AmEx Adds Uber Perks to Gold Card, Brings Back Rose Gold Option
(Bloomberg) -- American Express Co. is tweaking the rewards on its Gold card as the credit-card company strives to hold onto affluent customers.
Customers with the $250-a-year card will now receive a $10 monthly credit for purchases made with Uber Technologies Inc., including rides or food deliveries. AmEx also said it would revive its Rose Gold Card after offering the color variation for a limited time in 2018 and 2019.
“Our Rose Gold design quickly became a card member favorite when we introduced the limited-edition design a few years ago, so we knew we needed to bring it back as an option to choose from permanently,” Rachel Stocks, executive vice president of global premium products and benefits, said in a statement Thursday.
AmEx, long known for premium travel and dining perks, has had to revamp many of its popular cards after the coronavirus pandemic sapped consumer spending in both categories for much of last year. So far, the efforts appear to be working: The company has said it hasn’t seen any increases in attrition on its proprietary cards, and card fees were the only revenue category to climb in 2020.
Still, the extra perks have begun to add up. The company spent a combined $4.15 billion on marketing, business development and rewards in the final three months of 2020. While that was down 11% from a year earlier, it was up 8.6% from the third quarter.
©2021 Bloomberg L.P.