Compare American Express credit cards
Virgin Money Virgin Australia Velocity Flyer Card (Balance Transfer Offer)
Balance Transfer0% p.a. for 22 months on balance transfers. Earn 3 additional bonus Velocity Points per $1 on your everyday spend in the first 3 months (capped at 10,000 points per month).
American Express, commonly known as AMEX, is a multinational financial services corporation headquartered in New York.
AMEX is the world’s largest credit card issuer by purchase volume. Alongside AMEX credit cards, the company provides personal financial products such as travellers’ cheques, as well as business and corporate financial services.
American Express has a corporate office in Sydney and various currency exchanges around Australia, but no dedicated customer service branches. ATM access is available through AMEX’s network of partner ATMs.
American Express credit cards rates
- Variety of rewards programs
- Low interest rate option
- Low-fee option
- Interest-free days may be moderately low
- No balance transfer offer on some cards
- High rates on some cards
About American Express credit cards
American Express offers a variety of credit cards, ranging from standard credit cards to platinum credit cards. Within its range, AMEX has low-rate credit cards, low-fee credit cards, frequent flyer credit cards and rewards cards.
AMEX credit card rates and fees range from low to high based on the type of credit card. For example, its low-rate credit card has a low interest rate and no annual fee, while its Qantas and Virgin Velocity frequent flyer cards come with high interest rates, and fees tend to be higher.
American Express frequent flyer cards allow cardholders to earn frequent flyer points for spending, and its other rewards cards enable customers to redeem earned points for rewards such as David Jones gift cards and cash back.
Some American Express credit cards come with an introductory 0 per cent balance transfer rate and allow free supplementary cardholders.
American Express credit cards review
Despite not having bank branches in Australia, American Express is nonetheless a well-known and relatively widely-used credit card provider. As such, it provides a diverse range of credit cards to suit different needs.
The two types of customers who are likely to be drawn to American Express credit cards are those looking to cut down on interest rates and fees, and those looking to earn rewards or frequent flyer points for spending.
While some AMEX cards offer value for money through lower rates and fees or rewards, keep in mind that many retailers in Australia add a surcharge to purchases made with American Express cards - which may end up costing you more in the long run.
In terms of rewards, though, AMEX offers plenty of flexibility, as different rewards programs are tailored to suit different types of rewards, such as frequent flyer points, gift cards and cash back.
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
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If you’ve recently used your credit card to pay for something over the phone or online, you would have been asked to provide a CVV number. CVV stands for ‘card verification value’, and is also sometimes referred to as a CVC or card verification code.
A CVV code is usually needed when the card is used online or over the phone as an anti-fraud measure. Without the cardholder being physically present to sign or verify the purchase, the CVV provides an extra layer of protection.
If you’re using Mastercard or Visa, the CVV is usually three digits and is located on the back of the card. If you’re using an American Express, the CVV is usually four digits and is on the front of the card.
The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers: Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.
Credit cards are a personal responsibility, so the reasons behind getting a credit card should also be personal.
You should always consider all the pros and cons of taking out a credit card before you sign on the dotted line.
For example, pros include the fact that credit cards can be a good way of paying for purchases, earning rewards points and building a credit history.
But there are also cons – credit cards can be expensive and put a lot of financial pressure on you.
You need to consider your personal finances and your lifestyle choices. Do you need a credit card? What options are out there for me? Can I handle the repayments? Why am I getting a credit card in the first place?