Originally Posted by
bradpetrik
You could call the introduction of Blue as the initial watering down. Now they're just another card issuer but one that doesn't get accepted everywhere like Discover. Their historical prestige is carrying them at this point but they can't rely on that for long.
I mean at the end of the day publicly traded companies are chasing earnings and revenue growth and Amex probably started to run out of high spenders and the high earners, hence the march down market, and the later ill fated attempt to enter the unbanked/underbanked market with the Bluebird and Serve prepaid cards. It's basically starting from the opposite of Chase, which had good success in the low to mid market (Slate, Freedom, CSP, and the co-brand cards) and it looking to move upward with the launch of the CSR.
Originally Posted by
mikesyr18
Chase has been eating AMEX's lunch
How so? Do you have any actual financial metrics that back that up?