Take a fresh look at your lifestyle.

Amex Pulls Back On Adding New Credit Card Customers

Just days after American Express announced a four card limit, Amex’s CFO’s confirms the credit card issuer has pulled back on adding new credit card customers

0 547

Get real time updates directly on you device, subscribe now.

Amex has pulled back on adding new credit card customers because American Express “can’t get a clear picture of consumers’ financial health and employment trends”, according to a Bloomberg report. Companies in the U.S.A. who have received CARES funding had an obligation to keep workers employed until the end of September. Credit card issuers across the nation now have concerns over a possible surge in layoffs starting October. 

“The question is, Where does the economy go over the next six to twelve months?” Chief Financial Officer Jeff Campbell said at a virtual investor conference on Wednesday. “Have we had the main shock of unemployment and stress on the small businesses” or, he added, “are you going to see further shocks?”

Amex’s CFO statement comes just days after Amex announced that the credit card issuer will now have a four card limit instead of the previous five card limit. It is worth noting that this restriction doesn’t include Amex’s charge cards in the count.





Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Subscribe to The Credit Shifu updates and special offers

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Codec News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More