American Express Credit Cards

American Express Credit Cards 

American Express is a brand that is recognized all around the globe. Founded in 1850 and headquartered in New York, American Express – or Amex as it is more commonly known, was estimated to have assets worth a staggering USD 181 billion in 2017. American Express found international success as early as 1891 with their line of traveler’s cheques. The company would later go on to offer the incredibly famous line of American Express charge cards and American Express credit cards.

But besides offering global incentives through the impressive range of American Express credit cards in UAE, Amex also functions as one of the largest credit card payment networks in the world, rivalled by organizations such as Visa and MasterCard. American Express currently has the 4th highest number of credit cards in circulation all over the world. Currently, American Express credit cards are seeing a huge boom across the Middle East & North Africa (MENA) region.

Types of American Express Credit Cards

Presently, Amex offers 3 types of personal American Express credit cards in UAE and 2 types of corporate American Express credit card. The Amex credit card types are as follows:

1. Personal Cards

The personal line of American Express credit cards in UAE are catered to individual spending requirements and offer a variety of incentives from day to day discounts to travel benefits and more.

a. Dubai Duty Free American Express Credit Card

Annual Membership Fee: AED 175

Minimum Annual Income Required:

a. For employed applicants: AED 180,000

b. For self-employed applicants: AED 275,000

c. Retail Interest (Monthly): 3.25%

Benefits:

i. Use the American Express credit card in Dubai Duty Free stores for discounts of up to 10% across shopping items. The full list of applicable discounts can be found online.

ii. This American Express card allows entry into two high-powered lotteries:

  1. By spending AED 500 with the American Express credit card in Dubai, cardholders can gain entry into the Finest Surprise lottery each month. The lottery prize is a brand new luxury car.
  2. By spending AED 1,000 with the Amex credit card, customers earn the chance to win a ticket for the Millennium Millionaire lottery.

iii. Any new purchases made with the American Express credit card in UAE are eligible for purchase protection, which offers a maximum insurance amount of AED 1,500.

iv. Owners and supplementary members of the American Express credit card are provided complimentary travel insurance, which includes travel assistance and emergency medical covers.

v. The card offers great deals through the American Express Selects program. Customers can use their American Express credit card in UAE to avail a variety of offers across travel, dining, shopping and entertainment sectors. The available American Express Selects offers can be found online.

vi. Unlimited free of charge supplementary Amex credit cards for family members above the age of 15.

b. American Express Gold Credit Card 

Annual Membership Fee: AED 395

Minimum Annual Income Required:

a. For employed applicants: AED 180,000

b. For self-employed applicants: AED 275,000

c. Retail Interest (Monthly): 3.25%

Benefits:

i. As owners of the Gold American Express credit card, customers can opt-in for the Membership Rewards loyalty program for a nominal annual fee of AED 95. The cardholder earns 1 Membership Rewards point for every USD 1 equivalent spent on the Gold Amex card. Membership Points can be redeemed for flight tickets, ticket upgrades, hotel reservations, retail shopping vouchers, charitable donations and more. The full range of offers applicable to the Gold Amex credit card can be found online.

ii. The card offers great deals through the American Express Selects program. Customers can use their American Express credit card in UAE to avail a variety of offers across travel, dining, shopping and entertainment sectors. The available American Express Selects offers can be found online.

iii. The Gold American Express credit card gives the primary cardholder and 1 supplementary cardholder access to 1,200+ airport lounges across the globe. The complimentary passes can be availed 5 times a year. The full list of airport lounges may be found on the Priority Pass app and online.

iv. Complimentary travel insurance, which offers owners and supplementary members of the American Express credit card in UAE a cover of up to AED 350,000 for travel accidents and AED 4,000 for travel inconveniences.

v. Any new purchases made with the American Express credit card are eligible for purchase protection, which offers a maximum insurance amount of AED 3,000.

vi. Up to 9 free of charge supplementary American Express credit cards for family members above the age of 15.

c. American Express Platinum Credit Card

Annual Membership Fee: AED 700*
* Owners of the American Express Platinum credit card are eligible for a complete waiver on their annual membership fee via the FeeBack The FeeBack program is further discussed in this Amex card’s ‘benefits’ section.

