American Express created 'Small Business Saturday' in 2010

In 2025, American Express paid $230M to settle fraud and deceptive marketing charges

American Express launched a wire payment service targeted at small businesses and falsely touted the service as a tax-deductible business expense in 2018. American Express was also accused of allowing small businesses to open corporate credit cards without the necessary employer identification number (EIN).

See a timeline of American Express' history

Since its founding in 1850, American Express has evolved from a mail delivery service to a multinational financial services company. Small additions to the company over time, such as taking money orders and inventing traveler's cheques, were key drivers of the company's transformation.

American Express intentionally targets wealthy cardholders, who spend higher amounts per transaction and tend to make more transactions than the average cardholder, thereby reducing the company's risk.

American Express debuted its first charge card in 1958 to give travelers access to cash abroad

The original American Express charge card was made of purple paperboard and allowed customers to book travel. Unlike credit cards, the card's balance had to be entirely paid off each month. When the card first launched, 250,000 customers used it, and 17,500 companies had agreed to accept it.

American Express runs on a 'spend-centric' model, using perks and merchant fees to drive profit

American Express cardholders tend to spend more money per transaction than other credit card users, which makes the interchange fees merchants have to pay to accept American Express cards worth it while incentivizing other companies to pay the interchange fee as well.

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

American Express is one of the top-ranked places to work in the US

In 2026, American Express came in eighth place in Forbes' annual ranking of the best large workplaces (meaning workplaces with more than 5,000 employees). It's the top-ranked finance company on the list. The rankings were determined by survey data that asked employees to anonymously rate the salary, opportunity for advancement, benefits, and workplace at their company.

American Express briefly owned Lehman Brothers

In 1984, Shearson, a retail banking company and American Express subsidiary, bought the investment banking company Lehman Brothers—best known for its historic 2008 collapse—for $360M. The businesses were then called Shearson Lehman/American Express. American Express spun off Lehman Brothers with an IPO in 1994 that attracted nearly $3B in new capital.

In 1882, American Express began offering money orders to compete with the US Postal Service

Money orders were American Express' first move into financial services. USPS launched its money order service in 1864 as a way for Civil War soldiers to send money back home. Between the 1880s and 1920s, immigration into the United States surged;the American Express money order service gave immigrants a way to send money to family members living in other countries.

American Express has acquired restaurant software companies to elevate its cardholder experience

One of the many perks of American Express cards is dining credits and special reservation access to fine dining restaurants. Since American Express cardholders are often more affluent than other credit card users, restaurants have benefited from increased partnerships with American Express to offer cardholders preferential reservations and premium experiences. In 2019, American Express acquired Resy, a reservation software, and went on to acquire Tock in 2024.

American Express was the first company to offer 'gold' cards to borrowers

American Express began offering gold cards to affluent consumers in 1966. However, other credit card companies began offering similar, premium cards in the 1980s, which quickly became a status symbol for wealthy Americans.

In 2013, American Express became the first credit card company to open an airport lounge

American Express opened its first airport lounge, the Centurion, in Las Vegas more than a decade ago. Since then, not only has American Express increased the number of lounges it has in airports across the country, but other credit card companies have also opened lounges.

American Express is both a card issuer and a processing network

Unlike most credit card companies, American Express issues credit cards and processes payments—something called a closed-loop model. By offering both services, American Express profits from both interest and interchange fees, and also has access to more data on how customers spend their money so it can offer better perks.

American Express stopped its rail service when President Wilson seized American railroads

After the US entered World War I, the federal government took control of American railways and consolidated rail companies. American Express officially exited the express shipping business in 1918 and turned its focus to its travel and financial services.

In 2018, the Supreme Court sided with American Express in a case that significantly changed antitrust regulation.

The US Department of Justice sued Visa, Mastercard, and American Express in 2010 over alleged anticompetitive contracts with merchants. While Visa and Mastercard settled out of court, American Express went to trial and had its case taken all the way up to the Supreme Court—which ruled that both sides of a transaction business must be analyzed to determine a monopoly.

Two of American Express' co-founders also founded Wells Fargo

Henry Wells and William Fargo formed Wells, Fargo & Co. two years after American Express was created. Wells and Fargo saw an opportunity to expand the express delivery service from the East Coast and Middle America to the West Coast. The two initially asked the American Express board to expand operations, but the board declined, so they decided to create their own company. Today, Wells Fargo is among the top four largest banks in the US.

The National Retail Federation coined the term ‘Cyber Monday’ in 2005

As online-only retailers like Amazon expanded in the early 2000s, they sought ways to capitalize on Black Friday’s uptick in sales—but they didn’t actually have physical retail stores. Enter: Cyber Monday, a day that now competes with Black Friday for the highest e-commerce sales day of the year.

