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From: ark@alice.UUCP (Andrew Koenig)
Newsgroups: net.consumers
Subject: Re: Amex card fees
Message-ID: <3950@alice.UUCP>
Date: Tue, 2-Jul-85 11:05:02 EDT
Article-I.D.: alice.3950
Posted: Tue Jul  2 11:05:02 1985
Date-Received: Wed, 3-Jul-85 08:03:32 EDT
References: <489@grkermi.UUCP>
Organization: Bell Labs, Murray Hill
Lines: 32

> Oddly enough, the income requirements for AMEX Gold have actually been
> dropping in recent years (see what I mean about "planned declasse-essence"?);
> the latest application I saw required only $20K/yr (down from $30K in 1980).

I got an AMEX gold card in the early 70's, when my income was about
$15K/year.  Finally got rid of it when I went two straight years
without using it.

Amex advantages:
	1. For every charge, you get a piece of paper with
	   your signature on it that you can verify.
	2. You can get traveler's checks from teller machines
	   located at various major airports.
	3. No fixed credit limit.  I have a friend who bought
	   a car with an Amex card, thus gaining six weeks of
	   float on the money.
	4. Some places take it and nothing else.

Amex disadvantages:
	1. Costs a bunch.
	2. You must pay your balance in full every month.
	   (I normally do anyway, but it would be nice
	   to be able to spread out an unexpected purchase
	   once in a while.  My car just got a new cylinder head....)
	3. A lot of places don't take it.
	4. A lot of places that do take it do so only grudgingly,
	   because they normally charge the merchant much more
	   than MC/VISA.

If I were a free-lance consultant, I would consider it a necessity
because of the degree to which those little pieces of paper would
simplify record-keeping.