With the appearance of credit cards, life has been made much easier. Although the first credit cards represented a form of privilege for the most loyal clients, most of them have extended their potential and can be now used as a paying device in every country of the world. Major credit cards are accepted all over the world; however some of them have kept the exclusiveness and limited their function to the few privileged ones. American Express if one such card since the system according to which this card is used is called closed-looped system.
American Express company started out in 1850 as a delivery service. On the road to success, the company leaders saw the enormous potential that lied in financial institutions and customer servicing. After a while, the American Express company managed to achieve a breakthrough in the financial market and in 1890 the company started issuing money orders as a part of expanding their services and competing with other financial institutions (such as the banks serviced by American Express). This turned out to be an excellent move since it allowed the company to expand to other continents where the name of American Express became the synonym for secure and dependable service.
In 1950, the first American Express card appeared. The timing was perfect, since the post-war economy was booming. In 1996, gold credit card appeared, followed by the platinum one.
In 1999, the mythical centurion cared emerged, also known as the black American Express. This type was offered only to the most prominent users of American Express and it was intended to the particular group of platinum card users. The annual fee for black American Express started at $1000 and went up to $2,500 a year and extra one time initiation charge of $5000. The card itself was exclusive (made of titanium) and so were the benefits and prestige that it provided. The limited addition of Centurion America Express was even the basis of numerous urban legends, according to which this card was so exclusive that the holder was able to place any purchases he or she would desire.
While Platinum card requires $450 annually, gold starts at $125 and green has $95 first year fee, there are American Express cards that require no fee whatsoever (Blue American Express).
One of the American Express colours that should definitely be mentioned is Red American Express, a card that had a humanistic approach behind its commercial role. This card allows the user to fund the fight against AIDS, Malaria and Tuberculosis by donating 1% which is deducted from the amount spent and directed to the cause. Recently, a ZYNC card is introduced and it is targeting the younger population between 20 and 30.
American Express is constantly adjusting their services to different profiles of users and various benefits are constantly being offered to the customers. And although American Express has come a long way, one thing remains intact and that is the quality of the care the company provides and the sense that each and every member is exclusive.