Quote:
Originally Posted by matthewk
It's a charge card not a credit card. Don't spend money you don't have. 1 they give you a late fee. 2. to the best of my recollection, they start the interest clock at 29.9% from the day of purchase on all charges on the card that you have not paid. 3. They cancel your card.
I live on my AMEX, don't carry cash as all and bank almost a quarter-million points a year. But again look at it like cash with an awesome points and consumer protection program, just don't spend money you don't have on it..
Oh yeah, it's also my understanding that they are the most rigorous reporting lenders on the planet. If you're late their reporting it to the 3 bureaus.
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wait, so if you charge 100 bucks to the card, then they start the interest right away...so by the end of the month you'll be paying more, even if you pay on time? or does interest start once ur late..?