American Express and USAA
Jul 26th, 2006, 06:22 PM
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American Express and USAA
I just found out that USAA and American Express have an Alliance. I can get an Am Express card thru USAA with no annual fee.
What's the benefit of having an American Express card? Everyone takes M/C which is offered thru USAA. Are there some places that only take Am Ex?
What's the benefit of having an American Express card? Everyone takes M/C which is offered thru USAA. Are there some places that only take Am Ex?
Jul 26th, 2006, 06:26 PM
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One time a number of years ago, I nearly fell off my chair at a nice restaurant in Stockholm, when they informed me that American Express was the only card they took. I've had in happen a couple times in the US, but only that one time in Europe.
On the other hand I've seen dozens of places hand an AMEX card back to a customer in Europe and tell them they don't take it.
On the other hand I've seen dozens of places hand an AMEX card back to a customer in Europe and tell them they don't take it.
Jul 26th, 2006, 06:33 PM
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That is good to know because I have USAA. I use AMEX for points to get certificates. I use my AMEX at the grocery store, Costco, gas station, etc. Any place I would use my ATM that takes AMEX, I use it. I don't like the annual fee, though. I did not use it on my recent trip to Europe, though, only my USAA M/C.
Jul 26th, 2006, 06:45 PM
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USAA stands for United Services Automobile Association. It is available only to people who are or who have been at least an officer, I think, in the military. I was able to use USAA services from my dad who was USAF.
Jul 26th, 2006, 07:01 PM
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Several banks have begun to offer besides their usual Mastercard and visa cards Amex cards too..MBNA was one of the first and now that they're being absorbed into Bank of America, BofA will have an Amex card, Citibank has several different Amex cards including one tied in with American Airlines and now USAA.
Now I just fail to see any advantage of an Amex card...it is very very very rare (I noted one in this thread) that there are very many merchants who take Amex and don't take MC/Visa...but many many merchants will take MC/visa and not take Amex and as far as currency conversion, you don't get a break...the banks charge whatever their going rate for currency conversions are...so a Citibank Amex charges 3% (how it breaks down possibly but I'm not sure of is 2% by the Amex system and 1% added on by Citibank to level the playing field with its MC's and Visas....I suppose there are still a few (hopefully very few) who feel there is some sort of snob appeal with an Amex over a MC or visa...
Now I just fail to see any advantage of an Amex card...it is very very very rare (I noted one in this thread) that there are very many merchants who take Amex and don't take MC/Visa...but many many merchants will take MC/visa and not take Amex and as far as currency conversion, you don't get a break...the banks charge whatever their going rate for currency conversions are...so a Citibank Amex charges 3% (how it breaks down possibly but I'm not sure of is 2% by the Amex system and 1% added on by Citibank to level the playing field with its MC's and Visas....I suppose there are still a few (hopefully very few) who feel there is some sort of snob appeal with an Amex over a MC or visa...
Jul 26th, 2006, 07:37 PM
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I have used AMEX for many years in addition to MC and Visa.
1.They are vastly superior in customer service.
2. The foreign exchange rate is 2% while most others are 3%. Yes, I know you claim other banks are cheaper, but not around here.
3. There is no maximum on the card, so if an emergency happens, you will never max out the card.
4. Many insurance extras are included such as rental car insurance, automatic warentee extension, etc. Similar to those with MC or Visa Gold or Platinum cards but somewhat different.
5. Record keeping is superior. I can go online and print out a free record of all last years expenses broken down by type of expense or whatever. The detail of all charges is better than with MC or Visa.
6. Though I haven't used them in years, AMEX offices in major cities overseas offer a number of free services for members.
1.They are vastly superior in customer service.
2. The foreign exchange rate is 2% while most others are 3%. Yes, I know you claim other banks are cheaper, but not around here.
3. There is no maximum on the card, so if an emergency happens, you will never max out the card.
4. Many insurance extras are included such as rental car insurance, automatic warentee extension, etc. Similar to those with MC or Visa Gold or Platinum cards but somewhat different.
