Why is american express better

You can read more about their methodology here. General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses.

Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.

While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits. Skip Navigation. Follow Select. Our top picks of timely offers from our partners More details. SoFi Personal Loans. LightStream Personal Loans. We may receive a commission from affiliate partner links. Click here to read more about Select.

Click here to read our full advertiser disclosure. We may receive a commission when you click on links for products from our affiliate partners. Both options are charge cards which means the cardholder doesn't get charged interest but must pay the full balance when they receive the statement. But the two have some key differences. The American Express Black card is a high-end, exclusive charge card that is only available to individuals on an invitation-only basis.

Consumers may qualify for the American Express Platinum card based on their credit score and income. Keep reading to find out what each card offers and how they differ.

The American Express Black Card isn't available to just anyone. It's a charge card that's offered to high-net-worth individuals HNWIs through an invitation.

This means you can't just apply to join. Also referred to as the Centurion Card, it's easy to recognize thanks to its distinctive black color and American Express Centurion. The card itself is made of anodized titanium and weighs almost 14 grams. Getting an invitation generally depends on a number of factors. Although the card's webpage doesn't have any details on how people qualify for an invitation, we can wager a good guess based on reports and the cardholder agreement.

Having enough disposable income allows the cardholder to maintain the hefty fees associated with the card. You don't have to be as elite or nearly as much of a big spender to apply for the American Express Platinum Card. American Express is not secretive about this card as it is with the Black Card. The Platinum Card is the next step up from the Gold Card and comes with many luxury benefits.

Qualifying for this card requires a very high credit score —and a lengthy credit history. Prospective cardholders also require relatively high income in order to be approved for the card, though certainly not as lofty as the Black Card. So, while the Platinum Card is still technically a charge card it now offers a revolving credit feature with a separate line of credit that makes it similar to a credit card if needed.

The benefits also extend to fine hotels, free Boingo Wi-Fi, car rental privileges, and concierge services. Cardholders can earn points on every dollar spent on the card—as many as five times on travel-related transactions and one point for every dollar on regular purchases. Editor's Rating A tooltip Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value.

Featured Reward. Intro APR. Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U. Enrollment required. Terms Apply. Popular Articles. Best travel credit cards. Best cash-back credit cards. Today's year mortgage rates. Editor's Rating. Rose Gold is here to stay. No Foreign Transaction Fees. Plans created after that will have a monthly plan fee up to 1. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.

After that, your APR will be Earn 1. Cap applies. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors. No Annual Fee Terms Apply.

Terms apply. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits. No annual fee. He primarily covers airlines and air travel. A native New Yorker and avid photographer, David previously covered travel, credit-card rewards, and frequent-flyer programs. Before joining Business Insider, David was a freelance writer and editor — before that, he worked in public affairs.

You can follow him on Twitter or Instagram , or send him an e-mail at dslotnick businessinsider. She oversees the vertical's guides and reviews, covering topics including banking, credit cards, insurance, investing, and mortgages. Her goal is to empower readers to make smart, informed financial decisions. You can reach Sarah at ssilbert insider. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services ».

More Credit Card Coverage. The best credit cards for average or fair credit. The best cash-back cards to open in The best rewards credit cards of November The best starter credit cards. Additional comments. Email optional. Receive a selection of our best stories daily based on your reading preferences. Loading Something is loading. Email address. Deal icon An icon in the shape of a lightning bolt. Learn more. A five pointed star 4. Best Amex card for dining rewards. Best cash-back Amex card.

Best for bonus points on travel. Best business credit card for travelers. Partner Offer. Click Here To Apply Now. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

Regular APR Why We Picked It. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed. High reward potential on flights and hotels booked through American Express Travel Multiple credits can help justify the fee Comprehensive airport lounge access Luxury travel benefits and elite status with Hilton and Marriott with enrollment.

High annual fee Maximizing the statement credits takes some work and could be unworkable for many Reward rate outside of travel is sub-par for a premium card.

Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U. Enrollment required.

High rewards earnings possibilities Points transfer option to many partners Add up to 5 authorized users for no additional annual fee Can choose from regular or rose gold versions.

Rose Gold is here to stay. No Foreign Transaction Fees. Credit Score Excellent, Good - High cash back rewards in some categories No enrollment is required, cash back is automatic. Plans created after that will have a monthly plan fee up to 1. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit. Welcome Bonus 40, Miles. No foreign transaction fees Free first checked bag and priority boarding on Delta flights Large variety of airline partners.

High regular APR Has an annual fee. Enjoy your first checked bag free on Delta flights. Earn 2X Miles on Delta purchases, at restaurants worldwide, including takeout and delivery and at U. Earn 1X Mile on all other eligible purchases. Elevated earnings at U. No annual fee. Click Here To Learn More. Welcome Bonus , points. Return Protection. Purchases must be made in the U. Let us take care of it. Concierge is a complimentary service, available day or night. Whether you need expert advice to make arrangements and reservations for a special anniversary dinner, tickets for a Broadway show, or the perfect gift, you can rely on Concierge to help take care of your requests, large and small.

You can rely on medical, legal, financial, and other select emergency coordination and assistance services while traveling more than miles from home. Coverage can be in effect for Eligible Persons for eligible lost, damaged, or stolen baggage during their travel on a Common Carrier e.

Please read important exclusions and restrictions. Welcome Bonus 50, Miles. Rich Delta perks, including a free first checked bag and priority boarding on Delta flights Access to Delta Sky Club airport lounges when flying Delta Annual companion certificate good for both economy and first class.

Baggage charges and other restrictions apply. See terms and conditions for details. Earn 3X Miles on Delta purchases. Welcome Bonus 75, points. Restaurants within the first 6 months of Card Membership. Receive 1 free Night Award every year after your Card account anniversary. Award can be used for one night redemption level at or under 50, Marriott Bonvoy Points at a participating hotel.

Certain hotels have resort fees. Rewards never expire No limits on cashback rewards Flexible payment options No category enrollment required. Eligible everyday purchases earn an unlimited 1. Annual Fee No annual fee. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors. No annual fee Introductory APR on purchases Great extra benefits like purchase protection and car rental insurance Business-oriented benefits like employee cards and authorized management accounts.

From workflow to inventory to floor plans, your business is constantly changing. Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.

Credit Score Good, Excellent - Excellent welcome bonus A slew of valuable statement credits Extensive airport lounge access Rich suite of travel perks.