American Express (AmEx) is the largest American diversified company. It provides services in the sphere of tourism, issues and services card products and traveler’s checks.
It was founded in 1850 in New York State, USA, and originally operated as a valuable cargo delivery service. In 1891, the company invented and issued the first American Express traveler’s check. The first credit card was issued on October 1, 1958, and was owned by Elvis Presley. In 1959 the company began offering plastic cards to its customers (before that cardboard cards were used). AmEx was one of the first to create a payment system on the basis of plastic cards, which is considered the third largest in the world after Visa and MasterCard. The system is most widespread in the United States and Canada.
American Express card products are designed first of all for rich people who are keen on travelling. The cards are issued in different categories: American Express Card, American Express Gold Card and American Express Platinum Card. The most prestigious card is the Centurion. The main difference between them lies in the size of the available credit limit and the list of additional services provided by the company.
American Express is one of the most expensive brands in the world: the company is valued at $14.971 billion (according to Interbrand, 2009). Its shares are traded on the New York Stock Exchange. The company’s net profit for 2010 (1st quarter) amounted to $885 million, while its revenue – 6,606 billion dollars.