Personal Finance

American Express Blue Offers Revolving Credit Terms, Amex Service American Express Blue I am a fan of American Express premium credit cards. I upgraded to Gold ye...

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I am a fan of American Express premium credit cards. I upgraded to Gold years ago and am seriously considering a second upgrade to a Platinum Express Card. There are some times, however, when a consumer chooses to carry a balance longer than a month. They want a credit card, not a charge card.

The difference is that a charge, like the American Express Gold Card or similar offerings, are paid in full each month. A credit card is like the typical MasterCard, Visa or Discover Card. American Express charge cards offer a “Sign and Travel” feature for bigger purchases, but American Express has also introduced the very successful Amex Blue credit card.

The Many Colors of American Express

American Express once maintained a progression similar to the old Genera Motors progression of cars that ended in Cadillac. For American Express, consumers started with a basic green card, then moved up to gold, perhaps settling one day on platinum.

American Express now offers multiple affinity cards associated with different organizations. Hilton, Delta and Costco all have card programs. Amex also branched into Black for the very wealthy, Plum for businesses, Clear and One for rewards and savings programs and multiple Optima cards. In the fragmented world of niche personal finance, American Express has something for every credit score, lifestyle choice and benefits package. Even Blue offers multiple choices, including a Blue credit card for students.

Why Get Amex Blue?

Unlike the charge cards which have a somewhat secret spending limit, American Express’ basic Blue card has an explicit limit and an explicit interest rate. Blue’s big difference is the ability to carry a balance, something I’ve used for big purchases or to flip a balance from one card to here when trying out a new service. Like Gold, American Express Blue is a great rewards card for everyday purchases and even allows additional cards at no extra charge, a charge made by Amex on its other cards.

As with any credit card, limits and rates are based on your personal credit history, although good tenure and payment history with Amex seems to help secure a card with a limit well into the 5 figure limit at a rate around prime. Amex’s basic rewards program is included at this level, as are the basics most Amex members receive, including the online Year End paper statement and a constantly-improving web interface that works well with Quicken, MSN andd Mint.com.

The sporty Blue is managed from the same console where you manage your other Amex accounts. Make sure you understand the limits between higher-end cards and Blue, even if they share the same programs. Basic Blue, for example, also has a Purchase Protection plan up to $50,000, but the deductible is $1000. That is a big difference from Amex Gold, as are the car rental and return programs. American Express’ web site has a solid features comparison section consumers should use to ensure they receive the best value for the programs they want.

Finally, don’t forget that as with multiple accounts issued by other creditors that the payment dates and rewards programs for Blue and another Amex offering can be synchronized and combined.

The Bottom Line, Loose Change and All

American Express Blue is decent credit card for consumers with pretty good credit and is especially good for those who want access to American Express benefits without the big annual fees on Gold or Platinum. If you have prime credit, there are multiple no-fee cards with rates below the prime rate you can use. Those of you with prime credit know that because new card offers undoubtedly arrive in the mail often.

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