Are Amex charge cards worth it anymore?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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MrMosby
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Posts: 211
Joined: Thu Mar 15, 2012 10:08 pm
Location: Ohio

Postby MrMosby » Sat Apr 26, 2014 8:21 pm

Thank you for calling Mid-American novelties, this is Gupta how may I help you.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K


thom02099
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Posts: 467
Joined: Sat Apr 13, 2013 7:49 pm
Location: Colorado, USA

Postby thom02099 » Sun Apr 27, 2014 10:21 am

Regarding the original question about an AMEX charge card being worth it, it's very subjective and each person would need to determine what "worth" means to them. To some here, obviously it's not worth it to have one. Others find their own worth in a charge card. I originally got my Zync card as my first (rebuilder) AMEX, since the $25AF was a pittance compared with other AF. That it would backdate to when they could find my earlier records (1991 vs 1976) was an added benefit; I wish they could have found my records back to '76 though! I'll keep my Zync card for as long as I can...because I can. Some don't see the "worth" in it, and that's fine. It's "worth it" to me and that's really all that matters.

The backdating does add to the AAofA, but that in and of itself is not what makes it worthwhile, under a manual review. It's the SCORE that it helps generate that's beneficial. Yes, under a manual review, an underwriter may see that the card(s) don't in fact go back to the MSD. But that doesn't change the SCORE and that's what can make a difference between one mortgage rate and another, higher rate. The details matter to some UW, not so much to others. With everything credit-wise, YMMV.

Regarding the level of service and where a call ends up on initial call in, there's a very simple solution. When calling inbound to a center, if it's unclear where they are located, simply ask "Where are you located?" If their answer is off shore, and you want to speak to a USA based call center, simply ask to be transferred to a stateside call center. Problem solved, as far as speaking with a fellow American. I'm not going to get in to the merits or demerits of reaching a foreign call center. Obviously, this wouldn't necessarily apply to our friends and neighbours in Canada, the UK, and elsewhere here at the forum where we have member/posters.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

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otter
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Postby otter » Sun Apr 27, 2014 9:45 pm

thom02099 wrote: Yes, under a manual review, an underwriter may see that the card(s) don't in fact go back to the MSD. But that doesn't change the SCORE and that's what can make a difference between one mortgage rate and another, higher rate. The details matter to some UW, not so much to others. With everything credit-wise, YMMV.


I'm looking at my credit report @ Amex's CreditSecure. My PRG card which was just opened last month(but is backdated to last year) is showing "OK" for 13 months in two of the three reports. Accounts sometimes show up eroneously under CreditSecure for the first couple of months, but assuming this is correct, would an underwriter really be able to see this as a new account? Of course, I suppose they could always see the Amex hard pull and know that a new Amex account was opened...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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