I wonder if the AMEX cards historically being "charge cards", which have to be paid in-full at the end of the month, encouraged healthy habits and better credit scores.
I credit my first AMEX with helping to keep my spending in-check when I started high-paying jobs because I always had in the back of my mind that the balance had to be paid-in-full. Take a lavish vacation? Make sure you have the savings to pay it off. In the end it was always paid off monthly.
> encouraged healthy habits and better credit scores.
Like you said, it required the habits or else they'd close your card, so it enforced better habits. Also the charge-cards don't impact your spending in your credit report, so it definitely helps the holder's credit score.
The charge cards don't even have to be paid in full anymore. They offer "pay over time" for charges on platinum/gold/green/etc which effectively makes them credit cards.
I credit my first AMEX with helping to keep my spending in-check when I started high-paying jobs because I always had in the back of my mind that the balance had to be paid-in-full. Take a lavish vacation? Make sure you have the savings to pay it off. In the end it was always paid off monthly.