Saturday, December 3, 2022

How Does American Express Credit Card Work

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Amex Welcome Offer Rules

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Not only does American Express have rules in place for card applications, but it also places limits on its credit card’s attractive welcome offers. While some card issuers allow you to earn a welcome offer for the same card more than once, typically after a specific period of time, American Express isn’t as lenient.

The Platinum Card From American Express

At $695, the Platinum Card has one of the highest annual fees of any mainstream card. However, as long as you’re willing to float it up front, you can get way more value back from the card for instance, it’s possible to get more than $2,000 in value from it during your first year.

The Platinum Card offers 5 points per dollar spent on flights booked directly with the airline, as well as flights and pre-paid hotels booked through Amex Travel . It earns 1 point per dollar on everything else.

The card comes with a long list of perks, including access to more than 1,300 airport lounges within the Priority Pass** network, as well as Delta Sky Clubs and proprietary American Express Centurion Lounges. It also offers complimentary Gold elite status with Marriott and Hilton hotels**, as well as up to $100 per year in shopping credits at Saks Fifth Avenue**, up to $200 in Uber credits** each cardmember year, and access to special events.

The Platinum Card® from American Express recently added several new benefits, including up to $300 annually in Equinox credits**, $189 per year in **, up to $200 per year in , up to $240 in annual credits toward eligible digital subscriptions**, and and SoulCycle at-home bike purchases**.

Read more about the Amex Platinum card:

Why Did I Get Declined By American Express

If your application for an American Express card was declined there are a number of possible reasons. A less-than-stellar credit history is one. But another factor that could affect your appeal to an issuer is your debt-to-available credit ratio. If an issuer sees you are close to maxed out on your other cards, it could signal a problem. And, if youve applied for too many cards within a short period of time, issuers generally consider that a red flag.

If you dont think you should have been denied, you can reach out to the issuer and ask for reconsideration. This is when you contact the issuer and ask them to reconsider your application. Theres no harm in doing so and it may result in your application being approved.

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Hilton Honors American Express Aspire Card: Best For High

The Hilton Aspires benefits can be worth far more than the annual fee, even for infrequent Hilton guests.

Welcome offer: 150,000 Hilton Honors bonus points after you spend $4,000 in purchases on the card within your first three months of card membership.

Earning rate: 14 points per dollar spent on eligible purchases at hotels and resorts in the Hilton portfolio 7 points per dollar spent on flights booked directly with airlines or Amex Travel, car rentals booked directly from select car rental companies, and U.S. restaurants 3 points per dollar on other eligible purchases.

Annual fee: $450 .

Why we chose it: The card carries a host of valuable perks, including an annual up to $250 airline fee credit and an annual credit of up to $250 valid at select Hilton resorts. This card is the only cobranded hotel credit card that grants you automatic top-tier status, Hilton Diamond, with a hotel loyalty program. Enrollment is required for select benefits.

If you can max out the airline fee credit, your annual fee essentially drops to $200, and the value of the weekend night certificate should nearly cover the rest. Then you have the terrific earning rates at Hilton properties a return of 8.4% based on TPGs most recent valuations plus Priority Pass membership and the annual resort credit. Even if youre only a semiregular guest at Hiltons various brands, its fairly easy to get outsized value from the card. Enrollment is required for select benefits.

Blue Cash Preferred Card From American Express: Best For Maximizing Cash Back

American Express Gold Card Review

The Blue Cash Preferred is a solid cash-back card for groceries at U.S. supermarkets and select U.S. streaming services.

Welcome offer: Earn a $350 statement credit after you spend $3,000 in purchases on your new card within the first six months.

Earning rate: 6% cash back at U.S. supermarkets , 6% cash back on select U.S. streaming services, 3% cash back at U.S. gas stations, 3% cash back on transit, 1% back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed for statement credits. Terms apply.

Annual fee: $95 .

Why we chose it: This card may be a good option if you just want to put some cash back into your wallet, as we do value it as one of the best cash-back credit cards. A 6% bonus category is among the highest youll find with cash-back cards, although I wish the bonus extended to merchants other than U.S. supermarkets and select U.S. streaming services. Nevertheless, if youre a big grocery shopper, getting a 6% return is solid. Just make sure that youll spend enough each year to offset the cards $95 annual fee.

