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Frequent Contributor
enxinas
Posts: 269
Registered: ‎06-08-2013
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Why is Amex percieved "the best"?

[ Edited ]

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?

TU: 719 (Discover: 12/14)     EX: 718 (WF)      EQ: 755 (myFICO)
I am a gardener til 7/1/14 or beyond

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
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Re: Why is Amex percieved "the best" card to get?

For travel rewards (not cash), only Chase comes close to what Amex offers.  

 

Of the top 3 travel rewards programs, Amex has two of them.

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HiLine
Posts: 2,949
Registered: ‎10-19-2012
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Re: Why is Amex percieved "the best" card to get?

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
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Re: Why is Amex percieved "the best" card to get?


HiLine wrote:

American Express is not a card ...


LOL...semantics not withstanding, I assumed OP meant "issuer."

Frequent Contributor
enxinas
Posts: 269
Registered: ‎06-08-2013
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Re: Why is Amex percieved "the best" card to get?

lol I just noticed I opt out the word "company"

Thanks!

TU: 719 (Discover: 12/14)     EX: 718 (WF)      EQ: 755 (myFICO)
I am a gardener til 7/1/14 or beyond

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HiLine
Posts: 2,949
Registered: ‎10-19-2012
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Re: Why is Amex percieved "the best" card to get?

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. 

Senior Contributor
jsucool76
Posts: 3,599
Registered: ‎12-11-2011
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Re: Why is Amex percieved "the best" card to get?

It's perceived as the best, because people think it is the best. The average person has no idea about any other rewards systems, fees, APRs (in the case of revolvers that is) and stuff like that. All they know is, amex has been a sign of someone who is "doing well" and whether or not amex has the best rewards systems or any of that, until the average consumer starts learning about credit, and the other options available, amex will always be "the best."

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HiLine
Posts: 2,949
Registered: ‎10-19-2012
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Re: Why is Amex percieved "the best" card to get?

Mind you, most people still believe that Amex cards are for business only. 

Frequent Contributor
enxinas
Posts: 269
Registered: ‎06-08-2013
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Re: Why is Amex percieved "the best" card to get?

[ Edited ]

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. 


Lol i know :smileytongue:

That said, I called Amex three days ago, and I got an untrained CSR (most likely outsourced to a diff country)... I asked if they could change my due date to 28th of the month, and the CSR didn't know what she was doing.. I ended up not changing it.. Oh and there's a lot of background voice and noice from their end, and she was having a hard understanding me.  This is my first call to Amex, so maybe I'm just unlucky lol.

 

OT: I purchased some clothes where I work at, and they were in disbelief that I have Amex to the point that they checked my ID and card... I'm like really? You guys don't trust me that I have an Amex....

TU: 719 (Discover: 12/14)     EX: 718 (WF)      EQ: 755 (myFICO)
I am a gardener til 7/1/14 or beyond

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
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Re: Why is Amex percieved "the best" card to get?

Anytime ppl said something about their American Express CC, I was like oh they must have  good credit and rich...welll it's just me.......lol


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