Should I get the American Express charge card?

Question

I hear that AMEX cards are good for some reason. Is it the rewards program? Is a charge card good for my credit score? Is it worth the $150 annual fee. I have excellent credit and just want to know if this would help or hinder my score and if its worth it.

Answer 1

Technically, the Amex card isn't a credit card (like VISA and MasterCard). It's classified a "Travel & Entertainment" card and has very different terms.

Answer 2

It depends on what you are looking for. A charge card is great for building up points. If you have excellent credit, you may want to try the Platinum instead of just the Gold Rewards card. There are several travel benefits that go w/ that card as well as great customer service reps who will assist you w/ anything from getting tickets to a concert to airline.
Call the AMEX customer service center and talk to a rep about what your needs are. They also have revolving credit cards w/ no fee that has free membership rewards w/ less benefit.

Answer 3

I hate AMEX. It isn't accepted at all places and there is no way in hell it is worth $150 annual fee. Visa and MC are excellent and in no way will either of them hinder your FICO score, unless you don't pay them. I would avoid most cards with annual fees except the ones for airline miles.

Answer 4

If you already have excellent credit, it's not necessary to get this card. Besides which, using this card means paying the total amount due each month. Could prove to be expensive at some point. Be wise.....protect yourself.

Answer 5

No you will spend more .

Answer 6

Don't do it!!!!

Answer 7

not worth it all.

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