Of course, it's worth pointing out that American Express's cardholders tend to be a bit more affluent than average, and are therefore mostly unfazed by economic soft patches. As CEO Stephen Squeri pointed out of its Q2 numbers despite the turbulent economic backdrop at the time, "Our second-quarter results continued the strong momentum we have seen in our business over the last several quarters, with revenues growing 9 percent year-over-year to reach a record $17.9 billion, and adjusted EPS rising 17 percen ...

American Express is attracting new customers despite increasing the annual fees on two of its most popular cards. In September, it hiked the annual fee on its Platinum Card from $695 to $895 but also rolled out more perks.The company more than makes up for this shortfall from discount revenue (merchant fees) -- which accounted for 69.8% of total revenue in 2024. However, net card fee revenue increased by 39.2% from 2022 to 2024 compared to a 14.5% increase in merchant fee revenue, indicating a huge uptick i ...

Before the refresh of The Platinum Card® from American Express, everyone (myself included) wondered whether the benefits would provide enough value to justify paying the card’s annual fee. We knew the annual fee was going up. With premium travel credit cards, that seems to be standard operating procedure every few years. Would I have ever guessed I’d be paying $895 a year for a credit card when I got into this hobby-turned-profession over a decade ago? Definitely not. But here I am, doing just that. Why? ...

We recently published These 10 Stocks are Buzzing After Important Analyst Calls. American Express Company (NYSE:AXP) is one of the stocks analysts were recently talking about. Kevin Simpson, Capital Wealth Planning founder and CIO, said in a recent program on CNBC that American Express can go higher. “American Express. We think that the millennials and the Gen Z are in this ecosystem. Stocks that make new highs can go higher,” Simpson said.   GreensKeeper Asset Management stated the following regardi ...

CNBC's Jim Cramer suggested that it can seem hard to make new investments in this market as the indexes soar to new heights. However, he said there still are relatively inexpensive stocks to be found, naming S&P 500 names in several sectors that stand out to him."Sometimes it can feel like there's nothing left to buy," he said. "When you do a little work, you can find a host of cheaper than average stocks with above average growth."Cramer first highlighted T-Mobile, noting that he's confident in the cell ne ...

Cardless, a credit card platform allowing companies to design and launch branded credit cards in-house, announced the close of a $60 million Series C funding round led by Spark Capital. The new financing brings the company’s total capital raised to over $170 million to date. Other investors include Activant Capital, Industry Ventures, and Pear VC. Spark Capital, which has previously backed high-profile companies such as Slack, Coinbase, and Anthropic, shows the potential of Cardless to reshape the $200 b ...

Financial expert Dave Ramsey is unapologetic when it comes to the credit card industry. His message is consistent: credit card companies don't deserve your trust, and their advice is often designed to keep you in debt. Ramsey Calls Out Credit Card Lies And Cultural Messaging On an episode of “The Ramsey Show,” a 60-year-old nurse named Carla called in from Florida. She was making $138,000 a year, had no mortgage, and had just finished paying off six credit cards. When she mentioned that a card company to ...

These stocks will benefit in a big way from heightened economic activity.It wasn't a big surprise that Federal Reserve Chairman Jerome Powell cut interest rates at the Fed's September meeting on Wednesday. In July, he implied in no uncertain terms that a rate cut was coming, and the likelihood was that it was going be a quarter of a point. That's what has happened. The governing body also signaled that two more cuts would come at its next two meetings, in October and December.Powell noted that there are mix ...

The risk of credit card fraud doesn’t end when or where you swipe your card. Any business that stores your credit card number could experience a data breach in which a hacker attains access to your information. These types of attacks have affected large and small sellers — and their customers — in many different industries. Read Next: Key Signs Your Credit Card Is Quietly Wrecking Your Finances For You: 10 Used Cars That Will Last Longer Than the Average New Vehicle However, the risk of swiping your physi ...

American Express Co AXP has announced significant upgrades to its U.S. Platinum cards, adding new perks worth over $3,500 annually while increasing the annual fee by $200.Amex Revamps Platinum Perks, Raises Annual Fee to $895The updated perks will feature credits for dining via Resy, shopping at Lululemon LULU, and Uber One memberships, along with enhanced hotel and entertainment benefits, reported Reuters. Platinum Business cardholders will gain new credits for Dell DELL and Adobe purchases ADBE, a $600 ho ...