American Express?

**Nishu** · 12-17-2010, 11:50 AM

I haven't worried too much about my credit over the past ten years. All I have on it is that one credit card that shows up as a real estate loan and 3 student loans. One of those was paid off just yesterday and the other will be smooshed by my snowball around March or April. The only thing negative I have on my credit report is a medical bill that I paid late. It's more than 5 years old so I imagine it won't be on there much longer. My credit score is 670.

So I got it in my head that I really don't want to neglect my credit score because you never know what's going to happen in the future. I don't really plan on using any more credit for things like auto loans or even a mortgage, but this is assuming that everything goes as planned for us in the future.

I wanted my own credit card. The man agreed as long as it was an American Express, since they don't allow you to carry over balances. I applied last night and got an email this morning saying I was approved.

So who takes American Express? Do grocery stores and gas pumps? Those two places take up the bulk of my shopping now that we're paying down our debt so fast.

Is there anything I should know about it before I break it open?

**walker24** · 12-17-2010, 11:56 AM

You could carry a balance on our american express card. I believe it was called Blue. I didn't have any problems with acceptance anywhere.

**Greebo** · 12-17-2010, 11:57 AM

Pretty much everywhere takes Amex.

**Nishu** · 12-17-2010, 11:58 AM

This one is due in full every month. I didn't realize they made cards that allowed you to carry a balance.

**Mom2-3** · 12-17-2010, 11:58 AM

I have an Amex and I love it. I have only found one or two local places that don't take it. Customer service has always been wonderful.

Congrats on paying off that debt yesterday!!!

**Nishu** · 12-17-2010, 12:02 PM

Originally Posted by Mom2-3

I have an Amex and I love it. I have only found one or two local places that don't take it. Customer service has always been wonderful.

Congrats on paying off that debt yesterday!!!

Thanks.

I paid off my first student loan the payday before, then that one yesterday, and next payday our citicard is going. I'm hoping to pay off 20k in debt by the time we move this coming summer. It will ALL be gone in September.

**walker24** · 12-17-2010, 12:06 PM

Whoops, forgot to add congratulations!

**savvy_sniper** · 12-17-2010, 04:36 PM

Some small businesses don't take AMEX because their fees are higher. I am trying to find a small business that takes AMEX and has something I want to buy by the end of the year. I can get a $25 credit on my account!

**McD** · 12-17-2010, 04:45 PM

Our office accepts American Express. Would you like to pay my water bill?

**druthb00** · 12-18-2010, 08:59 AM

Originally Posted by walker24

You could carry a balance on our american express card. I believe it was called Blue. I didn't have any problems with acceptance anywhere.

I have the same card, and it's the same way.

Originally Posted by savvy_sniper

Some small businesses don't take AMEX because their fees are higher. I am trying to find a small business that takes AMEX and has something I want to buy by the end of the year. I can get a $25 credit on my account!

A lot of places down here won't take them because of the fees. There's a big shopping village down by the water called John's Pass, and barely anyone down there will take it. My apartment complex will only accept Visa and Mastercard, won't even take Discover.

Originally Posted by McD

Our office accepts American Express. Would you like to pay my water bill?

Mine too please

I believe my electric company takes it as well...I could use that one paid over my water bill any day LOL

**Judi Dial** · 12-18-2010, 09:36 AM

The higher fees were almost double when I had a store. Visa/MC cost me .035% plus a transaction fee. Amex cost me .035 to them, plus the transaction fee from my cc processor, plus .03% from the processor too. I hated taking Amex for anything < $50, it wasn't worth it.

We've had an Amex card of some sort forever. Until last year we both had cards, for more than 20 years. Last year, as part of the changing rules they decided to limit your balance (on a gold card). Our current balance was paid, I went to rent a car in Boston, I was going to drive home.

The letter with the new fees hadn't been gotten to us yet, and our bill was current, but they would not let me rent a car. Thankfully, we had enough cash available on our debit card that I used that. We cancelled my card almost immediately. I do NOT want to be 100+ miles from home and have a cc company strand me. I only carry one card and the debit card, that's it.

When DH called to complain, they said that we had this new limit, yada yada...he responded that 1) We hadn't gotten the letter yet (the policy change was like 2 days before this occurred) and 2) They'd stranded me potentially (Don't leave home WITH it!) and 3) Our bill was current when I tried to make the charge and 4) We'd been cutomers of theirs for > 20 years. Apparently, none of that mattered.

Now they are the targeted card, we are paying down both the blue card (which we haven't used for years) and it's nearly gone and the gold card. Part of the cost-savings we will do is next year we're going back toa green card, it will save us $40 I think.

When I called their customer service to ask what the difference was between the gold and green cards...the answer was that you get more "points" on the gold card and then the guy said, "It's only $40 a year difference."

Okay, so we have a major attitude difference with Amex. The blue card will be paid off (and closed) in the beginning of 2011. And there's a reminder in place to get the change in for the gold to green card well in advance of when that has to happen next year too.

They're a cc company, like any other. There's good things and bad. The interest they're curently charging us is insane 20%+ and so they're getting paid off.

Judi

**AmyBoz** · 12-18-2010, 01:35 PM

We use our Amex for everything. We get points, which turn into a rebate on our January bill every year, which is perfect, because Christmas shows up on that bill. The only place around here that doesn't take Amex is our pharmacy, so for that, we use a Master Card.

**Libby** · 12-18-2010, 02:07 PM

Im debating on getting one just to use at Costco. Its quicker at the check out and their gas pumps. (Gas is 7cents less/litre here) The store only take Amex, debit or cash - gas pump only takes Amex or debit. I hate using debit b/c each time I do, my card seems to get compromised.

I'm still up in the air about this.

**druthb00** · 12-19-2010, 03:09 PM

Originally Posted by Libby

Im debating on getting one just to use at Costco. Its quicker at the check out and their gas pumps. (Gas is 7cents less/litre here) The store only take Amex, debit or cash - gas pump only takes Amex or debit. I hate using debit b/c each time I do, my card seems to get compromised.

I'm still up in the air about this.

I know a lot of people around here would tell you just to use cash if you're worried about your debit card being compromised (edit, I just re-read this and noticed you can't use cash at the pumps)...but if you get a card with no annual fee, and you can definitely handle having a credit card without using it to overextend yourself...then I say go for it if it saves you .07/gallon. Plus, like someone else said, you earn points and even just using it for gas and groceries you'll end up with a couple rewards per year I would think; $25 gift cards or the like. I use a Chase card to pay my rent & water bill each month, and I'm contemplating throwing my electric on there too. We redeem our points for $25 Applebee's (BF's favorite LOL) giftcards every couple of months. I have a small savings account as well as checking account with 5th 3rd bank, and each payday I transfer 1/4 (since BF get's paid every Friday) of my rent+water bill to the savings account. Then I pay the card using the savings account (online) balance each month. It's been working well for us, though it took me a couple of months of trial and error to get the system down-pat LOL.