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American Express (AXP) Unit Shifts Focus to Rewards Program
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American Express Company’s (AXP - Free Report) unit American Express Canada has announced a strategic decision to intensify its focus on the Membership Rewards program, marking the end of its co-brand partnership with AIR MILES. This move highlights AXP’s commitment to providing value and enhanced service experiences to its cardmembers in Canada.
Transitioning to Enhanced Rewards Value
Following a thorough evaluation, American Express Canada has formulated a seamless transition plan for cardmembers impacted by this change. By Sep 30, 2023, these cardmembers will be smoothly shifted to an American Express product that earns Membership Rewards. Individual cardmembers will receive a notification in early July, outlining the transition dates and the new product offers. The enhanced benefits include maximized earning potential and flexible redemption options, such as flights, hotels, or offsetting eligible purchases with statement credits.
Emphasizing the Power of Membership Rewards
Brett Mooney, president and CEO of Amex Bank of Canada, affirmed American Express Canada's commitment to providing superior products and services to Cardmembers. With the transition, Cardmembers can confidently rely on the award-winning Membership Rewards program, which has been recognized as the most flexible loyalty program in Canada by Rewards Canada. The program offers a variety of redemption options, not limited to select merchants. Cardmembers can earn rewards on almost all card spending, with industry-specific accelerators such as 5x Eats & Drinks on the American Express Cobalt Card. Points can be effortlessly redeemed for statement credits, travel, merchandise or gift cards.
Beyond Membership Rewards
In addition to the Membership Rewards program, American Express Canada continues to offer a range of benefits to its Cardmembers. These include travel credits, lounge access, travel insurance, Amex Offers, Front Of The Line privileges and payment flexibility. By aligning its focus on the Membership Rewards program, American Express aims to provide Cardmembers with comprehensive rewards flexibility and value.
American Express Canada's decision to concentrate on the Membership Rewards program reflects its dedication to meeting the evolving needs of Cardmembers in the country. By transitioning to a program that offers flexibility and a wide range of benefits, Cardmembers can continue to enjoy the trust, service and security that American Express provides.
Its shares have gained 14.2% in the year-to-date period, outperforming the 7.7% rise of the industry.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the same space are Burford Capital (BUR - Free Report) , Moody's (MCO - Free Report) and Chicago Atlantic Real Estate Finance (REFI - Free Report) , each carrying a Zacks Rank #2.
Burford Capital’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, with the average surprise being 350.0%. The Zacks Consensus Estimate for BRU’s 2023 earnings per share indicates a year-over-year increase of 1,422% on 137% higher revenues. Year to date, BRU shares have lost 12.5%.
Moody's delivered an average four-quarter earnings surprise of 7.26%. The Zacks Consensus Estimate for MCO’s 2023 and 2024 earnings per share indicates a year-over-year increase of 14.6% and 13.3%, respectively. Year to date, MCO shares have gained 21.8%.
Chicago Atlantic Real Estate delivered an average four-quarter earnings surprise of 4.48%. The Zacks Consensus Estimate for REFI’s 2023 earnings per share indicates a year-over-year increase of 36.3% on 34.2% higher revenues. Year to date, REFI shares have gained 0.4%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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American Express (AXP) Unit Shifts Focus to Rewards Program
American Express Company’s (AXP - Free Report) unit American Express Canada has announced a strategic decision to intensify its focus on the Membership Rewards program, marking the end of its co-brand partnership with AIR MILES. This move highlights AXP’s commitment to providing value and enhanced service experiences to its cardmembers in Canada.
Transitioning to Enhanced Rewards Value
Following a thorough evaluation, American Express Canada has formulated a seamless transition plan for cardmembers impacted by this change. By Sep 30, 2023, these cardmembers will be smoothly shifted to an American Express product that earns Membership Rewards. Individual cardmembers will receive a notification in early July, outlining the transition dates and the new product offers. The enhanced benefits include maximized earning potential and flexible redemption options, such as flights, hotels, or offsetting eligible purchases with statement credits.
Emphasizing the Power of Membership Rewards
Brett Mooney, president and CEO of Amex Bank of Canada, affirmed American Express Canada's commitment to providing superior products and services to Cardmembers. With the transition, Cardmembers can confidently rely on the award-winning Membership Rewards program, which has been recognized as the most flexible loyalty program in Canada by Rewards Canada. The program offers a variety of redemption options, not limited to select merchants. Cardmembers can earn rewards on almost all card spending, with industry-specific accelerators such as 5x Eats & Drinks on the American Express Cobalt Card. Points can be effortlessly redeemed for statement credits, travel, merchandise or gift cards.
Beyond Membership Rewards
In addition to the Membership Rewards program, American Express Canada continues to offer a range of benefits to its Cardmembers. These include travel credits, lounge access, travel insurance, Amex Offers, Front Of The Line privileges and payment flexibility. By aligning its focus on the Membership Rewards program, American Express aims to provide Cardmembers with comprehensive rewards flexibility and value.
American Express Canada's decision to concentrate on the Membership Rewards program reflects its dedication to meeting the evolving needs of Cardmembers in the country. By transitioning to a program that offers flexibility and a wide range of benefits, Cardmembers can continue to enjoy the trust, service and security that American Express provides.
Zacks Rank and Price Performance
AXP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its shares have gained 14.2% in the year-to-date period, outperforming the 7.7% rise of the industry.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks in the same space are Burford Capital (BUR - Free Report) , Moody's (MCO - Free Report) and Chicago Atlantic Real Estate Finance (REFI - Free Report) , each carrying a Zacks Rank #2.
Burford Capital’s earnings surpassed the Zacks Consensus Estimate in the last four quarters, with the average surprise being 350.0%. The Zacks Consensus Estimate for BRU’s 2023 earnings per share indicates a year-over-year increase of 1,422% on 137% higher revenues. Year to date, BRU shares have lost 12.5%.
Moody's delivered an average four-quarter earnings surprise of 7.26%. The Zacks Consensus Estimate for MCO’s 2023 and 2024 earnings per share indicates a year-over-year increase of 14.6% and 13.3%, respectively. Year to date, MCO shares have gained 21.8%.
Chicago Atlantic Real Estate delivered an average four-quarter earnings surprise of 4.48%. The Zacks Consensus Estimate for REFI’s 2023 earnings per share indicates a year-over-year increase of 36.3% on 34.2% higher revenues. Year to date, REFI shares have gained 0.4%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.