Historically, American Express charged higher fees than their competitors, making their cards less attractive to merchants. … As if that weren’t enough, American Express also developed a
reputation for siding more frequently with the customer than with the business
when it came to chargebacks and other disputes.
Why does American Express have a bad reputation?
Historically, American Express charged higher fees than their competitors, making their cards less attractive to merchants. … As if that weren’t enough, American Express also developed a
reputation for siding more frequently with the customer than with the business
when it came to chargebacks and other disputes.
What are the disadvantages of American Express card?
The main disadvantage of an American Express card is
the cost
– not to you, but to the businesses it processes the payments for. Unlike Visa or Mastercard, American Express operates its own network, which means it charges vendors an additional fee to use the card, much like some other credit cards.
Is American Express Good or bad?
American Express credit cards are among the most
prestigious
on the market, thanks to top-notch terms and an air of exclusivity. All American Express credit card offers require at least good credit – if not excellent credit outright – for approval.
Why is Amex so hard to get?
It’s harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex’s credit card offers
require good or excellent credit for approval
. … And some of Amex’s premium cards for big-spenders, which can be relatively difficult to get, have high fees.
Has American Express Been Hacked?
A group of malicious hackers has leaked data from around 10,000 American Express cardholders in
Mexico
on a dark web hacking forum; the information is available to any interested party at no cost.
Is American Express dying?
Naturally, many people will wonder if American Express is a dying brand or a poor investment. Actually,
no
, American Express is still a great company and a pretty good investment. In fact, the numbers show us that Amex could still be a great value play.
What is so special about American Express?
An American Express card, also called an “Amex” card, can offer a variety of perks, including
rewards points, cash back, and travel perks
. … American Express is one of the few companies that issues cards and has a network to process card payments. Visa and Mastercard have processing networks but don’t issue cards.
Is it worth getting American Express card?
For the right cardholder,
the Amex Gold is absolutely worth it
. The card offers the highest combined rewards rate you can find on both U.S. supermarket and restaurant purchases – making it ideal for foodies. Plus, it comes with several travel protections and credits that can help offset its high annual fee.
What benefits do I get with American Express?
- Bonus rewards on dining, supermarkets and certain travel.
- A sizable welcome offer.
- Flexible reward redemptions.
- $120 Dining credit.
- Up to $120 a year in Uber cash.
- $100 resort credit.
- Presale and preferred event tickets.
- No foreign transaction fees.
Why do stores not like American Express?
Why can’t every store accept American Express cards? The answer is simple:
stores want more money in their pockets
. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover.
How many AMEX points equal a dollar?
You will get
one point for each dollar
charged for an eligible purchase on your Platinum Card from American Express. You will get 4 additional points (for a total of 5 points) for each dollar spent on eligible air and hotel purchases.
Which is the hardest credit card to get?
What is the hardest credit card to get?
The Centurion® Card from American Express
, sometimes referred to as the Black Card, may be the hardest credit card to get because you need a special invitation from Amex to apply and there’s a high financial bar to getting the card.
Does Amex do a hard pull?
Yes
, the Amex Cash Magnet Card will do a hard pull on your credit report when evaluating your application. The Amex Cash Magnet Card requires a credit score of at least 700. That means applicants need good credit or better to get approved.
Is Amex Platinum prestigious?
The Amex Platinum is
one of the most prestigious travel credit cards you can own
. The Amex Platinum metal credit card is not only thick, but it comes with tremendous travel benefits and a nice welcome bonus.
