Amex Credit Card

[Springbok]

This topic was previously discussed somewhere else, I decided put it here with a few add-ons.

Tips from a friend in the USA (which I am posting again):

1. I would not let anyone know I am emigrating. ESP not the SARB! Just visiting ek sê. Even a one way ticket isn't proof of animus non revertendi for loss permanent resident status purposes. Take out VISITING rand allocation.

2. The bank would probably charge you a fortune (when applying for your offshore allowance.)

2.1 Get an AMEX Blue credit card. NO LIMIT. Place as much of your funds (Rands) in it as you can. They LOVE you to have money in it. USE it anywhere. No official notification. Huge points advantage with very nice rewards. The more you use it, the more points you get - free air miles, e.g., or even dollar cheques we received!

[FYI: Amex Blue card is a see-through card with a chip in the centre.]

2.2 You can walk in a car showroom and buy a US$100k car with it!

2.3 Place minimum funds in AUSSIE bank. You can open other credit cards that give great points for use in Aussie when you get there. BUT USE Them. They probably have a point system as we have here - that requires that you to use credit - to gain a credit history. To have the highest score for credit worthiness purposes - to be charged the lowest interest rate for purchases from houses to TV sets - you need to prove that you have used credit - even if you don't have to - AND keep the credit cards at not more than 80% of credit allowed. SO: If you ever think that you will need credit - car, house e.g. - MAKE DEBT as soon as you get there even if you have oodles of cash handy. The credit bureaux insist on seeing that you have managed your debt wisely over +-2-5 years!

3. Keep SA bank accounts live. Do not close them. Many years later they will ask for residence status. Then close them, if you want.

4. Amex is brilliant in that they phone you if the card has been used in Timbuktu and you are in SA. Even a bit too much that way inclined. When we travelled up to Colorado, we had to fill up in Oklahoma. Card refused. We had to use another one. In the car my wife phoned them. "Oh, so you are travelling? Why didn't you tell us?" The b#tch didn't pass the info on, so the same thing happened in Kansas. Thereafter OK. Moral of the story: You phone them before you travel.

5. The gold card: It is a card you have to pay off every month in toto. ITS limit is the average purchases over the previous 6 months. and fluctuates as you use it. HUGE points advantage. I have enough to fly to Italy right now after use of about a year.

The Blue card: Proper credit card. (Here I am a bit hazy on detail, and will confirm with my wife who does the books.) No limit. I think they decide after 6 months what your limit is. But I think that if you have had say 100k in the account at any time, or paid that sum that's your limit. I think they want you to tell them what you are comfortable with. So if you want a 100k purchase, which is out of the ordinary, you first have to phone them to warn them that you are to do so. (That I know as a fact - because if you don't and it is an out of the ordinary sum, they will refuse it thinking the card is stolen.)

And then from a friend who works at Nedbank Card Division:

Amex Blue Kredit is 'n krediet kaart, en net soos alle ander krediet kaarte word jou limit deur 'n scorecard bepaal. Soos al ons ander produkte word jou spend patterns dopgehou, en elke ses maande (indien jy 'n goeie klient is) word jou limit verhoog. Amex Blue is egter 'n "dooie" produk, wat nie veel werd is nie.

Ek sal eerder Amex Gold voorstel, dit het meer voordele, en hoër limiete, maar die basiese produk is baie dieselfde. Om te kwalifiseer moet jy R120k per jaar verdien, en geen slegte buro data he nie. Die kaart kos R230 per jaar.

Die ander opsie is Amex Gold Charge. Werk op dieselfde manier as 'n krediet kaart behalwe dat daar (teories) geen limit is nie, jy spend en dan moet jy alles aan die einde van die maand terrug betaal (Dus eerder 'n spend tool as 'n kredit tool en gemik op mense wat ryk genoeg is om nie krediet te wil he nie). Daar is wel 'n floor limit, en as jy oor dit spend, gaan die kaart vir authorisation vra, bv. ek het ons reis koste betaal (R15000 was die grootste), no problem maar toe ek R6000 se Woolworth vouchers koop het die transaksie deurgegaan, maar die desk het my so rukkie later gebel en gevra of hulle wel die transaksie kan deursit omdat dit meer riskant is. Jy benodig inkomste van R220k per jaar om te kwalifiseer, en die koste is R595 per jaar. Ingesluit is verniet Membership Rewards (Voyager miles, vouchers, soos Ebucks), verniet gebruik van die concierge desk (jy kan hulle enige-iets vra, restaurant besprekings, reis reelings, selfs om vir jou Robbie Williams kaartjies te kry, of om die beste bunny chow in Durban te vind) en 8 gratis toegang tot die airport lounges in domestic of international halls van plaaslike lughawens.

Dan is daar ook die SAA kaarte. As jy 'n rekening oopmaak kry jy 'n Amex branded en 'n Visa branded kaart, gekoppel aan die selfde rekening. Jy verdien vinniger Voyager myle, maar dit het nie die internationale status van Amex gold nie.

Hope this helps!