American Express cards

**Ginger Rogers** · 21st November 2006, 11:02 AM

I just got one of those 'spam' emails inviting me to apply for an amex 'red' card.

What is so special about American Express though, I know that not everywhere excepts them do they. Their APR seems lower, but they don't offer balance transfers or anything.

Or are they only for people on a fairly high income?

**Araneus** · 21st November 2006, 12:43 PM

I think they are considered more "prestigious" by some people.

Personally I couldn't care less. I only have one because my company forces me to (it is a so-called "Corporate" card although I am still personally liable for the payment).

**tkingdoll** · 21st November 2006, 09:40 PM

I believe their minimum income is 17k. So, not so special after all. However, they have an annual fee, so there are better cards out there.

**Aardvark** · 25th November 2006, 10:12 AM

http://www.moneysavingexpert.com/

Best site for free money advice and best buys on credit cards.

We use it all the time.

He is a regular on Radio 2

**Admin** · 28th November 2006, 05:07 PM

I think a lot of it is marketing that's similar to designer labeling. Having American Express or Gold/Platinum cards probably appeals to customers as a status symbol.

To me it looks like a way of encouraging people to hold larger card balances with an appeal to flattery!

The amount of interest paid on a credit card has almost nothing to do with the APR ??? - it's all about the percentage of borrowing you pay off each month.

So now you know why you're chosen as a 'privileged customer' to receive a platinum card - they've identified you as someone they can get money from!