The credit card wars are heating up again as Citigroup takes on JPMorgan with new 5% cash-back card [CNBC]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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Source: CNBC
Unlike existing cards from competitors including JPMorgan Chase, the new product, called Custom Cash, doesn’t require users to enroll into or select the categories for that 5% rate; instead it automatically applies the rate to a user’s top category of spending. “It had been a slow year, but then suddenly things are popping again,” said Ted Rossman, a senior analyst at CreditCards.com. “It just shows the card companies want in on the rebound in spending.” Banks have been falling over themselves recently to entice new credit-card customers, dangling hefty 100,000 point bonuses and rolling out new products. Now Citigroup is making a push in one of the fastest-growing card segments. The bank is launching a credit card Thursday that gives users 5% cash back on up to $500 of spending per month in a category – from restaurants to groceries or travel – and 1% cash back on all other purchases, according to Pam Habner, Citigroup’s head of U.S. branded cards. Unlike existing cards from comp
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AXP
Earnings
- 4/19/24 - Beat
AXP
Sec Filings
- 4/26/24 - Form 13F-HR
- 4/25/24 - Form 4
- 4/25/24 - Form 8-K
- AXP's page on the SEC website