Types Of American Express Credit Cards
- 11 July 2019 | 921 Views | By Mint2Save
In the field of plastic money, credit card has become a prominent option for people. It has existed alongside debit card but started to be the preference of people quite recently. A credit card allows the person to buy or pay for anything without having any balance in their account. A bill is generated every month by the credit card company which the user is supposed to pay off. And then he can enjoy the same benefit again.
A number of companies give the facility of credit cards depending upon the financial status of the people. They check a number of things before issuing it. One of the major things which determine whether the person is eligible for getting a credit card is, his ability to pay the bill. When the company is satisfied with that it issues the credit card without any further ado.
Some of the renowned companies dealing with providing credit cards are HSBC, YES Bank, Axis Bank, American Expres, etc. Each of these has its own set of benefits which can be availed after becoming a user. This includes some additional discounts or cash back while shopping on different e-commerce sites and even shops. And also a number of privileges at a variety of selected places.
The emergence of American Express
In the credit card business, American Express, or Amex, turned up as one of the most popular and successful companies. It is famous by the name Amex. The company originated from New York City but made its impact all around the world. It has a base of loyal customers globally which is increasing at a steady rate.
The popularity of American Express lies on the fact that it provides the users added advantages while they are traveling, dining, shopping, etc. The reward points or cash back can also come in handy for the people. It is all because of these types of gains that people prefer to go for American Express credit cards when they think of having one.
Types of American Express Credit Cards
To provide the best experience to the customers American Express has a variety of credit cards to offer. Each having different perks to facilitate a completely different type of experience, whether it be charge cards or credit cards. Types of credit cards which American Express provides are:
- American Express Membership Rewards Credit Card
- Along with the card, the users get 4,000 Bonus Membership Rewards Points as a welcome gift. For the first year, the users will be charged Rs.1,000 plus applicable taxes as the fee. And Rs.4,500 exclusive of taxes second year onwards.
- The fee of Rs. 4500 will be completely waived off. This will happen only when total expenditure on Amex Credit Card in the immediately preceding year will be Rs.1,50,000 or more. And it will be waived off by 50% if the expenditure remains in the bracket of Rs.90,000 and Rs. 1,49,999
- The users can earn a number of reward points easily just by using their Amex credit card. The users will get 1 point for every Rs.50 they spend through the credit card except for the transactions on fuel, insurance, utilities, and cash transactions. They are also going to get 1,000 points for using the card 4 times in a month for a transaction of Rs.1000 or more.
- They are eligible for getting a variety of branded accessories by redeeming the points which they earn. Also, the points can be used to get vouchers at different stores for making their shopping experience pocket-friendly.
- They also get the option of paying the bill fully or partially or converting it into EMI and paying over a period of time. Other benefits include 24×7 customer support, zero lost card liability and emergency card replacement. Contactless payment is also a perk which can be enjoyed with it. Under this, they don’t have to punch in the PIN if the amount of transaction is within Rs.2,000. And if it exceeds this limit then it needs to be authenticated through second-factor authentication.
- American Express Platinum Reserve Credit Card
- Users start their journey with American Express with 11,000 bonus points. Points can be earned as in the case of other types of Amex credit cards. Fee for the first year will be Rs.5,000 plus taxes which will rise to Rs.10,000 plus taxes from second year onwards.
- With Platinum Reserve Credit Card, the users get a variety of more benefits. They can pay for the flights through the points. The users can use them in more than 500 offers across dining, travel, card charges, etc. Movie vouchers or shopping vouchers worth Rs.6,000 every year is a sure benefit for the users. The users also get complimentary access to lounges including domestic and American Express lounge during flight.
- If high brand names attract the people, then the privileges through Amex at Taj Hotels Palaces Resorts Safaris are waiting for them. They can enjoy the health and wellness benefits at Max Healthcare to nourish and rejuvenate users mind, body, and soul. If the user is an art lover, then complimentary access to the leading golf courses across India will surely excite the users.
- Zero lost card liability is yet another benefit to save the users from any illegal or fraudulent activity which takes place through the user’s card. If the user acts in good faith and informs American Express about the unauthorized use of card within 3 days. Then use liability will be limited to Rs.1,000.
- Purchase protection is a privilege which users enjoy with American Express Platinum Reserve Credit Card. Under this, if within the span of 60 days from purchase an item is stolen or gets damaged due to a natural cause. They will get a refund for it.
- American Express Platinum Travel Credit Card
- The users are welcomed with 5,000 Milestone Bonus Membership Reward Points. This can be redeemed in the form of travel vouchers worth Rs.4,000. They earn 1 point for every Rs.50 paid by them through the card keeping in mind the exclusions.
- The fee for the first year is Rs.3,500 without any taxes. And from the second year onwards it goes up to Rs.5,000 without including taxes. This card is known for the travel vouchers which users are going to get while using it. The vouchers are bound to make their travel experiences much better in every possible way. The more the users spend the better the experience vouchers users get.
- They will get travel vouchers worth more than Rs.7,700 if the amount of transaction in a year adds up to be Rs.1,90,000. And if they spend Rs.4,00,000 in a year, they get additional travel vouchers worth Rs.11,800. The users enjoy 4 complimentary visits per year, one in each quarter, to airport lounges. They will also get a Taj experience voucher of Rs.10,000 from Taj Hotels Palaces Resorts Safaris. The users can also get two Supplementary cards from American without paying any additional amount for them.
- Jet Airways American Express Platinum Credit Card
- Welcome gift of 10,000 Bonus JPMiles. Also, one way complimentary Jet Airways ticket on which base fare is waived. This is applicable on domestic flights and on the first charge. Fees increase from Rs.5000 plus taxes in the first year to Rs.10,000 plus taxes in the second year. Other than the normal benefits, users can enjoy differentiated check in with excess of 5Kg baggage weight on Jet Airways flights within India.
- The users also get to enjoy platinum privileges like limited liability for card loss, supplementary cards, etc. Also, the users get a 5% discount on base fare for revenue ticket booking made on the official website of Jet Airways.
- American Express PAYBACK Credit Card
- The annual fee is Rs.750 excluding tax in the initial year, and then Rs.1,500 plus taxes from next year onwards. Shopping on Flipkart becomes more amazing with the vouchers that the users earn by spending through this card. PAYBACK points can be put to use with PAYBACK partner brands.
- As much as people want to live their life on debit cards, the benefits of credit cards have increased over the years. The amount of monetary as well as non-monetary advantages which the credit cards give to people is very attractive. It enables them to experience the luxuries of life at very reasonable prices. And as a result of this, a number of people have switched to using credit cards in daily life.
- Digitization has made the transactions cashless and has given a great boost to the usage of credit cards in the country. There are a number of companies which are providing credit cards to the people. But American Express has made its standing in the market known to its competitors. Whether it be the quality of their service or the privileges which they have in store for the customers. Everything is quite recommendable and worth trying.