American Express Card

What Is an American Express Card?

It is an American Express card, also called an “Amex” card, an electronic payment card branded by the publicly traded financial services company (AXP) American Express. The business issues and processes prepaid, charge, and credit cards. American Express cards are available to corporate customers, individuals, and small businesses across the united states worldwide.

Features

  • American Express cards are published by American Express—a publicly traded financial services company—charge cards, prepaid cards, or credit cards.
  • American Express cards are also called an “Amex” card, can offer various perks, including travel perks, rewards points, cashback. Several cards are co-branded, such as those with Hilton and Delta.
  • American Express is one of the few corporations that publish cards and networks to process card payments. Mastercard and Visa have processing networks but do not publish cards.

Understanding of American Express Cards

American Express cards are published by American Express and processed on the American Express network. American Express is only a few financial service companies that can problem and process electronic payment cards.

American Express is a publicly traded corporation in the financial services industry. It offers both network processing services and credit lending, giving it a broad range of competitors in the industry. As with popular banks, it can issue credit products, which it provides credit cards and charge cards.

American Express’s own processing system competes with Visa (V) and Mastercard (M.A.). Discover Financial Services (DFS) is its most tantamount competitor, a publicly traded financial service company offering credit grants and a processing service network. With multiproduct capacities, American Express makes revenue from interest-earning products and network processing transaction services.

Tip: The term “Black Card” refers to the American Express Centurion card, offered by invitation only.

American Express Fees

American Express produces a meaningful part of its earnings from business processing. Many dealers accept American Express cards and are willing to pay the transaction fees correlated with processing because of the advantages of offering American Express as a payment choice to consumers.

In an American Express transaction, the merchant’s collecting bank contact with American Express is the processor and the issuing bank in the transaction method. Merchant receiving banks must work with the American Express processing network to send information in American Express transactions. American Express is also the issuer that confirms and accepts the transaction.

Traders pay a small fee to American Express for its processing network services, which are part of the total fees included with a single transaction. As both a processor and high-quality banker, American Express has built a strong reputation in the financial services business.

Types of American Express Cards

As written above, American Express prepaid debit cards and credit cards are offered to different retail and commercial consumers. It is also a business-leading provider of charge cards, which provide month-to-month credit with card balances that must be paid off each month.

American Express charges and credit cards follow usual underwriting procedures. The company seeks good- to high-credit quality borrowers—a credit score of at minimum 670—and generally is not a subprime banker.

American Express credit card and charge cards come with various benefits in the form of rewards points and travel perks, which depend, in part, on the annual fee charged. American Express cards may offer cashback on certain purchases, though they aren’t among the best cash-back cards currently available. American Express also provides numerous branded prepaid debit cards, which can be used as gift cards or special-purpose reloadable payment cards.

Annual fees for American Express cards tend to run high: $95 for the Blue Cash Preferred Card, $99 for the Delta SkyMiles Gold American Express Card, $150 for the Green Card, $250 for the Gold Card, and $550 for the Platinum Card. That said, the Green, Gold, and Platinum cards have no predetermined spending limits. American Express does offer at least six cards with no annual fee. Customer service for all Amex cards is highly rated, with the company coming in No. 1 on J.D. Power’s 2020 U.S. Credit Card Satisfaction Study.

Partnerships, co-branded cards

American Express issues many of its cards directly to customers, but it also has partnerships with other financial institutions. In the U.S., for example, Wells Fargo published an American Express card (new applications were halted in April 2021, although this does not affect current cardholders). In Mexico, Banco Santander offers American Express cards.

 American Express also has partnerships with other firms to encourage customers to apply for its credit cards. Two examples are its co-branded cards with Delta Air Lines, which allow customers to earn regular flier miles redeemable on Delta, and its Hilton Hotels co-branded cards.

Best American Express Cards

American Express is a world chief in charge cards and credit cards, small-business owners, targeting higher-end consumers with compelling travel and entertainment rewards. We have analyzed Amex’s most popular cards and applied our objective screening guidelines to rate the company’s best cards across multiple sections. Below are our selections for the best in class.

