Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.1 6/24/83; site alice.UUCP Path: utzoo!watmath!clyde!burl!ulysses!allegra!alice!ark 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.