otter wrote:Personally, I think the concept of charge cards is a bit antiquated. At one time (1950's and 60's) all cards were charge cards. Now, Amex is the only issuer of charge cards (at least in the US). I think the pay over time feature is sort of a "test" by Amex- I think they are entertaining the idea of converting their green/gold/plat into revolvers. I think at some point, the centurion card (and perhaps the platinum) will be the only charge card left.
You're right, they are a bit of an anachronism; something from the past that maintains a presence in the here and now. The pay over time is the old "sign and travel" that I had on my first card back in the 70s, that old classic Green card. Back in those days ya had to call in to activate that feature and you'd get a separate line item statement on your monthly, mailed statement. For the majority of consumers, I think there's still some sort of mythical quality about the chargers, due to AMEX's incredibly successful marketing over the years.
Do they still have a place for consumers? I think only time will tell, depending on how, and if, the cards evolve to some sort of hybrid type card.
And I agree with Member...would be great to have that internal limit somewhere on one's statement.