Minimum Annual Income Required:

a. For employed applicants: AED 255,000

b. For self-employed applicants: AED 275,000

c. Retail Interest (Monthly):3.25%

Benefits:

i. The FeeBack program awards owners of the American Express Platinum credit card with a full waiver of the annual membership fee, on meeting a minimum spending requirement. The cardholder receives a waiver on the first year’s fee when they use the American Express credit card for purchases amounting to AED 10,000 within the first three months. The cardholder can earn waivers on the following years by meeting an annual minimum spend requirement of AED 40,000.

ii. As owners of the American Platinum Express credit card, customers are automatically enrolled in the Membership Rewards loyalty program. The cardholder earns 2 Membership Rewards points for every USD 1 equivalent spent on the Platinum Amex card. Membership Points can be redeemed for flight tickets, ticket upgrades, hotel reservations, retail shopping vouchers, charitable donations and more. The full range of offers applicable on the Platinum American Express credit card can be found online.

iii. The American Platinum Express credit card gives the primary cardholder access to 700+ VIP airport lounges across the globe. The complimentary passes can be availed 12 times a year. The full list of airport lounges may be found on the Priority Pass app.

iv. Flat 10% discount on British Airway tickets for flights which start from the Middle East.

v. Complimentary travel insurance, which offers owners and supplementary members of the American Express credit card in UAE a cover of up to AED 1,800,000 for travel accidents and AED 5,400 for travel inconveniences.

vi. Any new purchases made with the American Express Platinum credit card are eligible for purchase protection, which offers a maximum insurance amount of AED 5,400.

vii. The card offers great deals through the American Express Selects program. Customers can use their American Express credit card in UAE to avail a variety of offers across travel, dining, shopping and entertainment sectors. The available American Express Selects offers can be found online.

viii. Up to 2 free of charge supplementary American Express credit cards for family members above the age of 15. Customers can apply for a total of 9 supplementary American Express Platinum credit cards, with the latter 7 supplementary Amex credit cards offered for a fee of AED 200 each.

2. Corporate Cards

The Corporate American Express credit cards allow employers to effectively monitor and optimize business expenses. The Corporate American Express credit cards provide an expedited payment process and global expense management services.

a. American Express Corporate Card

  • Annual Membership Fee: The annual membership fee varies from AED 170 – AED 370, depending on the number of Corporate American Express credit cards
  • Retail Interest (Monthly): 2.50%

Benefits:

i. As owners of the Corporate American Express credit card, customers can opt-in for the Membership Rewards loyalty program for a nominal annual fee of AED 190. The cardholder earns 1 Membership Rewards point for every USD 1 equivalent spent on the Platinum Amex card. Membership Points can be redeemed for flight tickets, ticket upgrades, hotel reservations, retail shopping vouchers, charitable donations and more. The full range of offers applicable on the Platinum American Express credit card can be found online.

ii. The American Express credit card gives the primary cardholder 1,200+ airport lounges across the globe. The complimentary passes can be availed 8 times a year. The full list of airport lounges may be found on the Priority Pass app and online.

iii. Complimentary travel insurance, which offers owners of the American Express credit card in UAE coverage of:

  • Up to USD 100,000 for travel accidents
  • Up to USD 750 for lost luggage
  • Up to USD 100 for delayed and cancelled flights
  • Up to USD 100 for missed connecting flights
  • Up to USD 100 for delays in luggage arrival

iv. The Corporate Amex credit card allows all cardholders to withdraw up to AED 3,800 every month.

v. This American Express credit card also gives card members access to international legal and medical assistance by connecting them to an English-speaking licensed professional.

b. American Express Corporate Purchasing Card

  • Annual Membership Fee: No fee.
  • Retail Interest (Monthly): 2.50%

Benefits:

i. The Corporate Purchasing American Express credit card allows businesses to manage and monitor indirect expenditures.

ii. This Amex credit card can be specifically assigned to departments with fixed spending limits as defined by the employer.

iii. Amex offers a fraud monitoring system of checks and balances to prevent misuse of the card.

iv. Easier auditing processes, as all expenses made on the American Express credit card, can be easily viewed through a consolidated account statement.

v. By identifying patterns of spending in the Amex credit card statement, the company can identify opportunities for discounts with preferred suppliers.

vi. 60 days of extended credit for the company.

vii. The Corporate Purchasing American Express credit card allows cardholders to spend in-person, online and even over the phone.

viii. Companies can set up a list of permitted suppliers, to effectively control where the American Express credit card can be utilized.

