Thread: Should I get a charge or credit?

Hey guys. I currently have a Candian Air Miles American express credit card and was looking to upgrade. The only 2 cards I was looking at were the platinum Air Miles credit card and the gold charge card...
My main question is about what advantage(s) a charge card has over a credit card. Why are they more prestigious and sought after as compared with Amex's credit card line up...


Thanks!

The only real advantage (besides a different reward structure) is that the Gold (and Green and Platinum) have no APR because you have to pay them in full each month.

In terms of status....mostly it is just a classic symbol of accomplishment. It is a very handsome card and a lot of people assume that you have really made it if you can carry a Gold Amex card. Truth is, almost anybody can get one these days-at least in the US.

It comes down to annual fees and rewards. The Platinum Air Miles card has an annual fee of only C$65 whereas the Gold is at C$150. Miles or points? Points or miles? Technically you could exchange MR points for airline tickets so it is really a toss as to what you would want. I would personally stick to the Gold Air Miles card as it does not have an annual fee. I am allergic to annual fees.

well Lith-eelaqa, the reason they are more prestigious is because more presidents of companies, vice presidents, salesman, and business travelers have these cards. If you remember the late 80's department stores like Abraham and Strauss, Lord & Taylor only took their card and American Express while stores like Caldors and Gap took Visa and Mastercard.

so if a warehouse employee went to Lord & Taylor and wanted to purchase some thing for 35.00 as an example, if he didn't have an American Express card, he would then have to pay cash or check. but if a salesman needed a new suit and wanted to go to either department store he would have had the card so he would be able to shop there.

nowadays when looking at the blue cash card, clear card, blue I see people using these cards shopping at malls. not at all business oriented. with the premium card a lot of people use this card for business.

I'm not saying nobody uses it for personal use, they do. I have the green card and I don't travel on business. But a lot of people use the premium card for business. that's why it's prestigious.

On the Canadian site it says that the first year of the American Express gold card's annual fee is waived (160). My question is to current gold card members. Have you tried negotiating that down to free after the first year... If not, can anyone shed light on whether amex does indeed waive these fees or are they extremely difficult to get rid of?

Thanks

Originally Posted by JohnB222

Based on everything out there, Amex has NEVER waived an annual fee EVER...however for good customer they have been known to provide statement credits to keep your business...

+1 the annual fee is non negotiable. As John said, they will from time to time provide a statement credit which can offset the annual fee.

Hey lith_eelaqa,

You only need to answer how do you want pay your card, carrying balance every month or paying full every month, that easy.

There are no prestigious about carrying any particular card. You should apply for the card you need based on your requirements. If you travel A LOT, probably you might go with the Platinum; if you like to get some money back you can go with any of the cashback ones, etc.

Originally Posted by lith_eelaqa

On the Canadian site it says that the first year of the American Express gold card's annual fee is waived (160). My question is to current gold card members. Have you tried negotiating that down to free after the first year... If not, can anyone shed light on whether amex does indeed waive these fees or are they extremely difficult to get rid of?

Thanks

I'm not a gold card member. I'm a green card member I tried to talk to a account mgr and asked if she could waive the annual fee. I explained to her that the green card hasn't gotten any good reviews, it's just the green not the gold, but the account mgr. said they can't waove the annual fee. But I did ask on the green. I did try..