Bank of America joined the field last month with its Accolades card, issued on the American Express network.
American Express has linked deals on Facebook to its card, allowing people with both accounts to get deals from select merchants and redeem them by just using their Amex card.
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American Express earns revenues from card licensing fees, royalties on billings, charge volume, net spread revenue and cards in force, foreign exchange conversion revenue and also a share of the discount revenue earned by the operator.
American Express charges merchants a higher fee on its card products at close to 2.25% compared to the industry average of 1.9% of the billed amount since American Express customers tend to be higher income and higher spending consumers on average.
Bank analyst Dick Bove speculates that it could be receiving a commission from American Express every time cash is loaded on to the card or that it might be sharing in the return on the float.
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With Bluebird, American Express has finally delivered on true potential of the debit card.
We had a bubble-and-bust economy, again, another chapter that they'll talk about, where we thought somehow job growth could be predicated on the availability to get an American Express card or a housing loan.
American Express reported a 7% year-on-year increase in card billed business in the U.S. for the fourth quarter of 2012, complemented by a 5% increase in spend per card in the country.
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American Express leverages its affluent card member base to charge the retailer a higher commission on the transactions.
Blue Cash Everyday Card from American Express offers special department store bonuses to help you save money on your job-hunting togs.
And whether your holiday celebrates buying gifts in a store, buying them online, or using an American Express charge card to finance the buy, your share of the holiday loot depends on your ability to sell to consumers what they want at the lowest available delivered price.
American Express, as well as Visa and MasterCard, are expectant of Federal Reserve regulation on credit card transactions which could limit their interchange fee, or their capacity to charge different fees to different vendors.
The American Express Centurion card, also known as the "Black AmEx, " is the subject of much speculation on Internet chat rooms.
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