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American Express
The American Express Credit Card:
One Of A Kind

There are plenty of cardholders in North America who hold an American Express card, but is the American Express credit card really worth having? It certainly has a particular air of impressiveness about it, but with an annual fee and a very precise set of requirements for you to even be considered for having one, is the pay-off there?

If you are thinking about applying for an Amex card, consider the following points to get a better idea of what having an American Express card in your purse or wallet really means.

  • Are you the right type of person to have an Amex card? In order to get the credit card that has status, you need to have a good status yourself. While there are six different American Express credit cards available directly from the company, each one demands that you have good to excellent credit and a reasonably good level of income as well. You will need to be prepared to pay an annual fee, but you do get a number of benefits and extra services for that fee which can make it worthwhile if you are looking for a card which is a bit different from the rest.

  • What extras do you want from your American Express credit card? One of the most popular features of the American Express card is that you get purchase and refund protection – so if something you buy on the card is stolen, or breaks, or the shop you bought it from won’t refund you, then American Express will. If you are constantly out shopping, then you may well find this card to be a good option to have in your purse or wallet. You’ll also get cash back on your purchases, which can add up to a lot since the American Express credit card is one of the most generous cards there is when it comes to giving you something back.

  • How good is your credit? You will need to have an exceptionally good credit rating to be in with a chance of successfully applying for an American Express credit card. The prestigious nature of the card means that many people with average incomes and jobs won’t be accepted.

You might also be better off applying elsewhere if you have a significant balance on another card that you want to transfer to a new one. If you have run into trouble keeping up with payments in the past then it would be advisable to look for a card which is designed to appeal to people in your situation. The Amex card tends to be focused more on rewarding people for spending on the card.

In short, not everyone will be able to get an American Express credit card. If you are one of the lucky ones, however, you will find that it’s a very useful card to have – provided you know how it works and you use your Amex to your best advantage.

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