Most probably you have already talked about American Express credit cards, right? Well, we have a very interesting new product if you are looking for a card with numerous benefits and easy approval, the American Express Low Rate Credit Card.

The entry-level American Express Essential Card has a $100 statement credit on offer for new Amex Card Members. It is a no annual fee offering that earns Membership Rewards points on spend and offers a range of insurance options for consumers.

Want to know more? Stay with us until the end of this article and see all the benefits this card will offer you and how to get approved faster.

American Express Credit Cards

American Express is a big global brand that’s known for offering generous rewards and perks. In Australia, you can get an Amex credit card linked to the Qantas Frequent Flyer, Velocity Frequent Flyer and Amex Membership Rewards programs. It also offers a cashback credit card and low rate card – plus plenty of options for business owners. In 2021, it won 3 Finder Awards for its credit cards: Best Frequent Flyer, Best Low Rate and Best No Annual Fee.

The Low Rate Credit Card from American Express

Here are some of the main points of the Amex Low Rate Card:

• Enjoy a low 8.99% p.a. interest rate on purchases;
• $0 annual fee for as long as you have the card;
• Up to 55 days interest free.

This card will likely suit those:

• Who are averse to cards with high annual fees and are looking for a no or low annual fee card that still earns rewards points;
• Who may not meet the income threshold for premium credit cards;
• Where the higher cost of a premium credit card outweighs the benefit of the card’s additional features, due to your income or spending being too low to either use these features or obtain maximum value from them;
• Those who want to start earning points from their credit card spend with little risk.

The card has no annual fee and up to four additional card members at no extra cost.

It also comes with American Express’ card refund and card purchase cover meaning that Amex will repair or refund the cost of eligible items bought on the card that are damaged or stolen within 90 days of purchase. There is also up to 55 days interest-free on purchases.

This is not just a low purchase rate – it’s Amex’s lowest, and will usually be among the lowest credit card rates available in Australia at any point in time, if not the lowest. It’s definitely aimed at a different part of the market from the company’s other cards, which have a normal carried-over purchases interest rate of more than 20% p.a.

You’ll get 90 days of cover against loss, theft or damage of purchased items, with a maximum of $2,500 per claim ($20,000 maximum in a year) and a $50 excess. Additionally, there’s useful protection against retailers refusing to accept unused goods for return within 90 days, if you change your mind, for example, or find that a gift is duplicated. If the retailer won’t take the goods back and give you a refund, Amex will (with a maximum of $500 per item, $2,000 per year).

Other benefits of American Express

Beyond points, this is where American Express is trying to innovate a little with this card – primarily the Smartphone Screen Cover is unique in the market as a credit card insurance offering, and it will cover you for screen repairs up to $500, with a 10% excess on the claim.

For those with slippery fingers or pockets with no other insurance that would cover this (like your home and contents) then this could be worth a few hundred dollars in case of breakage.

Otherwise, there are also insurances like:

• Card Purchase Cover – covering breakage or theft of an item up to 90 days after purchase;
• Buyer’s Advantage Cover – extending the manufacturer’s warranty on items;
• Card Refund Cover – if you’re refused a refund on an unused item within 90 days of purchase.

How to increase your chances of approval

Read the information in this article until the end, because it has five very important instructions for filling out applications.

The first instruction is to never abbreviate the initials of your last name and part of your address. For example, if your last name is “Hanson”, write it correctly, without abbreviations. In the case of the address, if it is large, write all parts in full as well.

The second instruction is for you to pay close attention to the numbering of the documents. Incredible as it may seem, more than 34% of the fillings of bank proposals have some numbering error and this type of data divergence can lead to a failure on the spot.

The third instruction is never to lie about the data you fill out, because the bank knows more about you than you do yourself, and lying about the information you provide will not help you at all. So be honest.

The fourth instruction is to use the data that are in the official documents. Many people get married, separate, change their last name, may be in the process of a union, or of separation, and still haven’t made their situations official, using names that are different from the official documents.

In this way, what matters to the bank is the documentation in effect on the day of the request, because a possible inconsistency of data, will consequently reprove your registration.

The fifth instruction is for when you get to the end of filling out the form, for you to review ALL the fields filled out, such as: name, apartment, phone number, among others.

When you fail to fill out these fields, or fill them out incorrectly, not only will your registration not be approved, but your card may be returned and you will be damaged. Therefore, if you follow these five steps, you will greatly increase your chances of approval.

Request your card by clicking the button below.

Por Redação Formoney agosto 22, 2022

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