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What Kinds Of Things Can Amex Concierge Do

While Amexs concierge service is separated into five different options when you call them up, theyre quite flexible within these categories! Here are a few examples of what Amex concierge can whip up for you:

  • Event and dining booking. A rather traditional use of concierge services, you can request Amex nab a seating at your favorite restaurant or purchase tickets for an event, even if the event isnt happening the same day.
  • Gifts. Need some surprise flowers delivered? Or need an idea on what chocolates are hottest in town? Ask your concierge service and they can find a suitable gift for the recipient.
  • Travel. If you need some flights booked for your next business trip, Amex concierge can help you find the perfect flight based on your specifications and preferences. This extends to other travel plans, including hotels and transportation needs. In fact, your concierge service can book your entire itinerary.
  • Recommendations. One of the most useful parts of the Amex concierge service is the time and research they can perform on your behalf. Whether its a cheap flight or a great place for birdwatching, you can assign your needs out to the concierge service like homework .

American Express concierge service policy

American Express concierge service is a complimentary feature on your credit card and you pay nothing extra to use it. But you have to pay for any purchases, fees and shipping charges that you authorize to be charged to your card.

Delta Skymiles Gold American Express Card

Delta flyers have a whopping seven co-branded Delta SkyMiles credit cards to choose from, ranging from the no-annual-fee Delta SkyMiles® Blue American Express Card to the luxury Delta SkyMiles® Reserve American Express Card.

For the average traveler who flies Delta a few times a year, the Delta SkyMiles® Gold American Express Card is our top pick. For a moderate $0 intro for the first year, then $99 annual fee, cardholders receive elite-like perks that include a free checked bag on Delta flights for themselves and up to eight companions on the same reservation. You’ll also get priority boarding and 20% off inflight purchases as a statement credit on Delta flights, and a $100 flight credit when you spend $10,000 or more in a calendar year.

There’s currently a welcome bonus offer of 70,000 bonus miles after you spend $2,000 in purchases on your new card in your first 3 months . Cardholders also get decent travel and shopping benefits, including car rental insurance, baggage insurance, purchase protection, and extended warranty.

Read more about the Amex Delta Gold card:

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How To Check Your Credit Score

Before you apply for a credit card, it makes sense to know where you stand. You can check your credit in several different ways:

  • Use a free credit report site. Its a good idea to check your report through a reputable site like AnnualCreditReport.com once per year to make sure there arent any errors on your report that could have an adverse impact on your score. Note that these reports dont give you your actual score but contain all the information that goes into calculating your score.

American Express Gold Card: Best For Dining At Restaurants

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Welcome offer: Earn 60,000 Membership Rewards points after you spend $4,000 on eligible purchases with your new card within the first six months of card membership.

Earning rate: 4 points per dollar spent dining at restaurants and at U.S. supermarkets , 3 points per dollar on flights purchased directly with the airline or at American Express Travel, 1 point per dollar on other eligible purchases. Terms apply.

Annual fee: $250 .

Why we chose it: The Amex Gold Card is a terrific option for foodies whether you eat out, order delivery or cook at home. The 4 points per dollar earning rate on dining at restaurants and U.S. supermarket purchases equals a stellar 8% return on your spending according to TPG valuations.

I personally love my Amex Gold and use it all the time, and have come to appreciate it even more during the coronavirus pandemic. Ive been spending more on groceries and food delivery, and its great that I get 4 points per dollar on my supermarket purchases and any takeout I order to support local restaurants . Plus, you can use the dining credit on Grubhub . Factoring in the new up to $120 Uber Cash for U.S. services and up to $120 in annual dining credits, this card effectively costs just $30 per year. Note: The card must be added to the Uber app to receive the Uber Cash benefit. Enrollment is required for select benefits.

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Their Differences Go Beyond Just Where Theyre Accepted

When comparing credit cards, there are many different factors to consider, including the companies behind the card. While American Express acts as both a credit card issuer and a payment network, Visa only works with various card issuers as a payment network.

That difference alone can impact your experience as a credit card user because it will affect your card’s acceptance, benefits, and other features.

Complete Breakdown Of American Express Late Fees

If you’ve got an American Express credit card , then you know these can be a fast and convenient way of paying for purchases. However, like any other charge card, you can end up with some unexpected expenses due to credit card late fees.

Want to avoid the frustration of random fees on your bill? If you have or are thinking about getting an AMEX credit card, you need to understand how their credit card late fees work.

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How Do Business Credit Cards Work

Business credit cards work much the same way as personal credit cards, though they generally offer a higher spending limit and better rewards programs. They also include business-centric tools to track spending in various categories or by employee. Oftentimes, expense information can be downloaded and easily imported into your business accounting software. You can apply for a business credit card with or without having an employer identification number , sometimes also referred to as a tax ID number a kind of Social Security number for your business.

