Amex Gold Rewards Charge Card - pros/cons?

[murphy55d]

Hey guys, I was just wondering if any of you have this card, and what are it's benefits compared to say a normal credit card. Does using a charge card like this help build credit more easily, or anything like that? Some of the benefits I read include free shipping when used at certain online shops, double reward points for using it for gas or my wireless bill, stuff like that.

I was thinking about closing my CitiBank MC account and getting one of these. do you think it is worth it? Also, the acceptance letter I got says my first annual fee will be waived, and after this first year, it will be $90 annual fee. Is that too much, acceptable, or what?

Any thoughts are appreciated.

 

[RossMAN]

Damn they have like 4 different Amex Gold charge cards.

Here is the American Express® Rewards Gold Card.

If I were to pay an $80 annual fee I would expect a lot including BVG (PM'ing against online stores not just local B&M).

 

[murphy55d]

Thanks Ross, was hoping you'd chime in.

As far as I know, american Express' BVG does not include internet prices. For any of their cards.

Per their site:

6 Purchases made as of May 1, 2003 will no longer honor lower price comparisons found on the Internet. We will gladly honor your request for a refund on a savings of $10 or more. Coverage is subject to additional terms, conditions, and exclusions.

Since my first annual fee is waived, do you think it'd be at least worth a try, for the first year? I suppose I can always cancel it if I don't feel it is worth the price.

 

[CrazyDe1]

Originally posted by: murphy55d
Hey guys, I was just wondering if any of you have this card, and what are it's benefits compared to say a normal credit card. Does using a charge card like this help build credit more easily, or anything like that? Some of the benefits I read include free shipping when used at certain online shops, double reward points for using it for gas or my wireless bill, stuff like that.

I was thinking about closing my CitiBank MC account and getting one of these. do you think it is worth it? Also, the acceptance letter I got says my first annual fee will be waived, and after this first year, it will be $90 annual fee. Is that too much, acceptable, or what?

Any thoughts are appreciated.

I have one. I easily save 50-100 bucks a month on shipping charges with their shipping discount. On top of this I'm earning a Southwest Airlines rapid rewards voucher a month.

I like chargecards way better than credit cards as they don't impose limits on you since it must be paid off at the end of the month. There customer service on their open network is also A LOT better than customer service you get through their normal networks. As in almost no hold times.

My only problem with them is they imposed a 25k a month cap on me and when I exceed this I have to call them up to push through charges. This happens once every few days. In order for more increases you have to send them financial statements and I don't have more than 25k in my account ever so they never increase it. They don't care about activity or how much money goes in and out all they care about is that you have enough money to pay whatever ceiling they give you.