American Express Charge Card Fee Annual Rs Form

Wow, I see some pretty salty replies to this question...First off, the Platinum isn’t as prestigious as people make it out to be. I’m a college student and I have one, that’s saying something (granted I also have excellent credit and a job). I am very price sensitive - I once spent 3 days thinking about if I wanted to buy a $60 jacket… I did and it’s my favorite jacket. But being price sensitive doesn’t mean you can’t have nice things. Here the rundown of how you can MAKE THE MOST of your platinum card.$200 Airline Credit: buy 2 American Airline gift cards at $100 each. Boom, $200 reclaimed.$200 Uber credit: use Uber or Uber Eats. Pretty self-explanatory.Sign-up bonus: Depending on which offer you sign-up for (let's say 60,000 MR points), equals to $600 in travel. Aye, you just recovered a whole year.Centurion Lounge/ Priority Pass: Every hungry or thirst at an airport? Of course you are, you’re at an airport! Instead of spending money, go to the lounge for some refreshments. Those hamburgers and bottles of water add up!AMEX Offers: I love those, gotten back like $200 this year!TSA Precheck/ Global Entry Credit: Every time I use the precheck and global entry line, I look at the other pleb… I mean other fine travelers in the regular lines with pitty. Oh, the horror of having to take off your shoes, liquids, laptops, and pacemakers. This benefit will spoil you rotten.Hilon and SPG Gold: which aren’t very valuable in themselves, but status match to Wyndham and Total Rewards (Caesar’s Entertainment) Diamond Status and you’ve got yourself some great Las Vegas Perks! ($100 dining credit, 2 free show tickets, late checkout, no resort fees, etc.)Platinum Concierge: Every needed show tickets or event tickets but Ticketmaster is gouging you with feels like Spirit Airlines? Call up your concierge and they can help you find great seats for a great price! I’ve done it a few times and I’m very satisfied.So you see, there is a lot of benefits if you travel around. But if you don’t, it’s going to be harder to maximize the benefits you get for the $550 annual fee.

Simply ask for it. If your payment history is good ( on time) and your usage is reasonable ( 25–45% of your limit each month) typically they will without having to do anything else. Annual fees are free money to credit card companies. They are there for two reasons:1) because the corporations realized that people are desensitized to paying fees under a certain amount. Also a large majority of people never actually look a their bill as long as it is in the ballpark of what they think is accurate. Therefore many people simply pay the fee without even registering that it is there.2) because if you have outstanding debt that rolls form one year to the next that annual fee is technically “new” debt and allows me to keep your account open as bad debt longer. Since the only way I have to collect on that debt as an unsecured debt is financial pressure on your credit report, I want that bad debt to continue as long as possible so it can’t “fall off”.If you are a good customer, the loss of the annual fee is NOTHING compared to the interest on rolling balances and transaction fees from merchants they receive so they have zero issue dropping it with nothing more than a simple, polite phone call. The only thing to remember is that you may have call each year as the system will automatically apply it.

American Express (company) sells its network to merchants by playing up their relatively wealthy customer base. The average Amex customer spends 2-4 times as much as customers using competing cards. Despite the higher discount rates, merchants want to be able to take payments from Amex's higher end customers and sacrifice a few additional points to do so.On the consumer end, the reality is that in certain cases, there are NOT competing cards that offer the same benefits and level of service--this is what lures consumers to the brand. The Starwood Preferred Guest (loyalty program) (SPG) card is a good example. No other card allows you to accumulate SPG points at a rate of one per dollar spent. Even in Amex's on point network, these SPG points go for ~3 Amex points to 1 SPG point, so it's a great deal at 1 per dollar of spend.With Amex's higher level cards (Platinum and Centurian), they often have special early access to certain blocks of premium seats at major events and concerts like the tennis' U.S. Open (tennis) tournament. Regarding fees at competitive cards, I think you'll find that for cards that do offer comparable benefits, say the Visa Signature American Airlines (airline) card, you'll find that they charge a fee as well.Because Amex it targeting a higher end customer and part of that strategy includes higher discount rates, typically you'll find that the Amex card is not accepted at smaller merchants. While there are a lot more of these types of businesses, in terms of credit card payments, we probably see something like an 80/20 effect where 20% of the merchants are doing 80% (if not a signNow portion) of the volume. There's a good chance that the bigger merchants in the 20% accept Amex, which offers plenty of volume from which Amex can profit despite a small network.

If you are spending more than 3 Lacs then annual charges will be waived off.Source: https://www.sbicard.com/sbi-card...

American Express probably charge the retailer that much more than Visa/MC charge the retailer. They always did in the past.Q: Why is it some stores want to charge $2 fee for using an American Express credit card, but not Visa or Mastercard?