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AmEx warns of higher costs as it boosts rewards program, shares fall

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Valued Contributor

AmEx warns of higher costs as it boosts rewards program, shares fall

https://www.reuters.com/article/us-american-express-results/amex-warns-of-higher-costs-as-it-boosts-...

 

American Express Co (AXP.N) warned of higher operating costs this year as the credit card issuer spends heavily on rewards programs to attract customers in an increasingly crowded market, sending its shares down 2.5% on Friday.

 

The article pretty much just confirms the title above Smiley Happy



Message 1 of 6
5 REPLIES 5
Valued Contributor

Re: AmEx warns of higher costs as it boosts rewards program, shares fall

Thanks , I noticed that AmEx just introduced a NEW 2% CashBack Business card this week!

AMEX BCE $4K | AMEX Cash Magnet $15K | Citi DoubleCash WEMC $12.2K | Citi AAdvantage WEMC $12.5K | Discover $15.5K | OpenSky $300 BB&T Cash Rewards $4.5K | Synchrony (PayPal Credit $4K, Care Credit $15K, & PayPal 2% MC $10K) | BBVA Compass Rewards VS $10.5K |
Apple Card MC $6K
TCL - 100K+ | Rebuilding since April 2018
Message 2 of 6
Valued Contributor

Re: AmEx warns of higher costs as it boosts rewards program, shares fall


@Marz2002 wrote:

Thanks , I noticed that AmEx just introduced a NEW 2% CashBack Business card this week!


Didn't even realize that, checking it out now. Thanks!



Message 3 of 6
Valued Contributor

Re: AmEx warns of higher costs as it boosts rewards program, shares fall


@Cred4All wrote:

@Marz2002 wrote:

Thanks , I noticed that AmEx just introduced a NEW 2% CashBack Business card this week!


Didn't even realize that, checking it out now. Thanks!


You're welcome my friend! Smiley Wink

AMEX BCE $4K | AMEX Cash Magnet $15K | Citi DoubleCash WEMC $12.2K | Citi AAdvantage WEMC $12.5K | Discover $15.5K | OpenSky $300 BB&T Cash Rewards $4.5K | Synchrony (PayPal Credit $4K, Care Credit $15K, & PayPal 2% MC $10K) | BBVA Compass Rewards VS $10.5K |
Apple Card MC $6K
TCL - 100K+ | Rebuilding since April 2018
Message 4 of 6
Valued Contributor

Re: AmEx warns of higher costs as it boosts rewards program, shares fall

And none of that is recoup at all in the highest of swipe fees? As well as AF on some cards. Surely an analyst would have predicted this before the actual loss then.

Message 5 of 6
Valued Contributor

Re: AmEx warns of higher costs as it boosts rewards program, shares fall

As the old adage goes, "you have to spend money to make money."















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Message 6 of 6
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