American Express offers different types of credit cards for a variety of purposes, giving them one of the most diverse lineups of credit card offerings of any financial institution. Within each type of credit card, American Express also generally offers several different versions of the card, each with their own advantages and disadvantages for different kinds of users.
That way you’re able to customize the kind of credit card you use to better fit your exact needs.
The result is a wide cards library that can be a little difficult to grasp when you’re first getting one of their cards. That huge library is also why it’s critical to research American Express cards instead of signing up for the first one that’s offered to you. There are pretty good odds that the first card on offer isn’t actually the best card for your situation.
Don’t worry though, this section will help you understand the different kinds of American Express cards. Here are The Smart Investor Select’s picks for the top Amex credit cards:
Card | Rewards | Bonus | Annual Fee | Best For |
| 1-6%
6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit
and U.S. gas stations, 1% cash back on other purchases
| $250
$250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
| $95 ($0 intro for the first year) | Value For Money |
|---|---|---|---|---|---|
| 1X – 2X
2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
| 10,000 points
10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
| $0 | Family Spending | |
| 1.5%
unlimited 1.5 percent cash back on all purchases
| $200
$200 statement credit for spending $2,000 in the first 6 months of account opening
| $0 | Simplicity | |
| 1X – 2X
2X miles on delta purchases, at restaurants worldwide (including take-out and delivery in the U.S) and at U.S. supermarkets, and 1x miles on all other eligible purchases
| 40,000 Miles
40,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 6 months
| $99, $0 intro first year | Airline | |
| 1X – 4X
4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
| 60,000 points
60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership
| $250 | Premium Rewards | |
| 1X – 5X
5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
| 80,000 points
80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership
| $695 | Premium Travel Rewards | |
| 3X – 7X
7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
| 100,000 points
100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership
| $0 | Hotel Rewards |
What Is The Amex Reward Program?
American Express also offers a Membership Reward Program that functions very much like their points-based reward system. Like the points system, you’ll slowly accrue membership rewards by using your cards for purchases over time. So long as you have your American Express card account those points won’t expire.
The Membership Reward program doesn’t have an upper limit on points either. You can continue earning points however long you use your card, and there is no maximum amount.
Membership Rewards points also have variable value depending on how you redeem them. You’ll have access to the same kinds of rewards as regular reward points, including using rewards for online checkout, turning them into travel points, and redeeming points for gift cards and other rewards.
At most retailers, 10,000 points can be redeemed for about $70 worth of goods, though they are worth more or less in other contexts. You’ll typically be able to get better value from Gift Cards than direct purchases though, up to $100 per 10,000 points.
Redeeming your points can be done either automatically online (with certain retailers) or by going into the rewards screen when you’re logged in one your American Express account.
Flights and other kinds of travel spending can earn rewards value similar to Gift Cards, which often makes travel rewards one of the best ways to redeem your Express Rewards program.
One of the biggest advantages of the American Express Rewards system is that your rewards account can have multiple cards attached. If you have two different cards on the account, then your rewards rate will be based on the higher rewards card. You’ll earn just as many points on both cards as you would earn with the higher rewards card. That can make it a good idea to have several different credit card offers from American Express.
Blue Cash Preferred® Card from American Express
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
The Blue Cash Preferred® Card from American Express offers an outstanding 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases , making it a suitable choice for commuters and a 2.70% fee on foreign transactions. Terms Apply.
However, warehouse clubs and superstores are not included. The American Blue Cash Preferred Card charges an annual fee of $95 ($0 intro for the first year), but you can justify this if you reach the higher cashback threshold in U.S. supermarkets. This makes the card suitable for individuals that buy or purchase their groceries at traditional supermarkets. New cardmembers can earn up to $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- Rewards Plan: 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
- APR: 19.24% - 29.99% Variable
- Annual Fee: $95 ($0 intro for the first year)
- Balance Transfer Fee: $5 or 3%, whichever is greater
- Foreign Transaction Fee: 2.70%
- Welcome Bonus: $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
- 0% APR Introductory Rate Months: 12 months on purchases and balance transfers
* Terms Apply
- Welcome Bonus
- Cash Back Rewards
- 0% APR Intro
- Redeeming Options
- Extended Warranty on Purchases
- $95 Annual Fee
- Short Introductory Rates
- Balance Transfer Fee
- Foreign Transaction Fee
- Minimum Redemption Amounts
- Is there a limit to rewards/cash back? You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1%.
