AMEX Gold Charge.....

smithers1981

I have wanted (lusted after) an Amex credit card for ages, ive twice been refused for platinum cash back card, i then got invitation to apply for Gold Charge (see earlier post) i was accepted, now I'm not sure it's really an appropriate card for me.

I could probably put £300/£350 a month of normal spending on it but the truth is i rarely travel abroad, don't particularly want the points and certainly don't want to pay the £125 fee for the 2nd year. Also the no limit, or rather the unknown limit on the card also makes me feel uneasy.

Should i cancel the card now or use it for a few months then cancel, i don't want to p.ss AMEX off as i do want either a nectar or platinum credit card in the future.

Would it be worth applying for AMEX credit card now that ive been accepted for a charge card?

Thoughts appreciated:)

Buzby

Different product, and different rules. Net worth is not an issue with the card you have as any spending has to be repaid at the end of each monthly billing period.

The more you use it and repay, the greater the virtual limit. As for it helping a CC application, I don't believe it does.

reclusive46

Its great card for some (Like me) but if I were you, I'd use it until the fee comes next year and then cancel it, you'll probably be approved for the nectar or platinum cashback card as long as you don't miss any payments over the next year.

Savvy_Money

Why would you not want the points? They are not all travel related. I have a gold card and I use regularly for supermarket shopping (Smaller retailers tend to not accept due to high merchant fees) but I impose my own self limit on the card. It's like any card - if you discipline yourself you make it work for you - if you are prone to overspend get rid! Membership Rewards do not expire which is another reason to like AMEX

InsideInsurance

The reward points can be used on a number of things but the value of 1 point varies massively between offers and so it pays to be savvy about what you use them on though in most cases you have a minimum of 0.5p per point

You can transfer them to nectar on a 1:1 basis and so depending on where you shop etc the gold card may earn you more nectar points than the nectar credit card would.

Personally would at least keep until just before the anniversary and then decide if the fee is worth it or not

smithers1981

Thanks for all the advice i am gonna start to use card for all my day to day spending.