All I know about AmEx is that a lot of shops don't take them and every now and then OzBargain features some great deals with the use of AmEx credit card.
Can someone please convince me why I would use AmEx instead of other bank credit cards?
PS why is it not available in so many shops?
its simple , use both
when you are not charged more to use the Amex use the amex, free extra points
when you are charged more for using it the points are not worth the extra cost ( in most cases at least)
Amex regularly come up with great offers, like 'shop small', BP, HN..etc..
Combined this with ozbargainers' collective knowledge, you can save some money on regular purchases..
One classic example: Amex BP offer: spend $60 two times at BP stations and get $20 back..
When I looked at it first, thought it was useless to me as there is no way I would be spending $60 for fuel in one transaction.., then, one ozbargainer said, 'just buy BP gift cards instead'…
I did that and it worked out well for me…
Agreed amex card is great.
I have a CBA issued one (x3 Points for every dollar spent) and a Amex Essential credit card.
Amex Essential Perks (one time offers):
- $50 cashback if you spend $~500 around first 3 months
Some previous offers:
- $20 cashback for spending over $100 at Rebel sports (in one or more transactions)
- $20 for spending $40 at woolies( One or….)
- $20 cashback for using apple pay/android pay
loads and loads of such deals mentioned above.
over the course, I've probably saved ~$300 and counting
you can save some money on regular purchases.
You can however the majority of credit card users with loyalty scheme spend more than if they hadn't paid using the credit card. And everyone thinks they're coming out ahead.
Generally true, but not everyone is same.
Great offer on BP but my hatchback gets full with $40-$45 worth of petrol. Can't reach $60 in one transaction unless I buy some overpriced items from the petrol station store.
AMEX is probably the only cc that actually have rewards that are useful (cashbacks etc).
Hear that, Visa?!
All I know about AmEx is that a lot of shops don't take them and every now and then OzBargain features some great deals with the use of AmEx credit card.
A quick glance at the Amex active deals in this page show it is more than every now and then :-), just this last week, I have made use of quite a few cashback offers.
As for why have one, the way I see it is: if not convinced about forking out an annual fee, get a free card first. Then, you have nothing to lose, and everything to gain - since there is free bonus for applying, free rewards for purchases, can be used for cashback offers, small shop promotions etc.
Not to mention other benefits that are attached. For e.g., the Amex Essential card gives you free smartphone screen insurance, purchase protection, extended manufacturer warranty, refund protection etc. Details here.
You even have a choice of 3 free cards, depending on which one suits you best - see my recent comment when asked about Amex here.
If a merchant does not accept Amex, or levies a surcharge, you can always use another mode of payment. So, only use when it is beneficial. But increasingly, the big supermarket, petrol chains etc, all accept Amex. Even if you keep it just for the cashback offers, there does not seem to be a downside :-)
Even if you keep it just for the cashback offers, there does not seem to be a downside :-)
So long as you aren't paying hefty annual fees on card or are able to recover the amount of fees paid with tangible benefits.
Amex - best thing I ever signed up for.
Basic Essentials card
No annual fee
1 point for every 1 dollar spent except on bills, where it's .5 point per 1 dollar.
Pay off your balance with your points e.g. 1000 points = $7.41 or something off your balance.
DEALS DEALS DEALS. There are DEALS all the time, not just when you see them on ozbargain. Log into the site and you can see a range of offers all the time.
Other banks credit cards are shit, but if you're worried about the card not being accepted, why not get both?
Thanks guys for the comment!
Which AmEx card is the best? I just graduated so low (preferably NO) fee, good reward, available for "Shop Small" offers, easy repayment etc.
PS I never have a CC either. Always preferred debit card as I can easily budget and not over spend
Have a look at the no annual fee Amex's: Essential Card, Velocity Escape Card, or Qantas Discovery Card.
If you are anything like me, i.e., you prefer cashbacks to redeeming flights, then Amex Essential is the best. I have the Qantas Discovery card first, but now use the Amex Essential as my primary card, since it gives me better rewards.
Comparisons of reward percentages of free Amex cards, if redeeming cash-equivalent rewards (cash credit, supermarket gift cards):
Also, unlike the other two, where you need to redeem gift cards, with Essential, you can redeem as cashback against your account, once you get to 1000points ($1000 spend).
More details about the Essential card is in my post.
Just a tip: make sure you pay your account balance off before the statement due date. Otherwise, interest charges may nullify all the rewards you get from the purchases.
Also, in case you are not aware, applying via a referral will give you a higher bonus, whichever card you end up applying.
Hope this helps.
Nice comparison. But, you didn't even mention Platinum Edge :(. It ain't so bad.
Platinum edge has an annual fee of $195. Which will not suit OP, who prefers a low (preferably NO) fee card.
does anyone know if you lose the cashback is say you purchase at ww or bws and they f*&% your order and refund you a portion of the order because they didn't delivery or it's out of stock?
I know last time for a Jurlique promo, i took the item back and got a refund which did trigger a reverse in the cashback also. Just wondering if it'll happen if the refund was due to error on the retailer side?
I am not certain. But it seems likely that if Wolworths/BWS refunds a portion, due to reasons beyond our control (e.g. out-of-stock), nevertheless, the cashback may be reversed.
Which is why, to play it safe, if I am targeting a specific spend, I always shop in-store, to minimise the chance of refund and reversal of cashback.
Benefits differ from card to card, but generally, AmEx has more points/benefits per spending. Many shops don't take them because AmEx gets a bigger cut of each purchase you use with their compared compared to Visa and Mastercard.