American Express Secured Credit Card

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A card that has been ranked as the most powerful plastic card in the world is American Express, or frequently abbreviated as AMEX. Besides the card, American Express also made it as one of 22 top brands in the world, according to surveys conducted by top business magazines. You can choose American Express Secured Credit Card among all the credit cards American Express offers.

How powerful is American Express Credit Card, exactly? To give an example of its power, it is said that American Express card can replace your passport when travelling to any country in the world. In case you lose passport while travelling, everything can be resolved by showing the American Express card.

Can You Get an American Express Secured Credit Card?

Unfortunately, American Express does not specifically issue a secured credit card. Instead, it supports a card to run on its system. This card is called as the USAA Secured Card.

This USAA Secured Credit Card is the only card supported by American Express. It requires a minimum-security deposit of 250 dollars and a maximum of five thousand dollars. It has an interest rate of 9,90 percent. When applying for this card, you don’t have to pay any application fees. There are no reward programs.

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Don’t think this alternative to American Express Secured Credit Card don’t have benefits, because it provides emergency assistance when you need it. If you need help on the road, you will be assisted. It also offers concierge service.

This great alternative to American Express Secured Credit Card also covers all payments that have to be made when a collision of theft happens to a rented vehicle. This way, you don’t need to worry too much about the risks of renting a vehicle.

Other benefits you can get from this American Express Secured Credit Card alternative is a travel accident insurance. When you embark on a journey and get any injuries, having this card will help you get the suitable treatment. It covers up to 1 million dollars.

However, if you trust American Express Bank more than anything else, you can get one of the two different reloadable prepaid cards they offer: bluebird card and Serve. Keep in mind that these two are not American Express Secured Credit Card.

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It is more recommended to get a secured card from a different issuer rather than getting a prepaid card from American Express, if your goal is to build your credit score. When you get a prepaid card, you will have to pay an annual fee.

In addition, this American Express Secured Credit Card, however, has several disadvantages. First, it has an annual fee that is pretty high compared to other credit cards. This card’s annual fee is $35, the other cards’ annual fee ranges from nothing to $20.

Well, apart from the disadvantages, this American Express Secured Credit Card is still recommended for those who are eligible and ready for the consequences. American Express is one of the best banking services providers, after all.