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The Best Charge Cards & Former Charge Cards: For Travelers, Foodies, and Business Owners

By Brendan Harkness
Updated Jun 22, 2021 | Published Jun 13, 2019 • 8 min read

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At a glance

Several of the best rewards “credit cards” used to be charge cards that had to be paid off every month, but now they’re more like typical credit cards. Explore your options, and pick a card with rewards and benefits that complement your lifestyle.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

Charge cards are a type of credit card that usually must be paid in full each billing period — you can’t always revolve a balance from month to month.

That’s the most important difference between charge cards and other credit cards, but they also come with no preset spending limit. This means the max amount you can spend will change over time, but it doesn’t mean you can spend as much as you want.

Best For Card
Premium Travel Rewards The Platinum Card® from American Express (Review)
Dining and Groceries American Express® Gold Card (Review)
Low Annual Fee American Express® Green Card (Review)
Premium Business Travel Rewards The Business Platinum Card® from American Express (Review)
Flexible Business Bonus Categories American Express® Business Gold Card (Review)
Insider tip

All of the Platinum and Gold cards below — both personal and business — are made of metal, giving them an impressive and sturdy presentation. Metal cards aren’t really any different from plastic cards, except for the flex value of course.

Best Former Charge Cards

American Express is currently the only major issuer to provide something like charge cards, but you don’t necessarily have to pay your balance in full each month. Instead, eligible charges can be included in a Pay Over Time balance, up to the Pay Over Time Limit. Eligible charges include purchases, foreign transaction fees, and annual membership fees.

Certain transactions are ineligible for Pay Over Time: cash advances, including cash and other cash equivalents, certain insurance premiums, and any other fees owed to American Express. The Pay Over Time Limit applies to the total of the Pay Over Time, cash advance, and Plan balances.

All charges not added to a Pay Over Time balance, monthly payment plan, or cash advance balance must be paid in full each month by the payment due date.

We don’t recommend using the Pay Over Time feature, because we never advise carrying a balance unless you have a 0% interest rate. Instead, pay your statement balance in full each month to avoid interest and help maintain good credit scores.

Best for Premium Travel Rewards

The Platinum Card® from American Express

Our rating:
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The Platinum Card® from American Express
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  • Min. credit levelGood
  • Annual Fee$695
  • Regular APRSee Pay Over Time APR

Rates & Fees

American Express is a Credit Card Insider advertiser.

Few cards can match The Platinum Card® from American Express (Review). It’s not just the high-end card of the whole bunch, it’s also one of the premier luxury travel cards.

The Platinum card is much-loved for its Global Lounge Collection, providing more comprehensive airport lounge access than any other credit card (except the business version of this card). That includes the popular Priority Pass lounges, which are available with many credit cards, along with several others including Amex’s own Centurion Lounges. Take note that the Priority Pass Select membership available through this and other Amex cards excludes non-lounge experiences, like restaurants.

Cardholders also get travel and shopping credits to help offset the high annual fee, and elite hotel statuses (also best-in-class) to help save money, live more comfortably, and earn tons of extra points at hotels.

Rewards

Spending Rewards
  • 5X Membership Rewards points per dollar (on up to $500,000 spent per calendar year, then 1X) on:
    • Flights booked directly through airlines or through American Express Travel
    • Prepaid hotels booked through American Express Travel
  • 2X Membership Rewards points per dollar on other eligible travel expenses booked through American Express Travel
  • 1X Membership Rewards point per dollar on all other purchases
Introductory Bonus
  • 100,000 bonus points for spending $6,000 in the first 6 months; 10X points on eligible purchases at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during the first 6 months

To earn a lot of points with this card you’ll need to book your trips through American Express Travel or purchase flights directly from airlines. If you can’t do that, you should consider a travel card with broader travel categories (but you might want this card for the benefits too).

Membership Rewards points are only worth up to 1 cent each through the basic redemption options, so we recommend you always wait to use them for a valuable point transfer. Point transfers could provide 2 cents per point or even more, giving you a cash back equivalent of 10% for the 5X categories, much better than most travel cards (but again, only for those limited categories).

