Sunday, March 16, 2008

Review: American Express Credit Cards Benefits

These are the main benefits of Amex cards: There are other benefits too, but these, in my opinion, are the most important.

  • Car Rental Loss And Damage Insurance
  • Buyers Assurance - Extended Warranty
  • Purchase Protection - 90 Day Insurance
  • Return Protection - 90 Day Return Policy
  • Disputing Charges

Car Rental Loss And Damage Insurance:
If your rental car gets damaged or stolen, Amex will pay for it.
Read my review
.
Note: Amex does NOT cover Liability Insurance. (Nor does any other credit card)
The Delta Options card does not include this benefit.

Buyers Assurance - Extended Warranty:
Doubles the manufacturer’s warranty, up to a year.
Read my review.

Purchase Protection - 90 Day Insurance:
Insures items purchased against theft and damage for 90 days. (The platinum card insures against loss as well).
Read my review.

Return Protection – 90 Day Return Policy:
If you want to return an item and the store does not want to take it back, you can return it to Amex within 90 days of purchase.
More info
.
This is the only feature that I have never used So no review, yet.
The Delta Options and Classic cards do not include this benefit.

Disputing charges:
If you don’t think the company had the right to charge you, Amex is the best card to have for disputing the charges. All it usually takes is one quick phone call to Amex.

E.g. After Sunrocket, a Voip telephone company, suddenly terminated service, Amex refunded me the full amount which I prepaid to Sunrocket (approx. $200) even though I had paid the charge almost a year beforehand. Other credit card companies refuse to refund charges if they are older then three months. (That is the official rule by Amex as well, though there obviously are exceptions…)

The only time I did not have luck disputing a charge was against Virgin Atlantic. (I have heard that it’s not as easy disputing charges against major corporations as it is with smaller ones.) I had to file a claim at Small Claims Court, which was very successful. Make sure to read the post about that… coming soon.

Notes:
1) This review pointed out the main benefits of almost all Amex cards. The main difference between the different Amex cards is their rewards system. Click here to see a list of the most rewarding Amex cards, and see which card you should get.
2) These Amex benefits are with credit cards from American Express. Cards from other banks the have the Amex logo on it are not the same, and don't have the same benefits.

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