From te recent GQ thread about AmEx, I began to wonder…why on Earth would anybody want one? As I understand it, a normal (i.e., not the Blue or Optima) card requires that you pay it off in full at the end of every month. In addition, there is a yearly fee. How is this in any way a good thing? The only way i can see it being good is that it forces one to pay everything off and therefore not go into debt. But why not just get a debit card, then? I mean, all AmEx is is a debit crd that you pay off later, not now. Yeah, there certainly could be a situation where I will have the money then but not now, so an AmEx might be handty, but for those purposes why not jsut have a Visa or MC and vow only to use it in those circumstances, and then pay it off in full as if it were an AmEx? I realzie that the temptation woudl be there to use it more/let it rollover, but honestly, it’s not like it’s that hard a thing to do.
So are there any benefits to havign an AmEx card that I don’t know about? Will they give me a foot massage every month? Can I get home-delivered hookers? Fill me in!