Billionaires Can't Apply for This Card (Here's Why)
A Think School brand case study on how American Express became the card the very rich wait to be invited to. The narrator covers traveler's checks, how Amex kept its word when European banks shut in 1914, the 1963 salad oil fraud and the $60 million payout, the closed-loop versus open-loop model compared with Visa and Mastercard, the concierge, and the Centurion card, then three lessons on brand promises. Sponsor: CRED, named in a mid-roll advertisement for its members-only platform and CRED RuPay credit card; the card offers and rewards quoted are the sponsor's marketing, and nothing here is financial advice. COVERAGE: the full caption track was available, so this note covers the whole roughly 18 minute video. All history, figures and claims are the narrator's own and are not independently checked.
Executive Summary (TL;DR)
A Think School brand case study on how American Express became the card the very rich wait to be invited to. The narrator covers traveler's checks, how Amex kept its word when European banks shut in 1914, the 1963 salad oil fraud and the $60 million payout, the closed-loop versus open-loop model compared with Visa and Mastercard, the concierge, and the Centurion card, then three lessons on brand promises. Sponsor: CRED, named in a mid-roll advertisement for its members-only platform and CRED RuPay credit card; the card offers and rewards quoted are the sponsor's marketing, and nothing here is financial advice. COVERAGE: the full caption track was available, so this note covers the whole roughly 18 minute video. All history, figures and claims are the narrator's own and are not independently checked.