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American Express® Gold Card Review
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Written by: markrivers on 2008-02-11

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markrivers's review: Callout Comment Hi guys!

Got a pre approved form from the mail today re this AMEX Gold Preferred card, anybody who has an experience with this?

First yr is free... But then it's 125 annual fee after..

And everything is due upon receipt of the bill.

No pre set limit..

I'm just curious about the no preset limit part... What if I want to buy a a laptop worth 1500-2000 bucks... How sure am I that the transactions will proceed..

I read from the others that this is a dream card? How come?

With the annual fee and stuff?

Enlighten me!

Thanks people!


Comment 1 by hjm331
Another Option User Icon on 2008-02-11

Remarks If your looking for your first AMEX card, go with the Gold Deta Skymiles card. It's a good starter card. I'm only 18 and they gave me a $1000 credit line. I believe that it has a preset limit. It doesn't matter for me though because I pay off my bill in full every month. Hope this helps.
Comment 2 by markrivers
Really Appreciate The Response User Icon on 2008-02-12

Remarks Thanks a lot! =)

don't go spending too much ok?
Comment 3 by meya
Hummm User Icon on 2008-02-12

Remarks I don't know about this one because the annual fee is higher than most subprimed cards I have seen. Like HJm said, go with the delta skymiles or go with the clear blue. I believe clear blue is the best for you to try out.
Comment 4 by hjm331
RE; Meya User Icon on 2008-02-12

Remarks Meya, are you talking about the AMEX Clear or AMEX Blue?
Comment 5 by meya
Clear Blue User Icon on 2008-02-12

Remarks The Amex clear blue. They don't even add fee if you go over your limit or pay late. I don't know how many times in one year but it is a real cool card. This is the one that I want.
Comment 6 by hjm331
RE: Meya User Icon on 2008-02-12

Remarks Meya, there's no clear blue. There's Blue and Clear. Two different cards.
Comment 7 by porgy1000
Annual Fee User Icon on 2008-02-12

Remarks If you ask me an ANNUAL FEE is crazy. I have two American Express cards and I have NO annual fees. Go for one that has NO FEE.
Comment 8 by arod
I Have This Card User Icon on 2008-02-12

Remarks Well its a good card no preset means no preset but if you purchase a expensive Item some time they call the store. Is has membership rewards which is great

it ok if you don't mind paying in full the next month I have this card for 3 years it good but they don't report credit limit to your credit report again its ok card I had to take it out of my wallet because it makes me want to buy everything but when the bill comes I'm not happy paying it all in full. And yes I pay it. Annual fee is free like you said for a year then $125 after that and each additional card member you add is $30 but you save on no interest. Make sure you have at least 4 years dealing with credit cards and no bankruptcy or late payments or you wont get approved,

Good luck to you,

Comment 9 by markrivers
No Way User Icon on 2008-02-12

Remarks I won't go for this card anymore, even though I don't have an AMEX yet. The 125 annual fee is a biggie for me. Thanks for the response guys!
Comment 10 by eric
Dream Card? User Icon on 2008-02-12

Remarks I don't see it as a dream card... But its a nice card... There is 'no-pre set limit'... Dont be fooled by that because you could go out and get that laptop for $1500-2000 and be declined because there is a limit... They know what it is but you don't... If you apply and your approved, when you get the card and call CS they can run a fake transaction through to see if your going to be ok buying $1500-2000 at once-saves the embarrassment.
Comment 11 by hjm331
RE: Mark User Icon on 2008-02-12

Remarks Check out the details to the card I was telling you about.
Comment 12 by hjm331
Sorry, Forgot The Link User Icon on 2008-02-12

Remarks Http://www.Financeglobe.com/Finance/card77.php
Comment 13 by markrivers
I Prefer A Real Credit Card! User Icon on 2008-02-12

Remarks I agree with you..

aside from the potential embarrassment go being declined... The idea of having to pay "all" of it... Including cents come the billing cycle is absurd!

if ever I have that amount of money right away, i'd use a debit card instead.

i checked the American Express Blue..

I don't want to apply yet... Usually I wait for the invitations... Sort of a security blanket on my part, although I know pre-approved doesn't always translate to approval.

thanks again people!
Comment 14 by hjm331
RE: Mark User Icon on 2008-02-12

Remarks Mark, if you want to carry balances over to statements, then AMEX isn't right for you. Purchases under $200 have to be paid in full by the end of the month. I'd suggest going with BofA. They have been nothin' but great to me. If you have the FICO score do it, if not, go with Cap1. I love both of those cards. Hope this helps.
Comment 15 by markrivers
Hjm331 User Icon on 2008-02-12

Remarks Thanks! I have a Bofa Platinum Visa already with a CL of 700... It'sa student credit card with a 18% APR...0% for a yr... The thing is, I'm thinking of purchasing a laptop anytime soon... And as you know... And for everyone's info as well, when u purchase something from VISA and AMEx the 1 yr warranty gets another yr from the card company... So in essence it will save me a lot from buying extended warranty packages =)
Comment 16 by hjm331
RE: Mark User Icon on 2008-02-12

Remarks I have that exact same card. My APR is also in the same range as yours. They also started me off with $700 but then I asked for a CLI 2 months ago for $300 and they apprved it online. So now my CL is $1,000. This is my favorite card because they don't play any games with me. I charge everything I need on this card, pay my bill in full at the end of the month and then report to all 3 CB's pretty fast. Overall, I love this card.
Comment 17 by eric
AMEX Gold User Icon on 2008-02-13

Remarks This card is a HEAD TURNER for sure. Great for dinner and things. My wife has the green rewards. Had it since 99. We use it every few months or so. We never spend more than $100 on this card in a month. I don't like the annual fee either.
Comment 18 by markrivers
It's A Head Turner User Icon on 2008-02-13

Remarks No question about that, I mean the prestige of owning an AMEX card, whether it be the green one or this GOLD..

but I think i'll pass, i'll wait until my income is big enough to cover for the annual fee...$125

imagine what I can buy with that amount..

I don't travel that much either so the miles won't be that helpful..

hey... I'm cheap! Ha ha ha!
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