This Week in Credit Cards: Amex Swings for the Fences

This week was a busy one for American Express. The leading credit card issuer introduced a new product — the Graphite Business Cash Unlimited Card — that allows businesses to earn cash back on card purchases.

Cardholders can earn 2% cash back on every eligible purchase they make with the card and 5% cash back when they use the card to book flights and hotel accommodations through Amex’s travel portal.

This Week in Credit Cards: Amex goes big on business, fraud losses are soaring, and comfort comes first for premium travelers. Read the article: https://t.co/1rgD46ChRB pic.twitter.com/YqhjSbSD8W

— CardRates Industry News (@CardRatesNews) March 27, 2026

But American Express didn’t stop there. The company revealed that it has another new card for businesses that it plans to release later in the year and announced a number of enhanced tools it’s offering to help business owners manage their expenses. 

The new products and services from American Express make it clear that the company is committed to meeting the needs of its business cardholders in 2026.

The Office of the Comptroller of the Currency (OCC) filed a court brief regarding the Illinois Interchange Fee Prohibition Act (IFPA). The act seeks to block groups from charging interchange fees on the tax and tip portions of a bill that a customer pays with a credit or debit card.

But the OCC alerted in its brief that the IFPA stands to upend the payments system in the U.S. 

Meanwhile, lawmakers in both Colorado and Delaware are moving forward with plans of their own to restrict interchange on card transactions. The card industry will be watching these matters closely over the coming weeks and months as they could lead to similar proposals in other states.

The IFPA will take effect on July 1, 2026 unless efforts to stop or delay it are successful.

Consumer fraud losses have soared in recent years as new findings show people reported losses totaling $15.9 billion in 2025. A report from PYMNTS revealed that fraud losses for consumers have quintupled since 2020.

Actual fraud losses may have been even higher than $15.9 billion in 2025 as some people may not have communicated the losses they suffered to the Federal Trade Commission, the report noted.

What particularly caught the attention of the team at CardRates was that credit cards were the most common method people used to send funds to scammers. Credit card issuers can help cut down on fraud by reminding their customers of best practices when it comes to making payments with their cards.

Robert Isom, CEO of American Airlines, spoke favorably of his company’s rewards system at a recent conference. 

“American has always been the leader with our AAdvantage program, and we intend to capitalize on that and make it even better,” Isom said. 

Isom’s comments come at a time when cardholders are finding some travel-related rewards more difficult to access. For example, a recent report reveals that both Capital One and Chase are limiting the number of guests customers can bring with them to airport lounges.

We’ll continue to monitor for further fluctuations across the travel rewards landscape.

A new survey from Barclays shows that cardholders are seeking ways to access more comfort and reduce stress while traveling. 

CardRates caught up with Doug Villone, Head of U.S. Cards and Partnerships at Barclays, who told us that most people who took part in the survey mentioned how difficult the travel experience has become. 

The survey’s results stand to have a significant impact on issuers that offer travel rewards with their card programs. Villone disclosed to us that many people who travel fall into the mass affluent segment. And those people may have more interest in having smooth travel experiences than simply gaining access to a free or discounted ticket to their destination.

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