Does AMEX have a charge card with no annual fee?

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wiivile
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Re: Does AMEX have a charge card with no annual fee?

Postby wiivile » Thu Oct 01, 2015 8:20 am

kdm31091 wrote:There's no charge card without AF, but as mentioned the Everyday revolver has 0 AF and earns MR points.

Is there a reason it has to be a charge card?


So I could theoretically "product change" to a charge card without an annual fee, instead of applying for a new credit card without an annual fee, in order to keep the points if I don't want to spend them within a year.
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Vattené
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Re: Does AMEX have a charge card with no annual fee?

Postby Vattené » Thu Oct 01, 2015 9:10 am

wiivile wrote:So I could theoretically "product change" to a charge card without an annual fee, instead of applying for a new credit card without an annual fee, in order to keep the points if I don't want to spend them within a year.

No, not to a card with no AF. Amex has rules for what cards are allowed to be changed to others, and a hard rule is no going from charge card to credit card or vice versa. You could product change a Platinum to any other charge card, but every charge card has some kind of AF (again, to provide some income to Amex because they're required to be paid in full).

If you're sure you want to get the 100K bonus and if maximizing rewards/total benefit is your biggest priority, get the Platinum and plan on closing it later (assuming you won't get continued use from it). If keeping your credit profile in as good condition as possible is your biggest priority, you'll have to downgrade to another charge card to keep the same account, but pay an annual fee.
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Re: Does AMEX have a charge card with no annual fee?

Postby takeshi » Thu Oct 01, 2015 10:27 am

wiivile wrote:Thanks, so even though I would have to take another hard pull by applying for (rather than downgrading to) the Everyday card, I would not have to spend my MR points within the year that I have the Platinum, because I can transfer my 100,000 Platinum points to the Everyday and maintain the ability to transfer points to airlines?

Vattené wrote:Correct. The EveryDay earns MR just like the Platinum or any other charge card does, and MR on one card are the same as MR on any other card. It's not like Chase where both the Freedom and CSP earn UR, but you have to have the CSP in order to transfer those UR to partners.

MR is also not like UR in that you have one MR account and all cards accrue points in that one account. No transferring required. You just have to have an active MR card at any point in time to avoid losing the points. There are tiers of MR but I don't recall what the differences are off the top of my head.

wiivile wrote:Why would a card with no rewards or benefits have an annual fee? What would be the reason to get a card like that?

It's the least expensive option for one wanting to "park" an AmEx charge card. Probably mostly in cases where the account is old or backdated quite a bit. I.e. one wants to keep the card active for AAoA purposes but pay as little as possible to maintain it.

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Re: Does AMEX have a charge card with no annual fee?

Postby wiivile » Thu Oct 01, 2015 4:25 pm

Vattené wrote:If you're sure you want to get the 100K bonus and if maximizing rewards/total benefit is your biggest priority, get the Platinum and plan on closing it later (assuming you won't get continued use from it). If keeping your credit profile in as good condition as possible is your biggest priority, you'll have to downgrade to another charge card to keep the same account, but pay an annual fee.


I guess the best thing to maintain my credit profile and minimize fees would be to open the card, get the 100K bonus and Global Entry reimbursement, then transfer the 100,000 points to something like BA Avios (which I use all the time, though that's admittedly putting all my eggs in one basket and risking an Avios devaluation), then close the card before a year is up, and maybe even get a prorated fee refund.

However, if it is possible to open up both the Platinum and Everyday (no fee) card at the same time, with one hard pull, then I would do that. Is it possible to open two cards at one time with one hard pull? Though I would still be hurting my AAoA by opening two cards instead of one.
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    Chase Freedom Visa: 11/2009, $4,700 CL
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Re: Does AMEX have a charge card with no annual fee?

Postby CarefulBuilder14 » Thu Oct 01, 2015 9:02 pm

It sounds like your first year with Platinum would be very lucrative.

Just keep in mind that policies can change at any time, and if Amex decides they don't like bonus-hunting AF-dodgers, then getting (or keeping) another Amex card after that could be difficult. Getting 100k MRs, the airfare credit, Global Entry reimbursement, etc...while not even paying a full year's AF or spending much...could possibly be a way to get denied credit (probably just from Amex, but conceivably from other creditors) in the future.
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Re: Does AMEX have a charge card with no annual fee?

