Amex vs Visa Credit Cards: How to choose
American Express cards tend to earn more points but Visa is more widely accepted. Here's what to compare before you apply.
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If you're deciding between an Amex and a Visa credit card, the actual features are more important than the logo on the card. In general, Amex tends to offer better rewards than many Visa or Mastercard credit cards. However, they aren't accepted in as many places worldwide. Amex offers 22 credit cards in Australia and there are over 175 Visa credit cards.
Things to consider when comparing American Express and VISA Credit Cards
- Points earning, capping and expiry. If you’re saving to earn big ticket items such as flights then it’s important to ensure that your points don’t expire before you accumulate enough. Similarly, points capping could be a problem if you spend a lot, so could limit your earning potential.
- Annual fee. Amex cards have an annual fee that run between $50 and $500 per year however, they do run promotions that will waive the annual fee during the first year. Many Visa cards come with no annual fee, but some of their credit cards charge a $500 annual fee.
- Interest rates. American Express usually offers about eight different cards and generally charges an interest rate between 14% to 20%. Visa cards can come with either a variable or a fixed interest rate and can range anywhere from 6% to 25%. American Express cards usually charge a higher interest rate than Visa cards.
- Customer service. Both Visa and American Express has a reputation for its customer service, providing a concierge that can help you in any situation, whether its an emergency or not.
- Complimentary insurance. Both Visa and American Express have credit cards that offer complimentary insurance when you pay for your travel in full for the card. However, it’s important to understand the terms and conditions before you apply.
| Feature | Amex Card | Visa Card |
|---|---|---|
| Rewards | Higher earn rate and more bonus points | Lower earn rate |
| Fees | Higher than average | Average |
| Interest rate | Higher than average | Average |
| Surcharges | More common and higher than Visa | Lower than American Express |
| Eligibility criteria | Stricter than the average Visa | Varies widely by bank |
| Acceptance | Less widely accepted | Accepted pretty much worldwide |
| Other | Often a status symbol | Many card options available |
American Express Credit Cards
Visa Credit Cards
Images: Shutterstock, VISA, and AMEX
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