I have a green card and have been using it for all my regular debit card stuff about 700 to 900 a month and I am just wondering is there a reason I am paying an annual fee, any really good benefits of using a charge card, I know the rewards program is good and i get double points for almost all of my purchases , so I can earn rewards pretty quick, but are there any other advantages, I basically got it because my GirlFriend's mom get's all of these great hotel offers and stuff in the mail for huge discounts for using her amex, but I am just trying to figure out if there are any other benefits? Does a charge card with "no limit" look good on my credit report? Charging up this much a month look good for utilization? I know if I used my regular blue for this stuff I would carry it month to month buying all the extra stuff I wanted each month(and shouldn't buy) and rack up the interest so, I know why i have it but are there any other good reasons, I am not aware of?
1. Can sign up AU's to acct to report to 3 bureaus. 2. rewards points 3. if account qualifies, you have the option of extended pay and travel pay related charges. 4. nice doorway to other charge cards and revolving accounts with them. 5. prestigious card (classy, not every has AMEX much like ordinary visa/mc/) 4. increase your credit line with amex green by charging more on account than normal to make utilization low. (for example, if you charge 1k every month, then go out one month and buy some merchandise from merchant for 2k, make sure the cycle ends with a balance of 3k, then your high credit balance would be 3k, while your balance every month would be 1k to make a utilization of 33% versus 100%. remember, amex charge card is similar to crap one in NOT reporting credit line, so FICO takes balance/high credit balance=utilization Hope this info helps!
forgot to mention, when you purchase the merchandise of $2k, credit it back to the store soon as the statement closes. For example, I went to walmart and bought some expensive items to get my high credit balance higher than what i usually spend then took the merchandise back and walmart credit the account immediately and it showed up on amex statement in 24 hrs!
I can see any sense in to have a Charge card over a credit card?. I already have credit cards from 5k to 30k, no anual fee any of them. some offers rewards, bal transfer promotions etc. I think they(the charge cards) will disappear in some years.