Key Features

  • Global Lounge Collection: Enroll for complimentary access to Priority Pass, Centurion, American Express International, Delta Sky Club, Escape, Airspace, Lufthansa, and Plaza Premium Lounges.
  • Up to $200 in annual Uber Cash: Add your Platinum card to the Uber App to get up to $15 in Uber Cash per month, plus a bonus $20 in December; U.S. Eats orders and rides only.
  • $200 hotel credit: Get up to $200 in statement credits each year for prepaid hotels booked through The Hotel Collection and Fine Hotels & Resorts; must pay with the Platinum card.
  • $300 Equinox credit: Pay with your Platinum card to get up to $300 in statement credits annually with Equinox (up to $25 per month), for Equinox All Access, Destination, E by Equinox, or Equinox+ membership fees.
  • $240 digital entertainment credit: Pay with your Platinum card to get up to $240 in statement credits annually for digital entertainment (up to $20 per month), only for eligible purchases from Peacock, Audible, SiriusXM, and The New York Times.
  • CLEAR credit: Up to $179 in statement credits annually for CLEAR biometric security, enough for a membership.
  • Uber Eats Pass: Get unlimited $0 delivery fees and 5% off orders at eligible restaurants for 12 months; must enroll by 12/31/21. Taxes and service fees may apply and do not count toward the order minimum. Eats Pass will start auto-billing 12 months from enrollment, at then-current monthly rate. Learn more.
  • Uber VIP status: Add your Platinum card to the Uber App to get Uber VIP status where available.
  • Global Entry or TSA PreCheck application fee credit: A statement credit for the application fee of either Global Entry ($100 every four years) or TSA PreCheck ($85 once every four and a half years)
  • Complimentary elite hotel statuses: Hilton Honors Gold status and Marriott Bonvoy Gold Elite status
  • The Hotel Collection: A $100 hotel credit and room upgrades when available for every eligible two-night stay
  • Fine Hotels & Resorts Program: Daily breakfast for two, room upgrades when available, amenities valued at $100, and more at eligible properties
  • $100 annual Saks credit: Up to $100 in statement credits each year for Saks Fifth Avenue: $50 from January through June, and $50 from July through December
  • Global Dining Access by Resy: Resy provides access to exclusive reservations and dining experiences.
  • Point transfer: To a selection of airline and hotel loyalty programs
  • Shopping and travel protections: Purchase Protection; Extended Warranty; Return Protection; Baggage Insurance Plan; Car Rental Loss and Damage Insurance; Trip Delay Insurance; Trip Cancellation and Interruption Insurance
  • No foreign transaction fee
  • Annual fee: $695

Enrollment required for select benefits; terms and limitations apply.

The Platinum Card® from American Express (Rates & Fees)

Read more in our 2021 Review: The Platinum Card® from American Express – Is It Worth the $695 Annual Fee?

Best for Foodies: Dining Out and Groceries

American Express® Gold Card

Our rating:
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American Express® Gold Card
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  • Min. credit levelGood
  • Annual Fee$250
  • Regular APRSee Pay Over Time APR

Rates & Fees

American Express is a Credit Card Insider advertiser.

You might expect the American Express® Gold Card (Review) to be a lesser version of the Amex Platinum, but that’s not really the case. It’s more like a different card product altogether, designed for different people.

Where the Platinum card is all about travel, the Gold card is maybe 30% about travel and 70% about food.

Its rewards program offers industry-leading rates on food, whether you’re dining out or eating in. It’s rare to see a high rate for both of these 4X categories on the same card — usually you only see one or the other. You’ll also get annual dining credits worth $120, but they really only serve to help offset the $250 annual fee.

Rewards

Spending Rewards
  • 4X Membership Rewards points per dollar at:
    • Restaurants
    • U.S. Supermarkets (up to $25,000 per calendar year in purchases, then 1X)
  • 3X Membership Rewards points per dollar on:
    • Flights booked directly with airlines
    • Flights booked through amextravel.com
  • 1X Membership Rewards point per dollar for every other purchase
Introductory Bonus
  • 60,000 bonus points for spending $4,000 in the first 6 months

So the idea here is to use the card for pretty much every bite you eat, and for the relevant travel categories. And then you should redeem the rewards for travel by transferring to airline miles or hotel points. Like the Platinum card (and every other card that earns Membership Rewards points) your most valuable redemption method will be point transfers. Transfers to qualifying airline and hotel loyalty programs could provide 2 cents per point, or even more if you find a good deal.

At 2 cents per point, you’ll be earning a cash back equivalent of 8% in the 4X categories, and 6% in the 3X categories. It’d be hard to beat that rate on food (but you can get close, or even a bit higher in certain situations).

