How well is AMEX covered in Hong Kong?

1. Is American Express accepted in Hong Kong?
2. What are the disadvantages of American Express card?
3. Why do so many places not accept American Express?
4. Are credit cards widely accepted in Hong Kong?
5. Do you need cash in Hong Kong?
6. Is AMEX explorer worth it?
7. What is the hardest credit card to get?
8. Why is AMEX so bad?
9. Is American Express for rich?
10. What places do not accept American Express?
11. Is American Express better than Visa?
12. How much is 100k Amex points worth?

Is American Express accepted in Hong Kong?

AMEX is generally accepted in high end places and chain stores in Hong Kong. Non-high end independence stores generally don't accept AMEX. For mainland China usage, consider getting a Discover Card, it process thru the UnionPay network ( the domestic card network banks in Mainland use ), hence much wider accepted.

What are the disadvantages of American Express card?

The main disadvantage of an American Express card is the cost – not to you, but to the businesses it processes the payments for. Unlike Visa or Mastercard, American Express operates its own network, which means it charges vendors an additional fee to use the card, much like some other credit cards.

Why do so many places not accept American Express?

Why can't every store accept American Express cards? The answer is simple: stores want more money in their pockets. American Express charges stores, or merchants, higher fees than other credit card networks like Visa, Mastercard, and Discover.

Are credit cards widely accepted in Hong Kong?

When you travel in Hong Kong, you can use your credit cards freely. Mastercard and Visa are more widely accepted than American Express and Discover cards, but there are ATMs and places where the latter two cards are also accepted.

Do you need cash in Hong Kong?

Although many of the smaller shops in Hong Kong will give better prices if you pay in cash with local currency, most shops accept international credit cards, but some of the smaller ones do not. ... All major hotels and better restaurants accept credit cards, but budget restaurants often don't.

Is AMEX explorer worth it?

It gives you the travel credit of same amount as annual fee plus it give you complementary insurance, lounge passes and many more benefits. The best part is that you can accumulate points at faster rate with this card and although amex is not accepted everywhere but to have that option in your hand is worth it.

What is the hardest credit card to get?

Centurion® Card from American Express

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

Why is AMEX so bad?

The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don't accept American Express. American Express' interchange fee is just too high. Providers like Visa and Mastercard charge between 1.5% and 2.5%, while Amex charges merchants between 2.5% and 3.5%.

Is American Express for rich?

No. American Express is not specifically for rich people, though applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards. In addition to high credit scores, applicants that have an annual income of $60,000 or higher are often more likely to get approved.

What places do not accept American Express?

American Express is not accepted everywhere because American Express charges merchants higher fees than Visa, Mastercard. This makes retailers like Costco, independently owned boutiques, and many family stores shy away from accepting your American Express card.

Is American Express better than Visa?

Editorial and user-generated content is not provided, reviewed or endorsed by any company. American Express is often better than Visa and Mastercard for use in the U.S. by people with good or excellent credit who pay their bill in full monthly and redeem rewards for domestic travel or cash, depending on the Amex.

How much is 100k Amex points worth?

100,000 points go a long way

According to travel website The Points Guy's valuations, Amex points are worth 2 cents apiece. That means the Amex Platinum's 100,000-point bonus is worth $2,000.