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Yes, I know. But there was a time in the not-so-distant past when they primarily issued charge cards, correct?
Platinum card has no limit, like the old American Express. But other American Express cards have limit. In fact they sent me a letter telling me they are reducing the Costco limit and increase the limit on another American Express card.
Yes, I know. But there was a time in the not-so-distant past when they primarily issued charge cards, correct?
They've offered more credit cards than charge cards for some time now
Quote:
Originally Posted by NewbieHere
Platinum card has no limit, like the old American Express. But other American Express cards have limit. In fact they sent me a letter telling me they are reducing the Costco limit and increase the limit on another American Express card.
Platinum cards have limits, the no preset limit isn't no limit
Well, in case other readers were wondering, according to the AMEX website, their Green, Gold and Platinum cards are "charge cards" that are expected to be paid in full each month.
It's true is that they make money if you have a balance, but they charge merchants a small percentage to accept the card.
The service charge from businesses is how Amex makes money from their upper-end cards. The Platinum is expected to be paid-in-full every month, however, they allow you to finance larger purchases if you desire (can individually click on a large purchase within your online statement).
Also, while there is technically no limit to the Platinum, you do have to pre-clear large purchases (again, online).
I get it that you like to tell that to most posters here, judging from your posting history, but until I read the term, that was my assumption. However, I think it does not mean I can use the credit card to buy an expensive private jet, otherwise I'm safe.
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