Title: A gold card for seniors' golden years - New York Daily News
Headings: A gold card for seniors' golden years
A gold card for seniors' golden years
Content: The benefits may be enticing, but the decision of whether you should sign up isn't so simple. "I don't know that rewards cards are always a good idea," said John Ulzheimer, president of consumer education at SmartCredit.com. Using a charge card is not the best idea for consumers who can't pay off their balance each month. If you carry a balance, "you are going to get slapped with a huge late-payment fee," said Curtis Arnold, founder of CardRatings.com. For people who charge groceries, prescriptions or other necessities if they're short on cash, this type of card is not ideal, Ulzheimer warned. " If you can't afford it today, will you be able to afford it in 30 days?" he asked. But if you have savings that will allow you to pay each month's expenses, then spending more on the card can reap more rewards. For those who travel abroad, AmEx promises a better exchange rate than many banks, airports or money exchange services. To do so, AmEx charges a 2.7% foreign transaction fee.