Key Features

  • $120 annual dining credit: Earn up to $10 in statement credits per month for purchases at eligible restaurants and food delivery services.
  • Point transfer: To airline and hotel loyalty programs, like JetBlue, Southwest, Marriott, and Hyatt
  • Up to $120 in Uber Cash: Add the Gold Card to the Uber App to get up to $10 in Uber Cash per month; U.S. Eats orders and rides only.
  • Uber Eats Pass: Get unlimited $0 delivery fees and 5% off orders at eligible restaurants for 12 months; must enroll by 12/31/21. Taxes and service fees may apply and do not count toward the order minimum. Eats Pass will start auto-billing 12 months from enrollment, at then-current monthly rate. Learn more.
  • The Hotel Collection: Provides up to $100 in credits for every eligible hotel stay of two nights or more, along with other perks.
  • Amex Offers: Find discounts and extra point opportunities at a changing selection of merchants (offers are limited; enrollment required).
  • ShopRunner membership: ShopRunner provides free two-day shipping and returns at participating online retailers.
  • No foreign transaction fee
  • Annual fee: $250

Enrollment required for select benefits; terms and limitations apply.

American Express® Gold Card (Rates & Fees)

Read more in our Review: The American Express® Gold Card – Best Dining/Travel Card?.

Best for Low Annual Fee

American Express® Green Card

Our rating:
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securely on the issuer's website

American Express® Green Card
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securely on the issuer's website

  • Min. credit levelExcellent
  • Annual Fee$150
  • Regular APRSee Pay Over Time APR

Rates & Fees

American Express is a Credit Card Insider advertiser.

The information related to American Express® Green Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Looking for a new card, but not ready to go for the Gold or Platinum? Consider the newly revamped American Express® Green Card (Review), featuring a more modest set of rewards and benefits for a lower annual fee.

You’ll get competitive bonus categories (the travel category actually covers more than the above two cards) along with solid travel perks that could completely offset the annual fee. Check out the benefits; if you could use the CLEAR and LoungeBuddy credits each year, this card might deserve a spot in your wallet.

Spending Rewards
  • 3X Membership Rewards points per dollar for:
    • Travel
    • Restaurants worldwide
  • 1X Membership Rewards point per dollar for all other purchases
Introductory Bonus Offer
  • 30,000 bonus points for spending $2,000 in the first 3 months after account opening
    • Value: $300–$600 (1–2 cents per point)
    • Return on spend: 15%–30%

The redemption strategy here is the same as for other cards that earn Membership Rewards points: Save them up for valuable point transfers.

If you could get 2 cents per point by transferring to an airline or hotel partner, that’d give you a cash back equivalent of 6% in the 3X categories, with 2% back for every other purchase. That’s better than most other cards at this fee level when it comes to travel and dining.

Key Features

  • $100 annual LoungeBuddy credit: Up to $100 in credit per year for purchases at LoungeBuddy airport lounges (includes brands like Priority Pass, Delta Sky Club, and Plaza Premium)
  • $100 annual CLEAR credit: Up to $100 in credit per year for a CLEAR membership, which provides expedited security screening at certain airports, stadiums, and events
  • Point transfer: To a selection of airline and hotel partners, like British Airways, Delta, Marriott, and Choice Privileges
  • Amex Offers: Find significant discounts at a changing selection of merchants and websites.
  • Complimentary ShopRunner membership: ShopRunner provides free two-day shipping and returns at participating online retailers.
  • Travel Protections: Baggage Insurance Plan, Car Rental Loss and Damage Insurance
  • No foreign transaction fees
  • Annual fee: $150

Read more in our Review: American Express Green Card: Is It Worth the $150 Annual Fee?

Best for Premium Business Travel Rewards

The Business Platinum Card® from American Express

Our rating:
How To Apply
The Business Platinum Card® from American Express
How To Apply
  • Min. credit levelGood
  • Annual Fee$595
  • Regular APR14.24% - 22.24% Variable

Rates & Fees

The information related to The Business Platinum Card® from American Express has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The Business Platinum Card® from American Express (Review) is a close cousin of the consumer Platinum card above. They’re alike in many ways, but the business card has some important differences, such as:

  • There’s an additional 1.5X reward category for large purchases
  • The current intro bonus can net you more points, but you’ll have to spend a lot more to get them
  • There are no Uber or Saks credits, but you’ll get up to $100 in statement credits semi-annually for U.S. Dell purchases
  • You’ll get 35% of your points back when redeeming for eligible airfare
  • The annual fee is higher ($595)

Those are probably the main features to look at if you’re trying to decide between the two versions. Unless you buy from Dell every year or plan to make a lot of expensive purchases, you’ll probably have an easier time finding value in the consumer Platinum card.

