Mar 21 2008
One from Amex
 
My very first credit card-Gold Card From BOA- is about to expire next month. It was the most pointless card I ever got: I had to pay to receive the card and it had no rewards plan. Oh well at that time I had no credit, so that’s probably the only card I could have gotten. Because it’s expiring I want to get another card to replace it. There were two things that I considered when looking for a card: Rewards and spending limit.
 Right now, I’m using my debit card to pay for my affiliate marketing, because my limit isn’t high enough on my card cards. That becomes a big hassle: I get quite a few charges a month and have to deposit money every few days. To solve this problem, I looked for a card that has very flexible credit. Luckily, American Express has charge cards, which don’t have a preset spending limit, but you usually have to pay it off within one month; otherwise, they charge pretty high APR rates. Now to solve the second part of my problem-need rewards- I looked into the “ONE” charge card. Not only does this card have a no preset limit, but for every dollar you spend you get 1% of it put into a high-yield savings account! This is freaking awesome, because the AMEX savings account has a higher yield than my emigrant direct savings account. Basically, I can spend a lot of money and earn 1% for each dollar. Needless to say, I got this card.
 I was thinking about taking out some money from this card, maybe 10k, and putting it into a savings account for one month. I won’t be able to qualify for that 1% of purchases, but I think I can make more than the fee for takeing the money out. So if this works, AMEX is paying me to have this card; how sweet is that? Other thing I though of is buying a new car with this card. If I spend 20k I’ll get 200 dollars off, not a bad deal at all.
 Yeah.
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