Why do people prefer Amex?

It's known for its top-notch customer service and some of the best rewards available. From ultra-elite business travel cards to everyday rewards, American Express has credit cards that are a good choice for many different types of cardholders.

What is so special about an Amex?

An American Express card, also called an “Amex” card, can offer a variety of perks, including rewards points, cash back, and travel perks. Some cards are co-branded, such as those with Delta and Hilton. American Express is one of the few companies that issues cards and has a network to process card payments.

Why do rich people use Amex?

It offers access to Centurion Lounges, hotel benefits, Delta Medallion status, and personal concierge. Plus, you can earn 1 point per $1 in Membership Rewards. A black credit will always have a certain amount of mystique because of the secrecy and exclusivity of the Centurion® Card from American Express.

Is Amex really worth it?

Yes, an American Express card is worth it for people with good or excellent credit scores who want to earn rewards on U.S. purchases that they'll pay for in full by the due date every month. An Amex card may also be worth it for people who want an introductory low-interest period in addition to rewards.

Why is American Express better than other cards?

American Express can be better than Visa and Mastercard for cardholders who spend heavily, have good credit or better, plan to pay their monthly bills in full, and are able to justify paying any annual fees by earning more than enough in rewards.

5 Reasons Why I Prefer American Express!!!

Is Amex the most prestigious?

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.

Is American Express the hardest card to get?

Centurion® Card from American Express

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

Why is Amex so hard to get?

Yes, it's hard to get an American Express card because they all require good or excellent credit for approval. But American Express isn't the only credit card company to target people in the highest tiers of the credit score scale. Barclays and Wells Fargo do too, for example.

What is the downside of American Express?

The primary drawback of American Express cards is the fact that they charge companies for the payments that they process. This is because they have their own payment network and don't rely on companies like Visa and Mastercard. This means that some businesses, especially smaller ones, may not accept American Express.

Do Amex cards build your credit?

American Express can help your credit score if you are the primary accountholder or an authorized user aged 18 or older on an American Express credit card or charge card account. For an Amex card to be good for your credit score, the account must be kept in good standing with on-time monthly bill payments.

Does an Amex card mean you're rich?

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.

Can poor people get an Amex?

Unlike some other issuers, American Express does not offer cards geared toward people who have poor credit or who are rebuilding their credit. In other words, you'll likely need a score in at least the "good" range to qualify for an AmEx card. Other American Express cards will usually require even higher scores.

Do millionaires use Amex?

Millionaires use credit cards like the Centurion® Card from American Express, the J.P. Morgan Reserve Credit Card. These high-end credit cards are available only to people who receive an invitation to apply, which millionaires have the best chance of getting.

Why do people refuse Amex?

The answer is simple: stores want more money in its pockets. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover. When you buy items with your Amex card instead of another credit card, your favorite store will be charged a higher fee.

Where is Amex not accepted?

Countries Where American Express is Accepted Most: Canada, Australia, UK, India, Singapore. Places Where American Express is Not Accepted: Cuba, Sudan, South Sudan, Iran, Syria.

Does Amex still have a black card?

Yes, Amex still has a black card, called the Centurion® Card from American Express. The card is reserved for Amex cardholders who spend a certain amount per year.

What credit cards do billionaires use?

The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

Does Amex approve everyone?

Although American Express doesn't specify any minimum credit score requirements, you'll need good credit (or better) to qualify, which means a FICO score of at least 670. A premium Amex card — say, the American Express Gold Card — likely requires a “very good” FICO score, somewhere in the range of 740 and above.

Is Amex harder to get than Visa?

But in terms of comparing eligibility requirements for Visa, Mastercard, and American Express, American Express may be the hardest issuer to qualify for as most cards require applicants to have a “good” credit score of at least 670 to qualify.

What income do you need for Amex Platinum?

Person Income/Business Income

We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum.

What's the easiest Amex to get?

When applying for the Amex Blue Card, try to have a good credit score, which is a FICO® Score of 670 or above. This is one of the easiest Membership Rewards cards to open, and even consumers with average credit scores have a decent chance of approval.

How many Amex cards is too many?

Currently, you can have up to five American Express consumer credit cards at one time. It is important to note that American Express offers multiple types of cards — business cards and consumer cards — and that the rule only applies to consumer cards where you are the primary cardholder.

Who is Amex biggest competitor?

American Express's main direct credit card competitors are Mastercard, Visa, and Discover. While Mastercard and Visa have a different business model than American Express, they all compete in the credit card space. Financial institutions that issue credit cards also compete with American Express for consumer business.

Are Amex cards a status symbol?

See rates and fees) was originally launched in 1984 with an annual fee of $250—unprecedented at the time. Since then, it has become one of the most popular and sought-after travel rewards cards, as well as a status symbol.

How much is 150k Amex worth?

We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000-point bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.