Features & Benefits of American Express Credit Cards

The influx of American Express credit cards in UAE can be attributed to the wonderful features and benefits of the Amex card. Globally recognized as one of the largest credit card issuers in the world, American Express credit cards offer extraordinary rewards and features.

  • Online Banking: The American Express online banking platform has seen a complete rework. The revamped American Express online platform includes new functionalities that let the cardholder access their American Express credit card statement, check their Membership Rewards points, activate and renew their Amex credit card, conduct balance transfers and much more. The online banking portal comes loaded with added security measures which include image recognition and secret questions based processes. Cardholders can register their American Express credit card online.
  • Security: In addition to the standard OTP and pin verification security measures, American Express credit cards also take online security very seriously. Amex employs SafeKey authentication for all American Express online SafeKey is an online fraud prevention program, which asks the American Express credit card owner for an additional password to complete internet transactions.
  • Mobile App: Amex’s mobile app is a powerhouse of features. The app is known as ‘AMEX (Middle East) B.S.C’ and is available on all Android and iOS app stores. The app functions as an on-the-go Amex assistant, expertly answering any American Express credit card related queries. The customer can use the app to check their American Express credit card statement, stay updated on transactions via the alerts system, activate and renew Amex credit cards and much more.
  • Global Recognition: Very few people can claim to not have heard of American Express. Amex has been a globally recognized brand for decades. The American Express credit card offers customers a reliable and internationally acclaimed option for their spending requirements. American Express credit cards in UAE can be used seamlessly across borders and offer both local and international incentives like none other.
  • SMS Alerts: Most of the American Express credit cards in UAE automatically enroll the cardholder into the SMS alerts service. Once enrolled, any transaction made with the Amex credit card is conveyed to the card owner via SMS. This is an excellent way to track spending and quickly identify any fraudulent charges. If the cardholder notices any suspicious charge, they are advised to contact Amex customer care on the number mentioned at the back of their American Express credit card.
  • Supplementary Cards: Let family members enjoy the full benefits of an American Express credit card with supplementary Amex credit cards. Each American Express credit card in UAE comes with a set number of complimentary supplementary cards. The supplementary American Express credit cards can be applied for by any family member over the age of 15 and can be done through the Amex mobile app itself.
  • Refer & Earn: American Express is currently offering incentives for customer referrals. Owners of an American Express credit card can earn thousands of Membership Rewards points for referring a customer that gets approved by Amex. For example, the American Express Platinum credit card in UAE offers customers up to as many as 10,000 Membership Points for a successful referral. These Membership Points can be redeemed against amazing discounts on flight tickets, hotel reservations, retail store vouchers and a lot more.

Benefits

Every purchase made with an American Express credit card in UAE is rewarded in one way or another, through Membership Points, through offers which are unlocked on meeting minimum spending requirements or even as high-paying lottery tickets.

  • Amex Membership Rewards: A majority of the American Express credit cards in UAE offer cardholders ‘Membership Points’ for every purchase made on the card, internationally or locally. These Membership Points can be redeemed for world-class benefits, which include dining and entertainment discounts, flight tickets and upgrades, complimentary hotel stays and more. The various redemption offers can be found online.
  • Travel Benefits: Frequent travellers can benefit greatly from the American Express credit card offers on travel services. Some of the may travel benefits that Amex credit cards offer include premium airport lounge access, complimentary travel insurance and around the clock international legal and medical aid services.
  • British Airways Discount: Owners of an American Express credit card in UAE are eligible for discounts on British Airway flights. Discounts offered are up to as much as 10% off the fare and are valid from flights originating in the Middle East to destinations in Europe, UK, Canada and North & South America.
  • American Express Selects: The American Express credit card owner is also given access to Amex’s very own set of offers and discounts, known as American Express Selects. Available offers can be found online.
  • Dubai Duty Free Discounts: The American Express credit card’s Dubai Duty Free variant offers cardholders 10% savings on purchases made at Dubai Duty Free Dubai Duty Free is one of the world’s largest travel retail operators and available at Dubai International Airport and at Al Maktoum International Airport. Specifics of the American Express credit card’s Dubai Duty Free discounts can be found online.

