American Express

American Express stock is one of the thirty stocks that the Dow Jones Industrial Average is comprised of. On the New York Stock Exchange, American Express’ common stock trades under the symbol AXP.

American Express is probably most well known for its Traveler’s checks and its credit card. American Express Traveler’s checks are often used by travelers in place of cash. Traveler’s checks are preprinted, fixed amount checks that are guaranteed and insured should the checks be lost or stolen. Though the increased use of credit cards has made Traveler’s checks somewhat obsolete, they are still used in many places by many careful travelers.

American Express offers many types of credit cards for individuals and business alike. Additionally, American Express offers discounts on many types of travel and hotel accommodation packages. American Express also has prepaid credit cards available. These types of credit cards make excellent gifts. Nothing beats a gift card that is good at any store that accepts credit cards.

American Express offers several types of business credit card that allows business owners to better track their financial transaction. There are even plans that include employee credit cards that are tracked underneath main credit accounts with American Express. Owners can easily monitor financial transactions only at the American Express website.

The American Express company is a diversified global financial services company with headquarters located in New York City. Kenneth Chenault is the current CEO of American Express, and took over in 2001. From 1977 to 1993 American Express CEO was James D. Robinson III.

In 1850 American Express was founded by John Butterfield, William Fargo and Henry Wells as an express business. American Express launched its money order business in 1882 to compete with the United States Post Office’s money orders business. The money order product soon spread to Europe where previously no such money product had existed.

In 1891 American Express began its first Travelers Check program. This move and concept was inspired by a trip that William Fargo took to Europe. He had such a difficult time obtaining money, except in large cities, that he became determined to make money transfer easier for those traveling abroad. In 1915 American Express was recognized as a truly international company, and announced the establishment of a travel department and many travel agencies.

To this day American Express caters especially to travelers. You can visit the American Express website for a variety of vacation packages and travel incentives. Double up on savings and rewards by paying with your American Express credit card.

American Express was the first credit card company to offer different credit cards to different market segments within its own business, a practice that is the way most credit card companies do business today. In 1966 American Express released the Gold Card, and in 1984, the Platinum Card.

In 1999 the Centurion Card was introduced. This American Express credit card was intended to cater to an even more elite and affluent market segment of customers. The Centurion Card charged an annual fee of $1,000 and offered a variety of luxury benefits.

Through various subsidiary banks, American Express offers a variety of additional financial services, such as payroll programs, retirement plan services and financial process outsourcing guidance. For more information you can check out their official website.

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