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Why is Amex percieved "the best"?

Established Contributor

Why is Amex percieved "the best"?

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?

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (2/16) TU: 690 EX: 684 EQ: 690
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Message 1 of 28
27 REPLIES
Super Contributor

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.

Message 2 of 28
Blogger

Re: Why is Amex percieved "the best" card to get?

Message 3 of 28
Super Contributor

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."

Message 4 of 28
Established Contributor

Re: Why is Amex percieved "the best" card to get?

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

Thanks!

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (2/16) TU: 690 EX: 684 EQ: 690
Goal Score: (7/18) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Gardening until July 2018!

Message 5 of 28
Blogger

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. 

Message 6 of 28
Super Contributor

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."

Message 7 of 28
Blogger

Re: Why is Amex percieved "the best" card to get?

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

Message 8 of 28
Established Contributor

Re: Why is Amex percieved "the best" card to get?


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 Smiley Tongue

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....

Starting Score: (1/15)TU: 690 EX: 690 EQ: 711
Current Score: (2/16) TU: 690 EX: 684 EQ: 690
Goal Score: (7/18) 800+ for all three bureaus

Take the myFICO Fitness Challenge
Gardening until July 2018!

Message 9 of 28
Valued Contributor

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


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 10 of 28