Is AmEx worth it for a young graduate?

Jake0307

My mate who graduates in September (a year after I did as he took a year out) has a job with Siemens lined up. He'll be on a good wage and intends on getting an American Express card - he claims he's already been accepted.

I was just wondering what experiences users on MSE have had with AmEx and whether they have been able to justify the user costs. Of course, it's up to the user how much they take advantage of the offers. It just seemed to me like a card for those on high incomes (i.e. a bank manager's salary. £50k+ etc), but my mate will be earning low/mid £20k's in a graduate position.

Marchitiello

There are several free Amex cards. For example The basic Blue Charge card and the Platinum Cashback CC.

I took the British Airways Blue Amex whilst still at University, which at the time carried a fee that was waived if the user spent at least £3k pa. I never paid the fee and it is now a free card.

I personally would recommend try to get an Amex as it is a good Credit History builder if used to buy your everyday shopping and paying in full each month before the due date.

Anthorn

Jake0307 wrote: »

My mate who graduates in September (a year after I did as he took a year out) has a job with Siemens lined up. He'll be on a good wage and intends on getting an American Express card - he claims he's already been accepted.

I was just wondering what experiences users on MSE have had with AmEx and whether they have been able to justify the user costs. Of course, it's up to the user how much they take advantage of the offers. It just seemed to me like a card for those on high incomes (i.e. a bank manager's salary. £50k+ etc), but my mate will be earning low/mid £20k's in a graduate position.

There was a time not so very long ago when the eligibility criteria for the iconic green charge card included a minimum £20k annual income but not any more. Certainly my annual income is not £20k and I have one. These days they go more for a prime credit history without even so much of a hint of something not quite right.

Running costs? Sixty quid a year.

Go ahead and apply. They won't shoot you if you don't make it.

Lastly, some people think it's something of a status symbol so it's good to waft around so that people get a brief glimpse of it but no more than that

TheEffect

I graduated last year and have an AMEX Gold... it's free for the first year, and I got 20,000 points for opening the card and spending £2k.

I'll close it before they charge for year 2.

I've had the free BA Amex card as well, got 9k Avios bonus and closed it.

Amex offer some great sign up bonuses.

MallyGirl

I have a free Amex which gives me 0% on purchases for 21 months plus 1% cashback (now I have crossed the appropriate threshold). Not everyone accepts Amex but it is more common than it used to be. I wouldn't have it as my only card for that reason but it fits within a carefully managed portfolio