Credit Card Rewards Are A Hidden Subsidy. AI Will Change This. [Forbes]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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ir.americanexpress.com
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Source: Forbes
Getty Images Credit card rewards function as a tax on those without credit cards and those with credit cards but without the ability or inclination to keep up with the panoply of options. When I use my American Express card to buy a train ticket, the train company donates money (via a circuitous route) to American Express and American Express rewards me with British Airways points. Everyone who buys their ticket with a debit card is subsidising my next vacation. I wonder if their bots will be so generous? Credit Card Rewards Reward Who? There are many observers who are uncomfortable with the way that payment cards work in practice. There is, for example, the criticism that card issuers explicitly charge the rest of the economy for the work involved in recruiting and rewarding the most desirable customers. The Commerce Commission of New Zealand recently published a consultation paper on the costs to businesses and consumers of card payments which makes this point. They summarise
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AXP
News
- American Express (NYSE: AXP) had its price target raised by analysts at Morgan Stanley from $252.00 to $305.00. They now have an "equal weight" rating on the stock.MarketBeat
- American Express (NYSE: AXP) had its price target raised by analysts at Compass Point from $315.00 to $325.00. They now have a "neutral" rating on the stock.MarketBeat
- American Express (NYSE: AXP) had its price target raised by analysts at Monness Crespi & Hardt from $300.00 to $330.00. They now have a "buy" rating on the stock.MarketBeat
- Robinhood's charging into 2025 — then 2034 [Yahoo! Finance Canada]Yahoo! Finance Canada
- Where Will American Express Stock Be in 5 Years? [Yahoo! Finance]Yahoo! Finance
AXP
Earnings
- 10/18/24 - Beat
AXP
Sec Filings
- 12/16/24 - Form 8-K
- 12/2/24 - Form 4
- 11/27/24 - Form 144
- AXP's page on the SEC website