What is an American Express Card
American Express (also known as “Amex”) is a multinational financial services corporation that provides a range of financial products, including credit cards. American Express cards come in two main types: credit cards and charge cards.
Credit cards allow cardholders to borrow money to make purchases, and they have a credit limit set by the issuer. The cardholder can carry a balance from month to month and make minimum payments, although interest will accrue on the balance if it is not paid in full each month.
Charge cards, on the other hand, require cardholders to pay their balance in full each month. American Express charge cards offer a range of exclusive benefits, such as rewards programs, concierge services, and travel benefits.
American Express cards are accepted at a smaller number of merchants compared to major credit card networks like Visa and Mastercard, but Amex is widely accepted at many high-end restaurants, hotels, and retailers worldwide.