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American Express Customers Are Hoarding Their Points

By John F. Heerdink, Jr.

As per reports, American Express Company (AXP) Chief Financial Officer Jeff Campbell revealed that customers of American Express Co.’s travel-related co-brand cards along with the firm’s Platinum, Gold, and other proprietary cards, have been stockpiling their points and miles during the pandemic, and the rewards are expected to be used eventually for big vacations.

“They’re not choosing to redeem them for online retail, which they could. They’re just stocking up the points to travel.” stated Campbell at a virtual conference Tuesday.

The company also added that it added temporary perks to some of its most popular cards, including the $550-a-year Platinum card, the rewards for which can be used for purchases during the pandemic, such as streaming services.

Dow 30 component American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success. To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: AmEx Says Its Cardholders Are Stockpiling Their Points and Miles in Bloomberg)


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