I've never had one because I refuse to pay the annual fee. I pay off a Visa/MC every month, no fee, no interest (Okay, i've recently broke that rule, but there was a certain plan for the debt - it's currently being moved to a zero interest card -- okay, and that maybe a bit of a fuzzy tiger*).
If you haven't used it in 5 years, it's only adding so much to your credit rating. Using and and paying it off on a regular basis tends to build the rating faster.
Of course, you have to take into account your spending habits and if the best way to control spending is to have the Amex, then it's probably the way to go.
*I need to post to this community the crazy but effeceint way I dug my way out of debt and bought a house. A method probably not recommended by any reputable credit counselor.
Comments 13
I've never had one because I refuse to pay the annual fee. I pay off a Visa/MC every month, no fee, no interest (Okay, i've recently broke that rule, but there was a certain plan for the debt - it's currently being moved to a zero interest card -- okay, and that maybe a bit of a fuzzy tiger*).
If you haven't used it in 5 years, it's only adding so much to your credit rating. Using and and paying it off on a regular basis tends to build the rating faster.
Of course, you have to take into account your spending habits and if the best way to control spending is to have the Amex, then it's probably the way to go.
*I need to post to this community the crazy but effeceint way I dug my way out of debt and bought a house. A method probably not recommended by any reputable credit counselor.
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