5. Record keeping is superior. I can go online and print out a free record of all last years expenses broken down by type of expense or whatever. The detail of all charges is better than with MC or Visa.
6. Though I haven't used them in years, AMEX offices in major cities overseas offer a number of free services for members.
Jul 26th, 2006, 07:45 PM
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tuscanlifeedit. I have had USAA for decades. It was until some years ago for Military officers current and retired. Than they opened up to nonofficers. Whether that includes retired military nonofficers I don't honestly know.
In the past anyone with a good credit rating could acquire a USAA Savings Bank Master Card or Visa car without having any connection to the military. Non military could also open up a checking a/c etc with USAA Savings Bank. But it was posted on here, perhaps by Budman? that that is no longer true as of June 30, 2006 I believe.
Lots of changes evidently with USAA.
One good thing for those that qualify for a USAA checking a/c is that they are use to dealing with service people that are all over the world so to speak. And they reimburse something like 10 or 15 (not sure which) ATM charges for any USAA checking a/c customer.
In the past anyone with a good credit rating could acquire a USAA Savings Bank Master Card or Visa car without having any connection to the military. Non military could also open up a checking a/c etc with USAA Savings Bank. But it was posted on here, perhaps by Budman? that that is no longer true as of June 30, 2006 I believe.
Lots of changes evidently with USAA.
One good thing for those that qualify for a USAA checking a/c is that they are use to dealing with service people that are all over the world so to speak. And they reimburse something like 10 or 15 (not sure which) ATM charges for any USAA checking a/c customer.
Jul 27th, 2006, 04:42 AM
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Hi B,
I have had an AMEX card for umpteen years.
Their customer service is top notch.
About the nicest thing that AMEX does is if you are a slow payer, they don't report it to the Credit Bureaus.
I have had an AMEX card for umpteen years.
Their customer service is top notch.
About the nicest thing that AMEX does is if you are a slow payer, they don't report it to the Credit Bureaus.
Jul 27th, 2006, 05:50 AM
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A few years ago in St. Paul de Vence there was a 4 star hotel that would only accept a American Express card. I am sure it was because there is no limit on the card. They probally got burned in the past with a customer that had a VISA or MC with a credit limit and had a difficult time getting paid.
I have also found that the American Experss card is not accepted in Europe as much as VISA or MC. I would take a VISA or MC or both for that reason.
I have also found that the American Experss card is not accepted in Europe as much as VISA or MC. I would take a VISA or MC or both for that reason.
Jul 27th, 2006, 06:10 AM
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"There is no limit on the card". Huh?
Good clients of mine do MAJOR business travel and entertaining in Europe (like a dinner party for 25 in a five star restaurant in Paris). A few years ago, he changed to an American Express Card with the assurance there was NO Limit. He filled out extensive credit reports showing that credit was clearly NO problem. His wife was buying a few things in Paris and was shocked to find her AMEX card was refused. Upon returning to the hotel, the husband called and had an insane discussion with the phone rep. He kept telling them that indeed there is NO limit, however, their account had been put on hold because there had been over $15,000 of charges in the past week (duh, yes, that's what they call major expenses). AMEX refused to release more credit until that amount was paid in full. They would not accept the cardholder's assurance that these were indeed legitimate expenses. There IS a limit in other words. The AMEX card was cut in half and never used again.
Good clients of mine do MAJOR business travel and entertaining in Europe (like a dinner party for 25 in a five star restaurant in Paris). A few years ago, he changed to an American Express Card with the assurance there was NO Limit. He filled out extensive credit reports showing that credit was clearly NO problem. His wife was buying a few things in Paris and was shocked to find her AMEX card was refused. Upon returning to the hotel, the husband called and had an insane discussion with the phone rep. He kept telling them that indeed there is NO limit, however, their account had been put on hold because there had been over $15,000 of charges in the past week (duh, yes, that's what they call major expenses). AMEX refused to release more credit until that amount was paid in full. They would not accept the cardholder's assurance that these were indeed legitimate expenses. There IS a limit in other words. The AMEX card was cut in half and never used again.
