Tech
Why Wealthy Americans Love AmEx
Armed with impressive rewards and a loyal customer base, Amex has achieved impressive growth over the years. The company’s revenue has increased over 32% since 2017 and shares of the company have shown resilience and growth in a tumultuous market. Yet Amex is far from dominating the credit card industry compared to the likes of Visa and Mastercard. So what is the secret to Amex’s success and where is it headed next? Watch the video to find out.
Produced by: Nathaniel Lee
Editor: Nora Rappaport
Supervising Producer: Lindsey Jacobson
Graphics: Alex Wood, Jason Reginato
Clarification: The card displayed at 6:03 should be the AmEx Platinum card, not the AmEx Delta Skymiles Platinum card.
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Why Wealthy Americans Love AmEx
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@alyschajohnson6668
December 20, 2023 at 12:51 pm
I want one!!:)
@OnlineMD
December 20, 2023 at 12:51 pm
Merchants in India hate Amex and won't take it 😢 Merchant fees are too high.
@killermobiledetailing2795
December 20, 2023 at 12:51 pm
Venmo and zelle are new leader in young and old lol bye bye credit cards by now pay later also
@msk3905
December 20, 2023 at 12:51 pm
Amex card holder for something like 25 years, I was raised that you don’t what you cant afford and think credit card debt is the worse most irresponsible debt you can carry explaining why Amex appealed. Over this time I have been impressed by them the customer service is top notch, I love the reward system. We went to CA on non stop flights (from east coast) and paid for nearly a week of hotel using points not to mention bought several gifts. I am a gold card holder now but giving serious consideration upgrading to platinum as my work stop reimbursing my travel perks.
@jazilzaim
December 20, 2023 at 12:51 pm
Amex is the Apple of the credit card industry
@FMD023
December 20, 2023 at 12:51 pm
Amex truly values loyalty. If you been with them they will treat u right
@ZipLineFine
December 20, 2023 at 12:51 pm
AMEX provides SUPERIOR , SUPER High Quality INCREDIBLE Customer Service.. AMEX Customer Service is in my TOP 5 !! When I contact AMEX, it's a breath of fresh air. First of all, there are no nightmarish Menu Options .. An actual , LIVE human answers the call. Then I pay , & 99% of the time AMEX accepts payment immediately. AMEX loves me. And vice versa… Of course one has excellent relationships with creditors when YOU maintain YOUR financial health . It IS YOUR financial health. Take care of it .. For these and myriad other reasons, AMEX is one of the TOP 10 companies in my SUPERIOR service list…
@jh1544
December 20, 2023 at 12:51 pm
They're customer service is really good.
@loopba
December 20, 2023 at 12:51 pm
i mean, not really. AMEX is basically trash recently. Some stupid coupon card
@jefferybaxter1225
December 20, 2023 at 12:51 pm
Overall, AMEX is good. They've been around for a long time. It's interesting on how they started out though based on what was mentioned one to two minutes into the video. The one blemish for AMEX is that they're not accepted at all businesses. Certain gas stations don't accept AMEX and certain restaurants don't AMEX. Couple other businesses too, but I mentioned gas stations and restaurants due to the fact that those two are more common for general credit card use. Primarily, AMEX isn't accepted due to the fact that their fees are too high. So far four maybe five business owners told me that same reason which is the fees for AMEX is too high. About five or six months ago one if them said that the fee percentage is 5%. Another blemish for AMEX is regular card holders don't have the option on making installment payments on balances. It's full payment and that's it. Their competitors Visa, Mastercard and Discover have full payment if the card holder wants to do it like that or like most of us, installment payments. Overall, more payment flexibility with the competition. Generally speaking, if AMEX had the payment flexibility and lower fees for businesses, I'm sure they would be number 1 right now as we speak.
@user-vc1ic5jd5j
December 20, 2023 at 12:51 pm
Крутое видео получилось
@jimbojimbo6873
December 20, 2023 at 12:51 pm
Amex is just fantastic, you can ask their employees the dumbest things on chat and they’ll help you.
They cost a lot to someone but to me I don’t think I’ll leave em.
@bradleygraves5915
December 20, 2023 at 12:51 pm
I LOVE my AMEX card and their support offices. International travel is much cheaper and more comfortable using the Platinum card.
@BLittles
December 20, 2023 at 12:51 pm
I was 25 years-old and my father died stares away. I forgot all my cards at home. When I landed, I called Amex to tell them what was going on. I was a green card holder at the time. They way they took care of me charged how I viewed Amex. They helped me figure everything out (hotel, transportation, etc.) They even tried to help me get a rental car without a physical card. They waived payments for 6 months. We carry platinum cards as well as use their high yields saving a accounts.
@spiralflame88
December 20, 2023 at 12:51 pm
I never got my sign-up rewards when spending a certain amount with Amex so I just paid off the balance and never touched it again.
