Looking for the best American Express credit card? They’ve got a suite of cards to fit just about anyone’s needs. Though they have a reputation for catering only to the first-class-flying, wining-and-dining big spenders and businesspeople, they’re now branching out to suburbanites, families and even prepaid debit card users. Whether you’re a big spender looking for big rewards, looking for a business credit card to cover expenses, or your household’s resident grocery-shopper, read on to learn about the best AmEx card for you.
Blue Cash Preferred
If you’re the household grocery shopper, wardrobe specialist, or drive an SUV, this card will fit well in your wallet. The American Express Blue Cash Preferred is perfect for people who do a lot of “everyday” shopping. The card earns 6% at supermarkets, and 3% at department stores and gas stations. In all other spending areas, the Blue Cash gives 1% rewards.
The AmEx Blue comes with a $75 annual fee and offers a signing promo of $100 cash when you spend $500 in the first 60 days. The APR is 0% on purchases for the first 6 months.
Although the $75 annual fee may put some people off, we think the relatively high rewards rates will more than make up for it in most households. The Blue Cash Preferred’s fraternal twin, the Blue Cash Everyday, has no annual fee, but we think its significantly lower rewards rates (3% on groceries, 2% on gas and department store purchases, and 1% on everything else) makes the Everyday less desirable overall.
SimplyCash Business Card
The SimplyCash Business Card offers highly competitive rewards in several common expense categories. Enjoy 5% cash back on office supply purchases and wireless services and 3% cash back on automobile gasoline. On all other purchases, the rewards rate slumps to 1%. Still, no other card can beat the 5% you earn on office supplies and wireless services. This may be a time when having more than one card to cover different types of business expenses will bring you out ahead.
Cash back rewards are credited to your monthly statement, so you don’t have to rack up a certain number of points, or worry about remembering to redeem your rewards. On top of the SimplyCash Business Card’s standard rewards rates, you can automatically save up to 10% on business expenses at stores like OfficeMax and FedEx, among others. There is an introductory APR of 0% on purchases for the first 12 months.
The Platinum Card
If you’re the high spending, world travelling type, this may be the travel credit card for you. The American Express Platinum offers a slew of rewards for the right type of consumer. At a flat rewards rate of 1% on purchases, the Platinum doesn’t seem exciting at first glance, and with an annual fee of $450, it doesn’t come cheap. Still, the Platinum delivers in ways that other rewards cards don’t.
To start with, the American Express Platinum Card offers 25,000 membership rewards points when you spend $1,000 in the first 3 months. These bonus points alone can be redeemed for one domestic coach-class airline ticket.
And it’s travel where this card really shines. AmEx Platinum cardholders get a free Priority Pass lounge access membership, which gets them into 600+ airport lounges worldwide. In addition, there are no foreign transaction fees, and you receive a credit toward the Global Entry program, which allows you to skip customs lines.
Cardholders also receive assistance with reservations and travel gifts through the 24/7 Platinum Card concierge service, as well as amenities and upgrades at over 700 luxury hotels, resorts, and boutiques around the world.
Finally, by registering your favorite airline with AmEx you can receive up to a $200 refund yearly on airline incidentals. Are you racking up checked luggage fees? Did you get stuck with a charge when you had to make a last-minute flight change? As a Platinum cardholder, you’ll be refunded for up to $200 in fees.
The Starwood Preferred Guest
The Starwood offers one of the best rewards rates for frequent hotel guests – if you redeem for Starwood nights, your rewards rate can top even the vaunted Capital One Venture’s. So if you’re a big traveler, and don’t need all the extra perks afforded by the Platinum, read on. Unlike the Platinum’s high annual fee, the Starwood comes in at $65 per year (waived the first).
Since you only get 1 Starpoint per $1 spent as a base rate, how can you get a better rate than the 2% CapOne Venture? We value Starpoints at 2.3 cents each on average, though they can be worth up to 5 cents. Going off that valuation, your base rate jumps to 2.3%, and the signup bonus looks all the better.
After making your first purchase, the Starwood Preferred Guest offers 10,000 bonus points, along with an additional 15,000 points if you spend $15,000 in the first 6 months. Since we value Starpoints at about 2.3 cents apiece, that bonus is worth $575. Points may also be redeemed for flights on over 350 airlines, and unlike most hotel programs which significantly devalue your points if you redeem for miles, you still get a better-than-average 1.25 cent value on your Starpoints. Keep in mind that the highest rewards rates come from spending at luxury hotels and resorts, so consider what type of traveler you are before choosing this card.