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How is American Express different from Visa or Mastercard?*

I'm considering switching from Visa to American Express, because they are offering me a much better APR. I'm wondering if it's worth the switch. I'm slightly confused on the difference between an American Express card and a Visa or Mastercard.

Answers:

1) There are pretty much the same. Visa, Mastercard, and American Express can be used almost anywhere. Some of the benefits are different. As you mentioned, the APR's can vary along with the rewards. Plus, American Express usually charges an annual fee.

2) i am not a hater so i will tell you this so you can make your own judgement. AX cards you have to pay the full bill at the end of each billing period. but the other cards you have a minium balance to pay

3) Well Visa and Master cards are on creidt and you can pay them back on a monthly basis, American Express you have to pay back the full amounts at the end of the month.I think American Express doesnt have a limit either ( i think thats kinda how it works )

4) American Express requires you to pay your entire bill at the end of each month

5) See the difference here

6) Compare Apples to Apples.... In the old days, both MC/VISA/AE had annual fees, but only MC/VISA allowed you to carry balances and charged interest. Now MC/VISA's have waved annual fees... and AE is allowing payments w/int instead of balance due in FULL at billing. Make sure for a reduced rate, you are not paying annual fees. Make sure if you are late on a payment, rates don't increase. READ before signing!!

7) Its just what he says: a charge card is a card where you have to pay off the full amount at the end of each month, as opposed to credit card, where you only have to pay off at least a minimum fee, and debit card, which just debits it from your account. With American Express you can charge but the balance has to be paid at the end of the month although would be a credit card it would have to be paid like a charge card. Businesses use them mostly, for tracking expenses and the like.

8) The traditional American Express card is technically a "charge card," which means you have to pay the entire balance at the end of each month plus an annual fee. The American Express Blue cards operate much like Visa and Mastercard, in that you have the option to pay a portion of your cumulative bill at the end of each month. All three cards have limits, even AMEX. If you don't want to pay an annual fee in addition to paying the entire balance off at the end of each month, make sure to sign up for the AMEX Blue line.

9) It all depends on the type of Amex that you want to get. Sometimes they are better than a visa but sometimes a visa can be as good. Just call your banks and then you will know which one is better.

10) The main differences are as follows: VISA is the most widely accepted form of payment, with Mastercard quickly closing the gap. American Express is still not accepted by many merchants. Many American Express cards require you to pay your balance in full each month. However when it comes to disputing a charge, you will always have better luck with AMEX than you ever would with VISA/Mastercard. Just don't pay the charge otherwise you are screwed! Visa and Mastercard have 16 digit account numbers, amex has only 15. Amex usually offers higher credit lines. Most celebrities have AMEX. Other than that, they are not really all that different!

11) Remember a lot of places don't accept American Express. ----------------------------------- http://www.bestcreditrates.net

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