Devil505 wrote:What's the appeal of AE anyway? Why not just use any Mastercard or Visa & pay them off each month & avoid any membership charges? What's the benefit of AE?
Ahhh. You remember the old Amex the company that wouldn't be in the mess they are now if they stuck with that business model. A few years back Amex starting issue "credit cards" as opposed to "charge cards." Most corporate cards are still charge waht you want and pay with in 30-45 days. I have a corporate card and an Amex "Blue" card which works just like a credit card that can be paid off over time. This is where Amex ran into the credit mess but they were late to the game. They offered lax terms and insane cash back rewards with no annual fees. I pay off my balance in full each month and have never paid a finance charge. However I recieve .5% cash back on all purchases and 1.0% on gas, drugstores, and groceries. In addition after $6,500 in annual purchases you recieve 1.5% for all purchases and 5% for gas, drugstores and groceries. Needless to say I always use my Amex card whenever possible and last year recieved an annual cash back reward of $386! Since I paid $0 in finance charges they essentially paid me $386 to use thier card.
As far as annual fees you can generally call any credit card company and threaten to cancel if they don;t waive the fee. generally they will waive the fee.