American Express Explained | Benefits, Cards + Application Process UK

My referral link: http://amex.co.uk/refer/sTANIMtokn?CPID=999999554

Thank you very much for watching!
Check out the AmEx website here: https://www.americanexpress.com/uk/

Timestamps:
0:00 Intro
0:42 Who are AmEx?
1:23 Benefits
3:14 Drawbacks
5:45 Cards on offer
7:12 Comparing 2 cards
11:07 Eligibility checker
13:05 Referral and Application Process
16:01 Thank you

American Express, also known as AmEx, is often seen a lucrative company that only the rich use. Today that’s not the case anymore as they have extended their card range so that almost anyone with decent credit is able to get their hands on one. These range from basic Credit Cards for beginners to credit cards that you actually have to pay for on a yearly basis even if you don’t use it.

So why is it so popular?

- Many AmEx cards come with a reward point scheme where you receive a membership point for every pound you spend. These points accumulate over time and you can spend them on vouchers for retailers, tourist attractions or even flights across the world with companies like British Airways.

- Some of their cards also offer travel perks like free access to airport lounges, complimentary room upgrades in hotels and travel insurance.

- Their customer service team is on hand 24/7 via phone, text, email or mail.

- They tend to also be more generous in accepting new applicants than some other issuers, mostly because of the high interest rate meaning you don’t need a great credit score to get one.
However...
- Due to their rewards and the way they make money, some cards come with awfully high interest rates so just be careful to not fall into a trap and then not be able to pay it back.

- They also charge some companies for payments they process. This is because they have their own payment network and don’t rely on companies like Visa or MasterCard. This means that some businesses, especially small ones, may not accept them, or in some cases like online, you may be charged to use it.

A current initiative from AmEx is trying to counteract that issue. It’s called the Small is Back campaign where when you spend over £10 at small participating businesses you can earn £5 back.

Another thing to note is you only get the welcome bonus once - so time it right - if you’re not going to use it don’t get one yet. Be careful as if you cancel your card and get it again after a few years, you won’t get those welcome bonuses for a second time.
Cards available:
A range of cards from the Nectar Credit Card where you earn Nectar points as you spend money, to the Rewards Credit Card where you earn membership rewards points on every £1 you spend and the British Airways American Express Credit Card where you collect Avios (essentially flight points) and then you can spend them on flights across the world.

So again, depending on how much you’ll spend and what rewards you want will determine what card is best for you.

Eligibility checker
You can do an eligibility checker and it will tell you how likely you are to be accepted. This is a soft check meaning it won’t appear on your credit report.

Referral
You can be rewarded for referring friends and if they get accepted both of you can earn a variety of rewards if they accepted. My good friend Joe referred me and when I got accepted, we both got rewarded with points.

So if you’re looking to get one, use this referral link http://amex.co.uk/refer/sTANIMtokn?CPID=999999554 to get yourself some bonus points!

I hope this introduction to AmEx has helped you understand their rewards and how they work, and if you did want a video explaining their cards in more details let me know in the comment section and I’ll make it happen!
Thank you again for watching, please like the video if you enjoyed, and subscribe for more!
And remember, save money so that one day that money can save you. I’ll see you in the next video.

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Rich Dad Poor Dad - Robert T. Kiyosaki https://amzn.to/3alO2e5
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Your Money or Your Life - Vicki Robin https://amzn.to/3a8GGdA

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Disclaimer
Just to make it clear, I am not a financial advisor. To get the best and most relevant information for your situation, please seek professional advice from a qualified financial advisor. My videos are for entertainment purposes only, and the ideas and topics covered are personal opinions. You are solely responsible for the financial decision you make. Thanks!
#AmericanExpress #CreditCard #RewardPoints

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