You are probably familiar with American Express gift cards. Available at almost every grocery store now, these cards are wonderful for gift giving and during the holidays they just fly off the shelves! An American Express gift card entitles the bearer to purchase any good at a store that will accept the American Express card. In the past, an American Express credit card was not as useful as it is today. Because the company charged higher fees of its merchants, there were many who simply did not sign up with the company. Thus, the acceptance of American Express cards was somewhat limited. Yet in spite of this disadvantage, the fact that the company did not solely deal with credit cards but also made a business with charge cards which did not carry revolving balances, travelers’ checks, and other financial products, it had the luxury of permitting the concept of the American Express credit card to catch on in its own good time.

As fate would have it, the very idea that an American Express credit card was somewhat rare led to their becoming a highly coveted financial product. Not everyone could qualify for the green card that did not offer credit features but was instead a charge card. Add to this a yearly membership fee, and some were a bit surprised that American Express was able to stay in business; however, the very fact that the company sold a membership made it a highly selective club that many wanted to belong to. If you were able to tread your charge card account well and paid off your balances as stipulated, you were able to qualify for the more exclusive American Express Gold card. When it was first issued, consumers with a gold card were thought to be part and parcel of an elite group – until the American Express Platinum card arrived. The company that in the past offered American Express Gold card events suddenly upped the ante.

Of course, the ride did not stop there but today the elite card is the American Express Black card. This American Express credit card is only available to the super rich who do not flinch at a yearly membership fee of about $2,500. The black American Express card – also known as the American Express Centurion card – is the kind of card that requires a stellar credit history and vast financial resources. At this point in time, this American Express credit card is only held by about 10,000 people in the United States. Regardless of the foregoing, American Express credit cards are currently running the gambit of offering a draw to the younger consumers, such as the American Express Blue card, to small business owners with the American Express business card, and to mid-sized enterprises with the American Express corporate card. No matter which segment of the population you belong to, membership does have its privileges!