I logged on to check the balance. The web site told me if I did not give them an updated physical address they would void the card. OK, please do :) In the meantime I got another offer from them for their new product:
My perception is that losing the Costco deal is going to be pretty damaging from a business perspective. Let's see what Mr. Market thinks. The real risk here is that the longer this trend continues the greater the potential damage, if people quit accepting the credit card, Discover, (which is also trailing the S&P 500), could take some market share.
American Express Co., the biggest U.S. credit-card issuer by purchases, is spending more money to attract cardholders and actively seeking retail partners as it works “with a great sense of urgency” to improve results, Chief Executive Officer Ken Chenault told shareholders.