When you’re comparing credit card offers, you look at a lot of different things such as interest rates, annual fees, rewards, and other perks. Do you even think about the actual company your card is associated with though? Does it really matter if the credit card with the terms you find most appealing is a Visa, MasterCard, or American Express? Probably not. That doesn’t mean you shouldn’t consider it at all though.

There are at least three possible differences between using an American Express or a Visa / MasterCard (lumped together here, because their benefits and drawbacks versus Amex are very similar). Let’s take a look at those differences:

1. Local acceptance

Think about all of the places you like to use your credit cards. What types of credit cards do they each accept? Visa and MasterCard credit cards (like the NAB Low Rate Visa) tend to be accepted in more locations than American Express cards. If a new Amex wouldn’t be accepted at some of your favourite stores, then you would be better off looking for an acceptable credit card offer with a Visa or MasterCard instead.

2. Global acceptance

Even if American Express cards are accepted widely where you’re located in Australia, think about your travel habits. Do you travel often? Do you travel to places where American Express might not be as widely accepted? If so, again you might want to opt for a Visa or MasterCard. You wouldn’t want to be on a trip and find yourself stranded if you were relying on a credit card that local vendors wouldn’t take. If you only travel infrequently, this probably won’t be a big consideration for you.

3. Reward points

Despite the benefit of wide acceptance, Visa and MasterCard can’t always compete with American Express cards. One area where Amex tends to come out on top is reward points potential. American Express credit cards (like the Qantas American Express Premium credit card) sometimes let the cardholder earn more points per dollar spent than similar Visa and MasterCard offers. That isn’t always true though, so compare the individual offers carefully.

Why not forget about choosing between a Visa / MasterCard and an American Express card completely? After all, several banks give you the option to enjoy both these days. You can earn more rewards points using your Amex, and if that card isn’t accepted somewhere you want to use it, just pull out your Visa or MasterCard (which is tied to the same credit limit)!

The Commonwealth Bank Platinum credit card is a great example. When you use your American Express card on the account you’ll earn 3 rewards points for every dollar spent. If you need more flexibility in where you can shop, you can use your MasterCard on the same account and still earn rewards at a rate of one point per dollar spent. It really is the best of both worlds.