Why Is American Express Not a Credit Card? American Express Cards Overview

American Express offers cards with great rewards and luxury perks, which have become status symbols. However, some stores charge American Express higher fees than Visa, Mastercard, and Discover. This means American Express cards are less widely accepted than Visa and Mastercard.

Card Payment Options and Approval

In the past, American Express cards were charge cards, meaning the balance was due every month. Now some AmEx cards allow carrying a balance like credit cards, but interest rates apply.

It’s harder to get approved for an AmEx card because you need good or excellent credit. Annual fees can also be high on premium AmEx cards for big spenders.

Market Share and Acceptance

Visa and Mastercard dominate the global market with over 70 percent of credit and debit card transactions. American Express and Discover lag far behind, so you may not always be able to use AmEx or Discover at every store.

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