TL;DR CNBC

Here's the real reason why American Express gives out such big rewards

Publishing timestamp: 2023-01-27 13:54:51

Summary

American Express is a giant in the credit card industry and has seen a 32% increase in revenue since 2017. Their main source of revenue is "discount revenue" or fees charged to merchants that accept its cards. They target affluent cardholders through a "spend-centric" model that focuses on generating revenue primarily by driving spending on its cards. They also provide rewards to their card members, which has contributed to their success.

Sentiment: POSITIVE

Tickers: DFS,  V,  MA,  AXP, 

Keywords: business news,  wall street,  interest rates,  discover financial services,  american express co,  credit card rewards,  video first,  united states,  earnings,  visa inc,  credit cards,  stock markets,  mastercard inc, 

Source: https://www.cnbc.com/2023/01/27/heres-the-real-reason-why-american-express-gives-out-such-big-rewards.html