Originally Posted by
HikerT
Not sure they can change credit card terms that quickly. While only costing AMEX a fraction of their ~$500 million (reported) monthly income, the hole was probably getting large enough / growing fast enough that they decided to amputate.
Here is the 3Q commentary:
http://about.americanexpress.com/new...2-percent.aspx
True. The article says that cardmember spending was up 9%, so a 2% increase in rewards seems very good. Data point not shutdown yet, spend $5k/month, 1/3 of CL.