The benefits of American Express cards include several types of travel insurance, return protection, and purchase protection. These benefits are mostly found on the top-tier American Express cards, though many more American Express cards have rental car insurance and extended warranty. To know which perks are included on a specific card, you’ll need to call customer service at 1-800-528-4800 or check the American Express website.
American Express Card Benefits
Rental car insurance
Cell phone protection
Trip cancellation insurance
Trip delay insurance
Global Assist (an emergency card assistance hotline)
In addition to having some or all of these card perks, it’s important to remember that many American Express cards also give rewards. Rewards aren’t generally considered card benefits, but having a credit card that earns great rewards can be a big asset to cardholders. As long as you use your card responsibly and maximize the various benefits that American Express offers, you should come out well ahead of any annual fees that American Express cards may charge.
Yes, it is good to have an American Express credit card because Amex cards offer bonus rewards on a variety of purchases for people with good or excellent credit. American Express cards also come with an array of welcome offers and introductory 0% APR promotions, in addition to a certain air of prestige.… read full answer
As good as American Express cards are to have, they’re not for everybody. For example, American Express does not offer credit cards for students, or cards for applicants with less than good credit, such as secured cards. Additionally, Amex cards aren’t always the cheapest credit cards to own. While a number of Amex cards provide great value with a $0 annual fee, a card like The Platinum Card® from American Express – which has lots of high-end perks – charges an annual fee of $695.
In terms of credit card acceptance, the number of U.S. merchants that take American Express cards has risen in recent years to 10.6 million, slightly lower than the Visa and Mastercard networks. Worldwide, the number of countries where American Express cards are accepted trails the other three major credit card networks. Even in countries where American Express is accepted, some individual merchants may not accept it.
American Express vs. Mastercard is a debate typically reserved for people with good or excellent credit. That’s because American Express, the largest U.S. credit card company by purchase volume, only issues credit cards to people in the top tiers of the credit score scale. Mastercard credit cards, on the other hand, are available to people of all credit levels. But that’s not even the most important distinction between the two companies. What really sets them apart is the fact that Mastercards are issued by lots of different banks and credit unions, while American Express credit cards are largely issued by Amex itself. Both American Express and Mastercard are credit card … read full answernetworks, you see, but only Amex is a credit card issuer, too.
So while Mastercard handles transactions and determines where its cards can be used, it has no hand in setting the rates and rewards on individual cards. American Express does have that freedom, though.
American Express vs. Mastercard – Key Points:
Network/Issuer: American Express does both, while Mastercard is a network only.
Credit Cards in Circulation (U.S.): 47.5 million Amex; 199.8 million Mastercard.
U.S. acceptance locations: 10.7 million for Mastercard; 8.5 for American Express.
International Acceptance: 160+ countries and territories take American Express cards, while a Mastercard works in 210+.
Surprisingly, American Express and Mastercard have similar purchase volume within the U.S., despite far more merchants accepting Mastercard. That’s due, at least in part, to Amex catering to wealthy high-spenders with cards that often emphasize rewards over financing.
Despite their differences, both American Express and Mastercard have some great credit card choices, and they each take the top spot in different categories.
Here are some of the top American Express and Mastercard credit cards:
An American Express card is not an ideal option for a first credit card.
There are better options out there since your goal should be to find a card that does not charge an annual fee. If you have an active college email address, we recommend comparing our editor’s picks for the … read full answerbest student credit cards. If not, the Capital One Platinum Card and the Capital One Secured Card both are excellent options.
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