450 People Helped
Member Since: August 2009
This is my first choice whenever I pay for things because of the cash back, but I don't dare carry a balance through a billing cycle since the interest rate is so high. I recommend this card only to those who pay off their entire balance monthly. Otherwise you could rack up some serious debt in interest charges.
djmartinusen's response was:
Great for earning rewards, the best I have found out there. The interest rate is high, but so are the other cards out there. That's the nature of these post-crisis times. Hopefully, someday we'll have low rates again. I recommend paying off balances monthly so you don't ever pay interest. American Express has never ran a hard credit inquiry when I requested a spending limit increase. Another card I own always does that, which I hate. So that's a plus if you don't want your credit dinged by a hard inquiry that sticks around for two years. Customer service for this card, from my experience, has been excellent, which in this day and age is rare.
The credit card companies are still making money on your purchases, charging vendors when you shop. The more you spend, the more they make. It all adds up.
djmartinusen's reply was:
My wife and I had this card for years. We always paid on time and never missed a single payment. But as a victim of the housing crisis, I had to give up my construction business and my wife also lost her business. Both of us found work, but our income has been reduced so we fell behind on our mortgage. Citi was the only one of our credit cards that reduced our credit limit to a mere $500. I called and explained our situation and reminded them of our perfect record with them, but they could care less.
American Express has been the most reliable credit card of all the companies I have done business with. Many business do not accept American Express, which is frustrating, so I keep another card as a backup. But I have adjusted most of my spending so that the majority of those I do business with are those who do accept them. The main reason I use American Express is their excellent customer service and awesome rewards.