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A comment on Apple Working with American Express on iPhone 6 Mobile Payments. Parent comment

Re:Apple Working with American Express on iPhone 6 Mobile Pa... by superuser2 on Sunday August 31, 2014 @02:40PM (#8249992)
They do a particularly weird instrument called a "charge card." It's not a debit card because it's not pulling straight from a checking account, but there's no long-term line of credit either. It's like a credit card that you're actually required to pay in full every month. So no different from responsible credit card use, but still not credit.
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Re:Apple Working with American Express on iPhone 6 Mobile Pa... by meepmorp on Sunday August 31, 2014 @03:18PM (#8250118)
> They do a particularly weird instrument called a "charge card."

It should be noted that they also offer regular credit cards, in addition to the charge card, and these do not require payment in full at the end of the bill cycle.

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Re:Apple Working with American Express on iPhone 6 Mobile Pa... by mpclark on Sunday August 31, 2014 @08:15PM (#8250977)
And prepaid cards too, iirc, through Walmart.

Edit: ignore me, I see somebody else has already mentioned this further down...

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Re:Apple Working with American Express on iPhone 6 Mobile Pa... by toomuchtodo on Sunday August 31, 2014 @03:11PM (#8250095)
The benefit of the charge card (Disclaimer: I have an Amex charge card) is that you can have an extremely large line of credit for those 21-30 days. It's less for balancing your finances and more for spend management (they have great tools to see where all of the money is going, very nice management for multiple family/corp cards, etc).

I'd still trade the charge card for their Costco version.

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Re:Apple Working with American Express on iPhone 6 Mobile Pa... by tetrep on Sunday August 31, 2014 @03:14PM (#8250105)
it's credit if you don't pay it immediately. the lending institution is extending you a line of credit for one month.
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Re:Apple Working with American Express on iPhone 6 Mobile Pa... by superuser2 on Sunday August 31, 2014 @04:17PM (#8250252)
True, but AFAK with Amex there is no "lending institution." You get the card from American Express itself and it does not involve a relationship with a bank.
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