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Amex Offering Cardholders $50 To Shop At Small Businesses

by Gary Leff on June 29, 2020

Jun 29 2020

American Express conjured up a holiday, Small Business Saturday, in a pique of marketing brilliance. They wanted to promote card acceptance with small merchants in a drive to reach parity with Visa and Mastercard, and promote awareness among their own cardmembers that Amex is accepted at small businesses.

American Express has a new small business promotion now – an ‘Amex Offer’ you can add to one personal card that will give you a $5 rebate on up to 10 purchases of $10 or more (total $50) at eligible small businesses.

$20 Off Amazon After Spending $50 With An American Express Card (Not Targeted)

by Gary Leff on June 25, 2020

Jun 25 2020

Amazon is offering $20 for a future purchase after spending $50 using an American Express card

Warren Buffett’s Advice To The CEO Of American Express

by Gary Leff on May 30, 2020

May 30 2020

It’s important to define who you are, and tell that to your customers. It’s also important to tell that to your employees, so they know how to make decisions inside the company.

Apple can focus on creative types, empowering them to pursue their missions and dreams. Nike can celebrate great athletes. Very few companies have been able to create a clear purpose that customers associate the way American Express has. Without that brand American Express might as well be Discover.

Delta and United Both Report: People Aren’t Shifting To Cash Back From Mileage Credit Cards

by Gary Leff on May 21, 2020

May 21 2020

Delta’s CFO acknowledges SkyMiles members taking “a little hiatus when people aren’t going to travel,” but that the program still continues to motivate spend because it gives people “something to look forward to [the] prospect of saving up for something.” Then he offers insight into how the Delta portfolio is performing relative to American Express’s other products.

Marriott Hits Up Credit Card Partners For A Billion Dollars

by Gary Leff on May 5, 2020

May 05 2020

Marriott announced a deal for $920 million dollars with its co-brand credit card partners. In exchange for the cash Marriott has extended its co-brand deals with both partners.

These deals aren’t just good for the travel company, they’re good for consumers. But there’s an interesting reason we’re seeing hotel chains access their loyalty programs for cash before airlines do the same.

Marriott Consumer Credit Cards Earn 6x On Groceries, May Through July

by Gary Leff on April 30, 2020

Apr 30 2020

We’re in a recession. We’re not traveling. Rewards credit cards that are optimized for travel may not be top of wallet. Cards that are optimized for heavily travel customers may also not match current spending patterns. We’re beginning to see brands and issuers adapt.

American Express Just Bought Nearly Half a Trillion Hilton Honors Points

by Gary Leff on April 17, 2020

Apr 17 2020

A month ago I wrote that frequent flyer programs would save the airlines because they offer rich sources of value and cash. However while United and Delta are reportedly in talks to sell large chunks of miles at a discount to their credit card partner banks, it’s actually Hilton that’s first out of the gate with this.

Hilton shared with the SEC that they’ve pre-sold $1 billion worth of points to American Express. That probably somewhere around half a trillion Honors points.

United and Delta Discussing Big Discounted Mileage Sales to Chase And American Express

by Gary Leff on April 13, 2020

Apr 13 2020

In the years following 9/11, as airlines struggled, and again during the financial crisis airlines pre-sold miles to their credit card partners at a discount in order to raise cash quickly. United and Delta each pre-sold miles, the former for about $500 million and the latter twice totaling about $1 billion. American did it too with Citibank. These ‘cheap miles’ paved the way for banks to offer big bonuses to consumers both for acquisition and for ongoing spend.

These conversations have started again as a way to raise cash.

Delta Extends Elite Status, Club Memberships And Rolls Over Qualifying Miles To Next Year

by Gary Leff on April 5, 2020

Apr 05 2020

Everyone pauses in place and gets a do-over. That’s the message from Delta which announced an extension of elite status, club memberships, vouchers and more.

There’s a natural reason why Delta is first among U.S. airlines to do this – and an advantage they have in rollover qualifying miles that better positions them to still take advantage of their elite program when travel comes back.

American Express LAX Centurion Lounge Opens Monday

by Gary Leff on March 6, 2020

Mar 06 2020

The American Express Centurion Lounge LAX opens Monday in the Tom Bradley International Terminal and features a spa, celebrity chef meals, and more.