Verified answer

yes, you do...however it is doubtful they will approve you for a single $40K purchase. Although they give you no "credit limit" they do watch your spending and if you gradually get to $40K, they might ok it...but if you get it and try to charge it ..it will most likely be declined.

There is a difference between the American Express Charge cards (green, gold, Plat) which you must pay off in full every month vs the Amex credit cards which come in different colors with different offers. The 95 dollar savings is probably them waiving the first years annual fee. Check into this, I have an Amex I like a lot, but it is not accepted everywhere so you might want to get a visa or mastercard credit card first.

American Express also offers a number of co-brand and lifestyle Cards, including but not limited to the Delta SkyMiles Credit Card; the Hilton HHonors Platinum Credit Card from American Express; the Starwood Preferred Guest Card from American Express. The co- brand and lifestyle Cards offer some of the core benefits listed above, as well as a variety of special benefits specific to each card.

Cardmembers of American Express can rely on having access to a broad array of rewards and unique experiences as well as world-class customer service. Each product offers a different level of travel, entertainment and lifestyle benefits. Appy online at: http://www.credit-card-gallery.com/American_Expres...

They would love you to make the minimum payment so they can charge a near usury interest rates.

yes

agreed bvg great answer

yeah you do