Plastic Goes Platinum

First came the green card. Introduced by American Express in 1958, the sliver of plastic quickly became a status symbol. Later the Gold Card, brought out in 1966, took over as the first-class way to pay. Now American Express is about to play its most exclusive card: platinum. Said a company spokesman: "This will raise the prestige level to new heights."

Compared with an annual fee of $35 for the green version and $50 for the gold, the new platinum card will cost a plush $250 when it is offered this summer to some 500,000 of Amex's best customers. To qualify, users must have run up charges of at least $10,000 during the past year, and must have a record of prompt payment. Those eligible for a platinum card will receive services unavailable to other American Express customers. They will be able to tap 1,200 automatic tellers around the U.S. for cash advances of up to $1,000, for example, and to cash checks for as much as $10,000 at American Express offices worldwide.