American Express Credit Card Interest Rates & Annual Fees

Given below is a table of the various American Express credit cards in UAE, their associated annual membership fees and interest rates.

 

Card Type Name of the Card Annual Membership Fee (in AED) Monthly Retail Interest Rate (in %)
Personal Dubai Duty Free American Express Credit Card 175.00 3.25
American Express Gold Credit Card 395.00 3.25
American Express Platinum Credit Card 700 (This fee can be waived via the FeeBack program) 3.25
Corporate American Express Corporate Card 170 - 370 (Depending on number of corporate cards issued) 2.50 (charged on overdue balance)
American Express Corporate Purchasing Card No Fee No Fee 2.50 (charged on overdue balance)

 

(Updated as of Feb 2019)

American Express Credit Card Eligibility

Eligibility for customers interested in applying for an American Express credit card in UAE will be judged on the following criteria.

  • Age: American Express credit card applicants must be at least 21 years of age.
  • Address Proof: All American Express credit card customers are required to have a valid UAE address. Applicants will also be asked to submit appropriate address proof documents during the time of application.
  • Credit History: The Amex credit card applicant’s basic personal information shall be collected and shared with relevant credit bureaus. This is done to analyze the customer’s credit history and to ensure there are no past record of defaults and missed payments.
  • Employer Details: Issuing of the American Express credit card is also dependent on valid UAE employer details. Self-employed customers will be asked to present two years’ worth of experience and may be asked to submit a trade license as well.
  • Minimum Income: Regardless of which American Express credit card the customer is applying for, the applicant’s financial stability will also be considered. The applicant’s yearly income will be a factor for eligibility.

American Express Credit Cards Based on Salary

As stated above, an applicant’s yearly income is a factor for eligibility for any American Express credit card in UAE. The salary requirements per Amex credit card are as follows:

 

Card Type Name of the Card Required Annual Income (for employed applicants) Required Annual Income (for self-employed applicants)
Personal Dubai Duty Free American Express Credit Card AED 180,000 AED 275,000
American Express Gold Credit Card AED 180,000 AED 275,000
American Express Platinum Credit Card AED 255,000 AED 275,000
Corporate American Express Corporate Card Income Income restrictions not applicable on individual cards
American Express Corporate Purchasing Card Income restrictions not applicable to individual cards

 

(Updated as of Feb 2019)


How to Apply for an American Express Credit Card in UAE?

The American Express credit card application process can be completed in Amex branches or online.

  1. Online
    To start the application process for a credit card from American Express, apply online.
  2. In Person
    Customers can also complete their American Express credit card application at any of the Amex branches in UAE. Branch addresses can be found online.

Customers looking to apply for a credit card from American Express online or in branch will need to submit appropriate personal and financial verification documents. The list of documents is as follows:

1. A copy of the applicant’s Emirates ID.

2. A copy of the applicant’s passport.

3. A copy of the applicant’s UAE visa.

4. A copy of the applicant’s address proof, which can be shown through any of the following:

  • Emirates ID
  • Contract of Tenancy
  • Utility Bill
  • Bank Statement (with the primary Amex credit card applicant’s address clearly shown)

5. A copy of the applicant’s bank statement. The applicant will need to show the latest 3 months of the bank statement for an account where the salary is credited.

6. A copy of the applicant’s appointment letter, showing their annual income and position in the company. This can instead be substituted for the latest 3 months of salary slips, attested by the company of employ.

7. A signed copy of the credit bureau consent form. This form signifies that the American Express credit card applicant allows Amex to share basic personal information to conduct a credit history check. The form can be found online.

