AMEX Office in Venice

An interesting history. But it also shows how irrelevant American Express has become. The old business model no longer works in this era of self service and the internet. AE is probably going to go the way of Kodak, Zerox, and many other companies that were to slow to adapt to the digital world.

And isn't it sad that the Delta/NWA merger has forced the US Bank Visa users to go to AMEX in order to get mileage when they charge?

Wow this is the end of an era. Anyone who traveled as a student in the 60's or 70's will remember that the Amex office was a place not just get money, but pick up mail, meet up with friends and so on. I guess with cell phones and ATMs we just don't need those services anymore. It's a bit sad, as having a physical place could result in some serendipitous meetings. Pam

I am sorry, Steve, but AE is not the major credit card player they once were. Chase ranks number one with 119 million cards issued, AE is 5th with 46m, and even Discover at 48m is bigger. AE was fourth in market share at 10.19% down from 11.4% in 07. Chase, by the way, gain 4% in that time period. AE had 12% of all credit card transactions last year. It is a small minority group who cling to the idea that an AE card has status and they are willing to pay for that belief. And those are US numbers. And Europe numbers are even smaller.

But I agree with Pamela. At one time, the AE office was the first place you went. On our first trip to Milan, our first trip was to the AE office to book the guide city tour and cash TCs. Barclay and AE were the only really trusted TCs. But those days are done.

Could the Chase increase have anything to do with their takeover of Washington Mutual?

Probably could be but that is not the point. AE is no longer a significant player. When was the last time you saw a Diner's Card? I can remember when the only two players were Diner's and AE.

I used to have an Amex card, but it gave way to the no charge visa's. Interestingly, I have a friend who loves her platinum Amex. It gives her access to all the airline clubs for the price of less than one club. It got me thinking. Pam

When traveling overseas I use my Capital One exclusively...no foreign transaction fee and very good exchange rate. The only reason I still keep my old AMEX is that it allows me to make enormous charges which I do maybe once a year. But I can put 20 roundtrip plane tix from Knoxville - Rome with no questions asked. As soon as my Capital One limit goes up a bit, then I REALLY won't need the AMEX anymore.