How to use American Express GOLD Charge Card?
June 4th, 2009 | by admin |
ricky_72749 asked:
Someone referred me to “OPEN Business Network” by American Express, where I wanted to apply for my first business credit card.
The Application was successful, but now in the mail when I got the Gold card, it does not have any ’spending limit’ and it turned out to be a Charge card and if I decide to activate, I have to pay US$125 per year. Amex Rep says that I can use the card for even 10,000 purchase, but I have to pay the FULL amount back within month.
Which means, I cannot pay minimum etc, like traditional credit cards. My question is that how does this kind of charge cards helps small businesses and for what reason one will go for a charge card with no spending limit, but yet so many restrictions.
Any help will be appreciated.
Thanks,
Someone referred me to “OPEN Business Network” by American Express, where I wanted to apply for my first business credit card.
The Application was successful, but now in the mail when I got the Gold card, it does not have any ’spending limit’ and it turned out to be a Charge card and if I decide to activate, I have to pay US$125 per year. Amex Rep says that I can use the card for even 10,000 purchase, but I have to pay the FULL amount back within month.
Which means, I cannot pay minimum etc, like traditional credit cards. My question is that how does this kind of charge cards helps small businesses and for what reason one will go for a charge card with no spending limit, but yet so many restrictions.
Any help will be appreciated.
Thanks,
Ricky
Norma
Tags: American Express, Amex, Business Card, Business Credit Card, Business Network, Charge Card, Charge Cards, Credit Application, Credit Cards, Gold Card, Mail, Ricky, Small Businesses
2 Responses to “How to use American Express GOLD Charge Card?”
By mr_fixit_11 on Jun 6, 2009 | Reply
Zachary
do yourself a big favor, cancel it–there a tons of credit cards out there that have better terms. Be sure and read all the terms of use on one before commiting. Its one of the tricks they use to lure unsuspecting consumers to using a never ending littany of charges. They make it easy to get and doggone hard to get rid of.
By pr_helpdesk on Jun 6, 2009 | Reply
Duane
This is standard practice for American Express. They do offer standard credit cards, but the traditional AmEx green and gold cards do not allow you to carry a balance – you have to pay them off every month. (they mean it, too – one of my old bosses had his AmEx cancelled when he didn’t pay the bill one too many times)
It’s meant for business use, where you’d submit your expense report and be reimbursed in time to pay the bill when it comes. Most businesses pay their expenses on a monthly basis – they don’t charge expenses and pay them off over time.