Amex is a nickname for American Express, which is one of the largest financial services corporations in the world. Amex was founded on March 18, 1850 and began as a mail delivery business. But it now is a provider of credit cards, charge cards, traveler’s cheques, bank accounts and more.
Amex is probably best known for its credit cards. American Express is one of the four major American credit card networks, the others being Visa, Mastercard and Discover. Some of the best available Amex cards include Blue Cash Preferred for bonus cash back, Cash Magnet for no annual fee, and the SimplyCash Plus card for business owners. In addition, Amex is the only major credit card company that offers charge cards, where the balance must be paid in full every month. Those include Amex Platinum, which is great for travel, and the extremely exclusive Amex Centurion, also known as the “Black” card.
Amex is similar to Discover in that both networks issue their own credit cards. Visa and Mastercard do not; all of their cards are issued by banks and credit unions. Amex has the lowest merchant acceptance rate of the four issuers both domestically and abroad.
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