How are AmEx credit cards different and how to get one?

At certain times, you may have noticed some vendors refusing to accept American Express cards. Let’s look into what makes AmEx different from other credit cards.

American Express credit cards are different from Visa and Mastercard in a fundamental way: American Express issues it’s own cards, unlike Visa and Mastercard.

  • Visa & Mastercard process the payments made on their network, but the cards are issued by partner banks. This is why the cards will have a logo of the issuing bank and Visa or Mastercard.
  • American Express processes payments, as well as issues it’s own credit cards. Due to this reason, American Express charges a slightly higher fee from merchants (store/business owner) who accept American Express credit cards. This leads to some merchants opting out of accepting American Express Cards all together.

Yet, American Express cards provide fantastic benefits and rewards, especially for travel. These are some of the popular cards issued in India: 

 

American Express Membership Rewards Credit Card


* 1000 bonus membership rewards points for using the card 4 times on transactions above Rs. 1000 every month.

* First-year fee: Rs. 1,000 plus taxes. Second year onwards: Rs. 4,500 plus taxes.

* 1 membership reward point earned for every Rs. 50 spent. (Except fuel, Insurance, Utilities, and cash transactions).

* Eligibility: Rs. 6 Lakhs annual income. (Salaried or Self employed).

Best For: Redeeming rewards for statement credit, Amazon vouchers & other gifts.

(Apply Here)


American Express Platinum Travel Credit Card


* Travel vouchers up to Rs. 19,500 in a year. (Based on spending)

* First-year fee: Rs. 3,500 plus taxes. Second year onwards: Rs. 5,000 plus taxes.

* 4 complimentary lounge visits per year to select lounges.

* 1 membership reward point earned for every Rs. 50 spent. (Except fuel, insurance, utilities, and cash transactions).

* Eligibility: Rs. 6 Lakhs annual income. (Salaried or Self employed).

Best For: All round travel (Flight & Hotel Vouchers).

(Apply Here)

Jet Airways American Express Platinum Credit Card


* 10,000 Bonus JP Miles on enrolment and one way complimentary Jet Airways base fare waived off on the first swipe.

* First year: Rs. 5,000 plus taxes. Second year onwards: Rs. 10,000 plus taxes.

* Earn 8 JP Miles for every Rs. 150 spent. (Except fuel, insurance, utilities, and cash transactions).

* Eligibility: Rs. 6 Lakhs annual income. (Salaried or Self employed).

Best For: Faster free flights on Jet Airways.

(Apply Here)

 

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