American Express Credit Cards
In 1888, American Express president J.C. Fargo returned home from a trip to Europe infuriated about the difficulties he faced while trying to obtain cash on his voyage. As a result, the traveler check was created in 1891 in denominations of $10, $20, $50 and $100. The company was also first in issuing traveler check cards. In 1984, the Platinum Card and the Gold Card were introduced as exclusive cards with extremely high annual fees offered only by invitation. 1987 saw the introduction of the Optima card. This was the first
American Express card that allowed customers to carry over their monthly balance. Today, the company offers cards such as the JetBlue Card, the Starwood Prefered Guest Card, Blue and the Blue Cash Rebate Card. In 1994, American Express introduced another first in credit card history, the grace period. The Centurion Card, or "black card," was introduced in 1999 for American Express' most elite customers. The card has a $1000 annual fee but offers its users special perks.