Why Amex?

[najaB]

Based on this post in another thread:

Good that it does sleepers, but according to the FAQ it won't be accepting American Express cards which makes it pretty useless for me...

Given the number of places that don't accept Amex what, in this day and age, is the appeal of Amex? Why would anyone prefer to use Amex rather than Visa or Mastercard branded cards?

 

[nlogax]

Based on this post in another thread:

Given the number of places that don't accept Amex what, in this day and age, is the appeal of Amex? Why would anyone prefer to use Amex rather than Visa or Mastercard branded cards?

Avios along with BA 2-for-1 vouchers? Outside of that, no idea.

I'm stuck with a corporate Amex. Thankfully I have a Visa backup for the innumerable times Amex isn't accepted.

 

[jfollows]

It could be worse, I once had a corporate Diners Card (in the UK, yes!). Given that one of its purposes was to pay for meals when travelling for work, it inevitably ended up being called the "non-Diners Card" given how few places accepted it.
The next iteration replaced it with Amex as a corporate card, which was better.
The following iteration replaced a corporate card with one which the holder had to pay the bill and claim the money back, I refused to have one of these but used my own credit card instead.
But I did have a personal Amex card for a while, when I used BA. Once I ditched BA I ditched the card as well since it was generally hard to use anyway.

 

[gg1]

Based on this post in another thread:

Given the number of places that don't accept Amex what, in this day and age, is the appeal of Amex? Why would anyone prefer to use Amex rather than Visa or Mastercard branded cards?

Cashback.

I get 0.5% cashback on all purchases with my Amex card, no fee free Mastercard or Visa can match that (or at least none could last time I checked).

 

[jfollows]

Cashback.

I get 0.5% cashback on all purchases with my Amex card, no fee free Mastercard or Visa can match that (or at least none could last time I checked).

True, I only get 0.25% back on my NatWest Reward Mastercard, although this percentage increases to 1% for supermarket purchases and some other retailers. (The card is free as long as I also have a Reward account with them, which costs £2/month, which is more than recompensed by the 0.25% so it's "free" as far as I'm concerned.)

 

[AlterEgo]

I have an Amex Platinum card, which is strictly speaking a charge card as it must be pain in full every month. I tend to agree that the UK-based benefits can be very limited.

If you travel, especially to North America, Amex is accepted nearly everywhere. I have no pre-set spending limit, it gives me Priority Pass lounge access at airports (I used to pay a few hundred quid for PP a year until I got the Amex), the travel insurance is good, and importantly, Amex are best in class at resolving retailer disputes.

 

[birchesgreen]

I find its rare i can't use my Amex (RED), and if it doesn't i have a Visa and a Mastercard anyway. I tend to use my Amex for foreign currency purchases.

 

[RJ]

For the rewards. Airline and hotel loyalty scheme points. With the right knowledge you can earn mores worth of these each month than wages.

However there are Visa and Mastercard cards that are far more lucrative than Amex cards.

 

[DelayRepay]

I've got an Amex card and apart from a few small shops I've never really had a problem using it. Like others, I have it for the cashback and other benefits. I've got a MasterCard too but the Amex is more generous.

 

[matt]

I've had an Amex just over a year now. I've changed to the free version now. I've got one to collect the rewards points to then convert to Avios or similar. I've had a company credit card which is an Amex, I've rarely had problems as most places accept it these days.

 

[najaB]

I've had a company credit card which is an Amex, I've rarely had problems as most places accept it these days.

It may be widely accepted, but I have never come across anywhere that accepts Amex that doesn't accept Visa/Mastercard but have come across plenty the other way around.

 

[Butts]

It could be worse, I once had a corporate Diners Card (in the UK, yes!). Given that one of its purposes was to pay for meals when travelling for work, it inevitably ended up being called the "non-Diners Card" given how few places accepted it.
The next iteration replaced it with Amex as a corporate card, which was better.
The following iteration replaced a corporate card with one which the holder had to pay the bill and claim the money back, I refused to have one of these but used my own credit card instead.
But I did have a personal Amex card for a while, when I used BA. Once I ditched BA I ditched the card as well since it was generally hard to use anyway.

Does the Diners Club Card still exist I remember them from yonks ago ?

I once was able to get into something special at The Birmingham Motor Show (shows how long ago it was) with an AMEX Card - it may have been the introduction of the Range Rover Sport

 

[najaB]

Does the Diners Club Card still exist I remember them from yonks ago ?

It does. Though they're pretty rare over here, slightly more common in the US.

Edit: Just reading up on it, Diners Club America is basically MasterCard now.

 

[nlogax]

No Amex acceptance at Barrhead station this morning. Didn’t expect that.

 

[Harpers Tate]

I have an Amex Platinum card, which is strictly speaking a charge card as it must be pain in full every month. I tend to agree that the UK-based benefits can be very limited.

If you travel, especially to North America, Amex is accepted nearly everywhere. I have no pre-set spending limit, it gives me Priority Pass lounge access at airports (I used to pay a few hundred quid for PP a year until I got the Amex), the travel insurance is good, and importantly, Amex are best in class at resolving retailer disputes.