Why American Express charges merchants more than other card companies to accept AmEx

Each card network charges merchants a discount rate, which is a fee merchants pay to accept cards. American Express charges higher discount fees than competitors like Visa and Mastercard as the business is more reliant on fees for operation.

Learn more about American Express' membership rewards

American Express is well known for its membership program that allows cardholders to earn points. These points allow members to earn extra benefits and rack up savings at places like hotels, airlines, and restaurants.

Consumer spending accounts for 70% of US GDP, making Black Friday significant

Lizabeth Cohen, a history professor at Harvard and author of the book “A Consumer's Republic: The Politics Of Mass Consumption In Postwar America,” has argued that the US government has presented consumerism as a way out of economic crisis or decline since around World War II.

American Express uses co-branded cards to provide brand-specific perks

Co-branded credit cards are partnerships between a card issuer and another company. Unlike regular credit cards that offer many different kinds of benefits at different companies, co-branded cards tend to only offer perks with the partner company. For example, American Express has a co-branded card with Delta airlines that allows users to earn points specifically towards the Delta rewards program.

American Express is targeting Gen Z, who are generally less risk-averse than older generations

Unlike Millennials, who grew up during the Great Recession in 2008, Gen Z has a higher risk appetite and has grown up with more gamified spending platforms, like online gambling and prediction markets. Analysts say Gen Z's risk appetite makes them prime targets for credit card companies like American Express that can sell younger customers on large benefits in exchange for annual fees.

Health savings accounts evolved out of medical savings accounts introduced in the 1990s

After medical savings accounts in Singapore and South Africa proved successful, the US introduced a pilot program for small business owners and the self-employed to pair with high-deductible health plans in 1996. In 2003, Congress passed a law inspired by that program, and health savings accounts became tax-free and open to anyone with a high-deductible plan. FSAs, on the other hand, date back to the 1970s.

American Express charges merchants more than other card companies to accept AmEx, making Visa a more accessible option for many merchants.

Each card network charges merchants a discount rate, which is a fee merchants pay to accept cards. American Express charges higher discount fees than competitors like Visa and Mastercard as the business is more reliant on fees for operation.

In 2024, the period between Thanksgiving and Cyber Monday saw 197 million shoppers

Some argue Black Friday has gone from one day of the year, to two days of the year, including Cyber Monday sales, to, more recently, an entire week. In recent years, companies have offered steep discounts for a week at a time rather than just one or two days.

In 2024, Black Friday was observed in 129 countries

Brazilians adopted Black Friday in 2010. Today, 60% of Brazilians participate in the shopping event. Large corporations offering Black Friday sales in the US (like Amazon, for instance) began offering similar deals in places like the UK, spreading the holiday internationally.

Visa, the first credit card network, still dominates competitors with a roughly 52% market share by purchase volume.

Among the major credit card companies in the US, Mastercard had about 25% of the market share in 2025. American Express had roughly 20%, and Discover had the smallest market share of about 4%.

Consumer spending accounts for 70% of America's gross domestic product.

Macy’s revolutionized retail with fixed pricing, pay-upfront policies, and marketing

The brand soon grew into a cultural icon, hosting the first in-store Santa in 1862, and launching the Macy’s Thanksgiving Day Parade in 1924, now a holiday staple. Its flagship Herald Square store became the world’s largest, and its festive window displays set a new standard for holiday celebrations.

American Express is one of Warren Buffett's top stocks

Buffett's long investment in American Express is indicative of his highly principled investment strategy. Buffett often invested in longstanding businesses with strong core products and services. As of 2025, Buffett owned around 20% of all American Express stock, and his investment in American Express made up around 16% of his portfolio.

The term ‘Black Friday’ originally referred to a 1869 US gold market crash

After financiers Jay Gould and James Fisk attempted to corner the US gold market, the market crashed on September 24, 1869, bankrupting thousands of investors and sending stock prices plummeting by 18%. That day became known as “Black Friday” long before the unofficial retail holiday emerged.

How 'Don't leave home without it' became the American Express tagline

The tagline was created by legendary New York advertising firm Ogilvy & Mather. Its first commercial was fronted by Karl Malden, famous for his role in the TV show "The Streets of San Francisco." The slogan was originally designed for American Express traveler's cheques, but was revived for the company's credit cards. (Some users may experience a paywall.)

Reforms reducing postage rates helped popularize Valentine's Day cards

In 1845, Congress voted to slash postage rates, paving the way for larger swaths of the American public to send and receive mail. This convenience was capitalized on by paper and stationery sellers who sought to profit from the holiday. Esther Howland's New England Valentine Company was the first major commercial producer of valentines in the US, but Hallmark followed a few decades later.