- Can I get car rental insurance? how? Yes, you will get this insurance if you refuse the car rental company’s insurance coverage and you pay for the entire cost of the rental with this card.
- Does it have a cash-back/point rewards limit? You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1%. Otherwise, there are no restrictions.
- Do you need a proof of income? No transparent income requirements or proof of income requests.
- Does the rewards points expire? They do not expire once you keep your account open and meet a few basic conditions.
- Can I get pre-approved? Yes, you can get pre-approval.
- What is the initial credit limit? It will be at least $1,000 and usually greater.
- How do I redeem cash back? The rewards will be credited to you in the form of a statement credit.
The Amex EveryDay® Credit Card
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
The Amex EveryDay® Credit Card is a very good option among rewards cards for individuals that rank up spending at the grocery checkout and gas pump. The Everyday card offers 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases . Terms Apply.
It also offers a nice welcome bonus - 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months. Lastly, you'll enjoy 0% intro for 15 months on purchases , so if you plan a big purchase - it's another reason to consider this card.
- APR: 17.49% - 28.49% variable
- Annual fee: $0
- Balance Transfer Fee: N/A
- Foreign Transaction Fee: 2.7%
- Rewards Plan: 2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases . Terms Apply.
- Welcome Bonus: 10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
- 0% APR Introductory Rate period: 15 months on purchases
- Welcome Bonus
- Rewards Plan
- No Annual Fee
- 0% APR Introductory
- No Balance Transfer Fee
- Foreign Transaction Fee
- Variations in Reward Points’ Worth
- Cap on higher cashback rewards
- Not as Widely Accepted as Other Cards
- Is there a limit to cash back? You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1%.
- Can I get car rental insurance with Amex Everyday Card? Yes, you will get this insurance if you refuse the car rental company’s insurance coverage and you pay for the entire cost of the rental with this card.
- Can I get pre-approved? Yes, you can get pre-approval.
- What is the initial credit limit? It will be at least $1,000 and usually greater.
- How do I redeem cash back? The rewards will be credited to you in the form of a statement credit.
- What purchases don't earn cash back? All purchases currently will earn some level of cashback with this card.
- Should You Move to Amex Everyday Card? If you are looking for a good all-round card that has some solid rewards and no annual fee.
- Why did Amex deny me? What to Do Next? You might not have met some requirements. You can ask the customer support team where your application failed and seek a remedy to this situation.
- How to maximize rewards on Amex Everyday Card? Take advantage of the welcome bonus and make sure that you know what selected stores are eligible for the premium cashback rates.
- Top reasons NOT to get the Everyday Card? You spend enough on the likes of groceries that mean you will benefit from the Preferred card more than the Everyday card.
American Express Cash Magnet®
Rates & Fees, Terms Apply
American Express Cash Magnet®
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
The American Express Cash Magnet® Card is a simple cash back credit card that offers you unlimited 1.5 percent cash back on all purchases (Terms Apply). There is an attractive welcome bonus of $200 statement credit for spending $2,000 in the first 6 months of account opening and you can enjoy 0% intro APR for 15 months on purchases .
Compared to other credit cards, the American Express Cash Magnet Card does not offer any significantly special reward you can’t find elsewhere, but its good intro APR, modest fees and clear-cut rewards system make it beneficial to anyone looking to earn rewards without having to track spending categories. If you own another rewards credit card, it’s a good idea to use this one on regular purchases that normally would not attract bonuses there.
