American Express is good because its credit cards offer customers a wide selection of bonus rewards in popular purchase categories. American Express credit cards also have an assortment of lucrative welcome offers, introductory 0% APR offers, and luxury travel benefits.
American Express is special because it is a luxury credit card brand, known for offering elite rewards and having exclusive approval requirements. American Express also is among the country's largest credit card issuers by purchase volume, and it is one of the four major payment networks.
Some American Express cards earn simple cash back, while others offer rewards points and travel benefits. Many AmEx cards also come with a variety of useful side perks. Regardless of your goals, there's likely an American Express card that fits your priorities, habits and lifestyle.
No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.
Why It's One of the Most Exclusive Credit Cards: The most exclusive, prestigious credit card is without a doubt the American Express Centurion Card, otherwise known as the Amex Black Card. That's because it's the most famous.
Winner: Visa
American Express has long charged higher credit card processing fees than other payment networks. To avoid those more expensive fees, some merchants have opted not to accept American Express cards. It's accepted in over 170 countries; however, Visa is accepted in over 200 countries.
Why Isn't American Express Accepted Everywhere? If you have an American Express card, then you may have visited merchants who accept other credit cards, but not your Amex. The reason has to do with the interchange fees charged by the credit card payment networks such as Visa, Mastercard, Discover and American Express.
It's generally harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex's credit card offers require good or excellent credit for approval.
According to Weiss, one of the most recommended cards for high-net-worth individuals is The Platinum Card® from American Express . While this card comes with a wide range of perks that make it seem too good to be true, it also comes with an annual fee of $695 (See Rates), which is higher than most other credit cards.
No, American Express does not verify income on most credit card applications or credit line increase requests. Amex will generally require income verification only if something seems out of the ordinary, such as a 21-year-old claiming to have an annual income of $150,000.
What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 720, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees. Amex cards are targeted toward people with good credit and high incomes who are likely to charge large amounts to their cards every month.
Amazon Pay accepts the following payment methods: Credit card currently accepted include Visa, MasterCard, and American Express. Debit card currently accepted include Visa Electron, Delta, and Maestro.
What makes American Express different is that it is both a card issuer and a card network. Unlike card issuers such as Chase or Bank of America and card networks such as Visa or Mastercard, American Express serves both the role of servicing accounts and processing transactions.
Drawbacks of American Express include the notorious annual fees. Although an annual fee is almost expected, the actual fee itself varies.
2020 Nilson Report claims that American Express is now accepted at 10.6 million merchants in the United States, equating to a 99% acceptance rate.
American Express is often better than Visa and Mastercard for use in the U.S. by people with good or excellent credit who pay their bill in full monthly and redeem rewards for domestic travel or cash, depending on the Amex.
Yes, Walmart does accept American Express credit cards, debit cards and gift cards. In addition to American Express cards, Walmart accepts cards from the 3 other major card networks. And they accept their own store credit card that can only be used at Walmart.
In addition to connecting your bank account to PayPal, you can also use credit cards with the online payment service. You can use most major credit cards on PayPal, including Visa, MasterCard, Discover, American Express, and more.
You can pay for most items on eBay with a credit card or debit card, including Visa, MasterCard, Discover Card, and American Express.
Places Where American Express is Not Accepted: Cuba, Sudan, South Sudan, Iran, Syria. Major Retailers That Accept American Express: Amazon, IKEA, Sears, Target, Walmart, Lowe's, Apple, Best Buy, Staples, CVS. Major Retailers That Don't Accept American Express: Costco, small non-chain stores/restaurants.
Apply for the Amex financial relief program: If you're having difficulty paying your annual fee due to unforeseen financial difficulty, apply for the financial relief program online or call Amex at (866) 703-4169. You could potentially have your annual fee waived.
Note that Amex will still report your statement balances to the credit bureaus, even if they don't affect your credit score. This means that other creditors looking at your report (for a mortgage or car loan, for example) will see the balance when deciding whether to approve you.
The highest level American Express card is the Centurion card, which is also known as the 'black card.
According to the score ranges from FICO, that means American Express applicants typically have at least a 670 score: Exceptional. 800 and above.