Difference Between American Express Vs Mastercard

In the world of credit cards, American Express (Amex) and Mastercard are two major players offering distinct advantages and features. Understanding the differences between these two can help you choose the right card for your financial needs. This blog will explore the key differences between American Express and Mastercard, highlighting ten detailed pointers of differentiation. Additionally, we will guide you through the steps of applying for the Airtel Axis Bank Credit Card using the Airtel Thanks App.

Also Read: Make UPI payments through Credit Cards

Key Differences Between American Express and Mastercard

Understanding the distinctions between American Express and Mastercard can help you select the card that best suits your lifestyle and financial goals. Here are ten detailed points of differentiation:

1.  Global Acceptance:

American Express: Accepted in over 160 countries, but with limited acceptance compared to Mastercard, especially in smaller establishments and certain regions.

Mastercard: Accepted in over 210 countries and territories, making it one of the most widely accepted payment networks globally.

2.  Rewards Programs:

American Express: Known for its generous rewards programs, including Membership Rewards, which offer points redeemable for travel, merchandise, and statement credits. Amex also provides exclusive access to events and experiences.

Mastercard: Offers a variety of rewards programs depending on the issuing bank. These can include cashback, travel rewards, and points for merchandise. Mastercard’s Priceless program provides unique experiences and offers worldwide.

3.  Annual Fees:

American Express: Generally higher annual fees, especially for premium cards like the Platinum and Centurion cards, which offer extensive perks and benefits.

Mastercard: Offers a wide range of cards with varying annual fees, from no-fee options to premium cards with higher fees, depending on the issuing bank and card tier.

4.  Customer Service:

American Express: Renowned for exceptional customer service, including 24/7 support, personalised concierge services, and comprehensive travel assistance.

Mastercard: Provides solid customer service, though the quality can vary depending on the issuing bank. Premium cards offer enhanced support and additional services.

Also Read: How to Check Credit Card Application Status

5.  Purchase Protection:

American Express: Strong purchase protection policies, including extended warranties, purchase protection, and return protection on eligible purchases.

Mastercard: Also offers purchase protection and extended warranties, but the specifics and coverage can vary depending on the issuing bank and card type.

6.  Travel Benefits:

American Express: Extensive travel benefits, including airport lounge access, travel insurance, rental car insurance, other insurance and statement credits for travel purchases.

Mastercard: Travel benefits vary by card type, with higher-tier cards offering perks such as lounge access, travel insurance, and concierge services.

7.  Partnerships and Offers:

American Express: Strong partnerships with luxury brands, airlines, and hotels, offering exclusive discounts, bonus points, and special offers.

Mastercard: Wide range of partnerships across different sectors, providing discounts, cashback, and special offers through its Priceless Cities program.

8.  Security Features:

American Express: Advanced security features, including fraud protection, account alerts, and secure online shopping tools. Amex cards are known for their robust fraud detection and resolution processes.

Mastercard: Comprehensive security measures, including Zero Liability protection, EMV chip technology, and Mastercard ID Theft Protection.

9. Credit Score Impact:

American Express: Offers tools to help manage credit, including spending alerts and payment reminders. Amex reports to credit bureaus, impacting your credit score based on usage and payment history.

Mastercard: Also provides tools for credit management through issuing banks, with regular reporting to credit bureaus affecting your credit score.

10.  Card Issuance:

American Express: Issues its own cards, maintaining control over card features, benefits, and customer service.

Mastercard: Partners with various banks and financial institutions to issue cards, resulting in a wider variety of card options and benefits tailored to different customer needs.

Also Read: Features and Benefits of Axis Bank Credit Cards

Steps to Apply for an Airtel Axis Bank Credit Card Using the Airtel Thanks App

Applying for the Airtel Axis Bank Credit Card is a straightforward process through the Airtel Thanks App. Here are the steps to guide you:

• Download and Install the Airtel Thanks App: Ensure you have the latest version of the Airtel Thanks App installed on your smartphone. It is available for both Android and iOS devices.
• Register/Login: Open the app and log in using your Airtel mobile number. If you are a new user, register by following the on-screen instructions.
• Navigate to Credit Cards Section: Once logged in, navigate to the ‘Banking’ or ‘Credit Cards’ section within the app.
• Select Airtel Axis Bank Credit Card: Browse through the available credit card options and select the Airtel Axis Bank Credit Card.
• Check Eligibility: Use the app to check your eligibility for the card by entering the required details, such as your income, employment status, and personal information.
• Fill Out Application Form: Complete the online application form with accurate details. Ensure all fields are filled correctly to avoid any delays in processing.
• Upload Documents: Upload the necessary documents, including proof of identity, address, and income. The app will guide you through the document submission process.
• Submit Application: Review your application for accuracy and submit it through the app. You will receive a confirmation message once your application is successfully submitted.
• Track Application Status: Use the Airtel Thanks App to track the status of your application. You will receive updates on the progress of your application and any additional steps required.
• Receive Your Card: Upon approval, your Airtel Axis Bank Credit Card will be dispatched to your registered address. Activate your card as per the instructions provided and start enjoying its benefits.

FAQs

1. What is the primary difference between American Express and Mastercard?

American Express (Amex) and Mastercard are both global payment networks, but they differ mainly in terms of acceptance, rewards programs, fees, and customer service. Amex is known for its premium benefits and exceptional customer service, while Mastercard offers extensive global acceptance and a wide variety of card options.

2. Which card is more widely accepted globally, American Express or Mastercard?

Mastercard is more widely accepted globally, being accepted in over 210 countries and territories. American Express, while also widely accepted in over 160 countries, has limited acceptance compared to Mastercard, especially in smaller establishments and certain regions.

3. How do the rewards programs of American Express and Mastercard compare?

American Express is renowned for its generous rewards programs, including Membership Rewards, which offer points redeemable for travel, merchandise, and statement credits. Mastercard’s rewards programs vary depending on the issuing bank but generally include cashback, travel rewards, and points for merchandise. Mastercard’s Priceless program provides unique experiences and offers worldwide.

4. Are the annual fees for American Express higher than those for Mastercard?

Generally, American Express cards have higher annual fees, especially for their premium cards like the Platinum and Centurion cards, which offer extensive perks and benefits. Mastercard offers a range of cards with varying annual fees, from no-fee options to premium cards with higher fees.

For those looking for a versatile and rewarding credit card option, the Airtel Axis Bank Credit Card is an excellent choice. With its high credit limit, substantial cashback, exclusive offers, and robust security features, it caters to a wide range of financial needs and enhances your overall spending experience. By following the simple steps outlined above, you can easily apply for the Airtel Axis Bank Credit Card using the Airtel Thanks App and start enjoying its numerous benefits.