It’s easy to think that all credit cards are about the same but this isn’t true. The choice of credit card you make can have a big impact on receipts in stores, interest fees and fees and returns from reward schemes.
bank cards are owned by banks, and each has their own terms and conditions. To facilitate payments and expand their use in more places, banks are usually Pengeluaran sgp with a credit card exchange network, either Visa or MasterCard or, in many cases, both networks. By joining this network, bank cards can enjoy the country and worldwide acceptance.
Therefore often see cards bearing both the Visa (or MasterCard) logo along with the bank’s publishing logo. Visa cards do not come directly from Visa; only Visa-member banks issue Visa credit cards directly to consumers.
Travel and entertainment cards are issued directly by card providers, such as American Express and Diners Club, but can be distributed through banks. The issuer, American Express, for example, is a non-bank credit provider.
Visa cards provide revolving credit You can choose to pay bills directly before the due date every month or a lower amount that meets the minimum due date. Because of the revolving credit facility, Visa credit cards come with pre-set spending limits.
Unlike Visa cards there are several Amercian Express cards available without pre-set credit limits. The American Express card is a credit card and does not provide revolving credit. Usually you are asked to pay the full amount due every month.
The biggest issuer as far as travel and entertainment cards is American Express. But despite its size, the amount is very small compared to the number of Visa cards in circulation. American Express cards are only around 15% of the total outstanding Visa credit cards (and around 14% of all outstanding MasterCard cards).
There are at least 21,000 member banks on Visa, which has helped to receive wide benefits for Visa credit cards worldwide. More than twenty million merchants worldwide accept Visa credit cards. While many places will accept AMEX cards the number of retailers is far less.
Travel and entertainment cards were originally designed for frequent travelers. They used to be accepted mainly in travel- and entertainment-related establishments (hotels, restaurants, airlines), but now they are present in all other types of businesses (department stores, drug stores, gas stations, etc.).
Credit card award program
The original travel and entertainment concept of American Express led to develop a full array of services, including frequent flyer miles, generous travel insurance, luggage insurance, etc. American Express has also created some of the most rewarded accessible credit card schemes.
While a basic American Express credit gift card gives 1 point for every dollar spent, which is the same as a Visa credit card, the premium American Express credit card rewards get 2 or more points for every dollar. Points earned from American Express credit card awards will never end and are not subject to a cap which means you don’t have to go to the shopping frenzy to make sure you have enough points to redeem before the expiry date.
CANNEX has been given a 5-star rating to the American Express credit card program award, in recognition of the value given to consumers.