Amex-payback credit card points can not be redeemed as real world cash. it acts as an endless perpetual cycle or trap. the annual fee is fifteen hundred rupees excluding tax. and to waive this one has to spend at least one and a half lakh per year, which does not apply in my case, as my expenses are far less than that.
does shop-owners and hotel-managers offer extra privileges when one hands out amex instead of other credit cards? as if offering extra treatment to a bmw-owner ( ie amex-card holder ) and offering standard treatment to maruti or other card owners ( ie other credit card holders )?
if Amex cards are expensive to maintain and offer less benefit compared to other cards in the market ( as it appears to me ) – then why they are still in circulation?