topic Re: Why do so many people have American Express cards? in Credit Cards

Why do so many people have American Express cards?

killer_queen229 — Fri, 15 Nov 2013 00:11:20 GMT

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.

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

Anonymous — Fri, 15 Nov 2013 00:13:17 GMT

@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.

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

killer_queen229 — Fri, 15 Nov 2013 00:14:23 GMT

Good answer.

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

awp317 — Fri, 15 Nov 2013 00:51:37 GMT

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.

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

myjourney — Fri, 15 Nov 2013 01:57:49 GMT

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

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

Gunnar419 — Fri, 15 Nov 2013 02:33:44 GMT

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.

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

tony46231 — Fri, 15 Nov 2013 02:43:02 GMT

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?

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

vanillabean — Fri, 15 Nov 2013 02:46:54 GMT

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

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

Anonymous — Fri, 15 Nov 2013 02:50:25 GMT

@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.

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

Anonymous — Fri, 15 Nov 2013 03:16:03 GMT

'CauseAMEX is amazing, duh!

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

Shogun — Fri, 15 Nov 2013 03:20:53 GMT

I've always experienced top tier CS with them.

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

chwebb1 — Fri, 15 Nov 2013 04:36:08 GMT

I have my American Express because of the benefits that come along with it, such as extended warranty, purchase protection, the level of Customer Service I get from them when I call, and of course, I love the cash back program on my BCE. I'll likely upgrade it to BCP at some point, though.

To be fair, many of these benefits also exist on my Discover card. Although Discover is significantly more stingy with CLs. Some of these benefits are also available on my Citi Dividend card as well.

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

Anonymous — Fri, 15 Nov 2013 06:23:05 GMT

@chwebb1 wrote:
I have my American Express because of the benefits that come along with it, such as extended warranty, purchase protection, the level of Customer Service I get from them when I call, and of course, I love the cash back program on my BCE. I'll likely upgrade it to BCP at some point, though.

To be fair, many of these benefits also exist on my Discover card. Although Discover is significantly more stingy with CLs. Some of these benefits are also available on my Citi Dividend card as well.

Many cards (especially Visa Sig and MC World) have these benefits, at least in words. Some people experience (although not me) that it is often much more hassle, sometimes to the point that you give up, to get payouts from the Visa and MCs (lots of forms to fill in, followed by questions and requests for more proof) whereas with Amex it is usually much easier. Exceptions both ways, but that seems to be the common view, FWIW.

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

rlx01 — Fri, 15 Nov 2013 06:45:00 GMT

Customer service, protection, warranty, etc. AMEX is unmatched, IMHO.

(The CSP is a better travel card if you're travelling outside the US. The PRG is better for actually booking things in the US. I use my SPG for all non-bonus category spend since SPG points are worth more than UR or MR points.)

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

takeshi74 — Fri, 15 Nov 2013 13:39:08 GMT

@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.

They're not all travel cards and they don't all have fees. AmEx cardholders don't have them all for the exact same reason as AmEx cardholders aren't all identical. Either the given card fits their needs, they want it for image or other possible reasons.

As always, selecting a card (even among AmEx cards) is a matter of finding the card that fits the individual. I have the BCP for its rewards -- was using it for gas but it's mostly groceries these days. I have the TE mainly for backdating but there's no fee on it with Costco membership. Don't rely solely on broad generalizations such as "AmEx is for travel". Look at the specific benefits and features of each card to determine if the specific card is a good fit for you.

Why would you be interested in the BCE if it's of no use to you?

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

rlx01 — Fri, 15 Nov 2013 22:21:26 GMT

"AMEX for travel" makes little sense outside the US anyway, unless you have the Plat (due to 2.7% FTF).

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

FutureBillionaire — Sat, 16 Nov 2013 15:04:44 GMT

@Anonymous wrote:
@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.

Why does it make sense to pay such a high annual fee in the name of good customer service? There are plenty of companies that offer good service with fewer fees and better rewards. The Amex marketing machine continues to amaze me.

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

FutureBillionaire — Sat, 16 Nov 2013 15:07:37 GMT

@myjourney wrote:
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

Discover and Bank of America routinely call me about purchases outside of my spending pattern. Discover will text me and let me reply back. I don't even have to talk on the phone. Plus, I don't pay any fee to Discover.

Other cards offer warranties. But, how often do you use the warranty? Are you getting value or are they selling you features that you most often won't use?

Backdating is the only perk that is substantial that you can't get with another company. But, it is only helpful when applying for credit cards. It's not going to be helpful for mortgage purchases.

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

DomoNomo — Sat, 16 Nov 2013 15:25:58 GMT

...because it's American Express!!!

Customer Services

3xcli

Backdating

are me reasoning.

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

odd_dog — Sat, 16 Nov 2013 15:52:01 GMT

@FutureBillionaire wrote:
@Anonymous wrote:
@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.

Why does it make sense to pay such a high annual fee in the name of good customer service? There are plenty of companies that offer good service with fewer fees and better rewards. The Amex marketing machine continues to amaze me.

What high annual fees? Granted SOME AMEX cards have fees but a lot DON'T the "blue" series of cards have a NO AF attached as do some of their hotel cards...but lets look at the fees on the Platinum (which has the largest fee $450 a year....you get a $200 automatic credit when you charge to your favorite (signed up) air line...so IF you fly and can use this for seat upgrades, food, movies, drinks, luggage fees and in some cases gift cards that brings the fee down to $250 a year....THEN there is the Membership Rewards that lets you transfer points 1:1 and sometimes bonus points for transferring it becomes NOT so bad a fee...again IF those things are important to you....the "free" cards still give nice cash back or really good travel points (sky). Protection plan is good, like Citi and some others...it really is whether you like that company or not. The customer service is LEGENDARY and seriously is some of the best in the business, I also applaud Chase and Discover...they also provide great customer service...I have been with Amex for over 30 years and can tell you they will MOVE mountains when you ask for something, they really do appreciate your business and show it....Chase is a close second with that and when things go wrong it is great to have a "partner" to help you and that is what American Express becomes when you are a member for a long time...now that does not mean much to those that "churn" cards just for points or bonuses and I see why they may have a bad word for ANY credit card company that gives them a "hassle" - it's all in the "perspective" of the "posters" here on the forum. To the OP good luck with finding a card that works for you. I just go to the websites and read about the card I am interested in then Google the card for reviews and then come here and ask for opinions. Hope some of this helped!