- APR: 18.49% - 29.49% variable
- Annual fee: $0
- Balance Transfer Fee: N/A
- Foreign Transaction Fee: 2.7%
- Rewards Plan: unlimited 1.5 percent cash back on all purchases
- Welcome Bonus: $200 statement credit for spending $2,000 in the first 6 months of account opening
- 0% APR Introductory Rate period: 15 months on purchases
- Welcome Bonus
- Cash Back Rewards
- Car Rental Insurance
- No Annual Fee
- 0% Intro APR
- Limited Redemption Options
- Foreign Transaction Fee
- There are Better Rewards Cards
- Flexible Redemption
Delta SkyMiles® Gold American Express Card
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
TheDelta SkyMiles® Gold American Express Card, as the name suggests, is a niche travel rewards card that will appeal most to people who frequently fly with Delta. A neat welcome bonus, potential annual rewards, an ongoing miles rewards system, priority boarding, and the opportunity to pay with earned miles when you fly Delta are some reasons you may want to consider this card. If you fly Delta, this card probably ticks many of the right boxes. Terms Apply.
The miles earned through regular purchases with this card are modest for the most part, but if you make in-flight purchases, you get up to 20% back in form of statement credits. The rewards on this card are laser-targeted towards a specific audience. Therefore, it goes without saying that if you don’t fly often or don’t patronize Delta much, there is little to enjoy from this card. You probably won’t even earn enough rewards to offset the annual fee.
- APR: 20.99%-29.99% Variable
- Annual fee: $99, $0 intro first year
- Balance Transfer Fee: N/A
- Foreign Transaction Fee: $0
- Rewards Plan: 2X miles on delta purchases, at restaurants worldwide (including take-out and delivery in the U.S) and at U.S. supermarkets, and 1x miles on all other eligible purchases (Terms Apply)
- Welcome Bonus: 40,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 6 months
- 0% APR Introductory Rate period: N/A
- Welcome Bonus (Terms Apply)
- Attractive rewards for Delta flyers
- No Foreign Transaction Fees
- Free Checked Bag
- Priority Boarding
- Annual Fee
- Limited Acceptance
- No Path to Elite Status
- Niche Card
American Express® Gold Card
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
The American Express® Gold Card is a credit account that offers a myriad of benefits to clients. First-timers stand a chance to earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership. In terms of rewards, you can earn 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases.
Other premium benefits include dedicated service team, up to $120 in Uber Cash (enrollment required), preferred seating at sporting and cultural events, signature perks at upscale hotels, fraud Protection and baggage insurance for up to $500 for checked baggage and $1,250 for carry on.
- APR: 21.24% - 29.24% Variable
- Annual fee: $250
- Balance Transfer Fee: N/a
- Foreign Transaction Fee: None
- Rewards Plan: 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
- Welcome Bonus: 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership
- 0% APR Introductory Rate period: N/A
- Welcome Bonus + Premium Point Rewards Rate
- No Foreign Transaction Fees
- Special Gold Status Perks
- $250 Annual Fee
- High Requirements
- Is there a limit to rewards? There is a cap on getting the premium rate of cashback on certain types of purchases.
- Can I get car rental insurance with Amex Gold Card? Yes, you will get it automatically once you decline the car insurance from the rental company and you pay the full rental charge using this card.
- What are Amex Gold Card income requirements? There is no out and out income requirement outlined by Amex when it comes to the Gold card.
- Does card Amex Gold points expire? They do not have an expiration date.
- How do I redeem cash back on Amex? There is a points-based system. You can redeem the points for a variety of rewards that are showcased on the Amex website. These include statement credit, gift cards, paying for certain services etc.
- What purchases don't earn rewards? The minimum rate is 1 point for every $1 spent.
- Should You Move to Amex Gold Card? If you need a versatile card that covers a wide range of purchases, with a main focus on travel-related purchases and perks.
- Why did Amex deny me? You might not have met one of the requirements. You can ask the customer support team if there is something you can do to change this eventuality. Otherwise, you can look for an alternative card.
- How to maximize rewards on Amex Gold Card? Use it for a versatile range of purchases, make sure you are aware of the different perks and credit that you get with this card.
- Top Reasons NOT to get the Gold Card? If you do not travel a lot.
- Can I get pre-approved? Yes, you can get pre-approval.
- What is the initial credit limit? The credit limit will usually be at least $5,000.
The Platinum Card® from American Express
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
Rates & Fees, Terms Apply
The Platinum Card® from American Express is one of the best luxury cards available, offering extra ordinary benefits especially when it comes to travel. The card offers 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases. Terms Apply.
