The conclusion
If you'll use enough benefits to offset the annual charge, the Amex Platinum Card is only worthwhile. The statement credits alone may easily cover the charge, but this card also gives you the opportunity to get better rewards for spending money on trips.
You must get in touch with the merchant at least 15 days before to the subsequent scheduled payment in order to stop recurring debit or credit card payments. You should also preserve a record of the cancellation request. You might be able to challenge the transaction if the merchant does not follow your instructions.
The same security measures apply to credit card transactions made over the phone as they do when done online or in person at a physical location. You should be sure to report any illegal transactions on your account because the Fair Credit Billing Act (FCBA) only allows cardholders to be liable for $50 for any such transactions.
Simply because all of American Express's credit card offers demand exceptional or excellent credit for approval, getting an American Express card is typically more difficult than getting a credit card from many other major issuers.
When you get paid once per month, you can arrange for all of your bills to be paid as soon as you do. You won't need to set aside cash from each paycheck to pay your rent or mortgage, your school loans, or other expenditures as a result. This makes it much simpler to pay your payments.
It is possible for automatic payments to be deducted from your bank account through direct debits and standing orders. They can save you the trouble of paying manually and prevent you from missing a payment.
The additional sum will lower your mortgage's principle, as well as the overall amount of interest you will pay and the number of payments required. You will be able to pay off the remaining loan balance three years sooner with the additional payments.
In this case, making an additional $100 in principal payments each month could reduce the length of your mortgage by over 5 years, saving you more than $25,000 in interest payments. If you can afford to pay $200 more toward the principal each month, you might cut the length of your mortgage by eight years and avoid paying more than $43,000 in interest.
The primary determinant of your credit score is whether you make all of your payments on time. Second, by splitting your payments into many instalments, you are probably paying more than the minimum amount required, which causes your balances to drop quicker. Low credit card balances will lead to a low utilization rate, which is advantageous for your credit score.
Try to have a decent credit score, which is a FICO® Score of 670 or higher, while applying for the Amex Blue Card. Even people with average credit ratings have a good chance of being approved for one of the simpler Membership Rewards cards.
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