Hi all im not the smartest person clearly. lol pretty young in fact. im wondering with American express do you need a credit card? and if not should I get a credit card or American express?
Im very confused and dont understand any of it, im with CUA but not with credit card. if I change to a credit card do I get fees and how much does it cost? sorry just need some help.
Some cc have a sign on bonus, eg if you qualify for the card because you earn whatever they say is the minimum, you would get some bonus frequent flyer points. If you plan to take a plane anywhere, they are useful. Some cards then give you say 1 point per 1 dollar that you spend.
Can you provide some idea of how much pa you plan to put on the card? Eg all your spending, on bills, insurance, food, restaurants etc.
Also, have a look on ozbargain for the ANZ deal,that is current, min $75K income.
Be sure to do a big research until you actually understand what a credit card is, before you get yourself into financial trouble.
A credit card (of any brand) is basically a short term loan from the bank to you (typically up to $5,000 but it varies). Since this gives the bank the chance to charge you fees and interest if you don't pay them back quickly, they often come with promotional deals or aligned with points schemes. Most banks won't issue you a credit card without a regular income (ie a job) and proof that you are capable of making regular payments (like phone or electricity bills, or rent). Banks may offer credit cards from Visa, MasterCard, American Express, JCB, Discover, Dinner's Club… Most banks offer Visa OR MasterCard, and American Express.
Incidentally, some shops charge an extra surcharge for credit cards over standard EFTPOS (put in card, press debit, enter pin), and some add an additional fee for American Express. Some small shops won't take American Express (although this is rarer now).
Most banks now offer either Mastercard or Visa debit cards. These allow you to use them like credit cards (online, at credit-only paypoints) but just take the money from your regular bank account. If you're young, not sure about your ability to make regular payments, or not good at controlling your spending then this is the option for you.
The question is: why do you want a credit card? If you make lots of regular payments from a credit card (bills etc) and they pay the credit card off quickly, you can take advantage of the points deals or cashbacks or whatever very well. But if you're young (ie not many bills) or financially unstable (ie not able to pay off quickly/reliably) then this is probably not for you.
Every credit card always has association with one of the 3 major financial companies: they are VISA, MASTERCARD, AND AMERICAN EXPRESS.
What you are asking is if you should get AMEX credit card or any other credit card (visa or mastercard).
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