Insider tip

Not sure if you’ll qualify for a business credit card? It’s probably easier than you think.

Rewards

Spending Rewards
  • 5X Membership Rewards points per dollar spent on flights and prepaid hotels on the American Express Travel website
  • 1.5X Membership Rewards points per dollar spent on eligible purchases of $5,000 or more (an extra .5 points per dollar, up to 1 million extra points per year)
  • 1X Membership Rewards point per dollar spent on all other purchases
Introductory Bonus
  • 100,000 bonus points for spending $15,000 on eligible purchases within the first 3 months of Card Membership

The redemption options are the same here as the consumer Platinum card, except for the 35% airline bonus. That would effectively give you a rate of 1.35 cents per point, which isn’t awful, but you could still do better with a point transfer to an airline or hotel.

That could give you 2 cents per point or more, so you’d earn a 10% cash back equivalent in the 5X categories, for example. For large non-category purchases over $5,000, you’d be getting a cash back equivalent of 3%, which is pretty solid.

Key Features

  • Global Lounge Collection: Complimentary access to Priority Pass, Centurion, American Express International, Delta Sky Club, Escape, Airspace, Lufthansa, and Plaza Premium Lounges
  • Up to $200 in airline fee statement credits annually: Good for incidental costs like checked bags and inflight food, not tickets, at your selected airline
  • Global Entry or TSA PreCheck application fee credit: A statement credit for the application fee of either Global Entry ($100 once every four years) or TSA PreCheck ($85 once every four-and-a-half years)
  • Complimentary elite hotel statuses: Hilton Honors Gold status and Marriott Bonvoy Gold Elite status
  • $200 Dell statement credit: Enroll to get an annual $200 statement credit for U.S. purchases with Dell: $100 from January through June, and $100 from July through December
  • The Hotel Collection: A $100 hotel credit and room upgrades when available for every eligible two-night stay
  • Fine Hotels & Resorts Program: Daily breakfast for two, room upgrades when available, amenities valued at $100, and more at eligible properties
  • Point transfer: To a selection of airline and hotel partners
  • No foreign transaction fee
  • Annual fee: $595

Enrollment required for select benefits; terms and limitations apply.

The Business Platinum Card® from American Express (Rates & Fees)

Read more in our 2021 Review: Business Platinum Card® from American Express – Is it worth the $595 annual fee?

Best for Flexible Business Bonus Categories

American Express® Business Gold Card

Our rating:
How To Apply
American Express® Business Gold Card
How To Apply
  • Min. credit levelGood
  • Annual Fee$295
  • Regular APR14.24% - 22.24% Variable

Rates & Fees

The information related to American Express® Business Gold Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

The American Express® Business Gold Card (Review) is a bit different than the other cards here.

Rather than steady categories, you’ll earn 4X points in the two categories (out of six) you spend the most in each month. This gives you some flexibility if you’re not sure what exactly you’ll be buying from month to month, which can make it tough to plan out a credit card strategy.

Rewards

Spending Rewards
  • 4X Membership Rewards points per dollar in the two categories with the highest spend per month, up to $150,000 in combined purchases per year (then 1X):
    • Airfare purchased directly from airlines
    • U.S. advertising purchases: online, TV, radio
    • U.S. providers of computer hardware, software, and cloud solutions
    • U.S. gas stations
    • U.S. restaurants
    • U.S. shipping
  • 2X Membership Rewards points per dollar for eligible purchases from American Express Travel
  • 1X Membership Rewards point per dollar for all other purchases
Introductory Bonus
  • 70,000 bonus points for spending $10,000 on eligible purchases within the first 3 months of Card Membership

Just like with all Membership Rewards cards, you should aim to transfer your points to airlines and hotels.

If you could get 2 cents per point, which is generally considered a pretty good value, you’d be earning an 8% cash back equivalent in the 4X categories. That’s pretty good, especially for categories like U.S. gas stations and U.S. restaurants.

Key Features

  • 25% airline bonus: Get 25% of your points back when booking eligible airfare through American Express Travel using Membership Rewards Pay with Points.
  • The Hotel Collection: A $100 hotel credit and room upgrades when available for every eligible two-night stay
  • Point transfer: To a selection of airline and hotel partners
  • Amex Offers: Access to extra point offers at a wide variety of merchants
  • Shopping and travel protections: Baggage Insurance Plan, Trip Delay Insurance, Car Rental Loss and Damage Insurance, Global Assist Hotline, Extended Warranty, Purchase Protection
  • No foreign transaction fee
  • Annual fee: $295

Enrollment required for select benefits; terms and limitations apply.

