The story goes like this: once Frank invited a guest to dinner, but he forgot his wallet, and he was very embarrassed when he paid the bill. Tongda's boss said, "I know your reputation has always been good." Come together next time. "
Frank was inspired by the accident. He cooperated with his good friend Schneider to set up a dining car club in new york, and issued a card to 200 members to prove their identity and ability to pay, so that they need only settle accounts with the dining car club once when dining in 27 restaurants in new york. This network was the later dining car letter of credit company and the first credit card company.
1958, American Express Company issued a real credit card (AMEX)-American Express Card. Widely accepted, distributed and used in the United States.