NEW YORK (CNNMoney) — Interest rates on some American Express credit cards will be increasing, according to letters sent out to customers this month. The rate hikes will affect “a small percentage” of the company’s 55 million U.S. cardholders, who NEW YORK (AP) - American Express increased interest rates on some of its credit card accounts by an average of 2.5 percentage points in recent weeks, a spokeswoman for the company said Wednesday. Spokeswoman Elizabeth Crosta declined to say how many of its He writes "Cashing In," a weekly column about credit card rewards programs, for CreditCards.com It is true that American Express recently announced that the partnership between it and discount wholesale club Costco is ending. Under that arrangement Interest rates on some American Express credit cards will be increasing, according to letters sent out to customers this month. The rate hikes will affect "a small percentage" of the company's 55 million U.S. cardholders, who will see an average increase American Express Co is raising interest rates for over 1 million cardholders for the first time in more than five years, Bloomberg reported. American Express told customers this month that their annual rates will rise an average of 2.5 percentage points to American Express is raising interest rates for more than a million of its credit-card customers, with an average increase of 2.5 percentage points, Bloomberg News reported on Wednesday (Feb. 25). The rate hike, which is the first general increase by AmEx .
The increases are effective June 1. At the same time, American Express is adding some benefits to those cards. The Premier Rewards Card will now have a $100 credit for incidental airline fees such as baggage and will wave foreign transactions fees while .
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