American Express: Should You Really Never Leave Home Without It?
American Express, or AMEX, as some prefer to call it, is among the top companies when it comes to credit cards. They offer a variety of card options, some of these even with low APRs and no annual fee. They have excellent rewards programs, including the SkyMiles frequent flier rewards. There’s no doubt about it that an AMEX card is a great asset for your wallet.
Things to Consider
While an American Express card can bring you a lot of benefits, it is not as widely accepted as Visa, MasterCard or even Discover. Sure, they have merchants worldwide, however, if you plan to use a credit card for shopping and other things, you might want to carry AMEX along side another card or two, in order to be prepared for anything. This is not advice meant to tell you to stock up on credit cards so you can spend, spend, spend; rather, it is a precaution to take for the world we live in.
Not every merchant can accept AMEX. Not every merchant accepts the other cards either. It is dependent on the businesses’ ability to afford separate payment system to process the different cards. Since this can become costly, really denting the profit margin, many simply go with one or two credit card types. Still, it does not mean you should not have an American Express card ready to use.
Some Great Benefits
Aside from the possibility of rewards, AMEX cards offer you great benefits as a customer. It is an excellent option for frequent travelers, as you can get the SkyMiles, if that is your reward of choice, for flying. They offer a way to obtain cash advances, as well as travelers cheques, insurance plans, financial services, and much more. It’s a great option for business credit as well. As an American Express customer, you have access to so many wonderful things. With great rates, exceptional customer services and all this other stuff, it’s definitely a credit card worth having.
Other than the fact that not all merchants accept it, the only other downfalls of AMEX are pretty much the same as most other cards: if you overspend, you’re going to pay a lot, and of course, you have got to have pretty good credit in the first place to even get you hands on one.
That said, if you can get you hand on one, AMEX is right: never leave home without it.
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