American Express® Business Gold Card (Rates & Fees)

Read more in our 2021 Review: American Express Business Gold Card.

What Are Charge Cards, and Are They Right for You?

Charge cards are a type of credit card which usually require you to pay the entire statement balance in full each billing period. You can’t always revolve the balance from month to month like a regular credit card, so you may need to pay off the statement balance by the upcoming due date.

Since cardholders don’t typically have to pay interest charges, charge cards usually have annual fees to help the credit card issuer make money.

If all that sounds fine to you, there’s no reason not to explore charge cards along with regular credit cards.

Your options are pretty limited since American Express is currently the only major credit card company issuing anything like charge cards. You may need better credit to qualify for the Platinum and Gold cards compared to the others.

Insider tip

There are two other former charge cards that didn’t make it on our best list… because they’re not the best:

Credit Limits: How Much Can You Spend With American Express’ Former Charge Cards?

Amex’s former charge cards don’t have regular credit limits; instead, they have no preset spending limits. This might be a bit confusing, because it does not mean unlimited spending.

According to American Express’ website, “Purchasing power adjusts with your use of the Card, your payment history, credit record and financial resources known to us, and other factors.”

So your purchasing power will change over time as you use the card. Some people believe the best way to increase your spending limit is to charge large amounts each month, while maintaining a perfect payment record as you go.

Generally, these former charge cards are known to have relatively high spending limits, making them good for anyone with large monthly expenses.

Since you won’t have an exact credit limit to work with, there’s a danger of accidentally maxing out your card or being declined when you make a purchase. You can’t see your overall spending limit. But you can go to Amex’s Spending Ability page to see if a specific purchase amount will be approved. You can also contact customer service to ask by calling the number on the back of your card.

Other than the payment requirements and spending limits, the terms and features of these former charge cards are pretty much like any regular credit card. They have rewards, benefits, annual fees, etc., just like other cards.

Insider tip

Charge cards are like other credit cards in most ways but there are some important differences, such as how credit limits are reported to credit bureaus and treated by credit scoring models. That means they can have different effects on your credit scores. Read more about the differences between charge cards and credit cards.

Getting the Most Out of Your Charge Card

  • Be prepared to pay: You must usually pay your charge card’s statement balance in full each month. Spending within your means is always important with credit cards, and even more so with charge cards.
  • Match rewards and benefits to your spending habits and lifestyle: Pick a card with bonus categories that you already spend a lot in, and benefits that will help save you time, money, and hassle.
  • Explore your perks: American Express cards come with quite a few benefits, so take the time to explore and understand them before making large purchases or traveling. You could miss out on reimbursement for a delayed trip, or you might stay at one hotel when you had an elite status waiting for you with another brand.
  • Wait for good point transfers: No matter which card you have, the best (most valuable) way to redeem your Membership Rewards points is by transferring them to partner airlines and hotels. There’s an excise tax offset fee of .06 cents per point when transferring to U.S. frequent flyer programs, so those should probably be at the bottom of your list.
  • Employee cards: If you have an Amex business card you can get up to 99 employee cards, although in some cases they’ll have annual fees of their own. You can easily track purchases and set spending limits for employee cards to help you keep an eye on monthly expenses.
  • Amex Pay Over Time: If you have one of Amex’s former charge cards, eligible charges can be included in a Pay Over Time balance, up to the Pay Over Time Limit. Eligible charges include purchases, foreign transaction fees, and annual membership fees. The following are ineligible for Pay Over Time: cash advances, including cash and other cash equivalents, certain insurance premiums, and any other fees owed to American Express. The Pay Over Time Limit applies to the total of the Pay Over Time, cash advance, and Plan balances. All charges not added to a Pay Over Time balance or monthly payment plan or cash advance balance must be paid in full each month by the payment due date. We recommend avoiding this option because you’ll be charged interest — and who wants that?
Insider tip

These cards make up a small slice of the overall credit card market. Dig into a variety of cards, designed for all manner of people and purposes, by browsing the Best Credit Cards.

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For rates and fees of the American Express® Gold Card, please click here.

For rates and fees of The Platinum Card® from American Express, please click here.

For rates and fees of The Business Platinum Card® from American Express, please click here.

For rates and fees of the American Express® Business Gold Card, please click here.

Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

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