The American Express Company is the American multinational and banking services that have its headquarters in the New York City. The company is best known for its charge card, traveller’s cheque, and credit cards businesses. It has revolutionized the art of banking with futuristic technology and commendable customer support services.
Here we will talk about the American Express Banking structure along with the insurances, loans, credit cards and debit cards offered by the American Express Bank.
Credit Cards offered by American Express Bank
The American Express offers various types of credit cards for the benefit of their customers worldwide. The Company offers the credit cards to those who are above 18 years of age and have a multinational or current or savings bank account in India. To be eligible to become a holder of American Expresses’ credit cards you should have a good credit history, be self-employed and have a permanent address in India. Enlisted below are six of the most popular American Expresses’ credit cards along with their unique features.
- Earn 4,000 bonus ‘Membership Rewards Points’ on using this card thrice within first two months of membership on payment of the annual fees.
- Earn 1,000 bonus ‘Membership Rewards Points’ by using this card at least 4 times for transactions worth Rs.1000 and more every month.
- Earn ‘Membership Rewards Bonus Points’ of 5000 on the renewal of ‘First Year Card’ by the payment of the ‘annual membership’ fee. The points should be credited within 3 months of the renewal of the card.
- You can redeem from the fantastic 24 carat or 18 carat ‘Gold Collection.’
- You can pay off huge purchases with this credit card in EMI.
- With the help of this credit card, according to the ‘Monthly Blockbuster’s Programme’ earn film vouchers of Rs.2000 per month.
- With this card earn 5,000 ‘Milestone Bonus’ Membership Rewards Points that are redeemable for the ‘travel vouchers’ for Rs.4000.
- After the expenditure of Rs. 1.9 lakhs per year get the ‘Travel Vouchers’ of Rs.7, 700 or more.
- By spending Rs.4 lakhs every year, get travel vouchers of Rs.11,800 as well as a voucher of Rs.10,000 from ‘Taj Group.’
- With this card gain access to airport lounges in 29 cities all over India including Mumbai, Delhi, Bangalore etc.
- With this credit card, you can earn welcome gift of two ‘MakeMyTrip’ vouchers of Rs. 1000 worth each for the cards applied after 15thFebruary 2016.
- Gain access to about 28 airport lounges (domestic) all over India in 11 cities.
- Earn ‘5% cashback’ on the ‘MakeMyTrip’ bookings.
- Enjoy about 70% cashback on the hotel bookings that are made through MakeMyTrip.com until the 30th of September,2017.
- Get a voucher of ‘MakeMyTrip’ of Rs.2000 by spending Rs.1.25 lakhs and additional voucher of rs.5000 on an expenditure of Rs.2.5 lakhs per year.
- According to the ‘Monthly Blockbusters Programme’ earn the film voucher of Rs.2000 per month.
- Enjoy the 11,000 ‘Membership’ reward points as the joining bonus.
- Enjoy various privileges at the Taj Hotels, Palaces, and the Resorts as well as the Oberoi Hotels and the Resorts.
- Enjoy a cashback of Rs.10, 000 at the MakeMyTrip.com.
- Enjoy the ‘complimentary membership’ for the ‘Priority Pass’ with US$99 membership fee annually waived off.
- Enjoy complimentary entry to the domestic lounges and the “American Express” lounge all over India.
- Enjoy wellness and special health benefits from the MaxHealthcare,Fortis Healthcare, and the ‘Texas Medical’.
- Gain complimentary entry to the golf courses all over India.
- With the ‘American Express Selects’ dining programme enjoy the ‘culinary journeys’ with the “Taj Epicure” membership.
- With the “Monthly Blockbusters Programme” earn film vouchers of Rs.2000 per month.
- With the help of this credit card make huge purchases and pay off in EMI.
- You can enjoy 10,000 bonus points as a joining gift along with JP Miles and complimentary one-way ‘Jet Airways Domestic Ticket’ waived off the first charge.
- Enjoy access to about 13 airport lounges all over India in 11 cities.
- Enjoy the ‘iPrefer Elite Tier’ membership from the Preferred Resorts and the Hotels.
