What makes the American Express credit card so good?
If you own an American Express credit card, or you have been thinking about getting one, you should be aware of the history and reputation of the American Express credit card company. American Express has been operating for over 150 years, to provide travelers with various forms of assistance, from traveler's checks to hotel in flight bookings. American Express has a very impressive history of dedication and devotion to their customers, starting from their very beginnings.
When American Express first opened for business, of course they didn't offer the credit card (that wasn't invented till around 100 years later). What American Express did offer, when they opened their doors in 1850 in New York, was an express delivery system that quickly became the standard for shipping packages and valuables. The earliest and most consistent clients of American Express happened to be banks. Delivering the banks' small parcels (stocks, currency and such) was much more profitable than transporting larger freight. Soon the company scaled down its parcel and freight delivery business in favor of creating and selling its own financial products.
Transporting stocks and currency was dangerous back in the late 1800's, and many Express deliveries were held up by bandits or cornered by angry Indians. This could mean a large financial loss to some banks and/or to workers who were waiting for their pay. This is why in 1882, when American Express launched the money order business, it proved to be extremely successful. Shortly thereafter (in 1891) American Express introduced the world's first travelers cheque and the year 1900 it was selling more than a few million dollars worth of cheques annually. The money order was popular because no actual money (or gold) was being transported, only papers which (if stolen) could be easily voided/tracked.
Speeding ahead a few years, the American Express Credit Card was first issues in 1958. The American Express Credit Card was an immediate success, based on the past history of American Express; this was a credit card that people could really put their trust in. By 1963 their were over 1 million American Express Credit Card customer in the United States alone, with over 85,000 establishments accepting the American Express Credit Card inside and outside of the U.S.
By owning an American Express Credit Card you own a piece of history, a long and successful history at that. You can rest assured that your credit card is backed by one of the greatest financial services or institutions in this country.