divemistressofthedark
Jan 29, 07, 6:24 pm
Hey folks, I got a flier in the mail for a new gold card...when I called for the scoop, it turns out the only difference is that you get 2x points for travel purchases for the first year, and 1.5 points thereafter. Also, there's no fee the first year. Apparently you can rent international cell phones more cheaply too (although I don't need this as I simply buy SIM cards for my Treo overseas). The name of the card is "Rewards Plus," although I'm not sure if one must be invited to qualify for this deal. It's probably worth calling up Amex to find out.
The negatives are that upgrading to this card means you take a minor ding on your credit rating if you close your old one at the same time. I actually called up the Exec Office about this last year...I've had an Amex for a dozen years but my credit report says I've had six or so consecutive accounts with Amex, not one account with a long time frame. I have good credit, so it's not as much of a concern, but still...
I'm going to keep my regular Amex Gold card for the time being, use the new one for travel, and cancel the old one next year when it's time to pay the fee for the new card. At least that way I get one more year out of the old account before they close it because of the upgrade.
The negatives are that upgrading to this card means you take a minor ding on your credit rating if you close your old one at the same time. I actually called up the Exec Office about this last year...I've had an Amex for a dozen years but my credit report says I've had six or so consecutive accounts with Amex, not one account with a long time frame. I have good credit, so it's not as much of a concern, but still...
I'm going to keep my regular Amex Gold card for the time being, use the new one for travel, and cancel the old one next year when it's time to pay the fee for the new card. At least that way I get one more year out of the old account before they close it because of the upgrade.