Postby Nixon » Fri Oct 02, 2015 10:01 am

If I keep traveling as often as I am these days I may end up keeping the Platinum assuming the $200 Airline incidental credit keeps working for AA GC. I have a Centurion lounge at my home airport. (AC, too as it is an AA Hub)

I already get checked bag from my Aviator, as well as Priority Access from booking awards flights with Avios instead of using my AA miles, which are strictly for long haul or otherwise point prohibitive with Avios (FC awards are 4x point cost as Econ vs 3X for Biz, 2x PEcon)

Using my first 100K MR was a breeze with 82K 1:1 going to BA, 18/6K to Starwood to top off for a 20/25K to AA. :D

Add to that the fact that I was able to book a $500 RT with 15K Avios, (Which shot up to $950 2 weeks before flight). I'd say i'm doing just peachy and could afford to keep it quite easily especially if I keep getting those kinds of redemptions. Before anyone asks, Yes. I would have paid that ($500) for the flight if I had no other way.
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Re: Does AMEX have a charge card with no annual fee?

Postby CarefulBuilder14 » Fri Oct 02, 2015 11:31 am

Also, the ability to PC a card is not some inalienable right of Amex customers, though we sometimes speak of it as if it were. I don't recall many of the specific details, but I've read at least once that someone tried to downgrade a Platinum to Green, but was told there was no such offer available for the account.

In other words, the customer's only options were to close the account or keep the Platinum.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Re: Does AMEX have a charge card with no annual fee?

Postby kdm31091 » Tue Oct 06, 2015 8:38 am

CarefulBuilder14 wrote:Also, the ability to PC a card is not some inalienable right of Amex customers, though we sometimes speak of it as if it were. I don't recall many of the specific details, but I've read at least once that someone tried to downgrade a Platinum to Green, but was told there was no such offer available for the account.

In other words, the customer's only options were to close the account or keep the Platinum.


Exactly.

It just makes me chuckle because so many of the bonus chasers speak as if it's indisputable fact: "got the plat got the bonus will downgrade in a year"...I have stopped bothering to humor them with replies but they will be mighty surprised if Amex tells them they in fact CANNOT downgrade!

If one wants to open cards purely for bonuses, they can have it but they need to be fully aware that there's not always an "easy out" outside of just having to close the account, and doing that repeatedly becomes obvious on your credit report.

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Re: Does AMEX have a charge card with no annual fee?

Postby yfan » Wed Oct 07, 2015 3:04 pm

wiivile wrote:However, if it is possible to open up both the Platinum and Everyday (no fee) card at the same time, with one hard pull, then I would do that. Is it possible to open two cards at one time with one hard pull? Though I would still be hurting my AAoA by opening two cards instead of one.

Is it possible? Yes. Is it guaranteed? No. When you make 2 applications, there are always 2 hard pulls possible on any given report. So while Amex may well do both apps for one pull, no one can definitively say that they will.

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Re: Does AMEX have a charge card with no annual fee?

Postby Nixon » Wed Oct 07, 2015 9:01 pm

kdm31091 wrote:
CarefulBuilder14 wrote:Also, the ability to PC a card is not some inalienable right of Amex customers, though we sometimes speak of it as if it were. I don't recall many of the specific details, but I've read at least once that someone tried to downgrade a Platinum to Green, but was told there was no such offer available for the account.

In other words, the customer's only options were to close the account or keep the Platinum.


Exactly.

It just makes me chuckle because so many of the bonus chasers speak as if it's indisputable fact: "got the plat got the bonus will downgrade in a year"...I have stopped bothering to humor them with replies but they will be mighty surprised if Amex tells them they in fact CANNOT downgrade!

If one wants to open cards purely for bonuses, they can have it but they need to be fully aware that there's not always an "easy out" outside of just having to close the account, and doing that repeatedly becomes obvious on your credit report.


Why aren't you a community "leader" (moron) over there yet? Maybe you just speak too much sense for them... :cool:
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