What are the advantages of American Express cards vs. Visa, Mastercard, etc.?

Question

I am thinking about getting my first credit card, and I am wondering what is the best card to get in order to start a good credit rating.

Answer 1

plenty have no annual fee, don't pick one that does. pick one that has cash or point incentives based on a percentage you spend. compare interest rates in case you end up carrying a balance. amex needs to be paid off monthly and usually has an annual fee, not a good beginner card. to start a good credit rating, use it for things you have cash on hand for, save the cash and pay off the card as soon as the bill comes. you'll rack up your incentive points and not risk getting in debt since you'd have been spending the cash on it anyhow.

Answer 2

Visa is accepted almost anywhere, they have about 50% percent of the market. Do not get American Express, first of all their pay cycle is shorter, so you are more likely to make a late payment, and American Express is actually starting to lose some business, cause it is expensive for companies to accept AE. You can get some great deals through Mastercard and Citibank, with 0% percent apr. Personally I like Discover, it's easier to get accepted and I like their bonus points. Make sure you get a card that gives you rewards back, they are all over the place, its a waste if you don't. But it doesnt mean to just start buying because of this. Again Discover and Mastercard are not accepted as many places as Visa but Visa doesn't give you much back in return.

Answer 3

Visa and Mastercard credit cards have worldwide acceptance. Many credit card companies offer them. You will hardly obtain American express card if you have no credit history. But you will be approved for no credit credit card. Credit cards for people with no credit have less benefits: lower credit limit, higher rates and fees, less or no rewards, but they help to establish a credit history. The top bank specializing in credit cards for no credit is First Premier bank which can offer a Visa or MasterCard for no credit history.
You can choose from First PREMIER bank Mastercard/Visa (with 9,9 APR on purchases), First PREMIER Bank
Centennial Gold Mastercard/Visa or Columbus Bank and Trust
Tribute MasterCard Gold.

Answer 4

Amex has no pre-set spending limit. However, it does have an annual fee and stricter requirements for membership.

There are many companies offering Visa and Mastercard without an annual fee and a low rate. That would be your best bet. You'll start with a low credit limit, but as your credit history develops, they will automatically raise it for you.

Answer 5

i started with visa. american express tends to have yearly rates on there cards. (usually 75 dollars, meaning you have to pay 75 dollars extra each year just to use the card) the only card from amex that doesnt that i know of is the blue card.

Answer 6

There are no advantages to any credit card. If I knew then what I know now, I would never have gotten my first credit card. You are much better off living within your means and paying cash.

Answer 7

amex cards a little harder to get. however visa/mastercard is offered by different banks..so if you have a problem it goes to that bank. all of amex cards customer service/disputes go directly to amex.