American Express credit cards are very unique payment instruments, as they are targeted towards exclusive clients and are associated with multiple benefits in addition to offering a line of credit.
In the following article, we want to review the best way to apply for an American Express card if you are in the United States. Below, we detail the elements to be explained.
About American Express
American Express is an organization that specializes in providing global financing services to individuals and various banking institutions worldwide.
Originally founded in the United States, American Express has successfully expanded its services to all continents, not only in credit card issuance but also in various corporate services.
Today, it offers a wide range of financial products, aiming to capture different markets with financing needs on a global scale.
American Express Financial Products in the United States
American Express is a financial conglomerate that has successfully diversified its products, allowing it to reach a wide range of clients. However, its strength lies in credit cards.
These cards come in numerous versions, designed for various consumer profiles. Nevertheless, they retain their exclusivity by targeting specific clientèle.
American Express also offers exclusive corporate services for large companies, in addition to providing high-yield savings accounts and lines of credit.
American Express Credit Cards
American Express United States offers 17 types of credit cards, classified into three categories based on the rewards they offer to the customer and credit background.
- Travel cards, aimed at customers who frequently travel and hence require benefits associated with this practice. Some of these include Platinum and Delta Skymiles.
- Cash Back cards, if you are looking for a payment tool that provides credit return benefits for your expenditures, like the Blue Cash Preferred Card and the Blue Cash Everyday Card.
- Reward cards, if you are interested in earning reward points for your expenditures, such as the Basic American Express, Gold, and Amex Everyday cards.
- Business cards, designed for the corporate sector, like the Business Platinum and PlumCard.
However, despite being categorized to offer different benefits to the cardholder, they all have one thing in common, which is that they were designed to meet the financing needs of an exclusive market.
Features of American Express Credit Cards
Despite being credit cards with various benefits aiming to meet the needs of different consumer profiles, they have similar defining characteristics.
- They are credit cards that you can apply for online.
- Your credit limit supports your purchases both inside and outside the United States.
- You can earn redeemable points, which you can later exchange for various products and services, thanks to the Membership Rewards Program.
- You can enjoy discounts or offers at different establishments inside and outside the country.
However, the strength of each version of this card lies in the different benefits each offers, allowing the cardholder to enhance their usage according to their consumer profile.
How to Apply for an American Express Credit Card in the United States?
American Express has a significant advantage in this country, as you won't have to invest time in visiting bank branches, but you can apply to any of these 100% online.
- Go to the American Express website and on the main screen, view the categorization sections for credit cards.
- Select one of the three options to display the types of cards associated with your spending profile.
- Click on your preferred credit card and review the features and benefits of each one.
- Select the Apply Now button and follow the on-screen instructions.
- Enter your personal and financial information.
- Check the box to accept the terms and conditions and click on the “Continue with accepting terms” button.
- Finally, upload the documents requested by the platform and select the “Apply now” button.
From this point on, American Express will evaluate your profile to assess whether or not you meet the eligibility criteria stipulated, in order to grant the card you have applied for.
Options to Pay My American Express Credit Card
American Express not only facilitates getting their credit cards but also provides different alternatives to repay the billing amount conveniently.
You can make your payment at the counters of any bank, through the American Express App, and they even offer an app called Autopay.
Autopay acts as a link between your account and credit card, automatically making the agreed payment, preventing you from falling behind.
Eligibility Criteria to Apply for an American Express Credit Card
Each version of this credit card requires meeting specific requirements, depending on its exclusivity. However, the minimum eligibility criteria for all versions are as follows.
- Be at least 18 years old at the time of application
- Have a justifiable source of income.
- Be the holder of a bank account with a financial institution located in the United States.
- Be a permanent resident within the United States.
- Not be on any debtor list.
Additionally, your credit record in handling similar financial products must be positive; otherwise, you may risk your application being denied.
Requirements to Apply for an American Express Credit Card in the USA
Providing accurate information during the credit card application process is crucial as the institution relies on it to verify your details. Some of the requirements include:
- Identification document, credential, or passport.
