unlimited credit

Factual Questions
21

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Philster said:
American Express IS a credit card, but they extend the credit only for 30 days.

What TYPE of credit card is it? It is an “Open” type account, meaning the balance is due immediately or by the end of the month. A collection account is also an “open” account.

You typical Visa and Mastercards are “Revolving” accounts, in which balances and interests roll month to month…revolving around the terms of the agreement, etc…
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In the interest of fighting ignorance, I must remark that Amex has begun issuing genuine credit cards, as opposed to charge cards. I have in my wallet a Blue for Business card that only asks for a $19 monthly minimum payment, or 2% of my revolving balance, whichever is later.
Amex Charge Cards I know of (these are the pay in full type):
American Express Green (different types)
American Express Gold (different types exist)
American Express Platinum
American Express Fidelity Card (tied in with Fidelity brokerage somehow… probably stock back)

Amex Credit Cards I know of (pay in less than full each month, if you so choose):
American Express Blue (tons of different types, pretty card)
American Express Costco Cash Rebate Credit Card
American Express Delta Skymiles Credit Card (several different types)
American Express Hilton HHonors Platinum Card
Starwood Preferred Guest Credit Card from American Express
American Express Golf Card
Optima Card

22

American Express has offered ‘revolving’ account cards, like Optima, and now Blue.

It’s still CREDIT. They flip the bill for you until you pay. THAT IS CREDIT. 30 days is 30days of credit.

They are all credit cards. Their are different types of ‘credit cards’ and the traditional Amex card is a CREDIT Card when you charge something on it.

Even a check is credit for cripes sake.

23

The American Express Green, Gold, and Platinum Cards each offer the Sign & Travel option where the cardholder can elect to pay certain charges–usually the bigger-ticket items related to travel, such as airline tickets and hotel bills–over time.

24

The bank I work for offers a line of “No Pre-Set Spending Limit” cards which theoretically could be unlimited credit but any major purchases have to be manually approved after a credit review.

I’ve seen a 1,000,000. credit line on a personal account before working with our VIP portfolio.