AMEX reward card is given to millions of people by American Express and is among the largest multinational corporate companies. It was established in the year 1950. And it's known worldwide. The company's top executive is Stephen J. Martone.
Many people have the wrong notion that the AMEX is the same as the American Express. But they are not the same. AMEX is an entirely different entity. So, before you get confused, let me explain the difference between these cards. The AMEX is the credit card issuer, while the American Express is the credit card company. Moreover, you can only apply for a credit card with the help of an AMEX representative.
When you want to earn rewards, the best way is to use the same reward card. The card works as a cashback scheme. This means that when you make a purchase with your card, you will be able to get some cash back. Usually, the amount of cashback offered is equal to 1% of the whole retail price of the product.
It's important to know that the cashback scheme has no connection with your credit score. So, it has nothing to do with the three digit score that is calculated by the Fair Isaac Company. If you pay off your balance regularly, you can easily earn more than what you spent. However, amex reward card users need to understand that using this scheme is beneficial only to those who possess good credit scores. If you have a lower FICO score, then the amount of cashback that you will be able to get is lesser. This is how the system works.
In order to be able to maximize the benefits of the same reward card, one must manage their expenditures well. People, who use the card for convenience, can actually benefit from the scheme better as compared to those who prefer using the credit cards for shopping compulsions. If you manage your expenditures well and use the card for making purchases that you would usually make on a regular basis, then you can use the rewards points to reduce the interest cost that you would incur. As you get cashback on every purchase, you can easily reduce your interest expense.
There are other ways to earn rewards apart from the regular cashback scheme. You can earn rewards through the express login scheme also. With the express login program, you get to earn more rewards points than what you get in the regular program. With the express login, you also need to have a US Bank accounts in order to be eligible for the benefit of the cashback scheme. The online banking service is very popular nowadays and there are many people who use it in order to avail the benefits of amex.
One thing that you should keep in mind while using the cards is that you should not spend the money on your spending spree just for the sake of it. Instead, you should learn to spend it sensibly. The important thing here is that you learn to manage your money and should also learn to keep track of your spending. Amex reward card application does not automatically allow you to spend money without checking your subjective data along with the other necessary documents. This aspect is important if you want to avail the benefits of the scheme.
Amex reward card gives you a certain number of reward points per dollar that you spend. These reward points can be redeemed for gift cards, electronic goods, hotels and motels, gasoline, car rentals and other travel needs. The best part about using the reward points to purchase these things is that you can do the same thing again in order to earn more rewards points. This way, you can accumulate the points and once you get a certain number of reward points, you can simply redeem it to get the benefits of the card.