- Proof of employment specifying your job tenure, gross monthly, and annual income.
- Document confirming your residency within the United States.
Although submitting physical documents is not mandatory during the application process, it is important to have these documents on hand in case they are requested.
American Express Credit Card Rates
Each credit card applies a different percentage factor, corresponding to the interest associated with paying the debt in installments. The percentages for the following options are detailed below.
- For the Basic and Platinum versions of the American Express card, the interest rate ranges between 20.99% and 28.99% for purchases. For cash withdrawals, the rate is 29.99%.
- The Blue Cash Preferred Credit Card applies an interest rate between 18.99% and 28.99%.
- For the Express Gold Credit Card, the interest rate ranges from 19.24% to 27.24%.
- The Marriott Bonvoy Business card applies an interest rate between 20.74% and 29.74%.
However, several of these options exempt you from interest payments during the initial months of use, especially if the card provides a high credit limit.
Commissions related to American Express Credit Cards
In addition to covering the interest payments associated with the client's specific purchases, you will be responsible for paying the commissions related to the transactions made with this card.
- Annual fee cost, which depends on the type of credit card you choose. The fee ranges between $125 and $150.
- When making cash advances or ATM withdrawals, you will need to pay a fee of $10 or 5% of the total transaction amount.
In case of late payment or delays in the repayment process, a penalty fee of $40 will apply, in addition to the late payment interest associated with the debt.
American Express Benefits Programs
We all know that American Express is an organization that, in addition to providing financing through its credit cards, offers a myriad of benefits associated with these tools.
One of these benefits is the cashback program, where you can receive a percentage of your purchases back. This feature is exclusively available for Cash Back credit cards.
Another benefit is the credit refund through accumulable points, known as Membership Reward, allowing you to redeem these assets for products or services such as airline tickets, accommodations, and more.
About Membership Rewards
Membership Rewards is another rewards program by American Express, designed to reward customers who make purchases using their cards by giving them a points allocation for each transaction.
The number of points you receive depends on the type of card you have applied for, with a minimum of 4 points for restaurant purchases and 3 points for flight purchases.
Benefits of Applying for American Express Credit Cards
There are multiple benefits associated with each version of this credit card; however, we want to highlight the elements that best define the advantages of these.
- They are credit tools with international support.
- You can apply to different credit rebate programs for purchases, either in cash or points.
- You have a catalog of options to choose the one that best suits your consumer profile.
- You can apply for discounts associated with thousands of establishments worldwide.
- It is a tool that also works for cash withdrawals at any type of ATM.
- All cards come with insurance policies to protect your purchases.
In addition, American Express provides you with all the facilities both to obtain their credit cards and to repay the amount, preventing you from falling into arrears.
Disadvantages of Applying to American Express Credit Cards
It is important not only to emphasize the benefits of these credit cards but also the elements that could put them at a disadvantage when compared to similar products.
- The basic version of these cards does not allow you to take advantage of the Membership Rewards program.
- They have an associated annual fee that increases the overall cost.
- To be approved for the card, you need to have a high source of income, as they are targeted towards an exclusive audience.
However, it is an excellent option if you are a customer looking to apply for a tool with immediate approval and international support, and you can also do so online.
American Express Contact Information United States
If you want to learn more about American Express credit cards or any financial product, you can visit the main headquarters located in New York City, United States.
Furthermore, you can contact the customer service of this corporation through the online form available on the website, under the "Contact Us" section.
American Express United States App and Website
If you are in the United States, you can also contact a financial executive from American Express through the Amex App in the Help or Customer Service section.
If you wish to check specific features or the benefits of each version of this card, you can visit the American Express website and locate the sections for these products in the main panel.
Conclusion
American Express is a financial conglomerate that has managed to grow and conquer an exclusive market, thanks to the variety of benefits that allow you to enhance the advantages of each card.
Disclaimer: American Express Cards come with associated risks that you should be aware of. To do so, you would need to consult the Terms and Conditions of the platform.