Why does amex have annual fee

There are obviously many more perks that come with the Platinum card than with the Gold, especially when you consider the higher annual fee. Rewards can be used for merchandise, gift cards , dining, shopping, entertainment, or for use at the Amex travel website. Points can also be transferred to other frequent flyer programs.

For those who can afford to live at a very VIP level, the Platinum card offers a slew of extras such as discounts on private jet and limousine rentals and a dedicated concierge service to assist in managing travel details. American Express even holds reservations at exclusive restaurants worldwide should you require feeding when you travel.

There are other costs to consider besides annual fees. Both cards are charge cards, which means that balances must be paid in full at the end of each month. The same rules apply to any payment that is returned by the cardholder's bank.

In order to keep the account in good standing and keep a spotless credit score, it is always important to make payments on time every month. There are no interest charges on the Platinum account because it must be paid in full each month.

The annual percentage rate APR for this feature is Interest also accrues on late and returned payments at an annual rate of Neither card charges a foreign transaction fee, making it easier to use them when cardholders are abroad. Amex stopped charging the over-limit fee in October , so cardholders are not charged a fee for going over their limit, which is dynamically set over time vs.

American Express. Rewards Cards. Credit Cards. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. You can get all this and more, for no annual fee.

So, find your Credit Card with no annual fee today and enjoy great benefits and the backing of American Express. Learn more about the types of Rewards Cards American Express offers. View All Cards. Travel Rewards Credit Cards Travel Enjoy benefits that travel with you and earn points to use towards future travel. We also have annual fee Cards with a range of different fees. If you consider yourself a foodie or spend a lot at U. Cardholders earn …. Uber rides or Uber eats orders and access to more than 1, airport lounges worldwide through the Global Lounge Collection.

If a card with no preset spending limit sounds appealing to you, one of these three cards from American Express could be a good option. But the best card for you will depend on where you typically spend.

You might be better off with a more moderately priced travel card instead. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.

This benefit is for an eligible airline you select at the beginning of each year enrollment required. Uber rides and Uber Eats orders. International Airline Program: Enjoy special pricing on premium economy, business and first class tickets with over 20 partner airlines. Terms apply. Travel Insurance Perks: Qualify for benefits like trip cancellation and interruption insurance, medical evacuation, baggage insurance and car rental loss and damage insurance. Platinum Card Concierge Service: Get help with dining and travel arrangements, shopping and more.

By Invitation Only Events: Exclusive access to one-off cardmember experiences including private dinners with world-renowned chefs. Was this article helpful? Share your feedback. Send feedback to the editorial team. Rate this Article. Thank You for your feedback! Something went wrong. Please try again later. Top Offers From Our Partners. Find the Best Credit Card.