American Express credit cards are also known AMEX, and these are recognized instantly any ware in the world. Most of the people have Visa or MasterCard has their preferred credit cards, and still some are very much interested in AMEX. Even American Express is preferred among many has their credit cards. There is some difference between the above mentioned, three types of cards.
Visa and MasterCard are the methods for accepting payment. These cards allow different businesses to use their payment gateway system to do transaction through credit card. These two companies do not issue any cards on their own, but they allow banks to tie-up with them to issue cards on their behalf throughout the world. They provide the credit and also charge the interest. However, the dealing is reflected through the issuing bank, the card billing and collection are done by the bank; here Visa and MasterCard do not come into the picture.
On the other hand, American Express is very different from the above two. AMEX has its own system in place, and they issue credit cards directly to their clients. AMEX is the show master here, which is not like Visa and MasterCard. Hence, when you get the card that has American Express logo on it, you can straight away know who has issued the card and everything else that you should know about it.
By S Prashanth Kumar
PHOTO GALLERY
