American Express Clamps Down On Points Churners — Skift Business Traveler

WHAT TO KNOW NOW

The practice of signing up for a credit card solely for the loyalty points might be going out of style if American Express has its way. Locked in a battle with Chase for premium credit card products, the bank is apparently concerned with the volume of freeloaders signing up for cards simply for the points — and then closing their accounts.

As a result of the so-called churners, American Express is raising annual fees (though it is including new perks), and states it plans to “surgically remove gaming and reinvest in higher-quality, more loyal new customers.”

Points churners will no doubt find greener pastures after American Express turns its back, but the question remains: What was the company expecting when it offered such healthy signup bonuses?

SOCIAL QUOTE OF THE DAY

Love my American Express Platinum card, but now they want a $550 annual membership fee!? No longer a good value proposition… #AmexPlatinum

– @dewjr87 | D. White, owner of Westvilla Music

AIRLINES

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AIRPORTS

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TECH

American Express Will Weed Out Points-Chasing Credit-Card Churners: American Express Co. is looking to weed out customers who jump from credit card to credit card just for the sign-on bonus. Read more at Skift

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HOTELS

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YOUR TURN

Anthony Bourdain is apparently working on a mobile app built off of his CNN TV show. Read more about the launch at Eater.

TIPS AND COMMENTS

Can be sent to gm[at]skift[dot]com or to @grantkmartin

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