Credit Card benefits
Need a little help for a big purchase? Or just a safe and easy way to make every-day transactions? A credit card offers a convenient way to make worldwide purchases without cash; extending a line of credit that you pay back later.
What are the advantages of having a Credit Card?
Increased buying power, cashback and purchase protection – these are just some Credit Card advantages for Cardmembers. Whether you’re eyeing up a big buy or looking to build your credit score, discover how a Credit Card could enhance your financial flexibility.
Use a Credit Card to build credit
By showing how you manage your credit on a regular basis, when used well, Credit Cards could help you build your credit and credit score. Using your Card regularly and making all repayments on time demonstrates financial responsibility to lenders.
Boost your spending power
With a Credit Card, you’re not limited to the amount in your current account. When used responsibly, Credit Cards can increase your spending power, allowing you to cover big-ticket items when you need them; paying back the balance over time in more manageable instalments. And remember, those larger purchases mean more rewards points.
Enjoy Credit Card rewards
Many Credit Cards allow you to earn rewards with every purchase made on your Card. With an American Express® Rewards Card, these rewards could be anything from cashback, air miles or rewards points, which can be spent on retail and travel treats as well as other special experiences.
Earn Cashback with your Credit Card
Cashback is a Credit Card benefit that allows you to earn money back on the things you buy with the relevant Card. It’s like getting a small rebate on eligible payments – a straightforward way to earn cash rewards for your everyday
purchases; big and small.
With an American Express® Cashback Credit Card, every time you make a purchase on this Card you’ll receive a percentage of that transaction back as a reward. The more purchases you make, the more cashback you can earn. This then accumulates in your Account and is paid to you as a statement credit every year, around the anniversary of your Account opening.
Get security with Credit Card protection
From Account monitoring to online safety protection and fraud alerts, you're in safe hands with American Express, meaning you can shop confidently. Read more on our Card security features here.
American Express Cards also offer 90-day Purchase Protection. That means if your eligible item is either stolen or accidentally damaged up to 90 days after you've bought it, we'll reimburse you up to £2,500.
Collect air miles
Love to travel? Air Mile Credit Cards can take you places, allowing you to earn Frequent Flyer points on every purchase, that can be redeemed for flights, hotel bookings and car hire. Many Credit Cards also offer luxury travel benefits, such as complimentary lounge access and travel insurance.
American Express Cards can be used around the world – the ultimate travel companion.
Benefits of having multiple Credit Cards
- Maximise your rewards. Different Cards have different benefits, allowing you to adapt your use and reap rewards that suit your lifestyle.
- Increase the credit limit available to you, which could be useful in emergencies.
- Lower your credit utilisation rate. A high credit utilisation rate could indicate to lenders that you’re relying on credit. This is calculated as a percentage by dividing your total debt by your total available credit. It’s recommended that your rate stays under 30%.
Disadvantages of multiple Credit Cards
- Keeping on top of multiple Cards could become confusing and lead to a build-up of debt. While having more than one Card can aid your credit utilisation score, remember that it could also negatively impact it, if spending and repayments aren’t carefully monitored.
- Applying for multiple Credit Cards in short succession could negatively impact your credit score.