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prinsesa
05-04-2010, 01:14 AM
Sooo, what is the difference between a CHARGE card and a regular credit card?
I got approved for American Express' Gold Card, and its apparently a "charge card"
I know it means that the balance must be paid in full every month, however, how will the credit card show up on my credit check?

I just recently fixed my credit, some jerk posted my age incorrectly, and I was apparently 20-30 years older than I am on my credit file FOR THE LONGEST TIME
I wasnt able to get my own shit unless I had a guarantor and all this time, I thought I had bad credit lol
So I really want to be careful now :( I know it was on impulse that I went for AMEX..but anyways, what's done is done -_- So anyone know about credits? :bang
SilentJay
05-04-2010, 07:14 AM
Link (http://tinyurl.com/24yvuyb) :chuckle


Essentially, credit cards allow you to carry a balance, whereas a charge card requires you to pay off the monthly balance entirely, or charge you an outlandish amount of interest to carry a balance over. The card will show up like any other credit card - as either open or outstanding credit.
prinsesa
05-04-2010, 07:41 AM
Link (http://tinyurl.com/24yvuyb) :chuckle


Essentially, credit cards allow you to carry a balance, whereas a charge card requires you to pay off the monthly balance entirely, or charge you an outlandish amount of interest to carry a balance over. The card will show up like any other credit card - as either open or outstanding credit.

lol thanks, just wanted to check if it shows up as a line of credit or credit card :)
Krazy
05-04-2010, 12:03 PM
I worked for AMEX for 8 months :)
Charge card.. you don't really carry a limit in a way... but they do block your card if your spending is out of ordinary.
And YES the balance you owe must be paid every month.

I think it shows up same as credit card in terms of your credit history.
Just be careful not to miss payments because that will damage your credit!
m_bisson
05-04-2010, 12:13 PM
AMEX is crapola. There are so many places that don't accept it, whereas MC or Visa are never turned down.
Krazy
05-04-2010, 12:53 PM
AMEX is crapola. There are so many places that don't accept it, whereas MC or Visa are never turned down.

True. But AMEX offers more services.
It's more exclusive.
They have been improving merchant coverage. I think they were getting Loblaws on board when I worked there.
It's truly better... you get more out of your card.
Impressive
05-04-2010, 12:59 PM
AMEX is crapola. There are so many places that don't accept it, whereas MC or Visa are never turned down.

+1 AMEX might be getting better but VISA and MC run the credit world.
Krazy
05-04-2010, 01:07 PM
+1 AMEX might be getting better but VISA and MC run the credit world.

yeah.. but did u know that AMEX Canada was always profitable.. even during recession this year?
MC n VISA might have the general people covered.
But AMEX has more people who spend high amounts per month incl. small business users.
+ some perks like... Front of the Line for tickets (before general sales) and Summerlicious/Winterlicious pre-booking.
(summerlicious/winterlicious is actually organized by AMEX)
poke65
05-04-2010, 01:20 PM
lol thanks, just wanted to check if it shows up as a line of credit or credit card :)

It will show up as a credit card. I have been working at AMEX for 22 years now so I know ;)
prinsesa
05-04-2010, 01:21 PM
I went for AMEX for the benefits and the status lol
As soon as I get this one, I'm gonna apply for the Holt Renfrew one!!
And thats it, lol..I dont want too many inquiries on my file.
Krazy
05-04-2010, 01:37 PM
It will show up as a credit card. I have been working at AMEX for 22 years now so I know ;)

don't tell me u are the mazda3 owner who parks really close to the entrance every morning.
I think blue mazda 3?
Krazy
05-04-2010, 01:38 PM
I went for AMEX for the benefits and the status lol
As soon as I get this one, I'm gonna apply for the Holt Renfrew one!!
And thats it, lol..I dont want too many inquiries on my file.

I got the blue sky card for the looks hahaha
How many ppl have a clear card :D
poke65
05-04-2010, 01:49 PM
don't tell me u are the mazda3 owner who parks really close to the entrance every morning.
I think blue mazda 3?

Not me I work in the billing department we have been off site for 2 years now.
SilentJay
05-04-2010, 05:07 PM
I went for AMEX for the benefits and the status lol
As soon as I get this one, I'm gonna apply for the Holt Renfrew one!!
And thats it, lol..I dont want too many inquiries on my file.

=/ You may want to hold off on applying for another card immediately after getting one already. Too much credit in rapid succession is usually a good recipe for rating disaster :P
ericssonfan
05-06-2010, 05:35 AM
True. But AMEX offers more services.
It's more exclusive.
They have been improving merchant coverage. I think they were getting Loblaws on board when I worked there.
It's truly better... you get more out of your card.

Everybody uses their PC Mastercard because they get PC points towards free groceries.. Some ppl save a ridiculous amount of points too and walk out with loads of groceries.
SilentJay
05-06-2010, 08:19 AM
^^^^ Not just groceries, but anything the Loblaws family of stores sells. I've redeemd for hundreds of dollars worth of gift cards, an LCD tv, and am currently working on saving up for a PS3.
Burner
05-06-2010, 08:38 AM
I have a no fee MasterCard that gives me an air mile for every $20 I spend on it. I make just about every purchase and pay most of my bills using it, then I pay off the full balance from my bank account when I get the bill. This year I've been averaging 90 air miles per month from the MasterCard alone. My plan was to save up for a free trip, but I think I might just start cashing them in for gift cards and go on a spending spree soon. :chuckle