Me, too. I find it an excellent product with which I can (Covid aside) easily recoup more than the annual fee despite being "only" a leisure traveller. Annual multi-trip travel insurance, comprehensive insurance for rental cars (of particular relevance in the USA); free breakfast for two at Hilton etc., airport lounges, generous cashback offers and so on. Whether or not the card is actually used. And I do use it wherever I can (with a couple of others as backup) because the points reward (which can become airmiles for various programmes, or simply be spent in lieu of a £ charge) is pretty generous, too.

 

[Cdd89]

I travel a lot and have not managed to see the value in Amex Platinum. The annual fee is huge. There are other cards offering lounge access and travel insurance for a fraction of the price. There are other ways to get hotel status and at higher tiers than offered by Amex. The only benefit I miss is Eurostar lounge access as I don’t spend quite enough for CB. I have no interest in Addison Lee credit or The Times.

For those who see the value, I’d be very interested in their personal pro-rated valuation of each benefit received, as I can only assume they’re ascribing very different numbers to me.

 

[RJ]

For those who see the value, I’d be very interested in their personal pro-rated valuation of each benefit received, as I can only assume they’re ascribing very different numbers to me.

If you can run 6+ figures per annum through one then the rewards can be useful.

 

[AlterEgo]

If you can run 6+ figures per annum through one then the rewards can be useful.

Agreed.

Amex rewards tend to seriously scale up the more you spend. Centurion lounge access is very valuable if you fly through airports that have those. Amex rewards are also much more flexible than most other reward cards and provide better bang for your buck if you divest into more than one or two loyalty programs.

 

[nlogax]

If you can run 6+ figures per annum through one then the rewards can be useful.

I have trouble running five figures through my BA Premium Amex, let alone six. Bought a new car the other week and the dealership wouldn't even accept Amex to pay for the deposit.

These days, outside of occasional BA fares long-haul fares I can't really spend enough to make it worthwhile and I struggle to reach the yearly 10k threshold needed to obtain the 2-for-1 voucher. Maybe that's a good thing!

 

[Cdd89]

If you can run 6+ figures per annum through one then the rewards can be useful.

Unless I’m missing something, the volume of spend does not produce an ascribable value for the Platinum card because the £0 annual fee Amex Rewards Credit Card earns Membership Rewards points at the same rate.

I may be wrong if there are any category earning bonuses on Amex Platinum, like 5x Airfare as with the US equivalent, but I don’t believe there are; with the exception of Amex Offers which are a random crapshoot.

 

[ABB125]

If you can run 6+ figures per annum through one then the rewards can be useful.

How many "ordinary" people can routinely spend six-figure sums each year? The only way I can see that happening is if you regularly buy expensive things (eg: long-haul flights) for a large group of people, and then get reimbursed.

 

[Busaholic]

If you can run 6+ figures per annum through one then the rewards can be useful.

If you can run such figures through you don't need rewards.

 

[AlterEgo]

If you can run such figures through you don't need rewards.

Nobody *needs* rewards, though.

 

[Busaholic]

Nobody *needs* rewards, though.

Just sometimes seems that the wealthiest think their want or craving is a 'need' which they are entitled to because of their position in society. Their delusion knows no limits.

 

[RJ]

If you can run such figures through you don't need rewards.

It’s a perverse world - the more you spend, the more companies want to throw at you for free or at a heavy discount.

To be fair you could be running a business that turns over that much and be accruing rewards on your supplies. If you can run spend through rewards cards then you can easily rack up thousands of pounds worth of points or cashback a month if you know what you are doing.

How many "ordinary" people can routinely spend six-figure sums each year? The only way I can see that happening is if you regularly buy expensive things (eg: long-haul flights) for a large group of people, and then get reimbursed.

That's one way to do it!

 

[Techniquest]

Nobody *needs* rewards, though.

Agreed. One day modern society will learn the difference between want and need, although even with the upheaval of modern day life that doesn't seem to be happening. Not that I'm any sort of saint for that sort of thing, I still use 'need' instead of 'want' too often for my own liking!

I got offered an Amex ages ago, and despite not really expecting to be approved I was and I love having one. I try to be careful with my use of it, although that's not always the case. Most months I make sure my balance is cleared on the day the statement comes through, this month that has failed to happen due to unexpected circumstances but it will be paid in full well before the due date. The fact I haven't done so on statement issue date is bugging me something fierce!

The primary aim for mine was to use it for travel, and it was deemed especially handy to have as I had (well, have) plans to travel to the other side of the world. Signing up, I had a decent Avios bonus offer, but sadly I didn't get a chance to spend the required amount to claim it. Still, 1 Avios per £1 spent is handy and while it is a long and slow process I'm building my Avios every month.

The 'rewards' and offers I get aren't of any interest to me whatsoever, and I don't care about them. Cashback schemes, not interested. My other card provider wasted trees and their time posting an offer about balance transfers and cashback schemes. Absolutely not interested, and they haven't picked up on the fact I don't use their card. They're almost as bad as PayPal regularly spamming my emails with balance transfer offers and trying to persuade me to take up their credit scheme.

