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Why do so many people have American Express cards?

Established Contributor

Why do so many people have American Express cards?

I see those as traveling cards mainly. I wouldn't even get their charge cards, they all seem to have fees. And I think the only card I'd possibly ever be interested in one day would be Blue Cash Everyday. But then again it might never be of use to me. 

Message 1 of 63
62 REPLIES
Super Contributor

Re: Why do so many people have American Express cards?


killer_queen229 wrote:

I see those as traveling cards mainly. I wouldn't even get their charge cards, they all seem to have fees. And I think the only card I'd possibly ever be interested in one day would be Blue Cash Everyday. But then again it might never be of use to me. 


Well it all depends on the individual. If their products don't seem to be attractive to you, then you probably have no need for it anyways. I personally like Amex for their level of service, especially when it comes to claims.

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 63
Established Contributor

Re: Why do so many people have American Express cards?

Good answer. Smiley Happy 

Message 3 of 63
Frequent Contributor

Re: Why do so many people have American Express cards?

IMO the fees come with the territory. I love my platinum, but Its a glorified debit card really (and thats exactly how I use it) , with perks, someone there to help me and fight for me should the need arise. I would never NOT have an amex in my wallet. But take my last vehicle purchase. I put 25k down on it, Instead of writing a check, I put it on my platinum card. Money that I was going to spend anyway, just by running it through the peice of plastic, just earned me a nice chunk of points to use towards getting stuff. Then when I decided to pay the car off, I ran 9k a month through the card and got the car paid off. Again money that I was going to spend anyway, except this way, it worked a whole lot harder for me. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I B of A Cash Rewards 30K I Barclays Arrival+ World E 29k I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I B of A Merrill Lynch 16,800 I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 4 of 63
Super Contributor

Re: Why do so many people have American Express cards?

Amex has some great features 

Warranty

Backdating 

3X CLI

Fraud Protection which I think is unmatched 

The other day I made 2 online purchases out of my spending pattern.

They jumped into action sent me an email and 3 calls to verify I made the purchases.

While 3 calls maybe a lot I'll take that for my financial security

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 63
Valued Contributor

Re: Why do so many people have American Express cards?

The BCE (Blue Cash Everyday) has no fees and is far from being a travel card, unless you consider extra reward points for gas being a travel card. The Costco True Earnings Amex also has no fee and isn't a travel card.

 

If you don't like Amex then don't get an Amex card, but they have more variety than you think.

 

Message 6 of 63
Contributor

Re: Why do so many people have American Express cards?

I have no first hand knowledge of this, but an executive of a previous employer of mine told me that they don't accept AMEX from customers, because AMEX doesn't pay their bills.  Is this because of the high level of customer service they give to cardholders who file disputes?

Starting FAKO Score: 08/16/13 - EX: 702 EQ: 694 TU: 702
Starting FICO Score: 08/19/13 - EX: ??? EQ: 700 TU: ???
Lender Pulls: 02/28/14 - EX: 736 EQ: 716 TU: 748
Closed on 04/25/2014 - Loving it!
Message 7 of 63
Valued Contributor

Re: Why do so many people have American Express cards?

6.5% of issued cards are Amex vs 7.2% for Discover, MC 27%, Visa 36% and other 23.3%.

 

Message 8 of 63
New Contributor

Re: Why do so many people have American Express cards?

@tony yes Amex takes the side of the customer by default and puts the burden of proof on the merchant. Also their interchange fees are the highest of any network and if the customer is issued a refund by the merchant Amex keeps the interchange fee. This is why a lot of merchants don't take Amex.
Message 9 of 63
Frequent Contributor

Re: Why do so many people have American Express cards?

'CauseAMEX is amazing, duh!
As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000



Message 10 of 63