In a move that sent AmEx stock prices spiraling, Costco Wholesale Corp. and American Express Co. reported that the 16-year partnership between the two companies would soon end. The announcement that took many members by surprise also marks the end for TrueEarnings, AmEx’s Costco-centric loyalty program, which has been a positive factor in encouraging customer engagement for years.
The TrueEarnings loyalty program has historically offered shoppers significant benefits. In addition to waving all annual fees for Costco members, it....