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From: andrew@inmet.UUCP
Newsgroups: net.taxes
Subject: Re: query: American Express card colors - (nf)
Message-ID: <870@inmet.UUCP>
Date: Fri, 10-Feb-84 00:01:14 EST
Article-I.D.: inmet.870
Posted: Fri Feb 10 00:01:14 1984
Date-Received: Sun, 12-Feb-84 21:46:07 EST
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#R:orca:-52200:inmet:8700006:000:1160
inmet!andrew    Feb  8 11:30:00 1984

The 'Blue' card (they call it 'Green') is not a true credit card because no
credit is actually extended.  You have to pay the balance as soon as the
bill arrives; that's why AMEX is fairly easy for someone with substantial
income but no credit history (i.e., a recent graduate) to obtain.  (I believe
AMEX will let you pay off airline tickets and such over several months.)

AMEX Gold actually does carry a credit line, like a MasterCard or Visa.
It's more expensive ($50 rather that $35) and has considerably higher
salary requirements (around $30K gold, $18K green last I knew).  While there
are some useful features of the Gold card (read their propaganda to see if
they're useful to you), their ads have been mostly promoting it as the
latest status symbol for the pathologically insecure or socially-conscious.
I consider this as prima facie evidence that it is inherently worthless.
 
Andrew W. Rogers, Intermetrics    ...harpo!inmet!andrew
733 Concord Ave.                  ...hplabs!sri-unix!cca!ima!inmet!andrew
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(617) 661-1840                    ...yale-comix!ima!inmet!andrew