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.