Decent card for building/ rebuilding credit, but could be better for students
The AMEX Every Day credit card is a decent card for rebuilding credit. However, my experience with AMEX hasn’t always been positive. Oh, customer service representatives have been nice whenever I call, but AMEX is just ok for me as a student. They’ve always given me low credit limits ($500-$1000) whenever I have had their cards. Granted, when I was younger and in college, I made mistakes with credit and at that time had a $1,000 credit limit on a card that no longer exists I believe. Now, I’m in graduate school and they gave me this card with a $500 CL to start. If you get a Graduate Assistantship, AMEX doesn’t consider that as part of your annual income of you are awarded a stipend. Thus, my experience is I believe this card is decent for helping rebuild credit, but with low credit limits, I really can’t take advantage of the bonuses they talk about offering without having to have a high credit utilization rate to get the most out of this card. I use it and try to pay it off in full monthly and hope I will receive a CL increase in the future. However, my experience has been that despite a good credit score, it is just an ok card to have for small purchases or small emergencies due to low credit limit. Furthermore, as stated above, it really is not a good card for students unless you are just starting out credit wise to build/rebuild credit. That’s why overall I believe this card is decent/ok for building/rebuilding credit if you’re just starting out, but it’s not a good card for students who can’t utilize stipend monies from graduate Assistantships as work experience because AMEX doesn’t honor stipend monies as part of your annual income even though stipend monies from graduate assistantship employment is part of one’s annual income that will be reported for tax purposes. Overall, decent credit card, but find out what AMEX truly considers as part of your annual income so you can get the most out of this card.