@mysanaf8941
December 20, 2023 at 12:51 pm
what the heck. ive never seen a comment section so united, especially for a credit card of all things. is amex paying you guys or something? 😅
@truthinformant
December 20, 2023 at 12:51 pm
The best one is American Express
@malone5674
December 20, 2023 at 12:51 pm
As someone working in Amex this make me feel good
@davidking4779
December 20, 2023 at 12:51 pm
You need to divide your interest equally between users and business that accepts Amex. They charge more to businesses that accept their card.
@PaulVincentContreras
December 20, 2023 at 12:51 pm
The closed-loop system only applies to the US. The open-loop system applies when AMEX is outside the US.
@aznnp77
December 20, 2023 at 12:51 pm
Amex charges higher fees that Visa/MC I think. That's why some merchants don't accept it. During COVID, when I was furloughed, most credit card companies allowed you to skip a payment or so. Citibank allowed me to skip a payment no problem. JP Morgan Chase said you can skip a payment, but you'll have to use your one time (for life) hardship exception. American Express not only let me skip a payment, they even waived the interest fee for that month. The only thing I don't like about AMEX is that if you're paying for gas and swipe the card, they authorize $100 pending charge, and not the actual cost of the gas.
@dwiggins8925
December 20, 2023 at 12:51 pm
Love American Express ❤️ Wish I could work for them.
@DamianIacovino
December 20, 2023 at 12:51 pm
Accumulating wealth requires the cultivation of strong habits, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital but often overlooked subject, which can come back to haunt those who neglect it. Earning money is only one part of the equation; preserving and growing it is equally essential. The lack of formal education on investments in schools is a glaring omission. The instances you mentioned are illustrative, with the market crisis leading to my initial substantial gains. While many shy away from challenging times, I've learned to embrace them, or at least my advisor does, with a touch of humor.
@cryptojuan5897
December 20, 2023 at 12:51 pm
Not all places take Amex
@jaspreetmail
December 20, 2023 at 12:51 pm
American Express is an unethical organisation. I am currently working with it and my experience has been aweful. They are just selling plastic money with blue branding. In reality the organisation is hypocrite and doesn't follow the ethics and standards that it preaches.
@Alf-ff6zd
December 20, 2023 at 12:51 pm
I am poor with average credit so AMEX isnt for me. But All of my friends and family are absolutely obsessed with their AMEX platinum cards. It never ceases to amaze me how much men especially use it as a measuring stick 😂. It is such a status symbol, especially in the millennial generation. I personally don't have one, but I will be buying the stock to take advantage of what is clearly a bright future.
@polarsz2594
December 20, 2023 at 12:51 pm
just got the amex gold card at 19 years old excited for my future as a customer for Amex
@raywest3834
December 20, 2023 at 12:51 pm
Premium customer service, even in the most remote places, is how American Express stands apart.
@gregoryreinert9629
December 20, 2023 at 12:51 pm
“American Distress” -Dave Ramsey
@markseah
December 20, 2023 at 12:51 pm
only selected places accepts it here. doesnt make sense for small businesses since charges to them are higher, and volume of usage is not huge. A visa or master takes you anywhere!
@stischer47
December 20, 2023 at 12:51 pm
I have been an Amex card holder since 1981 when I finally earned enough to qualify, now a Platinum. I was traveling in Europe recently and realize my wallet was missing with two cards – Amex and Visa. I contacted Amex and it was taken care of immediately. Visa, however, started asking all sorts of questions that had nothing to do with the loss of the card. I stopped using the card.
@oskarjrbana
December 20, 2023 at 12:51 pm
My faforit AMEX is
@lagflag
December 20, 2023 at 12:51 pm
Nah! Not anymore the best customer service in the cards world
@Dfgbuiiyyyybb
December 20, 2023 at 12:51 pm
The biggest problem with Amex is that you can’t just leave home with ONLY your Amex because it is not as widely accepted as Visa or Master Card. I remember on atleast 2 occasions where I was traveling overseas in Hong Kong and my 2 places I went to didn’t take Amex but took Visa.
@tonyflags8968
December 20, 2023 at 12:51 pm
First of all. It’s not Ah-mex, it’s Ay-mex.
@crackkillspuppies
December 20, 2023 at 12:51 pm
I love Amex. They are generous with their limits. They have some great offers. Their customer support is always helpful and makes me feel appreciated as a customer. Amex beats out certain banks that are technically good because of the little things Amex does that makes me want to be loyal to them.
@kvall4088
December 20, 2023 at 12:51 pm
AMEX is the only card I use because I feel 100% secure that if there is a problem with a charge, they will address and solve it immediately.
@alexbrezny6108
December 20, 2023 at 12:51 pm
@1:13 Svb securities lol
@MediSpring
December 20, 2023 at 12:51 pm
I have an AmEx Payback card for free. I made an account at AmEx in 2019 to use Apple Pay with my iPhone. I never left AmEx since then. 🤷♂️
The green looks best, in my opinion. Unfortunately in Germany Amex doesn’t have so much acceptability.