JPJones.co.uk

So I’m a Virgin Black AMEX Card holder. I use it for most of my day-to-day transactions, and these days its accepted in more and more places. That said, historically, many retailers have shunned accepting American Express cards because of the high (5%) transaction fee the card network levies on transactions. My view, as a man on the street, is that this is now changing, or maybe its just my buying habits have changed?

The beauty of my Virgin AMEX card is that as I spend I earn air miles for every pound spent. Being a Virgin card, these miles are redeemable only on Virgin Atlantic flights. But it just so happens that I love to travel AND I’m a big Virgin Atlantic fan, and choose to fly with them over other carriers (so long as they’re flying to where I want to get to, naturally). The Virgin AMEX White Card delivers 1 mile per pound spent, whilst the Virgin AMEX Black Card gives you 2 miles per pound spent. Virgin also have deals with a number of hotel chains and other organisations whereby you are credited with more miles per pound if you use your card to pay.

Downsides of the card is that you’re charged the interest on the full amount you’ve spent IF you fail to pay off the whole balance in a month, and the £115 annual fee on the AMEX Black. Good incentive to pay off the balance!