ZoneofGenius.com Logo

Should You Invest in An American Express Card?

Credit cards are a great way to manage your expenses, earn rewards, and build credit. With so many options out there, it can be hard to choose the right card for you. One card that many people consider is the American Express card. But should you invest in one? I personally like the travel protections the card provides and the customer service. There are annual fees, of a few hundred dollars, depending on which type of American Express card you get.

Let’s lay out the benefits of owning an Amex card, who they are best suited for, and whether the annual fee is worth it.

If you travel a lot Amex cards have good protections and benefits

One of the main benefits of owning an Amex card is the travel protection they offer. If you frequently travel for business or leisure, having an Amex card can give you peace of mind. Many Amex cards offer baggage insurance, trip cancellation/interruption insurance, and travel accident insurance. This can save you a lot of money and headache if anything goes wrong on your trip. Additionally, some Amex cards offer travel benefits such as airport lounge access, hotel upgrades, and free checked bags.

Consider running business expenses through your card and paying it off

Small business owners can especially benefit from owning an Amex card. If you are running a business, putting your expenses on the card and paying it off can help you manage your cash flow. Additionally, you can earn rewards and points that can be used towards business expenses such as office supplies or travel. There are also many Amex business cards that offer cashback rewards and discounts on things like advertising, shipping, and technology purchases. If you are a small business owner, an Amex card can make your life easier and your business more efficient.

Collect reward points and use them

Speaking of rewards, Amex cards are known for having some of the best rewards programs out there. Depending on which card you choose, you can earn points or cashback on your purchases. These rewards can be used towards travel, merchandise, gift cards, or even statement credits. Additionally, some Amex cards offer bonus points for certain purchases or sign-up bonuses for new cardholders. If you are someone who loves to earn rewards and maximize your spending, an Amex card could be a good fit for you.

Be sure the benefits outweigh the annual fee

One consideration when deciding whether to invest in an Amex card is the annual fee. Many Amex cards have an annual fee that can range from $95 to $550 or more. While the benefits of the card can definitely outweigh this cost, it’s important to do the math. If you are not someone who travels frequently or puts a lot of expenses on your card, the annual fee may not be worth it. However, if you plan on using the card for business expenses, travel, or to earn rewards, the annual fee could pay for itself.

In conclusion, if you are someone who travels frequently, runs a small business, or loves to earn rewards, an Amex card could be a good fit for you. With their travel protections, business benefits, and rewards programs, there are many reasons to consider investing in an Amex card. However, it’s important to do your research and make sure that the benefits of the card outweigh the annual fee. With so many options out there, there is sure to be an Amex card that fits your needs and lifestyle.

Related articles

Reduce Fraud and Be More Efficient With Expense Management(Opens in a new browser tab)

Business Credit vs Personal Credit: Which One is Right for Your Small Business?(Opens in a new browser tab)

Get Genius Insights for Your Business

Genius Insights for Your Business