- Enjoy your vacation with complimentary night stay hotel tickets at the selected properties of the Oberoi Resorts and the Hotels.
- Enjoy around the clock ‘Platinum Concierge Services.’
- With the help of this credit card earn the monthly film vouchers that have worth of Rs.2000.
- For an expenditure of Rs.100 earn the multiple points from over ‘40 PAYBACK partners’ as well as ‘3 PAYBACK Points’ from the ‘American Express’ PAYBACK credit card.
- Within 2 months of approval of the card earn about 900 PAYBACK Bonus Points on an expenditure of Rs.15000.
- With the help of this credit card enjoy enticing discounts on online shopping, dining, and travel.
- You can even enjoy huge discounts on fuel with the help of this credit card.
Loans offered by American Express
The American Express offers a host of loans to all its valuable customers. The process of applying for the loan is a simple one.
- The ‘American Express Personal Loans are the unsecured loans that are offered only to the approved ‘American Express Card’ members. This type of loan is used for the family, personal and the household purposes, such as home renovations, huge purchases, and the crucial life events.
- To apply for the ‘American Express’ personal loan, you have to be 18 years of age and a basic member of this card and have a good status with the “American Express” during the time of application.
- The business loans are offered only to the pre-approved ‘American Express’ business card members.
- There is no pre-payment penalty or origination fee
- It is a simple process of application.
Insurances offered by American Express
American Express provides a couple of insurance schemes to all its valuable customers. Some of the most popular ones the bank offers are the following:
- The American Express offers three solutions for travel insurance, such as a single trip, multi-trip, and student travel insurance.
- In the case of the single-trip plan you just have to pay for the days, you are travelling. It offers a cashless settlement of claim all over the world with the international medical network for the preferred hospitals.
- The single-trip plan provides the concierge services for the dependents. It even covers the domestic expenses that are damage or loss to the home property during your abroad trip.
- The multi-trip travel insurance is for the business or the leisure travellers and covers an amount of USD 500,000.
- The comprehensive 12–month policy of the ‘multi-trip travel insurance’ covers the journey of about 2 months.
- The multi-trip travel insurance is valid internationally for multiple trips.
- o The ‘Student Travel Insurance’ plan from the ‘Bharti AXA General Insurance’ offers comprehensive cover for the education of students abroad and provides financialprotection and treatment for nervous disorders that includes drug dependency and alcohol.
- This insurance from the ‘Bharti AXA General Insurance’ offers cashless servicing at the 2500 ‘network garages’ all over India.
- With this insurance, you can avail 24/7 road-side help cover.
- You can even customize the plan with an array of add-on covers such as gear-box and engine cover, nil depreciation, invoice-price and many other covers.
- The American Express offers two types of health Insurance Plan,the ‘Hospitalization Plan’ and the ‘Critical Illness Plan.’
- The ‘Hospitalization Plan’ covers about Rs.10 lakhs and the pre-existing diseases are covered in this plan after the second renewal.
- The ‘Hospitalization Plan’ offers OPD benefit on a sum of Rs.5,00,000, Rs.7,00,000 or Rs. 10,00,000. It even offers ambulance cover of Rs.15,000 for every hospitalization.
- The ‘Critical Illness Plan’ covers about Rs.25 lakhs.
- The major diseases that are covered under the ‘Critical Illness Plan’ are thestroke, myocardial infarction, paralysis, kidney failure, cancer and much more.
- The ‘Personal Accident Insurance’ covers an amount of Rs.50 lakhs along with the inclusions of the ‘Domestic Accidents.’
- The Personal Accident Insurance’ even covers loss as a result of riots, terrorism, and strike. It requires easy claim process with minimum documents.
Debit Cards Offered by American Express
- With this prepaid debit account, there is no credit check, minimum balance or hidden fees.
- You can do free withdrawals in more than 24,000 ‘MoneyPass ATM’ locations all over the country.
- You can also do online free ‘Bill Pay.’ You just need to write the online check and American Express would mail it to the person you have to pay.