Also, you can enjoy welcome bonus of 80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership, as well as a lot of extra premium perks such as dedicated service team, up to $200 in Uber Cash (enrollment required), preferred seating at sporting and cultural events, signature perks at upscale hotels, fraud Protection and baggage insurance for up to $500 for checked baggage and $1,250 for carry on. Lastly, this card is one of the top credit cards with rental car insurance.
- Up to $200 hotel credit per year when you book select prepaid hotels using your Platinum card via American Express Travel. Enrollment Required.
- Up to $240 or $20 per month in Digital Entertainment Credit when you pay for one or more The New York Times, Peacock, SiriusXM or Audible products with your card. Enrollment Required.
- Up to $155 in Walmart+ credit. When you use your card to pay for your monthly Walmart+ membership, you’ll get the full cost back every month. Enrollment Required.
- Up to $200 in Airline fee credit per year when you charge incidental travel fees from selected airlines on your card. Enrollment Required.
- Up to $300 back every year for eligible Equinox memberships when you enroll and pay using your card.
- Up to $189 back per year when you use your card to pay for a CLEAR® membership. Enrollment Required.
- Welcome Bonus + Premium Point Rewards Rate (Terms Apply)
- No Foreign Transaction Fees
- Special Premium Status Perks
- High Annual Fee
- High Requirements
- Why did Amex Platinum Card deny me? What to Do Next? You might not have met one of the requirements. You can ask the customer support team if there is something you can do to change this eventuality. Otherwise, you can look for an alternative card.
- How hard is it to get Amex Platinum Card? You need to meet the credit score and income requirements, which are higher than a lot of other cards.
- What is the initial credit limit? The minimum credit limit you will get with this card will be $5,000.
- How do I redeem cash back? There is a points-based system. You can redeem the points for a variety of rewards that are showcased on the Amex website. These include statement credit, gift cards, paying for certain services etc.
- What purchases don't earn cash back? Every type of purchase through this card will earn cashback points.
- Should You Move to Amex Platinum Card? It is a good fit if you spend a lot of money on travel-related expenses and want to avail yourself of some great travel perks.
Hilton Honors American Express Card
Reward details
Current Offer
Credit Rating
Annual Fee
0% Intro
APR
See Rates & fees, Terms Apply
The Hilton Honors American Express Card is one of the most prestigious in the country. New cardholders earn 100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership (Terms Apply).
Aside from the excellent rewards rate, cardholders won't have to worry about paying an annual fee because there is none. Hilton Honors cardholders receive travel benefits such as no international transaction fees, car rental insurance coverage, and a global assist option for usage in an emergency in a foreign country.
- Rewards Plan: 7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
- APR: 20.99%-29.99% Variable
- Annual fee: $0
- Balance Transfer Fee: n/a
- Foreign Transaction Fee: $0
- Welcome Bonus:100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership
- 0% APR Introductory Rate: N/A
- Welcome Bonus & Rewards
- No Annual Fee
- No Foreign Transaction Fees
- Loyalty Program
- Too Niche
- Low Redeeming Rate
- High APR
Can I redeem for flights with airline partners?
Hilton Honors allows swapping points for miles with almost all of the major domestic airlines and some international carriers including British Airways and Air Canada. However, the transfer ration is typically 10:1. This means you’ll need 10,000 Hilton Honors points to get 1,000 miles.
Do the travel reward points expire?
Hilton Honors points do not actually expire, but if your account is inactive for 24 months, any points balance will be forfeited.
Can I get pre approved?
American Express does allow pre approval for the Hilton Honors card. This takes only 30 seconds and you’ll need to supply some basic information. You can then make an informed decision without impacting your credit.
What is the initial credit limit?
The card limit for the Hilton Honors American Express is $1,000 to $20,000, based on your score and other factors.
Should you move to the Hilton Honors Card?
If you are brand loyal to a particular hotel chain, getting a rewards card dedicated to this hotel chain is a good idea. You can not only earn free stays, but you can also enjoy other perks. So, if you love Hilton hotels, these cards could be a good option for you.
