AmEx Gets Reprieve After JPMorgan Sapphire Reserve Fee Hike
- Rewards plans are becoming ‘a little more rational,’ CFO says
- Card company gives an optimistic forecast for 2020 earnings
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American Express Co. has high hopes for 2020, predicting earnings that surpassed many analysts’ expectations and prospects for “more rational” competition from its biggest rivals.
After sweetening the bonuses on some of its most popular products, including the Green card, AmEx said overall rewards costs climbed 8% to $2.72 billion during the fourth quarter. That was less than the $2.76 billion average of analysts surveyed by Bloomberg.