American Express Is Getting Serious About Its High-End Credit Cards

American Express Is Getting Serious About Its High-End Credit Cards

American Express (NYSE: AXP) has been known as the leader in high-end credit card products for many years now, and recent news indicates a renewed effort from the company to maintain that position. Here's why the recent enhancement of American Express' co-branding relationship with Hilton (NYSE: HLT) is such a significant news item for the company's investors.

Earlier in 2017, American Express announced that it had been selected to become the exclusive issuer for Hilton co-branded credit cards in the U.S., starting Jan. 1. As part of the agreement, American Express is also acquiring Citigroup's existing Hilton credit card portfolio.

American Express is trying to be the credit card of choice for high-spending frequent travelers. Image source: Getty Images. (Note: Image doesn't necessarily depict an American Express product.)

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Source: Fool.com