So to answer the original question, I have an Amex because I like it. I had wanted one for years. I have a different piece of plastic, from another provider, but I don't really care for using that one. It remains a relic from the past, without that one I'd have never been able to go to New York or Sydney so it stays as a memento of that era. Good grief, I've just realised how long ago New York was, and Sydney is not far off a significant amount of time ago either.

Why stick with Amex over a more widely accepted card? Well, I can use it where I want to normally, so why not? I can't get Avios from anyone else card wise, so I stick with Amex!

 

[RJ]

Nobody *needs* rewards, though.

True, but on the flip side, you can save real money by paying for things with alternative currencies like rewards that can be generated out of thin air. Like with the right use of an Amex card you can generate £400 worth of Nectar points a month which should zero the cash cost of groceries for people who can make it work.

That said, probably not to be recommended as the economy would collapse if everyone did the same to serious levels.

 

[Harpers Tate]

It all depends on one's perspective. One might always argue that "I wouldn't have done that if I had to pay for it so it's worthless" and therefore ascribe zero value to a particular benefit. And one might know of another method to get any particular benefit. But to put some numbers to it:

1: (For reasons that aren't relevant to this) I currently pay GBP125pa for a very specific annual multi-trip Travel Insurance for the two of us and will continue to do so. Amex Platinum has this included (up to age 70).
2: Visit the USA; hire a car for two weeks. Cost differential between comprehensive insurance and minimal insurance - varies but say £200. Amex Platinum has this insurance.
3: How much might one spend airside in the airport in each direction on refreshments (incl. alcohol if any) for one's party? Lets put a figure of GBP10pp each way. (YMMV) = £40. (More if you change planes en route and use the intermediate airport similarly). Amex gets you into various lounges where you pay nothing. (Price of the Priority Pass on its own is £339 for unlimited use).
4: If you stay at Hilton properties, you get free breakfast daily, or in the USA an allowance towards same. Value say around £10. Two weeks x 2 people = £280.
This is for one trip: £125 + £200 + £40 + £280 = £645 which = the card's annual fee + £70. Accepted; if one were only making one trip pa you wouldn't buy annual multi-trip insurance. If you paid £55 then you broke even, exactly. Make two trips and.......
I haven't given any value to things like room upgrades, since they are never promised. But if you get one, then you have a "better" trip for zero cost. And so on.

And - until 2 Nov (be quick!) there is an enhanced welcome points offer for new sign-ups. With a referral code from another member you get 65000 points (you have to use the card to a minimum spend in 3 months to qualify) which alone are immediately worth at least £325.

 

[RJ]

Unless I’m missing something, the volume of spend does not produce an ascribable value for the Platinum card because the £0 annual fee Amex Rewards Credit Card earns Membership Rewards points at the same rate.

I may be wrong if there are any category earning bonuses on Amex Platinum, like 5x Airfare as with the US equivalent, but I don’t believe there are; with the exception of Amex Offers which are a random crapshoot.

There’s more to the cards than just the points - some people can get great value out of the other perks offered as part of the package.

 

[Sm5]

Based on this post in another thread:

Given the number of places that don't accept Amex what, in this day and age, is the appeal of Amex? Why would anyone prefer to use Amex rather than Visa or Mastercard branded cards?

The clue is in the name “American” Express.

its a card just about every professional working American has, and most corporations of any size use. Its a card for globe trotting Americans, that citizens in other countries can take advantage of.

Places that accept Amex globally tend to benefit, from additional US customer business, and US travellers benefit its services especially as Amex has global offices and a network worldwide.

I once was in Bangkok, Amex called me, asked if I had been to a restaurant in Houston 4 hours ago, which, obviously I wasnt, and the card account laughingly knew it too. He said the fraud had been detected and a new card was already available to collect, or courier to my hotel, it was delivered to my hotel before I went to bed that night, they even spoke with my hotel to transfer the authorisation, and the airlines for my tickets for check in (“enter your card used for booking” etc).

If you travel beyond the UK, you can rely on Amex to keep you moving, even if in your own country it may seem less beneficial than other cards. Its value to UK customers, who only use it in the UK is more limited, but go abroad it will help you in trouble more than your other cards will. They also err on your side first in a dispute. They have much more back up and advice options than other cards, for example I once used it for a suitable Business Restaurant reservations in Manila, (not knowing the place that well), and making the booking and arranging your car from your hotel..

Amex is good for lounge access, flight, car and hotel upgrades and certain rental car insurance cover too.

No British bank can offer that kind of service, maybe HSBC, tbh only a few US banks can match it for that matter (Citi, JPMC, Morgans perhaps..) . Lose your card abroad, your stuffed for a while if you didnt go prepared.

neither Visa nor Mastercard are issuing agents with global branches to offer that kind of service either.

What I say though, is Amex Travellers Cheques are next to useless, especially in the US. Last tried using them 20 years ago, and they were already useless then.