American Express Cards
Jump on the Express train

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We live in a consumer world in which credit appears to be king. We apply for credit cards in our millions and make them work for us. We transfer balances and shop around for cash reward cards to earn a little back on our spending. However, there are so many options when it comes to choosing a credit card and it can be difficult to figure out where to begin. Mastercard and Visa present new branded cards every year with updated offers and gimmicks to encourage people to apply. There is another option though. By choosing American Express, you can eliminate the confusion of trying to decipher new deals and stick to one brand that does not date.

American Express has many advantages for consumers over other credit cards and is definitely worth considering before choosing a credit card. Below are just some of the reasons why:

Choice Of Cards – You can choose the American Express card that suits your personal needs. Visa and Mastercard have the regular, gold or platinum choices available to consumers, but the choice of which one you have is usually up to the company rather than you. With American Express, you can choose to apply for the Blue, Blue Cash, Red, Nectar, Gold, Platinum, One, or Green cards. You then get accepted or rejected for the card of your choice without being pigeonholed into having a different one.

Balance Transfers – Every consumer American Express card accepts balance transfers, with the exception of the Preferred Rewards option. Balance transfers provide an easy way to pay off existing debts and/or move them so they are all in the one place and easier to keep track of. American Express offers an excellent option for balance transfers. Most Visa cards and Mastercards offer an introductory rate of 0% for anywhere between six and twelve months and then revert to a much higher APR, usually in line with the regular APR of the card. American Express, however, offers a much better deal. Any balance transfer to the Blue Cash card is at 0% for the first six months but then reverts to 4.99%. It stays at that level for the life of the balance transfer, thus incurring much lower interest than any other card. The Blue card, on the other hand, allows for 0% balance transfers for up to fifteen months and then reverts to 4.99% APR. If you are looking to transfer balances and your credit is either good or excellent, then this is the best option around.

Annual Fees – Very few American Express cards have an annual fee which, considering the rewards on offer, is surprising. None of the Blue cards have an annual fee, which is line with other major credit cards. Therefore, you are losing nothing by applying for an American Express card but get much better returns.

APR – American Express APRs are competitive. The level of APR for American Express cards are set at between 12% and 15%, depending on the type of card you apply for. Most cards are set at 16.9%, but do go as high as 29.9% for the Vanquis Visa 34.9% for the Capital One Classic Visa. This is a lot easier on your wallet, as is the interest free period of up to 56 days for new purchases.

Rewards – American Express offers the highest cash rewards programme around. Most cards have introductory rates of 1% but revert to around 0.5% after six months. For example, Egg offers anywhere between 1% and 1.5% for the first six months depending on the offer in force at the time. It then reverts to 0.8%. American Express may offer an introductory rate from time to time but the general and persistent level of cash reward is 1%. The Platinum American Express card even offers 3% cash back for the first three months and 1.5% after that. If you shop at Sainsbury’s, you may even want to take advantage of the Nectar Amex card. Every purchase earns Nectar points which translate as money off your shopping when you have accrued enough points. The Rewards scheme is certainly one of the main reasons why so many people are consistently loyal to their Amex card.

All American Express cards have the standard purchase protection insurance to ensure that your purchases are secure and do not makes charges when the card is used abroad. In short, there are many advantages of taking out an American Express card, especially in comparison to other cards. American Express works hard for the consumer and so it is well worth applying.