Over the years I grew up with American Express being positioned as a prestigious, high status credit card brand. They worked so hard on it that they made sure their cards were accepted only at places of high status - luxury restaurants, hotels, etc.
Eaton's Centre in Toronto the other day. Made me think: "Burger and American Express? Really?"
An Amex black card may even have been a goal for some aspiring businesspeople out there, but now that they can use the Amex card at the local burger joint, what does this do to the brand?
I wonder why Amex made the decision to go mainstream and compete for the same customers that are currently catered to by Visa and MasterCard. They had a nice little niche - is it because the high status, high spending group is shrinking? Or they feel like they've saturated that market?
What do you think is the reason for this switch in brand positioning?