Quite frequently on my individual blog, I concentrate on the very best travel credit cards. it does not make sense at all to utilize a charge card that bills you 19.99% interest if you’re constantly carrying a balance on your credit cards.
Fortunately, you will find a low interest rate, balance transfer charge cards available to help you lower your debt. Read my American Express Essential charge card review now to discover why this card is really a champion.
American Express Essential Charge Card Benefits
- ·No annual fee
- ·1.99% interest rate on balance transfers for the first 6 months
- Interest rate of 8.99% on purchases and cash advances
- ·Access to American Express Invites
- ·Buyer’s assurance
- ·Purchase protection
- ·Travel accident insurance
If you wish to reduce the quantity of interest you’re having to pay, you will want to honestly think about the American Express Essential credit card
On your online application, you have the option to do a balance transfer with interest of 1.99% for that first months. Following the marketing period ends, your rate of interest rises to 8.99% that is incredible because most charge cards charge much greater rates.
Put simply, if you are using card with a greater rate of interest, you should exchange it to the American Express Essential charge card and make use of the balance transfer option.
Other benefits are limited, but it is an American Express card after all, you have the privilege access to American Express Invites including items like special seating at concerts, advance film screenings, and exclusive dining encounters.
Purchase protection covers you against loss, thievery, and damage for that first 3 months while buyer’s assurance doubles your manufacturer warranty up to one additional year.
Finally, travel accident insurance coverage is also incorporated and provides a payout of $100,000. Not that you’d ever wish to declare that.
How the American Express Essential compares to other cards
Probably the most comparable card towards the American Express Essential charge card may be the MBNA True Line Mastercard. Using the MBNA card, the total amount transfer rate of interest is 0% for that first 6 months, however it increases to 11.99% after the marketing period ends. there’s no annual fee either.
MBNA also provides an MBNA True Line Gold Mastercard which has a yearly fee of $39, but interest rates are just 8.99% following the marketing period.
Remember that the rate of interest of the American Express Essential credit card can increase to 23.99% and/or 26.99% should you miss pay your debts multiple occasions.
Final thoughts
My American Express Essential credit card review is positive. The credit card is ideal for individuals who’re searching to lower their debt or the quantity of interest they pay each month. The incorporated American Express Invites is really a perk that’s frequently overlooked, but cardholders will like it.