Not as universally accepted as Visa and MasterCard, American Express was recognized the leader by the 2008 credit consumers' satisfaction study. The company tops the list of providers which services, fees and rewards are found especially attractive and so bring the greatest satisfaction to most cardholders.

American Express though has never offered cheap and easily affordable services. Traditionally, its major business and best products have been targeted at customers with firm financial standing, long and faultless payment history and high job income. In this way AmEx differs from the other companies involved in the study but its first place is still well-earned. Why? Because any person able to pay will fork out for the first-class services traded by the company.

American Express is basically popular for its rewards programs, benefits and additional values on credit cards. Its rewards membership implies access to frequent flyer miles and points rewards. While AmEx hotel rewards are claimed best for consumer's satisfaction, the company's cash back programs are most often used for redemption. When you go online to compare the offers, you're often surprised by the wide spectrum of perks you can get at one time.

With up to 5% back on various categories of purchases and no limits to the amount of cash back one can earn, AmEx rewards cards occupy the wallets of responsible Americans. The true flexibility of earning and redeeming cash back is offered by the True Earnings card from Costco and American Express which allows a person to save on dollars spent for gasoline, restaurant and travel purchases. That's great given the card offers no annual fee and rather reasonable purchase APR. One doesn't even have to pay the interest as long as he/she pays balances in full each month.

Owners of AmEx cards know the benefit of carrying 0 balances because this strategy allows for a most effective and paying management of credit lines. American Express representatives in their turn realize the reasonability of eliminating the restrictions such as miles/points/cash back number limits, expiration dates or merchant restrictions. Easier redemption process stimulates the use of rewards and improves overall consumer satisfaction.

Moving further to the consumer categories targeted by American Express Company. Its major products that go with competitive rates, no fees and various perks are marketed to wealthy consumers and businesses owners. Its Blue Cash for Business and Platinum Business cards offer some of the lowest interest rates on purchases and balance transfers available in the present day market, providing users with the best source of capital and efficient financial tool.

Recently, American Express started issuing credit offers for college students but this type of products has not yet gained the same popularity level as business cards.

With the lavish rewards plans, first-quality consumer services as well as the convenient tools for applying online and managing accounts, American Express holds the top position in the list. What are the main competitors and their trumps?

Second to American Express is Discover Card Company which won customers' loyalty through a relatively low pricing, cash back and flexible redemption options. Then goes the regional card issuer National City with Chase and Citigroup following. Bank of America, which is a recognized leader in the number of active accounts, became only 6th in the chart.

Share Opinion: