CardsFTW #198: Amex Sponsors NFL

Amex Wins NFL Sponsorship

For as long as I can remember, Visa has been the official payment network sponsor of the NFL. This sponsorship earns them loads of mentions and logos across the most-watched sport in America. It also makes Visa the network on the NFL Extra Points Credit Card, which is issued by Comenity Capital Bank (aka Bread Financial aka Alliance Data Systems).

Anyone who has been in the co-brand credit card space will tell you that traditional sports affinity cards aren’t great portfolios. The joke used to go that the only reason a bank would take on this portfolio was for a guaranteed ticket to the Super Bowl each year. 

The current NFL Extra Points Visa isn’t terrible: 2% back on groceries, food delivery, dining, gyms, and sporting goods, plus 1% everywhere else. Oh yeah, and 3% on qualifying NFL and NFL team purchases (usually not a huge part of anyone’s budget). Cards like this have tried to stand out through affinity (e.g., get your team’s logo on the card) and access (e.g., use points for tickets).

Last week, American Express announced that they will now be the “official payments partner” of the NFL. This allows all Amex members to have access to presale tickets for International Games, experiences at the NFL draft, and more. The NFL Extra Points Cards will continue to be issued by Comenity, but will be migrated from Visa to Amex. (Another great example of the growth of Amex’s network issuance business, in which a third-party bank issues the cards, not American Express itself).

I want to believe in Amex, Bread, and the NFL to make these cards better. People love their sports teams, so why can’t they love their sports cards? I am sure there is a way to make a sports card feel like a true co-brand card, not an affinity card with “just a logo on it.”

Amex Launches New Business Graphite Card

Speaking of American Express, the issuer launched its first new business card in a long time: The American Express Graphite™ Business Cash Unlimited Card. It’s a good looking card and answers the question: What element will Amex use next? The answer is carbon (but you know, in crystallized form). That wasn’t on my list; I was expecting Titanium. Maybe they could have gone with Iridium or Rhodium? Certainly not anything radioactive, although the Amex Cesium has a ring - you better pay that one on time.

Coming back from high school chemistry, the Graphite card is a basic 2% cashback card. That’s it. But Amex, didn’t you have a 2% cashback card (Blue for Business Cash)? Sort of. That one limits you to 2% on the first $50,000 per year. 

2% is a pretty good deal. It might be time for me to rethink my business card structure which is a confusing mess of Ramp (1.5% cashback), Chase Ink Unlimited (also 1.5%), and some Amex cards I opened at various points because I wanted signup bonuses. Am I overpaying on annual fees? Yes, yes I am.

Amex also tied this announcement into a new corporate card with cashback and more expense management tools, based on their acquisition last year of Center. If Center can compete with Ramp and other modern entrants, they will have a winner due to the reach of Amex in small business.

New Amazon Prime Business Cards

American Express didn’t win everything this week. They lost the Amazon business card program, which will be migrating from American Express (issued and network) to a new Mastercard card issued by U.S. Bank. Amazon continues to split its card offerings by network with consumer cards offered by Chase on Visa (open loop), Synchrony (closed loop), and now U.S. Bank on Mastercard (business).

The new card offerings include: Prime Business (5% cashback at Amazon) and regular Business (3% cashback without Prime). 

I do not have this Amex, but I would be concerned if I did: the Amex small business experience is great and U.S. Bank doesn’t have the same reputation for user experience.

BofA and Royal Caribbean

In a weird flex, Bank of America and Royal Caribbean Group announced “the cruise industry's first tri-branded credit cards” with Royal Caribbean's three brands (Royal Caribbean, Celebrity Cruises, and Silversea) sharing cards. To which I say: feels less like a flex than proof that RCG (I can’t type Caribbean anymore) has too many brands.

Two new cards are launching:

1. Royal ONE
2. Royal ONE Plus

The base card has no annual fee, 3x points on RCG brands, and 2x points on gas, charging and groceries, while the Royal ONE Plus has a $99 annual fee, 4x points on RCG brands, and the rest is the same. Also, some things like priority luggage handling and credit toward TSA PreCheck or Global Entry. These cards replace the current Royal Caribbean and Celebrity Visas, also from BofA.

If you know a cruise person, you know they LOVE being on a ship. (Fun fact: there is no official term for people who take a lot of cruises, though Frequent Floater is pretty solid.) Allowing these folks to earn and redeem points across all three brands will ideally encourage cruisers to move between brands and stay within the RCG. Cruise bloggers are excited.

Fintech Meetup

Finally this week, some notes on Fintech Meetup.

It’s always wonderful to connect with clients, partners, colleagues, and friends in person. I was flattered and surprised when a few people stopped me to let me know they are readers! Thank you.

I joined a great panel with folks from Spade, Stripe, and Cardless to talk about first-party data and its power to transform and enhance cardholder programs from rewards, to basic UX, to dispute reduction.

However, and I know I’m not alone here, the overall vibe was that the conference was not great. Maybe it’s that it moved to Mandalay Bay (we all love to hate on the Venetian, but it’s a place we know). Maybe it was the terrible scheduling (Spring Break, Easter, Pesach). Maybe it was the inevitable way that conferences falter after they are sold by their founders. 

The whole point of Fintech Meetup is to meet new people through the business speed-networking portion. However, the complaints of who got meetings with whom and the increasing pay-to-play nature of it were quite loud.

In 2027, FTMU will move back to the Venetian and to February which should help. Industry flagship conference Money20/20 is still at the Venetian this fall, but will move to the convention center in 2027. (A move which the cynical amongst us believe is all about value capture, but will also be the beginning of the end.)

I’m excited for Fintech Nerdcon in San Diego (I am on the content council there). I’m also quite curious what people would want in a conference? Do you get value out of the content? Do you just need an excuse to meet people in person? Do you love Vegas or hate it? Let me know! 

CardsFTW

CardsFTW, released weekly on Wednesdays, offers insights and analysis on new credit and debit card industry products for consumers and providers. CardsFTW is authored and published by Matthew Goldman and the team at Totavi, a boutique consulting firm specializing in fintech product management & marketing. We bring real operational experience that varies from the earliest days of a startup to high-growth phases and public company leadership. Visit www.totavi.com to learn more.

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