Who is... American Express (AMEX)

Looking for a credit card? All the banks offer them, but so do various other financial services companies. Before you sign up you might like to find out a bit more about some of the other providers – such as American Express. Here’s the background on Amex.

Founded in 1850 in New York as an express delivery business, giving it the name which is often shortened to “Amex”, American Express soon launched a money order business to compete with that provided by the US Post Office. Around 1890, the then president of American Express, J.C. Fargo, travelled to Europe and found that the traditional letters of credit that he carried were insufficient for him to obtain cash. Soon after this the “American Express Travelers Cheque” was launched. Although it is disputed as to whether these were the first travellers’ cheques, they were certainly the first to be so widespread.

From traveller's cheques to credit cards

American Express's express business ended during the First World War (1914 - 1918), but with the 1950s launch of the Diner's Club card, American Express considered the possibility of a similar charge card scheme. In 1958, Amex's now renowned credit card was launched with an annual fee six times that of Diners Club, to establish itself as a card of high-regard, an image it endeavours to continue cultivate today. This top-end reputation continued with the subsequent launch of “Gold” and “Platinum” cards in the years to follow. 

Amex products and services

Within Australia, the company offers a range of credit cards, and is increasing its brand awareness by working with Qantas airlines and others. As well as the basic card, a range of platinum and gold credit and charge cards are offered. There is a frequent-flyer-style reward program users of American Express, and the firm offers benefits with dozens of well known Australian and international brands, many in the areas of shopping and travel. Competing with local cards, the “Rewards Maximiser Gold” credit card offers 1.5 points for every $1 spent, available for use and discounts on ranges from Qantas to Panasonic, Crowne Plaza to iTunes. Amex Australia also offers online travel features, currency exchange and the world's most used travellers’ cheques.

Although known primarily for its credit cards, Amex also now offers a range of other financial services. Travel insurance and home loans, with benefits for users of the more premium cards, are current offerings. Small businesses and corporations are catered for, with a range of business and corporate cards to choose from. 

Contact American Express

www.americanexpress.com/australia

Ground and Level 5,
92 Pitt Street,
Sydney, NSW 2000

Phone: (02) 9239-0666