Many economists see Black Friday as a litmus test for consumer confidence

Some investors and analysts look at Black Friday’s sales numbers as a way to gauge the overall health of the retail industry—and consumer confidence at large. However, others don’t believe Black Friday results have a particularly significant impact on markets, arguing that the figures only cause short-term gains or losses.

Soybean oil fraud almost decimated American Express in 1963

A New York commodities trader who had defrauded the American government over uninspected meat for school lunches, Anthony "Tino" De Angelis, used American Express warehouses to sell soybean oil. However, Angelis had actually filled the tanks with water and placed just enough soybean oil on top of the tanks to pass inspection. American Express was liable for many of the tanks and its stock faced a huge downturn, opening the door for a then 33-year-old Warren Buffett to make his first purchase in the company.

Singles' Day was created as a response to Valentine's Day

Inspired by people feeling left out by Valentine's Day, the Chinese holiday celebrates the unattached. It takes place Nov. 11, sometimes referred to as "Double 11," and has become a major shopping day, with over $202B spent on that day in 2024.

The Black Friday Archive collects Black Friday ads from the past 25 years

The archive features advertisements from notable retailers such as Bath & Body Works, Gap, and The Home Depot, among others. These ads span from the years 2000 to 2024, in addition to some from early holiday sales at Macy’s in 1963.

Trump's 2025 'One Big Beautiful Bill Act' expanded access to health savings accounts

After the "One Big Beautiful Bill" took effect, Medicare users with bronze or catastrophic level health plans, as well as certain medical care membership models and telehealth users, became eligible for HSAs. Supporters of HSAs say expanding access to this savings program is more effective in alleviating high consumer costs than subsidizing healthcare plans or direct treatments.

Online Black Friday shoppers spent over 10% more in 2024 than they did in 2023

Online shoppers shelled out some $11.3M per minute between 10 am and 2 pm on Black Friday 2024, according to Adobe Analytics data. The $10.8B online shoppers spent on Black Friday 2024 was more than double the amount they spent online in 2017.

Watch the Super Bowl commercial that launched Discover

A Sears subsidiary, the financial services company Dean Witter, launched Discover Card through a Super Bowl commercial during Super Bowl XX.

Bank of America helped establish Visa as a global credit card network business after it rolled out its first credit cards.

At the time, those credit cards were called "BankAmericards." Today, Bank of America owns less than a 2% share of Visa—many other banks (as well as institutional investors) help govern and profit from the network.

The first Macy’s Thanksgiving Day Parade took place in 1924

It was originally intended to promote Macy’s upcoming holiday sales. Although it took place on Thanksgiving Day, the parade was initially called the Macy’s Christmas Parade—the name didn’t change until 1927.

Banks have increased small loan programs since 2018, upping competition for payday lenders

One of the reasons payday lending flourished for nearly two decades is that most banks charged high overdraft fees and didn't offer small loans. However, since 2018, banks have increased their small loan options. Supporters say this provides safer alternatives for consumers, as banks are subject to more regulatory measures and are less likely to allow consumers to keep rolling over loans.

The 'Centurion' card is American Express' highest-tier, invite-only credit card.

Read about the history of gift cards

The first retailer to sell gift cards was Neiman Marcus, but Blockbuster popularized them by selling them via in-store displays in 1994. Starbucks then started selling gift cards that could be reloaded in 2001.

How Sears helped create Discover Card

Sears owned the financial services company Dean Witter, which rolled out the Discover Card in 1986. The Discover Card is just one of many Sears inventions that seems to have outlasted Sears’ peak popularity, including Allstate Insurance and the clothing brand Lands End.

Car crashes are 34% more frequent on Black Friday compared to other November days

Black Friday anecdotes abound. Once, a mall dropped 500 gift certificates from the ceiling into a crowd of 2,000 Black Friday shoppers, who injured each other fighting for them. Another time, publishers of the game Cards Against Humanity convinced 11,000 shoppers to pay $5 for nothing.

The Platinum American Express card is among the most expensive mainstream travel credit cards

American Express charges a $895 annual fee on its Platinum Card in exchange for nearly $3.5K worth of credits and benefits. Some of the credits include a $600 for hotels, a $400 credit at restaurants with Resy, a $300 Lululemon credit, and even a $200 credit at Oura ring. (Some users may experience a paywall.)

There’s a solid argument to be made that Macy’s was the inventor of the retail Santa

The Macy’s website claims that retail Santas—the Christmas icons who invite children to meet them at department stores and malls around the holidays—have been visiting the store since the 1860s.

Credit reporting started as a service for businesses rather than consumers

In the 1700s US economy, consumer credit reporting wasn't necessary. A loan to a farmer for agricultural supplies, for instance, would inevitably help them purchase both personal and business items.