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American Express Company Analysis

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American Express Company is a global travel, financial and network services provider. American express started as a express mail business in Albany, New York around 1850. The company was founded as a joint stock owned by Henry Wells, William Fargo and John Warren Butterfield. American Express first established its placement in a building at the intersection of Jay Street and Hudson Street in what was later called the Tribeca section of Manhattan. For years it enjoyed a movement of express shipments throughout New York State. In 1874, American Express moved its head office to 65 Broadway in what was becoming the Financial District of Manhattan. The Current CEO of American Express is Kenneth Chenault which took over the company in 2001 from Harvey Golub.

American Express first started its travel charge card around 1946 but it wasn't until October 1958 it launch its first card. The first cards were paperbacks with numbers on the back of it. The interest of the card being made got so major that they made 250,000 for its grand opening. The card had an annual fee of $6, around 1959 they change from the paperbacks to the cards being plastics. In 1966, American Express introduced the Gold Card and in 1984 they introduced the Platinum Card. The Platinum card was very exclusive around that time. The annual fee was $250 but now its $450. You had to be an American Express customer with at least two years of spending by using Amex and had a great payment history. Now it is open by application.

In 1987, American Express introduced the Optima card, their first credit card. All American Express cards had to be paid in full every month. Optima allowed customers to carry a balance. Although American Express no longer accepts applications for the Optima brand of cards, since July 13, 2009, Optima cards are still listed on the American Express website. In 1994, the Optima True Grace card was introduced. The card was unique in that it offered a grace period on all purchases whether a balance was carried on the card or not

The Company serves individuals with charge and credit cards, Travelers Cheques. It also offers financial planning, brokerage services, mutual funds, insurance and other investment products. Through its family of Corporate Card Service American Express helps Companies and institutions manage their travel, entertainment and purchasing expensive. American Express offers travel and global services around the worlds. It is one of the largest travel agency's. American Express offers convenient methods to obtain account information, pay bills, find discounted products, and even make travel plans through the Internet. The Internet site offers these options, as well as other services, such as on- line help and assistance for small businesses.

American Express has three models of their credit cards. The acquiring bank which process of the credit card transaction



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