American Express Cards
American Express issues Charge, Credit and Prepaid Cards directly to card holders. Merchants must sign up for American Express before they will be able to take any card with the American Express Logo.
As one of the foremost card issuers in the country, American Express enjoys a longstanding reputation for unparalleled customer service and some of the best rewards in the industry. One of the reasons for the exclusive nature of American Express cards is that they have more stringent requirements than most other credit cards. For example, every American Express credit card stipulates that the applicant have good, if not excellent, credit for approval. For this reason, it’s not a good idea to apply for an American Express credit card unless your credit score exceeds 700.
One thing to keep in mind is that American Express built its reputation as a charge card, not a credit card. In this case, the balance you charge on the card is due in full every month. The company generates revenue from these cards by charging customers an annual fee in addition to the merchant fees it collects for every transaction.
Nevertheless, American Express has branched out over the years to include a variety of credit card offerings from elite business travel cards to everyday rewards. Indeed, some of their cards offer 0% introductory APR, and many Amex cards nowadays have $0 have annual fees as well. Since their humble beginnings as a freight forwarding company in 1850, American Express has continually evolved to fits the needs of many different types of cardholders.