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American Express Credit Cards – Get The Facts

American Express credit cards have been around since the 1950′s. The company is as well known as Visa and MasterCard, yet it is not as widely accepted as the other two businesses. It seems that the company’s credit cards are more popular in Europe than in the United States.

There are a few different reasons for this, but you should keep this factor in mind if you are considering an AMEX credit card.

As with all other credit card companies, there is an application process to venture through before receiving an American Express credit card. The majority of people trying to get a credit card from American Express have claimed that it is a rather difficult company to be approved with.

They will, or course, evaluate your credit history, current credit score, employment status, and debt to income ratio to determine whether you are creditworthy, and if so, for how much.

American Express credit cards offer a wealth of options as far as reward incentives go. They have travel, gas, food, and general merchandise perks that will allow you to earn cash back or points that can be traded for various items.

The percentages for cash back are typically higher, and the points system offer a lower exchange rate for items. This ability to offer these more enticing bonuses comes with a price, however.

The company charges a greater transaction fee each time you use your card at any online or offline retailer that accepts their card. It may be 1 full percentage more of your purchase price than Visa, MasterCard, and other companies charge.

Additionally, American Express is able to keep the entire transaction fee, as the other companies have to share with the bank or business that you actually received your card from. The larger fees can be harmful to the retailer, especially on large purchases. For this reason, many businesses prefer not to accept AMEX credit cards.

Overall, American Express credit cards offer an array of bonus perks that can benefit consumers better than other card companies. On the other hand, to receive these rewards may mean having fewer options for where your credit card will be accepted.

It is important to consider the places you will be using the card, because if many retailers will not take the card, you cannot reap the rewards. Also, you must have a good credit score and other financial details in order to even be approved with this company.

Related Information:

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  4. American Express Credit Cards Offer Exceptional Choices We review some of the most popular American Express credit cards on the market today. See if an AMEX offer is right for you and apply online today….