Credit card giant American Express went into the ring at the 2018 Mozo Experts Choice Awards as defending champion and has come out victorious, holding onto its title of Credit Card Provider of the Year for the second time running.
Amex took out 13 awards across 9 different credit card award categories, including for both Velocity and Qantas Frequent Flyer cards, Premium Rewards cards and Low Rate cards.
“American Express really swept the pool this year, taking home almost twice as many Awards as the next most successful winner, “ said Mozo Data Manager Peter Marshall.
For many American Express customers, the chance to earn a stack of rewards points and cash in on other perks like a concierge service, are on top of the benefits list. And for good reason - 10 of the 13 Mozo Experts Choice Awards Amex won were in Rewards or Frequent Flyer categories this year.
These categories were based on an assessment of rewards net value, which is calculated by determining how many points a spender could earn on the card in a year, given a certain spending limit, then working out the retail value of the rewards these points could be redeemed for, minus any annual fee.
“With many different earn rates and redemption programs out there, looking at the ‘net value’ of rewards cards is a really handy way to make sure you’re comparing your options on an even footing,” Marshall explained.
American Express has a leg up when it comes to rewards, thanks to falling under different interchange regulation to Mastercard and Visa. The flip side, is that American Express cards have a reputation for lower acceptance and higher merchant surcharges. But according to Marshall, these drawbacks weren’t enough to keep it from claiming the top spot again.
“We did take note that Amex cards are not everyone’s cup of tea, but the breadth of offerings, and the fact that American Express cards were high performers in so many key categories meant that it was the clear choice for Credit Card Provider of the Year. Again,” he said.
Want to add an award-winning American Express card to your wallet? Check out a selection of the winners below, or head over to the Mozo Experts Choice Awards page for the full list of winners.