Tag Archives: Financial Services

AmEx Raises Credit Card Rates, Cuts Jobs, Faces Pressure From Visa And MasterCard

American Express made two announcements last month: First, the financial services corporation will be cutting over 4000 jobs companywide. Second, interest rates will rise for over one million AmEx cardholders. This is following increased competition from Visa and MasterCard, reports that AmEx has been losing their wealthiest customers, and recent industry rumours that Costco and […]