Q: I have a daughter who graduated in the spring from college and has her first job now. She is looking for her own credit card. She has had her own AMEX for years, but under my account. She has zero debt but has really no credit history, since the AMEX was my account. Will this impact getting card approval? What is the best bet to get a card? She makes $42,000. Would an AMEX card make the most sense or would they have no history on her? What I don't want her to do is keep applying for cards and getting turned down. She really wants a rewards-type card so that she is building toward something like miles, points, etc. B.Z., Cleveland A: It's great that your daughter found a solid job right out of college and wants to start building her own credit history. This is important not just for a future home loan or car loan, but also for insurance and apartment rental purposes. A few things first: One, if she was an authorized user on your account, she may well have … [Read more...] about Things young professionals should consider when getting first credit card: Money Matters
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AmEx Gold Card gets bigger perks, higher fee
NEW YORK – The middle child of American Express’ suite of charge cards, the Gold Card, is getting a major upgrade this fall, but its bigger perks are going to come with a higher fee. It’s the latest move by American Express to keep and grow its card member base in the face of increased competition. But it also refreshes a product that industry experts have said was too expensive for the perks it previously was offering. The Gold Card has, for some time, sat between the sub-$100 annual fee cards like Chase’s Sapphire Preferred, Citi’s ThankYou Premier Card and the superpremium cards like the Platinum Card or Sapphire Reserve, which grant airport lounge access or have big travel credits. Its positioning on the annual fee scale gave the Gold Card little direct competition, and made it popular with those looking for some perks but not looking to spend $500 just for the privilege of using a credit card. AmEx is redirecting the Gold Card at customers who want … [Read more...] about AmEx Gold Card gets bigger perks, higher fee
On the Money: AmEx Gold Card gets bigger perks, higher fee
Wednesday October 10, 2018 01:06 PM On the Money: American Express' middle child, the Gold Card, gets an major upgrade; but bigger perks are come with a higher annual fee Written by By KEN SWEET, AP Business Writer NEW YORK (AP) — The middle child of American Express' suite of charge cards, the Gold Card, is getting a major upgrade this fall, but its bigger perks are going to come with a higher fee. It's the latest move by American Express to keep and grow its card member base in the face of increased competition. But it also refreshes a product that industry experts have said was too expensive for the perks it previously was offering. The Gold Card has, for some time, sat between the sub-$100 annual fee cards like Chase's Sapphire Preferred, Citi's ThankYou Premier Card and the super-premium cards like the Platinum Card or Sapphire Reserve, which grant airport lounge access or have big travel credits. Its positioning on the annual fee scale gave the Gold Card little … [Read more...] about On the Money: AmEx Gold Card gets bigger perks, higher fee
Put away that credit card. You need to use cash more
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Neil Swidey August 15, 2018 AS I PULL INTO A SUNOCO STATION on a recent Friday night, I feel as if I’ve driven right into my childhood. Despite the sign by the pump promising (and delivering) the “Lowest Gas Prices in Town,” it is a full-service station. After the friendly proprietor fills my tank, I hand him two twenties. He reaches into his chest pocket and pulls out a Tony Soprano–style wad of bills, peeling off several singles to hand me my change. No swipes, no chips, no PINs. If he had checked my oil and squeegeed my windshield (and if my two twenties had instead been a ten), I would have sworn I was a preschooler in 1973, sitting behind my dad in his Ford Falcon.The proprietor is Ed Negoshian, and the Sunoco station at the intersection of Route 9 and Elliot Street in Newton has been in his family since the 1950s. He began working there when he … [Read more...] about Put away that credit card. You need to use cash more
Credit cards take steps to perfect targeting programs
NEW YORK (AP)—Credit card companies are taking the next step in using their points programs to influence what millions of customers buy, going as far as influencing what color blender you might purchase. American Express is piloting a program that will allow merchants to reward customers for purchasing specific items at their stores, starting with online merchant Boxed. AmEx is starting small: giving bonus rewards points to Boxed customers who buy Dove soap, Planters nuts, Cheerios cereal and a handful of other items. But AmEx expects to open the program to nearly all their merchants in the coming months. Customers will benefit by expanding the number of ways they can earn points. The program also helps Amex, by giving merchants another reason to keep accepting American Express cards, which tend to be the most expensive for merchants to process. Credit card companies have long been able to reward spending at particular types of merchants, using what are known as merchant codes. … [Read more...] about Credit cards take steps to perfect targeting programs