Credit card rewards programs are popular but costly

01/13/2013 | Wall Street Journal, The

Credit card rewards are popular with customers and lead to loyalty, but they have become costly to card issuers. For example, American Express is taking a $342 million quarterly charge linked to its Membership Rewards program. The rewards "drive higher billings, and they result in closer, longer-lasting relationships with our cardmembers," said AmEx Chief Financial Officer Daniel Henry.

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Wall Street Journal, The

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