My first credit refusal in years...

[CountDeMoney]

It's all bullshit.

[katmai]

Heh went to get a new car. No dice as since I work contract/1099 jobs and no credit history for last 20 years no loan for me. Just have to go buy car in cash.

[Grey Fox]

I have never been denied credit. Once American Express gave me 8k$ has a limit while I was unemployed.

[Admiral Yi]

I thought the deal with Amex is you have to pay off the balance at the end of the month.

[garbon]

I thought the deal with Amex is you have to pay off the balance at the end of the month.

You can carry a balance.

[Admiral Yi]

 

OK.

[garbon]

I just thought the main thing about AmEx is that you have to pay a fee every year.

[katmai]

I thought the deal with Amex is you have to pay off the balance at the end of the month.

You can carry a balance.

depends on the card from them.

[garbon]

I thought the deal with Amex is you have to pay off the balance at the end of the month.

You can carry a balance.

depends on the card from them.

Ah, gotcha.

[garbon]

Though again, I never would.

[katmai]

My regular Amex has no yearly fee and doesn't need to be paid off every month, yet my
Bussiness card has both the fee and must be paid off. Don't ask me how that works.

[MadBurgerMaker]

Heh went to get a new car. No dice as since I work contract/1099 jobs and no credit history for last 20 years no loan for me. Just have to go buy car in cash.

That blows.  On the other hand: No car payments.

[viper37]

I just thought the main thing about AmEx is that you have to pay a fee every year.

there's no real difference between AmEx and other credit cards now.  They have various type of cards, some still unlimited, I suppose, but most of them have a limit and an interest rate similar to other cards.  Some have yearly fees, some are free, depends on what they offer.

[viper37]

My regular Amex has no yearly fee and doesn't need to be paid off every month, yet my
Bussiness card has both the fee and must be paid off. Don't ask me how that works.

well, I tried to increase my corporate card limit from 5000$ to 10 000$ and I was told it was impossible.  Both this and my personal master card are from Bank of Montreal.  I hang up, I call customer service for my card, got it increased from 10k to 15k$ in 2 minutes.

These guys are weird.

[Caliga]

OK.

AMEX used to be that way (i.e. you had to pay off your balance monthly), yeah, but they changed.  I would guess they changed due to market pressure from debt-loving fools.