Originally Posted by
esc2476
FWIW, I do not think that AMEX cares about spend relative to income. They should only care about total spend and that number, based on empirical evidence seems to generally grow until retirement.
It may be that AMEX is trying to lure younger folks who will keep their cards as their spending increases. That, of course, is just pure speculation on my part.
It is all about $$$ and AmEx does not even care what demographics they want to attract.
When AmEx announced the new changes, all of those partners were very happy. Their hyped stock prices (already IPO'ed) jumped. Goldman stated AmEx stock was going to jump. I laughed at that Goldman analyst. He certainly does not read FT.
AmEx gets little or almost no cost with offering Peackcock TV, NY Times, Equinox, Uber, Grubhub etc.... Yes AmEx wants to jack up the AF.....
When I called AmEx about canceling Platinum card, that analyst appeared to be very concerned. He knew exactly what I was talking about. All the new changes. It seems more people are cancelling the Plat card.