BLACK AND BLUE

American Express has launched two new credit cards: one black, one blue. The Black Centurion card carries an annual fee of $1,000. It was first offered to a “very small group” of holders of Platinum cards in London in May, then to platinum cardholders in the U.S. in November of this past year. American Express makes available by telephone to each cardholder a personal traveler counselor and a personal concierge. The program also provides elite status in the frequent flyer programs of Delta Airlines, US Airways, Continental Airlines and Transworld Airlines.

For those of us who shun the aura of a Black Card, there is the Blue Card. An article in the European Card Review refers to it as the “Blue blockbuster.” According to Silicon Valley analysts Frost & Sullivan, the card “leapfrogs” Amex ahead of Visa International and MasterCard in the technology card game, and gives smart cards a real chance to succeed.”  The card has a built-in smart chip for added Internet security, although some have pointed out that Amex already provides a strong security system on its current cards. Cardholders who are approved for the card before the end of January will receive at no cost a card reader that may be attached to their computers for on-line shopping. Amex will be offering a “wallet” on the web that cardholders can download for free to their computers. Cardholders will then enter their card number, name, and shipping address. Later, when cardholders order items from the web, they can pull up their wallets and have those data entered automatically with their purchase order.

There is no annual fee on the card and no finance charge for the first six-month, after which the rate is 9.99 percent. Amex is planning a major marketing campaign, with CDs to be offered in magazines, health clubs and other venues. When placed in their computers with Internet access, consumers can access the Amex Blue website and apply for the card.

 In July of last year, Amex announced the formation of its Internet bank: MembershipB@nk. The bank offers money market and savings accounts, loans, checks and an ATM card that can be used at most of its US ATMs. Amex now has more than 4,000 ATMs in the US.