingdome or something.

[analogman]

What about the black card? LOL

What I don't like about AMEX is that you have to pay off your bill immediately. No carrying over of balances--unless they changed the policy.

I am a few millions away in income from qualifying for a black card :D

I believe the Blue is a credit card (you can carry a balance from month to month). The green/gold/platinum/black cards are charge cards that have to paid in full each month.

One nice thing about the Blue is that the interest is a lot lower than my other cards. My other cards offer better perks though.

[wordsmith]

Anyone here use an Amex card? Just curious because I recentally accepted my one year with no fees, but it seems to me like the real "hook" behind it is the supposed status of carrying an American Express card . . .maybe the points? What have your experiences (if any) with Amex been?

In my experience, it's accepted fewer places than Visa or MC (I know this goes counter to their advertising, but whatev, again, just my individual experience). At my last job, it was our corporate card, so I used it to buy things (mostly after school snacks in bulk) for the tutoring program I ran. This was problematic, because when the boss signed up for it, he didn't realize that the wholesaler I always shopped at only took Visa/MC. To use it to buy snacks, I had to drive halfway across the city of Chicago and out to the burbs to get to a Costco where I could use it.

[CityGal]

AMEX blue is all i have. It works wonders for me. I do carry a balance from month-to-month but when I paid it off I got a a somewhat big finance charge. Not to clear on how paying it off without incurring fees works yet and I was already told once before and I still don't get it. Anyway....I like it. I use it everywhere. Although there are a few places that only take MC and Visa but I think it is a tradeoff with those that only accept AMEX. So....blue is just another card.....from my personal experience although I haven't had another other card but my debit card. Enjoy the year interest free and try to keep it low and payable when the interest starts kicking in. Also, I do agree that AMEX doesn't have cool perks. I have about 10, 000 points and can barely do anything with it. In a way I think the rewards points are kind of useless if you think of the points as actual dollars spent...which I think they are.

[mishl982]

What about the black card? LOL

What I don't like about AMEX is that you have to pay off your bill immediately. No carrying over of balances--unless they changed the policy.
I don't feel like I have a certain status with my Amex. I have a card through my bank and I love the rewards I can get. If I had a black Amex, then yea, I'd feel pretty special.

I don't get charged or anything for carrying a balance. I have yet to pay off the card since I got it and haven't gotten any extra fees or anything for not paying it off.

[AshleyJordan]

Wow. The one I accepted is just the "regular" green one-- which has no limit, pay in full every month, etc. .. . I'm going to see how good the rewards really are for my free year.

[evergreatful]

I use the AMEX Gold. I got it in the summer of 2005 as a promotion with 1 year fee-free and 10,000 points (which translates to $100). I am asuming I got the deal because I had been a Blue holder for so long. Anyway the Gold is good but not necessarily worth the membership fee (I just paid my first one a few months ago which was $150). I do like now having roadside assistance so I was able to cancel AAA and save a few beans each year. And there are some other perks that I probably won't really enjoy until I am older and have time and money to travel.

Bottom line = $150 can be better spent somewhere else. If you like AMEX get the Blue for free.

[Dreamchasa]

I actually got an AMEX through Motley Fool offer and its been great. Can carry a balance for sure. No annual fees which is what I really was happy about. Good Interest rate. No complaints.

[Taza Tikha]

I'm looking for a new credit card and am considering American Express Blue Sky. I'm not sure how it scores in relation to the regular Blue you guys were talking about, but here are the details from the website: no annual fee; 0% APR for six months, then 13-18% APR (depending on credit score, and I think I'd be at the lower end of the APR); travel points redeemable at 7,500 on any airline, hotel, etc and no blackout dates or restrictions--and no expiration dates. I don't know what the credit limit would be for me.

I've never bothered with rewards cards before, because the ones I've seen require 20,000 points for the equivalent of a $200 plane ticket. I never charge $20,000 in a year. And that plane ticket would barely get me out of the state.

I don't mind a high APR because I always pay off my card in full every month. In fact, I use my debit card for daily purchases, and use a credit card only for internet and big ticket items like car repairs. So I'm thinking if I got Blue Sky and used it daily, gas and groceries alone would get me to redeemable land.

Thoughts?

[dacrunkest]

I have an AMEX regular corporate card. I use it to pay for:

a) tests/textbooks for continuing education (insurance designations, masters degree)
b) travel expenses for business purposes (when I am sent on the road for business trips, etc.)
c) ordering police reports.

Every week, I submit expense reports and then have to pay off the card monthly.

[AshleyJordan]

I should add that i did end up getting the amex, and have really liked it a lot-- i'm not sure if i'll renew it next year when the fees kick in, but figure that maybe since i've been such a good customer amex and i can work something out ;)

[analogman]

I should add that i did end up getting the amex, and have really liked it a lot-- i'm not sure if i'll renew it next year when the fees kick in, but figure that maybe since i've been such a good customer amex and i can work something out ;)

In general, you can negotiate annual fees with card issuers. I have gotten my annual fee waived with Chase before (I stopped asking because it's a hassle and I hardly use the card so felt bad about taking money away from them). The fees are pretty high for AMEX so I don't know how willing they would be to waive them. Please report back if/when you decide to negotiate your annual fee with AMEX.

[analogman]

I'm looking for a new credit card and am considering American Express Blue Sky. I'm not sure how it scores in relation to the regular Blue you guys were talking about, but here are the details from the website: no annual fee; 0% APR for six months, then 13-18% APR (depending on credit score, and I think I'd be at the lower end of the APR); travel points redeemable at 7,500 on any airline, hotel, etc and no blackout dates or restrictions--and no expiration dates. I don't know what the credit limit would be for me.

You'd have to charge a lot to get a free plane ticket. Also, generally speaking, the more flexible the redemption (i.e. any airline) the worse the deal (more points required for travel, less points for each dollar spent, etc).

The Blue card entitles card holders to Membership Rewards or cash back. Membership Rewards has some travel rewards but they take a lot of points. I redeem all my points for gift cards which effectively mean I am getting 1% 'cash' back that I can only spend at certain stores.

[redav]

The Blue card entitles card holders to Membership Rewards or cash back. Membership Rewards has some travel rewards but they take a lot of points. I redeem all my points for gift cards which effectively mean I am getting 1% 'cash' back that I can only spend at certain stores.
My blue card (blue cash) does a standard 1% cash back that they credit to my account at the end of each year. I think I get a higher rebate at certain stores (not that I shop at those, though). I don't think I have access to the rewards program (but I have never bothered to pursue it). All-in-all it has been a pretty good deal.

[slimjim]

What about the black card? LOL

What I don't like about AMEX is that you have to pay off your bill immediately. No carrying over of balances--unless they changed the policy.

This is not competely true. I carry an AMEX Gold rewards plus card and it has "sign and travel" and "flex spending". Any charges overseas, at hotels, rental cars, anything travel related, or any charge of $200 or more goes into the flex which can be paid off over time. Now I pay it every month as you should not carry a balance, but it does offer you flexibility. You also have the option to manually transfer any charge that didn't fall automatically into the flex there yourself.

So I pay $150 a year, but that gets me a card for myself and my wife. We charge every expense that we can. I've been a cardholder since 1994 and it has given me a long credit history. With the points I have earned, I have flow the two of us first class to london, 4 other flights economy to london, 2 flights to Colorado, rental car for a week, flight to FL, callaway driver, home theater system and an HD video camera.

For most, i'd just reccomend a green card as the annual expense is much lower, but for me the gold rewards plus card is great.