AmEx Fights Back Against Credit-Card Churners
- Lender in ‘hand-to-hand combat’ with Sapphire card, AmEx says
- Card issuer focused on 6 percent revenue growth, CEO says
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American Express Co. is looking to weed out customers who jump from credit card to credit card just for the sign-on bonus.
An increase in incentive bonuses has boosted so-called gaming by credit-card applicants looking for a quick reward, Doug Buckminster, president of global consumer services, said Wednesday at the firm’s investor day in New York. AmEx is using analytics to identify and “suppress” gamers, while creating offers that incentivize long-term loyalty, the company said.