Why is Amex percieved "the best"?

[JonStur]

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@enxinas wrote:

When I first moved here in the US about 6 years ago, I always look into Amex as the "best" card to get even though I don't know anything about CCs. Fast forward into today, I know some of the reasons are the 3x CLI, purchase protection, and extended warranty.  But why do regular (peeps who do not know this forum/or credit in general) people percieved Amex as great?

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It's a perception of success..pull up to valet in your Benz, check your Rolex to make sure you're on time for your reservation, pay for your expensive meal with your AMEX..it's all an image thing for those who buy into it.

[Arago]

Amex is considered the best because charge cards tend to be used by people who have high net worth.  You don't need revolving credit because you have large amounts of cash, so you use a charge card instead and receive bonus points that often exceed the annual fee.  Not many other issuers have this kind of customer.

[CreditScholar]

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@HiLine wrote:

Lol just teasing you 

Seriously speaking, Amex used to easily beat other credit card issuers because of their terrific customer service and their tendency to side with consumers in transaction disputes. Membership with Amex used to cost a boatload of money, and therefore membership was considered some sort of privilege. In addition, they had the best reward programs for high-spenders. 

Things have changed lately; Amex is now offering fee-free cards that are associated with lower customer service quality and with rewards that would benefit even the lower spenders. They are becoming more mainstream and less exclusive. Still, they favor customers in transaction disputes, and the rewards are often quite competitive. Add to that the SP CLI policy, and the collection of charge cards that make membership a lot easier to obtain, and there you have Amex as a top credit card issuer. 

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Most people in the general public don't know much about CC products or specific rewards. Amex does however have a reputational advantage which they have built up over decades, and which they're increasingly reliant on as their approval standards have decreased in recent times. However it takes a long time to change perceptions and public opinion about many things, and this is no exception.

[Revelate]

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@CreditScholar wrote:

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@HiLine wrote:

Lol just teasing you 

Seriously speaking, Amex used to easily beat other credit card issuers because of their terrific customer service and their tendency to side with consumers in transaction disputes. Membership with Amex used to cost a boatload of money, and therefore membership was considered some sort of privilege. In addition, they had the best reward programs for high-spenders. 

Things have changed lately; Amex is now offering fee-free cards that are associated with lower customer service quality and with rewards that would benefit even the lower spenders. They are becoming more mainstream and less exclusive. Still, they favor customers in transaction disputes, and the rewards are often quite competitive. Add to that the SP CLI policy, and the collection of charge cards that make membership a lot easier to obtain, and there you have Amex as a top credit card issuer. 

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Most people in the general public don't know much about CC products or specific rewards. Amex does however have a reputational advantage which they have built up over decades, and which they're increasingly reliant on as their approval standards have decreased in recent times. However it takes a long time to change perceptions and public opinion about many things, and this is no exception.

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I think it'll be a long time likely measured in decades, if ever, in changing.  Most people don't care.

I only started really noticing recently, but virtually every restaurant which I consider to be of quality (PF Changs equivalent and up) brings the check in an Amex branded folder, and it's beneath that tier too come to think of it.   It's going to take an awfully long while to displace Amex while that's still in effect I suspect.

[Open123]

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@Revelate wrote:

I think it'll be a long time likely measured in decades, if ever, in changing.  Most people don't care.

I only started really noticing recently, but virtually every restaurant which I consider to be of quality (PF Changs equivalent and up) brings the check in an Amex branded folder, and it's beneath that tier too come to think of it.   It's going to take an awfully long while to displace Amex while that's still in effect I suspect.

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In the States, I don't see this changing regarding the Amex's perceived "prestige."

In the US, Amex acceptance is inescapable for anyone who has spent time at fine restaurants, posh boutiques and fine hotels.  It isn't until recently that Neiman Marcus has accepted Visa or MC.  Some in the hotel/fine dining industries will assume Amex cardmembers will tip more and will often make an extra effort for those whom they know use an Amex.  

Truth is (rightly or wrongly) that in many circles, an Amex card just has certain "je ne sais quoi" other cards lack.

[bribro]

Because great marketing and brand management.

[SuperKirby]

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@Arago wrote:

Amex is considered the best because charge cards tend to be used by people who have high net worth.  You don't need revolving credit because you have large amounts of cash, so you use a charge card instead and receive bonus points that often exceed the annual fee.  Not many other issuers have this kind of customer.

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In fact, Amex racked in the most charges (avg per customer) last year when compared to Visa and MC. I read it somewhere. Someone help me find that article.

[Cageym]

Amex does have good customer service, that's why it's consistently ranked #1 year after year. But it's tiered, like a lot of other companies. So the higher end card you have the better service you'll get, it just makes sense. If you have more than one Amex look at the phone number on the back, they are all different. I have never had any problem with their service but I have noticed that if I call about my BCE I get different service than if I call about my Delta Gold. And Platinum is even better.