Browse the Best American Express Credit Cards

 

American Express Credit Cards

American Express is one of the top issuers of credit cards in the world. American Express offers two kinds of credit products: charge cards and credit cards. But what’s the difference between a credit card and a charge card?

What Is a Charge Card?

Many of the Amex credit cards people instantly imagine when the name “American Express” pops up aren’t actually credit cards. The Platinum Card from American Express, the Amex Gold Card, and other products are actually charge cards. Amex also offers business charge cards, like the Business Platinum Card.

Charge cards differ from credit cards in several important ways:

• Charge cards don’t have a pre-set spending limit: Unlike credit cards, which come with a credit limit, charge cards don’t have a limit. Instead, cardholders are expected to pay their entire balance in full.
• Pay in Full Each Month: Unlike credit cards, charge cards require payment in full each month.
• Annual Fees: Charge cards typically have annual fees. In contrast, not every credit card charges a fee each year.
• Limited Availability: Credit cards come from a massive number of issuers. Charge cards, on the other hand, are not as widely available anymore. Really, American Express is the only major company to offer charge cards.

Charge cards make sense for those concerned about t their credit utilization. Because they lack a set spending limit, charge cards don’t have the same effect on a credit score as a credit card. Neither FICO nor VantageScore factor in charge cards, making them an excellent choice for financing larger purchases that can be paid back at the end of the billing period.

American Express Credit Cards

While many of the best-known cards from American Express are charge cards, the company also offers excellent credit card products, like the Blue Card, Blue Cash Preferred Card, or the Blue Business Plus. Credit cards from American Express cover every style and variety.

These include hotel rewards cards, airline rewards credit cards, cash back credit cards, and business credit cards. The Blue Cash everyday card from American Express provides cashback on all purchases, plus a spending bonus.

American Express Membership Rewards Guide

American Express Membership Rewards is the loyalty program for American Express credit card members. How does American Express Rewards work? American Express Rewards is available to those with “classic” American Express (Amex) rewards credit cards, like the Platinum Card, the Gold Card, and the Green Card. The Amex EveryDay® Credit Card also applies for Membership Rewards.

Value of Amex Membership Rewards Points

American Express Membership Rewards are among the most valuable points in the credit card rewards space. Amex Rewards points are comparable to Chase Ultimate Rewards Points in that they offer exceptional value on travel redemptions. This includes 1:1 point transfer partners and enhanced and expedited travel partner transfers.

Amex points have a current value of 2 cents per point, placing them on par with Chase points. The real benefit with Amex, however, is the sheer volume of transfer partners and the speed at which point transfers are completed.

How to Earn Points with Amex

Amex Rewards points are like points from other programs. Cardholders earn points for qualifying purchases, with select categories earning enhanced points. Cardholders also earn points through signup bonuses, something Amex is known for. Some American Express credit cards offer signup bonuses of up to 100,000 points, making them among the most lucrative credit cards on the market.

Other options for earning large amounts of Amex points include referral bonuses for recommending American Express credit card products to friends and family, getting extra points through select offers, or taking advantage of limited-time opportunities. Cardholders can also transfer points from other loyalty programs, including hotels and airlines worldwide.

How to Redeem Points

As with other loyalty programs, Amex Membership Rewards points apply to a wide variety of redemption options. Those redemption options include:

• Travel
• Statement credits
• Shopping for merchandise
• Gift Cards
• Charitable donations
• Points transfers

Using points for statement credits or shopping provides the lowest value for money. Using points as credits towards account charges provides a value below one cent per point, making it an option to avoid unless necessary.

The same applies to shop purchases – especially through Amazon, where Amex points are usable (along with Discover points). Using points on Amazon.com, however, provides the same valuation as statement credits – 0.65 cents per point. That valuation is well below the two cents per point some travel partners offer.

American Express Travel Partners

The best options for AMEX points are by booking travel through the American Express travel portal, or through their partners. Booking at Amextravel.com provides a point valuation of up to two cents per point. This valuation places the points on par with Chase Ultimate Rewards, widely considered some of the best travel rewards points on the market today.

American Express offers instant transfers to 15 partners:

• Aer Lingus
• Etihad
• Air Canada
• Hawaiian Airlines
• Air France/ KLM
• JetBlue
• Alitalia
• Virgin Atlantic
• British Airways
• Choice
• Delta
• Hilton
• El Al
• Marriott Bonvoy
• Emirates

AMEX also offers near-instant (48 hours or less) transfers to five additional partners:

• Aeromexico
• Iberia
• All Nippon Airways (ANA)
• Singapore Airlines
• Cathay Pacific

What to Look for in an American Express Credit CardAlso, many of these partners offer point transfers at a ratio of 1:1, which is comparable with Chase Ultimate Rewards. Unlike Chase, however, the speed these transfers take place is unmatched, making Amex Membership Rewards perfect for travelers who frequently make last-minute changes to their itinerary.

When applying for an Amex Card, what should you look out for before applying?

• Rewards: What do you want in a credit card? Do you plan to use your card for cash back rewards, or do you think you’ll find more value through redeeming for travel?
• Annual Fee: Carefully weigh up the annual fee versus how much you plan to make use of the perks the card offers. If, for example, you travel frequently, the Platinum Card offers much more value for money than the $550 annual fee. If you travel infrequently, however, other options may provide better value.
• No Foreign Transaction Fees: Many Amex credit cards feature no foreign transaction fees.
• Co-Branded: American Express Cards branded with a hotel (like Hilton) or an airline (like Delta) offer exceptional value for those who frequent those brands. They provide less value, however, for those who prefer to shop around.
• Sign Up Bonuses: Many Amex credit cards come with an impressive intro bonus. Some cards offer big signup bonuses when you spend $1,000 in purchases within three months of card membership. Amex rewards cards, like the Hilton Honors American Express, offer extra Hilton Honors bonus points after you spend a set amount.

FAQs About American Express

Here are answers to commonly asked questions about American Express, Amex rewards credit cards, and more:

Is there an American Express credit card for bad credit?

No. At this time American Express does not have an Amex card for those with bad or fair credit. The company does offer two prepaid debit cards, the Amex Bluebird and Amex Serve, both of which are available to anyone. The Bluebird is an Amex card issued with Walmart.

Is there an American Express secured credit card?

No. There used to be the Navy Fed Amex Secured Card, issued through Navy Federal Credit Union. That card, however, is no longer being issued, meaning there are currently no Amex secured cards available.

Can I get a free credit score through American Express?

Yes. Amex recently introduced its Amex Score Goals program.   This free program – open to anyone with -or without – an American Express card, lets you check your credit score and set up a plan to reach your dream credit score.

Does American Express charge a late payment penalty?

Amex charges a penalty fee of $27 for the first late payment and up to $38 for a second late payment in the following six billing periods. These penalty fees cannot exceed the minimum balance due, however.

How do I login to my American Express credit card account?

Visit https://www.americanexpress.com/en-us/account/login to access your American Express credit card or charge card account. At this site you can login to your US American Express account,  activate a new AMEX card, review and spend your reward points, and more.

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