How to Compare Amex Credit Cards
About American Express
American Express is one of those financial institutions that’s been around seemingly forever, at least when compared to the length of US history. The company was originally founded in 1850 and has maintained a commitment to excellence in their products the whole time they’ve been in business.
American Express didn’t start as a financial institution, they were a freight forwarding company first. It wasn’t until just before the 20th century that American Express introduced their first financial management products.
Today, the company is one of the United State’s foremost credit card companies and is the world’s largest global payments network.
It's no wonder they can offer such a wide range of highly sought after credit cards for all levels of the consumer market.
American Express Credit Card Types
Here are the basic types of cards you can find on American Express website:
1. Standard Credit Cards
Standard credit cards have a pre-set balance limit. You can use them anywhere and for any transaction up to the posted limit (through fraud prevention services may sometimes lock the card for safety reasons if your purchasing habits change suddenly). These cards have no interest if you pay off the balance every month, but will change some interest on any balance carried from month to month.
Interest rates vary depending on the credit card and your own credit score and credit history. Standard credit cards (and most other credit cards) require that you make a monthly payment of at least 1-3% of the total balance on the card.
2. Rewards Credit Cards
Rewards credit cards have similar features and functionality as regular credit cards, but they also have some reward system for using the card. Typically rewards are cashback, travel miles, or redeemable points.
Almost all American Express credit cards offer some level of a rewards program. Their travel cards offer rewards in miles, but American Express also has standard and business credit cards that offer cashback or points-based rewards, depending on the card.
The exact level of rewards depends in part on your credit score and which cards you can qualify for, as well as your willingness to pay annual fees and other high-cost cards that offer higher value rewards programs.
3. Charge Cards
A charge card is a little different from a typical credit card. They generally don’t have credit limits, but you are also typically required to pay the full balance on the card each month. You can’t let balances carry over from month to month.
American Express currently doesn’t offer any charge cards. However, they do offer prepaid cards, which serve a similar purpose.
4. Business Credit Cards
Business credit cards are only to be used for business expenses and can be used by businesses, business owners, and some employees. These cards should never be used for personal expenses, even by the business owner.
These cards may also have different rewards structures that are more focused on providing business benefits.
American Express has a wide selection of business cards, including but not limited to:
- The Business Platinum Card® from American Express
- American Express® Business Gold Card
- The Plum Card® from American Express
- American Express Green Business Rewards Card
- The Blue Business® Plus Credit Card from American Express
- The Lowes Business Rewards Card
These cards are all tuned to offer different kinds of rewards and benefits to the business. The Platinum Business card is a good option for larger more profitable enterprises, while the Lowes Business Rewards card might be a good option for construction businesses and contractors.
5. Prepaid Cards
Prepaid cards aren’t credit cards in the technical sense. These cards are paid for in advance, and can only be used while there is a balance on the card. However, they can be helpful for monthly budgeting, gift-giving, and limiting certain kinds of spending, and you can generally add more money onto pre-paid cards as long as you keep the card’s account open.
American Express offers three different versions of their charge card, the basic American Express Serve, the American Express Serve with Free Reloads, and the American Express Serve Cashback charge card. All three versions offer free ATM withdrawal services, an easy online portal to check your budget and reload the cards, and are direct deposit compatible.
6. Student Credit Cards
Typically these cards are for college students who are learning how to use a credit card and who are starting to build their personal credit for the first time. They tend to have lower fees but may not offer as many benefits as other kinds of personal credit cards.
American Express currently doesn’t offer any specialty College Student cards, but their Amex Everyday card can be a good student card alternative, especially if you go for a low starting limit.
Reputation & Customer Satisfaction
838/1000 on J.D Power: American Express ranks in the 1st place in 2020 research, got 838 out of 1000 available points on J.D. Power credit card satisfaction survey. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers. The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards, and more.
The Different Levels of American Express Cards
It's also important to remember that there are usually several credit cards of each type, and there may be different rewards and benefits levels to each card as well. More premium cards typically come with higher annual fees and bigger penalties for missed payments, but they also offer better rewards and other cardholder perks that can be worth the extra cost.
Knowing which card is right for your financial situation and needs depends on which cards you qualify for and the value of the card’s benefits vs the cost of its interest rates and fees. If you aren’t sure a banker or financial adviser can usually help you choose.