Lenders typically offer various types of business credit cards. Some may have higher or lower annual percentage rates , depending on the creditworthiness of the business or, if the business doesnt have a sufficient credit history, its owner. They also differ in reward structures: Businesses spending requirements differ some may spend a lot in marketing and advertising, while others spend more in travel or office equipment so different reward structures are needed to match different businesses needs.

Why Amex Charge Cards Can Still Be A Good Thing

Gold Delta SkyMiles Business Credit Card from American Express ...

Yes, they charge an annual fee when many credit cards dont. Yes, they arent accepted everywhere. Yes, you dont know exactly how much you can charge on them.

BUT: They are charge cards, not credit cards. Unless you explicitly ask to pay for a particular purchase over time, the balance is due each month, and you cannot incur new charges if your balance is unpaid or too high.

American Express charge cards are a great tool for people who need the convenience of a credit card but who have had trouble with credit card debt in the past. And, contrary to popular opinion, you dont need spotless credit to get approved for the basic American Express Green Card .

Learn how to check your credit report for absolutely free here.

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Check For Offers On Cardmatch

One place to check for American Express prequalified and preapproved offers is on CardMatch, a tool offered here on CreditCards.com. You just need to enter basic personal information such as your name and address, as well as the last four digits of your social security number to check your offers.

When you check for prequalified card offers on CardMatch, it does not trigger a hard pull to your credit. Instead, offers are extended based on a soft pull meaning you dont have to worry about hurting your score.

Once you enter the requested information, youll be able to view a full list of prequalified and preapproved card offers plus other suggestions for you from American Express, as well as many other card issuers.

Tip: You might be able to qualify for a targeted offer for a higher introductory offer when you apply for an American Express card through CardMatch.

Many card issuers use the terms prequalified and preapproved interchangeably, but Amex distinguishes between the two. When you check CardMatch, you might see a banner that refers to an offer as either prequalified or preapproved.

American Express Green Card: Best For Beginner Travelers

Welcome offer: 45,000 Membership Rewards points after you use your new card to make $2,000 in purchases in your first six months of card membership.

Earning rate: 3 points per dollar spent on worldwide travel, transit and restaurants.

Annual fee: $150 .

Why we chose it: The Green from Amex is a great mid-tier card for beginner travelers. Amex expanded the bonus categories to include a wide range of travel purchases, including transit and home-share rentals, on top of traditional airfare and hotel purchases something other Amex cards have yet to do. The card also got some upgraded features, such as an up-to-$100 Clear membership credit and an up-to-$100 LoungeBuddy credit. Although the annual fee did increase to $150, this card has jumped to the top of some TPGers wish lists. Enrollment is required for select benefits.

The information for the Amex Green card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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What Programs Does American Express Offer

Many American Express credit cards feature competitive base rewards programs and lucrative welcome offers. They also offer a number of valuable benefits that can prove useful when shopping or traveling. These benefits, which are not exclusive to Amexs premium products, can include:

American Express also offers several flexible payment options on certain personal and business cards. These options can include:

  • Pay It, Plan It®: This feature, available on select personal cards, allows eligible cardholders to pay small purchase amounts right away through the American Express app. Alternatively, it lets them split up larger purchases into monthly payments with a fixed fee. Learn if Amexs Pay It Plan It is worth it.
  • Pay Over Time: This feature, available on select personal and business cards, lets eligible cardholders carry a balance on eligible purchases, with interest.
  • Working Capital Terms: This feature allows eligible business cardholders to get access to up to $150,000 in funding.
  • Expanded Buying Power: This feature allows eligible business cardholders to spend over your credit limit .

What Is Plan It

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With Amex Plan It, on the other hand, you can pay down a purchase worth at least $100 over time without paying interest. Instead, Amex Plan It charges a fixed monthly fee. Depending on your specific plan and card terms, this can help you save money over time and divide payments toward a large purchase over several months.

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The Blue Business Plus Credit Card From American Express

The Blue Business® Plus Credit Card from American Express earns 2 points per dollar on the first $50,000 you spend each year . Up until that $50,000 threshold, you’re effectively earning a 3.6% return on all your purchases, based on Insider’s points and miles valuations.

Another bonus is that The Blue Business® Plus Credit Card from American Express has no annual fee. Just remember that it is a small-business credit card, so if you don’t have a side gig or a small enterprise that would qualify you for a business card, you won’t be eligible.

Cardholders also qualify for a 0% intro APR on purchases for the first 12 months from account opening, followed by a 14.74% – 22.74% Variable APR. This makes the card a good choice if your business has larger purchases coming up that you want to pay for over time.

The Blue Business® Plus Credit Card from American Express doesn’t normally offer a welcome bonus, but right now it’s offering 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the card within your first 3 months of card membership.

Read more about the Blue Business Plus card:

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