Note:

  1. Applicants wishing to complete the credit card application for American Express online will have to attach copies of all the required documents.
  2. Customers looking to finish the American Express credit card application in an Amex branch should carry copies and original documents both, for verification purposes.


American Express Credit Card Interest Rates

Detailed below are the monthly and annual retail interests on all American Express credit cards in UAE.

 

Card Type Name of the Card Monthly Retail Interest Rate (in %) Annual Retail Interest Rate (in %)
Personal Dubai Duty Free American Express Credit Card 3.25 39.00
American Express Gold Credit Card 3.25 39.00
American Express Platinum Credit Card 3.25 39.00
Corporate American Express Corporate Card 2.5 (charged on overdue balance)
American Express Corporate Purchasing Card 2.5 (charged on overdue balance)

 

(Updated as of Feb 2019)


American Express Credit Card Limit

Holders of an American Express credit card can request an increase or a decrease in their credit limit in one of three possible ways.

  1. Offline: Customers may head over to any of the Amex branches in UAE to request for a change in their credit limit. However, this is a time-consuming Addresses for the American Express branches in UAE can be found online.
  2. Online: The American Express online portal allows customers to conveniently request an increase in their Amex credit card The online American Express sign-on can be found online.
  3. Via Phone: Cardholders can also request for an increase in their credit limit by contacting the number mentioned on the back of their American Express credit card.

Amex credit card owners will be charged an over-limit fee if they go over their available credit limit. American Express credit cards in UAE charge an over-limit fee of AED 190.

American Express Credit Card Charges

Be sure to consult your American Express credit card policy documents for a detailed breakdown of charges. Some of the charges levied upon cardholders are as follows:

  • Late Payment Charge: AED 230
  • Over-Limit Fee: AED 190
  • Minimum Payment Amount: 5% of outstanding balance or AED 35 (whichever is greater)

How to Cancel an American Express Credit Card?

The primary American Express credit card owner may choose to cancel their card at any time by submitting a written request to end the card membership agreement, close the American Express bank account and cancel all Amex credit cards.

Requests for cancellation will only be honoured once all outstanding dues and charges accrued on the Amex credit card have been cleared. Upon clearing all due amounts, the cardholder will be expected to cut all primary and supplementary American Express credit cards in two and return them to American Express.

Cardholders are also advised to ask for a No Liability Certificate as proof of account closure.


Why Choose American Express Credit Cards?

As an internationally celebrated giant in the banking and finance industry, American Express has no shortage of funding or experience. As such, American Express credit cards offer incredible global discounts and lucrative offers to its cardholders.

  • Customer Experience: American Express understands the value of positive user experiences. From the American Express online portal to the Membership Rewards program offered to Amex credit card owners, every process has been carefully designed to make the banking process with Amex completely effortless. The American Express mobile app is a prime example of Amex’s commitment to providing an intuitive and convenient method of consumer banking.
  • Product Diversity: After conducting a careful assessment of the UAE market, Amex released an incredibly diverse line of American Express credit cards in UAE. These cards are built to address daily spending, travel, entertainment and luxury shopping and more. The corporate line of Amex credit cards further extends the benefits to working professionals.
  • Industry Leaders: Many financial institutes find it hard to adhere to international industry standards, however, American Express is not one of them. In fact, Amex has been instrumental in designing some of the financial industry standards themselves. The line of American Express credit cards in UAE follows the best standards in the industry, while every banking process under Amex is handled with utmost professionalism.
  • Transparent & Reliable: Honesty and reliability are integral to American Express values. The financial institution has built its reputation as one of the largest issuers of credit cards in the world by providing reliable services time and again. The American Express credit cards follow the same philosophy of transparency, carrying no hidden charges and meticulously detailing every little fee and charge in the Amex credit card policy documents.
  • Community Commitment: Amex also displays a strong sense of community, offering amazing benefits to help attract visitors to UAE’s local retail stores and attractions. The American Express credit card’s Dubai Duty Free product is a good example of how Amex helps promote the local economy by offering incentives for cardholders to help spread affluence in the community.