Right now the platinum level is the top level of any American Express credit card, including the Platinum Card, and the Business Platinum Card. Gold is the next level down, and all other cards are usually at the same level of exclusivity, though there is a wide range of benefits to different cards.
Credit Score For Amex Cards
There isn’t an exact credit score that will guarantee you can get any particular American Express credit card. After all, your credit history and current income levels also influence what cards you’re eligible for. However, being within a certain score range is an important part of getting approved.
Here are the general credit score ranges you need to know:
- 300-579 Poor
- 580-669 Fair
- 670-739 Good
- 740-799 Very Good
- 800-850 Excellent
Those ranges vary a little bit from rating agency to rating agency and also vary slightly depending on the credit scorer, but these will at least put you in the right ballpark for your own credit rating.
Now that you know what the ranges are, here's the credit range American Express looks for in their credit cardholders.
In this chart using Experian data, you can see the average FICO score has increased significantly over the last decade.
Generally, all American Express cards require good or better credit. For some cards, like anything Platinum rated, it’s better to have a Very Good or Excellent credit score, but it’s possible for people in the Good credit range to get a card.
If your credit is only in the Fair range you may need to opt for a Secured credit card. American Express doesn’t give many people with Poor credit a credit card unless there is other evidence of them being a safe borrower in their credit history.
How Do Amex Cashback Offers Work?
Cashback is a great way to get a small percentage of your spending back over time, but the rewards don’t just pay out automatically after every purchase. You’ll have to wait to get cashback rewards until you’ve accumulated a certain amount to help minimize the number of transactions on your account and make it easier to keep track of your rewards.
Cashback rebates a small percentage of the cost of qualifying charges on your credit card. Most cashback offers range from 1-5%, and American Express is no different. Your cards will accumulate a small amount of cash back on most purchases. Some cards offer a higher cashback rate for certain purchase types, like groceries or gas. It’s also common for there to be a higher cashback tier that changes every quarter, that way you can get better rewards some of the time.
You’ll typically have to customize how you want cashback to pay out in your account details. The amount will slowly accrue on your statement, and once you have a certain amount (it varies from card to card) you’ll be able to withdraw your cashback rewards.
Some people like to let cashback rewards build up over time instead of redeeming them all at once. It can be another way to help save for a big purchase or an expensive vacation.
Some retailers may also let you use cashback rewards directly on their websites by clicking the apply cashback rewards button at checkout.
How Does Amex Points Rewards Work?
Some American Express credit cards earn reward points instead of offering a cashback reward system. The points are also earned by paying for transactions with your credit card, though the points you earn can vary from transaction to transaction. Sometimes there may be specials that offer a temporary points boost for certain kinds of transactions.
Fortunately, American Express points do not expire as long as you keep the account open. That means you can wait to redeem your rewards points for as long as you like, including saving up for much larger rewards.
However, it’s important to note that the value of your American Express rewards points can vary quite a bit depending on how you redeem those points. For the most part, American Express points are worth somewhere between .5-1 cent per point. Redeeming for travel rewards can increase the value slightly, however, and you’ll usually get a 1:1 or 1:2 point to travel point ratio.
It’s also possible to redeem some points rewards directly with retailers. Right now American Express works with 16 different retailers that accept their points rewards, but you’ll have to select points rewards at checkout. Your points are never automatically applied to a purchase.
American Express Redemption Options
There are a lot of different ways you can redeem rewards offers from American Express. The best place to learn about your rewards options are from your account screen. You can click on the rewards page to see what rewards are already ready and can look at the higher points rewards to make goals for the future.
There are several different rewards types with American Express:
Using Points At Checkout
American Express has a partnership with several different companies that let you use your rewards points directly during checkout when you’re paying with an American Express card.
Here are a few of the eligible retailers:
- Amazon
- Best Buy
- Grubhub
- Newegg
- Paypal
- Staples
- Walmart
This isn’t a complete list, there are several other retailers that also take American Express points. American Express may also be able to add other companies to their retailer list in the future, so you should make sure you check the list occasionally.
