Credit Card Tutorials

American Express Credit Card Benefits

With so many different credit cards on the market today, it can be hard to decipher one from another. At first glance, they all appear to offer the same thing. However, the benefits on American Express cards are very different than the others. Here’s why:

Purchase Protection: This is a unique benefit which is offered on most of their cards, including the entry level American Express Blue Cash. On eligible purchases, you’re covered for the first ninety days in the event of theft, accidental damage, or even if you just loose the item. This is an extremely valuable benefit which is not offered on any other major credit card.

Membership Reward Points: American Express is famous for their extensive rewards program. “Membership Reward Points” are awarded for virtually every dollar spent with the Gold, Platinum, and Centurion cards. These points can be redeemed for a wide array or products and services – i.e. new television, a private jet charter, or you can even use them to pay your income taxes!

Luggage Insurance: A number of American Express cards include free luggage insurance. In the event your suitcase is lost, stolen, or damaged while in transit… you’re protected. Coverage varies by card; for example the American Express Gold Card has lower coverage limits than the Centurion Card.

Travel Insurance: Most AmEx cards include up to $100,000 coverage on eligible travel. No one wants to be in an accident, but the bottom line is that planes, buses, trains, and cruise ships sometimes experience the unexpected. If you die or are dismembered during an eligible accident, American Express will pay up to $100,000 to you or your beneficiaries. Currently, this benefit is included on the American Express Blue Cash, Gold, Platinum, Centurion, and several others.

Extended Warranty: Televisions, computers, and other gizmos and gadgets breakdown all the time. On eligible purchases, American Express will extend the manufacturer’s warranty by up to one additional year. This can be an extremely useful when buying electronics and other items that are more prone to malfunctions. This is a free benefit which you do not see offered on other credit cards.

Rental Coverage: In the event you are in an accident while renting a car, this supplemental policy will pay for anything your regular car insurance doesn’t cover. Most platinum credit cards offer some degree of rental car coverage, however American Express is different because they offer this benefit on every card issued in the United States.