American Express Credit Card
Founded back in 1850 and commonly referred to as AmEx, the
American Express Company is a global provider of diversified financial services. With headquarters located in New York City, the entity is traded at the New York Stock Exchange, and its ticker is AXP. AmEx Company is well known for its charge cards, credit cards, and traveler's cheque businesses. The cards issued by AmEx account for about twenty-four percent of the total volume of transactions via credit cards in the United States (the volume is higher than that of any card issuer in the country).
The Canadian business of the company offers lucrative membership proposals, a broad variety of credit cards, useful travel tips and tools, various insurance products for cardholders and set of flexible financial services. The clients of American Express Canada may also rely on the services of a 24/7 support center. The Am Ex cards for individuals include platinum credit cards, credit cards with various travel and retail reward programs, Aeroplan and Air Miles rewards credit cards for people who spent more time in the air than on earth, as well as
credit cards without annual fees. The
Platinum Card comes with
advantages such as access to lucrative travel offers, possibility to book one’s vacation via the Personalized Travel Service, and opportunity to enjoy special extras in hotels, together with preferred status and additional benefits (e.g. late check outs). Holders of AeroplanPlus Platinum Card earn Aeroplan Miles while purchasing groceries, gas, and other goods. Customers automatically receive 15,000 bonus points with their first purchase through the card and continue earning 1.25 miles on all purchases exceeding $1. In addition, card holders have access to the Pearson Priority Lane to avoid line-ups. Travelers get many additional benefits for an annual fee of $499. The no fee travel cards, such as
Blue Sky credit card, come with many benefits: blue sky points for purchases through the card, access to last minute deals and seat sales, opportunity to purchase travel packages, book flights and hotel accommodation, etc. Card holders with purchases above $3,000 (during the first six months receive) 12,000 blue sky points. Furthermore, all holders enjoy benefits such as preferential ticket access and Travel Accident insurance.
To business clients, the team of
American Express Canada offers a flexible business savings program, lucrative membership rewards and integrated
online services. The most popular Am Ex cards for business people in Canada are business gold rewards credit card, a platinum credit card with a reward program and Air Miles gold business card.
To their corporate clients, the Canadian team of American Express has to offer very convenient corporate cards programs and consulting and expense reporting solutions, along with flexible corporate purchasing cards and solutions.
However popular American Express might be in the United States, their positions in Canada are not nearly as strong – none of Canada’s top five banks:
Bank of Nova Scotia,
Bank of Montreal,
Royal Bank of Canada,
CIBC and the
Toronto Dominion Bank have included American express cards in their loan portfolios. Back in 2002, Canadian Imperial Bank of Commerce started issuing a line of AmEx cards under the brand entourage. The AmEx suite of the Canadian Imperial Bank of Commerce included the American Express Smart Card, Platinum American Express Card, and the Business American Express Card. However in 2004, the management of Canadian Imperial Bank of Commerce decided to discontinue the co-issuing deal with American Express, and they have now included
VISA credit cards in their loan portfolio. Discussions on some internet forums suggest that many holders of AmEx cards in Canada have switched to
VISA because of the higher acceptance of the latter.