While both Visa and American Express are credit card networks, they aren’t the same. Some key differences include:
Card Issuing
One of the main differences between Visa and American Express is that while both are credit card networks, American Express doubles as a credit card issuer. This is also known as a “closed network.”
Most American Express cards are issued directly from American Express, though a few other institutions also issue American Express cards, such as USAA. Visa doesn’t issue any credit cards directly, working only with other issuers to offer their services to consumers. For example, a bank or credit union may issue a Visa or American Express card to their customers, allowing them to take advantage of the benefits offered by the network.
Eligibility
The odds of approval for American Express credit cards are higher for applicants with at least a good credit score, according to FICO or VantageScore. Eligibility requirements for Visa are more variable since the issuer sets them, and many cards can be offered to someone with a fair credit rating of 580 to 669.
Cards in Circulation
Since Visa relies on partner banks to issue Visa cards and American Express generally issues its own cards, the number of Visa cards in circulation is significantly larger than American Express.
According to Visa’s 2021 operational performance data, there are approximately 409 million Visa credit cards in circulation in the U.S. and 874 million outside of the U.S. at the end of December 2022. American Express reported 56.6 million proprietary credit cards in circulation in the U.S. at the end of 2022 and 20.1 million proprietary credit cards outside of the U.S. in its annual report.
Acceptance
It has long been the case that Visa cards are more widely accepted than American Express cards, but the gap has closed in the past decade. In the U.S., Visa and American Express are accepted virtually everywhere credit cards are used. However, this is slightly less true globally, with Visa reportedly the most popular company in 123 countries and American Express only popular in 23, including the U.S.
Benefits and Rewards
Both American Express and Visa credit cards offer a variety of benefits and rewards to attract applicants. It is common to see:
- Large welcome bonuses
- Increased points on certain categories of spending (groceries, dining, travel, etc.)
- Shopping incentives and discounts
- Airport lounge access
- Hotel status
- Concierge service
- Travel protection insurance¹
- Car rental insurance²
- Purchase protection insurance³
- Monthly or yearly credits such as Uber or Instacart credits
Generally, credit cards with annual fees will likely have more valuable benefits.
Card Selection
Due to the sheer number of Visa partners, there are significantly more Visa card options than American Express cards. However, American Express also has several charge cards, which are a type of credit card in which the balance must be paid in full each month rather than having the option of carrying a balance from month to month (and paying interest on any unpaid balance).
Fees
While there are credit cards with no annual fee on the American Express and Visa networks, when it comes to cards with an annual fee, American Express cards tend to have higher fees. For example, the premium Amex card, The Platinum Card® from American Express (terms apply, see rates & fees) has a $695 annual fee, while Chase’s premium offering, the Chase Sapphire Reserve® card, issued as a Visa, has a $550 annual fee.
Featured Partner Offer
The Platinum Card® from American Express
On American Express's Website
Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.
On American Express's Website
5X Reward Rate
Earn 5 Membership Rewards Points per dollar on prepaid hotels booked with American Express Travel and on flights booked directlyRead More
Welcome Bonus
Earn 80,000 points
Annual Fee
$695
Regular APR
See Pay Over Time APR
Credit Score
Good,Excellent(700 - 749)
Editorial Review
The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card’s staggering annual fee is well justified.
Pros & Cons
- High reward potential on flights and hotels booked through American Express Travel
- Multiple credits can help justify the fee
- Comprehensive airport lounge access
- Luxury travel benefits and elite status with Hilton and Marriott with enrollment
- Very high annual fee
- Maximizing the statement credits takes some work and could be impractical for many
- Reward rate outside of travel is sub-par for a premium card
Card Details
- Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peaco*ck, and The Wall Street Journal. Enrollment required.
- The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
- $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
- Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
- Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
- $695 annual fee.¤
- Terms Apply.
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Customer Service
American Express is known for its exceptional customer service, consistently ranking highly in J.D. Power Credit Card Satisfaction studies year after year. American Express offers 24/7 phone and online chat support and a dedicated team of representatives to assist cardholders. Visa also has email, online and phone contact options, but since Visa is not a card issuer, customer service is often provided through the issuing bank, leading to a more variable experience for Visa cardholders.