Redeem for Gift Cards
American Express also works with many other retailers and companies to provide a wide variety of gift card options. You can choose from hundreds of different companies to redeem your points, but the value of your points does vary between different businesses.
There’s a wide list of hotels and restaurant gift cards, along with many retail stores. You’ll also have the option for paying for an American Express gift card that can be used anywhere. However, the American Express gift cards usually have some of the lowest value for the points.
Covering Card Charges
You can also use some of your points to cover charges on your account, including card fees. That can help reduce the cost of your cards.
Travel Bookings and Upgrades
Travel is another high-value area for your points. You can use it directly for bookings and other travel expenses, or to pay for upgrade charges on a previously booked reservation.
Transfer Points to Frequent Traveler Programs
You don’t necessarily have to redeem your rewards points directly with American Express either. You can always transfer points to a separate frequent travelers’ program. The exact rate and value of the transfer varies depending on the program you choose.
How to Maximize American Express Rewards?
Making the most of your American Express rewards is one of the most important things to consider if you’re looking at one of their higher fees / higher rewards cards. Since there are several cards that have an annual fee and other higher cost items included, you'll likely need to maximize your rewards to make those cards worth owning.
In general, it's best to save your points when it comes to American Express. High-point items also tend to have a higher real dollar value and a higher point to dollar ratio. It can be tempting to cash out early on rewards and buy small offer items regularly, but it doesn’t usually pay off in the end.
Gift cards and travel are two of the most cost-efficient ways to use your American Express rewards points since you tend to get fairly high dollar value on those items. There’s also a much wider selection of gift cards than there are companies that accept American Express rewards points directly.
Paying with points at checkout can also be tempting since it lowers the cost of your bill, but it's generally not as valuable as using points in the rewards shop. Even if you're buying a gift card from the same retailer with your points, you'll usually get a better point for point value redeeming in the store.
It can also be tempting to buy American Express gift cards that let you use the money anywhere, or gift it to a friend. Unfortunately, those deals have some of the lowest point value in the store, and will quickly eat through points. It’s better to buy retailer-specific gift cards for your favorite restaurants, stores, and hotels than to buy an American Express gift card.
What are the Other Benefits of Having an American Express Cards?
American Express Cards come with several other benefits for cardholders, though the exact benefits do vary slightly for different kinds of cards and accounts. Here are some of the side benefits of having an American Express credit card.
One of the biggest advantages for American Express cards is that they don’t have any foreign transaction fees. That means you can use the card anywhere it’s accepted, and you don’t have to pay more than the cost of the transaction.
Some American Express cards, like the American Express® Gold Card, also give cardholders access to presale tickets for certain events. Some events also offer preferred seating to American Express cardholders.
Some restaurants, including The Cheesecake Factory, Grubhub, and Shake Shack are also eligible for a $10 statement credit when you pay with an American Express. The statement credit can only be paid out once a month, so you can earn up to $120 in restaurant credits from your American Express credit card.
How Many American Express Credit Cards Can You Have At One Time?
Since having multiple American Express cards can multiply the benefits of each card the company has to place limits on the number of cards each individual can own. Currently, a single account holder is eligible for up to 4 American Express credit cards. Of course, your individual eligibility may vary depending on your credit score and credit history.
In some cases, you may also be eligible for additional charge cards on top of your 4 credit cards. You're not limited in the types of cards you can own, but since you can only have up to 4 separate cards, you’ll need to prioritize which kinds of cards best meet your financial needs.
How Do I Cancel an American Express Credit Card?
Individual credit cards are relatively simple to cancel if you need to close your American Express account. However, you can’t close your accounts online, you’ll need to call the customer service number on the back of your credit card.
It’s important to call that specific number because there are different customer service teams for the different kinds of cards.
American Express also offers a collect number for callers outside the US in case you need to close the account while you’re traveling.
Business accounts are a little different. Unless you’re running the business yourself, you’ll likely need to contact your Program Administrator to make changes to the account.
- All information about The Amex EveryDay® Credit Card, American Express Cash Magnet®, has been collected independently by The Smart Investor. The Amex EveryDay® Credit Card, American Express Cash Magnet® is no longer available through The Smart Investor.
- Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
