The Benefits Of AmericanExpress and Good Credit

By Gavin | July 26, 2018

The Benefits Of AmericanExpress and Good Credit

Hi, Jesse Rodriguez here, and I want to share a quick pro credit tip with you today. 

I'm going to talk about American Express and how that can benefit you and give you extreme security as a consumer. Now, at the same time American Express can also be a nightmare. If you're a business owner and most business owners know and understand that. But, it's a real blessing for consumers. So, I'm going to explain why that is for a business. 

American Express charges higher transaction processing fees typically anywhere, from two point seven five percent to four percent per transaction. That is swiped. So that's a lot of money compared to a Visa or a MasterCard. Where you can swipe it? For one to one and a half percent, but American Express is actually, the most secure form of payment in my personal opinion. For a consumer because, if a consumer didn't receive exactly what they were promised through a product a system or anything. That they paid for on that American Express card. They can call American Express and file a charge back an American Express is actually going to fight for you the consumer to make sure that you get your money back. Now, for a business that can be a nightmare especially, if you aren't living in integrity and doing what is promised, because you're going to get the savvy consumer paying with an American Express card and if you don't deliver upon your promises, you're going to get a charge back and not only do you still have to pay those two to four percent merchant processing fees. You're going to have to refund the client. All of their money and when American Express files a charge back, it's really hard to reverse that. Now, any credit card has the ability to file a charge back which is where you file a dispute or a complaint with the bank. That holds that credit card and they temporarily refund your money. While, there's investigation period, but in my personal and professional opinion, American Express has the most hardcore charge back program and so if you're a business you want to operate in integrity. If you're a consumer, you want to have an American Express card to help protect you in case. 

Somebody doesn't deliver upon their promises, I hope that was helpful and I look forward to giving you more information in the near future.