American Express Credit Cards

American Express a.k.a AmEx is one of the most renowned banks in the world, located in New York City. It is ranked well among the other top banks in the world and has high reputation in the world of credit cards. Though many people own credit cards belonging to other companies like Visa or MasterCard, they like to own one issued by AmEx, because of its state-of-the-art design. Visa, MasterCard and American Express credit card being popular and the most preferred ones, each has its own terms of services when it comes to sanctioning of loans or credit, the interest rates, grace period and late fee charges.

Universally, Visa and MasterCard are the most popular mode of payment for credit card bills and other merchant transactions with associated banks. Newbie credit card owners should check for either of their original logos while procuring their card from the issuing institutions. 

Both Visa and MasterCard permit all types of business transactions and accept payments using their systems. On the other side, neither of the two issue credit cards on their own behalf. Instead, they work in association with most of the banks across the world except a few like the American Express Bank with their trademark logo. In congruent with the associated banks, they lend credits and charge interest from the card holders. A record on all types of bill payments will be scrutinized by Visa or by MasterCard and sent to the issuing institutions. On completion of processing by the bank, a bill statement is mailed to the concerned customers through courier for making the bill payments. 

AmEx on the other hand has its own method and is a stand-alone type of system.  American Express credit cards have their own payment system, and they issue credit cards directly to consumers. Unlike Visa and MasterCard, AmEx runs the entire show and has great features which are comparable with Visa and MasterCard, thereby also has added advantage over Visa and MasterCard. All types of money transactions are directly recorded in real time, solely by American Express bank without relying on third party systems.     

Credit cards associated with Visa or MasterCard are already available in more than twenty five million locations around the world which includes third world countries as well. While AmEx on the other hand, doesn’t quite reach this degree. Services provided by American Express credit card is good, although it isn’t used around the world in areas where the other two dominate.

AmEx credit cards come with good rewards, but the interested customer need to be careful while selecting the plan. Normally, with Visa and MasterCard, the interested credit card customer has to search with hundreds of banks and select the best plan. With AMEX, the customer can visit their website, check for the plan which offers credit card with low interest, the expenditure limit and pay the necessary charges for owning an American Express credit card. Above all, the customer must make it a point to pay the credit card bills on time and lead a peaceful life.   

Credit Cards And Credit Reports

During the late 19th Century, credit cards came into light only in the midst of rich people in Europe, and were distributed by various credit card lending institutions to them on the basis of their bank balances. The common population was lurking in the dark side and was unaware (uneducated) about availability of credit cards. Only after the industrial revolution in the Europe, and in other Western countries like the US, various financial institutions like the banks and other credit card issuing institutions became a topic of interest among the local masses and thereby the latter were enlightened about credit cards and credit reports.

Thirty to twenty years down the line, many institutions issuing credit cards have started distributing the cards also to those who are finding it very difficult to maintain a good credit card report because of debts. Banks have become lenient and thereby want every individual to become a credit card owner, provided the owner maintains a good credit report by clearing all the bills on time. This also helps the individual to become more responsible and avoid uncontrolled spending (spend theft) which is a good experience.

With the increasing prices of edible (perishable items) commodities like food and beverages and sophisticated lifestyle, credit card has become a necessity in a man’s routine life. But at the same time, it’s of utmost importance that a card owner maintains good credit card report so as to avoid any sort of ban at very crucial juncture.

People around the world opt for credit cards which have lower interest rates and that are recognized and permitted (authorized) by globalized banks so that purchasing of any commodity becomes simple at any location across the globe.  

Maintaining a good credit report is absolutely necessary especially when it comes to credit cards. On fulfilling the criteria regarding credit report like timely paying of credit card bills and good credit scores, loans and other money lending schemes get sanctioned easily by the banks and other financial institutions, as and when the card owner applies for it.

With an option for opening more than one credit card account, a credit card owner with bad credit report in a hurry to clear all previous bills, always opts for at least two to three new accounts camouflaging the debt account. It may be sounding cool for the bad credit owner to settle the debts for time being and thereby develop a pseudo-impression in the mind of loan provider so as to sanction money lending schemes on time when required by the former, not being aware of damaged credit reports in future comings.

To be on the safer side and avoid bad credit reports, the credit card owner must always think positive and pay all credit card bills on time or at least within the grace period and maintain a good relationship (rapport) with the banks and other lending institutions.   
     

Concealed Credit Card Charges

Daily hundreds of new banks and financial institutions open in the market across the globe. To get popularity among the masses, they start offering many freebies like cards with rewards and customer friendly low interest rates on credit cards. People very easily get attracted to these offers thereby go further and get their cards done within couple of days, totally unaware of concealed credit card charges. They grope in the dark spending lavishly until the day arrives where they have to shell out hundreds of dollars from their own pockets to clear their credit card dues.

It’s very important to get educated and have complete knowledge about the concealed credit card charges, in order to avoid tension which is possible only by consulting with the concerned authority of the institution or the bank issuing such credit cards. On the contrary if the credit card owner is a newbie, the awareness of hidden charges strike only during the grace period that too when the owner gets a notice from the issuer. During the course of grace period, the card owner has to clear all the pending bills without add-on fees according to the rules. If neglected, it turns into major problems for the owner as if being stuck inside a quicksand (cesspool), being dragged in and out-crying for relief. Timely paying of credit card bills is the best and only solution to avert such drastic situations. A good credit card owner always enjoys good sleep at nights and digests food without the help of any physician. The individual never dreams about grace periods and accruing of bill amounts for later dates.

Leading a busy lifestyle, some credit card owners overlook on factors like the late fee (fine) collected by the card issuers after the grace period. Brushing off this late fee factor may end in doubling of the fee without the owner’s attention. Nowadays with busy schedules like office tours or holiday tours, many credit card owners totally forget about the grace period of their credit card so they end up paying the late fees on the due day, only after getting phone calls from the issuer and thus help the individual to be on the safer side. Some bogus institutions await for the opportunity till the day where the credit card owner may end up losing all his/her money and also end up surrendering both movable and immovable properties to the issuer for not settling all the bills and late fee which include unpaid interests and other concealed credit card charges. So, its absolutely essential for a newbie credit card owner to read all the terms and conditions.