“I’m heartened by some rationality in the competitive environment,” Doug Buckminster, president of AmEx’s global consumer services group, told investors last month. The industry is becoming more aggressive in trying to prevent “gaming” of introductory bonuses, Buckminster said, and companies have removed some features that were “expensive and not resonating.”
Citigroup has been expanding its partnership with American Airlines in recent months, offering consumers enrolled in the program the ability to open checking accounts in exchange for more miles.
This article was provided by Bloomberg News.