Do you know which of the American Express creditcards is best for you?
Various types American Express cards are flooding the consumer market today and it is often difficult to decide which credit card to own.
Of course, the very first factor to consider is your purpose for getting a credit card. Based on your purpose, you would readily know which of the American Express cards to obtain after reviewing the offers.
However, if what you want is only to own a credit card; then you should learn how to make your own review of the different types in order to select the best.
You can get information for your review from the website of American Express, news reports, reviews of other people and comments from people who have used the particular credit cards.
Actually, your review will start with knowing the different types or categories of American Express cards.
The Different American Express Cards
In making a review on the various American Express Creditcards, it is important not only to know things about credit cards. It is also beneficial to know about the different types of American Express cards.
Based on card type, the different American Express cards are:
Charge Cards – The balance for these cards are paid in full each month.
Credit Cards – With these cards, cardholders may carry a balance.
Prepaid Cards – These cards are reloadable anytime.
The various types of American Express Cards may also be based on features as follows:
Membership Rewards– Cardholders get rewards under the Rewards Program that are exclusively for card members only.
Statement Credit – The rewards are redeemable through a statement credit with this type of card.
No Annual Fee – Cardholders enjoy the privilege of not paying annual fees with this type of card.
Airline Miles – Using this type of card, card owners are able to collect airline miles for free flights.
Airport Club Access – Access to different airport lounges is provided to card owners of this card type.
Travel Benefits – Cardholders can enjoy free travels and other benefits through this type of card.
Hotel Rewards – Free hotel stays are provided with this type of card.
Restaurant Rewards – Card members can enjoy earning points for restaurant rewards through these cards.
Gasoline and Supermarket Rewards – Every purchase on gasoline and supermarket can earn points redeemable for gift cards, free hotel stays, and more.
Pre-Sale Tickets – Cardholders can enjoy free tickets for concerts, shows, and more through these cards.
There are also cards wherein American Express partners with other companies such as with:
Costco – Partnering with Costco, cardholders can earn cash back points on their purchases at Costco and other eligible purchases.
Delta SkyMiles – Flying with Delta, cardholders can earn miles for Award Travel.
Hilton HHonors – Your purchases using these cards can provide you free travel and hotel stays at many locations worldwide.
JetBlue – Purchases using these cards can provide cardholders rewards, access to entertainment, remarkable travels, and shopping.
Mercedes-Benz – Mercedes-Benz enthusiasts can enjoy most with these cards. Eligible Mercedes-Benz can earn as much as five times points.
Starwood – Cardholders can enjoy free flights and hotel stays at any of the Starwood locations worldwide.
Criteria for Reviewing American Express Creditcards
After learning about the different types of American Express Creditcards, you must now learn the different criteria for your evaluation.
First of all, make sure that all your information about the credit cards are correct.
APRs are very important in your evaluation because it will determine how much you have to pay in case you miss a payment. The lower the APR is better for you.
Consider the grace period provided in order for you to have more time to prepare the payment you need to make.
Annual fees are also critical. If the fee is waived, it is much better. However, if there is an annual fee; check if the benefits you can get can offset such fee.
Check also the minimum finance charge rates. Definitely, there will come a time that you are not able to pay the balance in full. Therefore, make sure that the minimum finance charges are reasonable.
Always remember to read the fine prints before choosing the credit card that you think is best for you.