Best Overall – Cash Magnet® Card

cash magnet

Recommended Credit Score – 670 – 850

Reward Earning Rate – 1.5% cashback on your purchases

Annual Fee – $0

Foreign Transaction Fee (%) – 2.7%

Intro Purchase APR – 0 % for 15 months

Current Offer – Earn $200 back after you spend $1000 in purchase on your new card

Best for Groceries: Blue Business Cash Preferred® Card from American Express

blue cash preferred

Recommended Credit Score – 670 – 850

Reward Earning Rate – 1.5% Earn 2% cashback on all eliglible purchases up to $50000 per calendar year then 1%

Annual Fee – $0

Cash Advance Fee (%) – This product doesn’t offer

Intro Purchase APR – 0 % for 12 months

Current Offer – Earn $200 back after you spend $1000 in purchase on your new card

Balance Transfer Fee – Either $5 or 3% of the amount

Current Offer – Earn a $250 statement credit after you spent $3000

Best for Hotels: Hilton Honors American Express Card

hilton honors

Recommended Credit Score – 670 – 850

Reward Earning Rate – 7 points per $1 for Hilton purchases. 5 points per $1 purchase at U.S. supermarket, U.S. gas stations, and U.S. restaurants. 7 points per $1 all other puchases.

Annual Fee – $0

Foreign Transaction Fee (%) – 0%

Regular APR – 15.74% – 24.74% variable

Current Offer – Earn $80000 Hilton Honors Bonus point after you spend $1000 in the first 3 months of card.

Best for Business – American Express® Blue Business Cash Card

blue business

Recommended Credit Score – 670 – 850

Reward Earning Rate – 5x prepaid hotels and flights, 1x on all else

Annual Fee – $695

Foreign Transaction Fee (%) – 0%

Regular APR – 15.99% – 22.99% variable

Current Offer – Earn 100,000 Membership Rewards Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership + earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.

Best for Travel: The Platinum Card® from American Express

platinum card

Recommended Credit Score – 670 – 850

Reward Earning Rate – 5x prepaid hotels and flights, 1x on all else

Annual Fee – $695

Foreign Transaction Fee (%) – 0%

Regular APR – 15.99% – 22.99% variable

Current Offer – Earn 100,000 Membership Rewards Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership + earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.

Best for Dining: American Express® Gold Card

gold card

Recommended Credit Score – 670 – 850

Reward Earning Rate – 4x groceries, 3x flights, and dining 1x all else

Annual Fee – $250

Foreign Transaction Fee (%) – 0%

Regular APR – 15.99% – 22.99% variable

Current Offer – Earn 60,000 Membership Rewards points after you spend $4,000 on eligible purchases with your new Card within the first 6 months. Terms Apply.

Best for Points, Daily Use: Amex EveryDay® Preferred Credit Card

amex everyday

Recommended Credit Score – 670 – 850

Reward Earning Rate – 3 points per $1 at US supermarkets on up to $6,000 per year. Earn 2 points at US gas stations, and 1 point on other purchases.

Annual Fee – $95

Foreign Transaction Fee (%) – 2.7%

Regular APR – 12.99% – 22.99% variable

Intro Purchase For – 0% for 12 months

Current Offer – 15,000 points after spending $1,000 in 3 months

Terms Apply.

Best Airline: Delta SkyMiles® Blue Card

delta skymiles

Recommended Credit Score – 670 – 850

Reward Earning Rate – Earn 2 miles per dollar at restaurants, and earn 1 mile per dollar on all other eligible purchases.

Annual Fee – $0

Foreign Transaction Fee (%) – 0%

Regular APR – 15.74% – 24.74% variable

Current Offer – Earn 10,000 Bonus Miles after spending $500 in purchases on your new Card in your first 3 months. Terms Apply.

American Express Customer Care

If any kind of information. You can simply call on American express Toll-free number – 1-800-419-2122

American Express Card

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