FAQs
American Express is owned by American Express Company, a U.S.-based multinational financial services corporation headquartered in New York, NY. American Express Company was founded in 1850 and has owned American Express ever since.
What does American Express do? ›
American Express is a leading issuer of personal, small business, and corporate credit cards. The company's travel-related offerings include traveler's checks, credit cards, corporate and personal travel planning services, tour packages, and agencies for hotel and car-rental reservations.
Does Warren Buffett still own American Express? ›
American Express is one of Buffett's longest-standing investments. He began buying the stock in 1991, and it has been a home-run investment for Berkshire. American Express is one of Berkshire's largest stock holdings. Buffett's stake represents roughly 21% ownership of the company.
What was American Express before it was a credit card? ›
Before entering the charge card business, American Express began in 1850 as a freight-forwarding company, formed through the consolidation of three companies involved. The business gained trust among customers while transporting some of their most valuable possessions.
Who is the largest shareholder of American Express? ›
Largest shareholders include Berkshire Hathaway Inc, Vanguard Group Inc, BlackRock Inc., State Street Corp, Wellington Management Group Llp, Jpmorgan Chase & Co, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, Morgan Stanley, and Geode Capital Management, ...
Who is American Express biggest competitor? ›
The Bottom Line
American Express's main direct credit card competitors are Mastercard, Visa, and Discover. While Mastercard and Visa have a different business model than American Express, they all compete in the credit card space.
What is the downside of American Express? ›
Due to higher transaction fees than other cards, some merchants won't accept Amex cards. You can't get an Amex card without at least a good (670 or higher) credit score. Annual fees for Amex cards can be high. You must pay the balance on Amex charge cards in full each month, so you can't use them to “borrow” money.
Why is American Express so famous? ›
American Express is one of the leading card issuers in the United States. It's known for its top-notch customer service and some of the best rewards available. From ultra-elite business travel cards to everyday rewards, American Express has credit cards that are a good choice for many different types of cardholders.
What income do you need for American Express? ›
American Express does not disclose specific minimum income requirements for its credit cards, but the higher your income is, the more likely you are to be approved.
Do billionaires use American Express? ›
The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals.
Company Reaffirms Full-Year 2024 Revenue and EPS Guidance
NEW YORK--(BUSINESS WIRE)-- American Express Company (NYSE: AXP) today reported first-quarter net income of $2.4 billion, or $3.33 per share, compared with net income of $1.8 billion, or $2.40 per share, a year ago.
What car does Warren Buffett drive? ›
What Kind of Vehicle Does Warren Buffett Drive? Warren Buffett drives a Cadillac XTS, a car that is far from the flashy, high-end luxury vehicles that one might expect a billionaire to own. Consistent with his down-to-earth lifestyle, Buffett's choice of vehicle is practical, reliable, and understated.
What countries do not accept American Express? ›
Places Where American Express is Not Accepted: Cuba, Sudan, South Sudan, Iran, Syria. Major Retailers That Accept American Express: Amazon, IKEA, Sears, Target, Walmart, Lowe's, Apple, Best Buy, Staples, CVS. Major Retailers That Don't Accept American Express: Costco, small non-chain stores/restaurants.
What is the most used credit card in the world? ›
Visa. Visa credit cards are accepted in more than 200 countries and territories around the world, with more than 4.4 billion Visa cards currently in use worldwide.
Why is American Express not accepted everywhere? ›
That's because American Express typically charges higher merchant fees than other credit card networks. In other words: It's more cost-efficient for many businesses (especially low-margin ones) to only take Visa or Mastercard.
Did Wells Fargo merge with American Express? ›
In 1850, Wells, Fargo, and the other messengers they worked with merged their many businesses under the name American Express Company, which created a large network of messengers and offices for customers across the East Coast and into the Midwest.
Who controls Amex? ›
Stephen J.
Squeri has been Chairman and CEO of American Express Company since 2018. As Chairman and CEO, Mr. Squeri has a unique perspective and has demonstrated leadership qualities and management capabilities to drive the long-term success of the Company.
Is American Express associated with bank of America? ›
American Express® Card accounts
This credit card program is issued and administered by Bank of America, N.A. American Express is a federally registered service mark of American Express and is used by the issuer pursuant to a license.
Who governs American Express? ›
American Express Bank, a federal savings bank, is regulated, supervised and examined by the Office of the Comptroller of the Currency (OCC). The Company and its subsidiaries are also subject to the rulemaking, enforcement and examination authority of the Consumer Financial Protection Bureau (CFPB).
