that is an interesting point of view, much appreciated thank you.
AMC is annual management charge i.e. the amount you pay amex for having their card. I heard amex do one of the best conversation rates for USA though?
They might have the best conversion rate, but when they mark it up by 2.99% it can’t compete with the cards that don’t mark up their rates (i.e. Monzo, Halifax Clarity, Nationwide CC)
Barclaycard’s Cashback still pays 0.5% for legacy customers, which is great for a VISA card. The previous Barclaycard Amex was also great as it came with a backup VISA card with a slightly lower cashback for when Amex wasn’t accepted, which was surprisingly common at the time.
However, if this product wasn’t available and the foreign currency didn’t have excessive charges, I’d open an Amex right away.
All fair. I don’t use AmEx for foreign transactions, either. Their interest rates are horrible too, so have to keep an eye on what you spend and I have a DD for full amount set up.
0.5% is good, but if you can put more than £5000/year through the free Amex cashback card, you start getting 1% (and more over 10k) back, which is a nice little extra.
(PS: Believe this is allowed - if anyone wants a referral code PM me. You get £10 bonus cash back and I get £20)
If I cancel my Amex card, will my purchases made by that card still be covered from protection?
After building my credit hard for the past 8 months i’ve been accepted for the AMEX cashback at 19 years old.
Limit is £5700
5% cashback in first 6 months 1% after that. (Just put normal spending everywhere that takes amex on it)
Direct debit to pay it off in full
Anyone know how long the card takes to come, says up to 10 days
I applied for one a few weeks ago and it arrived within 3 days.
Looked at acceptance its pretty much only greggs and the village shop that don’t take it along with the work canteen.
Just use monzo for them as its not that much money. (Even the parking meters in town take amex)
I have to say I rarely have an issue; both in towns and cities. I think it’s one of these perpetual myths about Amex from the days when it really wasn’t accepted.
It’s almost fashionable for people (who don’t have one) to say “Oh well it’s not accepted anywhere so why would I get one”.
It’s what alot of my family have always said when my dad has pulled out his.
Even in the rural area I live in pretty much everywhere takes it including the pub in the village.
I gave up and cancelled the card in the end, the amount back wasn’t worth the hassle.
I found way too many places I shop wouldn’t accept it Greggs, KFC, Mi (Xiaomi), GiffGaff, Three and O2 for only a few examples.
I also found some that did had weird rules such as having to insert the card in ASDA as contactless doesn’t work with AMEX cards there? I hate my local McDonald’s which has AMEX acceptance when it feels like it on certain self serve kiosks.
I rarely had any useful offers either, the TfL 10% back offer over last Christmas would have been ace as a retail worker travelling into work but I never received it and they wouldn’t/couldn’t add it for me.
Whenever you call unless it’s the simplest of fixes it now also has to go to the “back office” to be looked into, I fail to see the point if the call staff can’t have any control or look into things themselves.
I think acceptance has grown due to contactless and Google/apple pay, virtually all acquirers process amex, but it’s just the often small shops that told customers they don’t accept amex which was what the staff are told to say due to high processing fees , but if you actually tried the transaction would go through, using contactless and mobile wallets don’t allow staff to see which card you are trying to use and over time shop owners gave in.
Also Amex shop small is a genius idea from amex to get shops accepting their cards.
I got my at the start of the year and have been pleasantly surprised at the number of outlets that now accept AMEX. Was very different when I last one, quite a few years ago.
I have recently experienced this at Morrison’s Pay At Pump. Two different locations!
Will not accept at pump, however, works perfectly at kiosk. Work that out!
For other places, I use it within GooglePay, normally without issue. Recently though, it failed three times at the local McDonald’s drive thru, so I had to revert to using my VISA back-up. In store and in-app, however, works perfectly fine.
@desu - Make sure you check out the Shop Small offers feature. You may find that some of your local stores participate. You get £5 from AMEX for a minimum £10 spend, until mid-September 2020.
Make sure you Pay In Full each month though, as rates not attractive.
Enough places I shop take Amex to make it worthwhile for me. I have a reward Mastercard for the rest, and Curve in front of that for places that don’t take credit cards.
Biggest problem for me is I feel like an arse asking ‘Do you take American Express?’
Yep I have found this too AMEX via Google Pay doesn’t work.
It actually does go tick payment sent but two seconds later you’ll get the person shout hang on it’s just said failed as you’re about to drive on to collect your food.
So you’ll need the physical AMEX card to tap with, which works fine.
Agree. Had not got physical cards with me on this rare occasion as was an impromptu desire for a Malteser McFlurry
The other weird fast food is pizza hut.
They will take AMEX if you call them but not online.
However you can hack that by selecting PayPal and choosing your AMEX card linked to it.
Been looking, my local pub is on it along with the Indian takeaway I use.
I’m going to nuke the balance weekly by bank transfer to pay it in full and keep on top of my spending.
The £5 back with shop small is one hell of a offer even if you only had a meal and a pint at the pub.
I find this too with Morrisons.
Weirdly my local PayAtPump used to work with AMEX and now says “please pay at kiosk” after entering your pin.
I occasionally try it again just in case it was a temporary thing.
I’ve had no issues with PayAtPump at TESCO or ASDA. Can’t remember with Sainsbury’s, think it was ok.