Credit Tips: American Express One Credit Card

Posted On: August 8, 2006

Author: shan
Posted: Tue Aug 08, 2006 1:50 am
Post subject: Amex One- charge card?

eastbaykitten wrote:
Amex One is a charge card and can’t be made into a credit card. It will get your foot in the door for other Amex products later on though.

I’m confused…from what I have read, a charge card is due in full each month and has no listed APR. My card has all the features of a credit card, except for a set limit. It has an APR, a 30 day grace period, minimum payment amount, etc. Is there something I’m missing?

My agreement does state, “You may extend payment of the new balance(excluding amounts are due in full such as fees, dishonored payments, all purchases posted to your account after ability to extend payment is suspended for any reason). We may change what charges are eligible for extended payment at any time. Any charges not eligible for extended payment or any charges for which you have elected not to extend payment will be due in full…”

Can someone clarify this please? Is this really a charge card in disguise? Does anyone else have this card? I would appreciate your help before I have to call Amex and try to find someone who can explain it.

Author: Board Monitor
Posted: Tue Aug 08, 2006 8:36 am
Post subject: American Express One Cedit Card

Don’t think it is a charge card. The fact that they list an interest rate implies that it isn’t a charge card.
Also, an AmEx charge card will typically have the following late fee:

Varies from state to state, from zero to the greater of $30 or 2.9% of delinquent balance.
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Author: shan
Posted: Tue Aug 08, 2006 1:35 pm
Post subject: American Express One Credit Card

Thanks for helping to clear that up!

Author: eastbaykitten
Posted: Tue Aug 08, 2006 9:27 pm
Post subject: American Express One Credit Card

I applied for this card via phone when I was declined for Costco. It’s a charge product but it has credit characteristics. If you read the fine print on the application: “3 Purchases are approved based on a variety of factors including account history, credit record, and personal resources. ”

I have heard negative responses to this. That people with lower level credit get the One card but are declined for others and have been turned down for purchase at the register and have to call in to maybe get it approved. That’s only what I’ve been told when considering this card from 5+ people. Basically the terms don’t merit except the free initial $50 in your savings that will cover the cost of the annual fee. I have been advised not to carry balances and to not try to treat this like a credit card (reviews etc) but it does get the foot in the door at AMEX. That’s just my opinion. Call AMEX and ask them your questions. They know the ins and outs of this “hybrid” card. To me it was just too funky. I even called back 3 times for clearer descriptions. The bottom line for me was Me: “Amex, can I convert this to blue or any other credit card?” Amex “No. Ms. XXXXX, this is a charge card and cannot be converted to a credit card, however I can run an application for you for another card if you wish?” x4 CSR’s.