What Do Plumbers and Gen Zers Have in Common?

©iStock/AndreyPopov

Both are spending money right now.  That is, plumbers and Gen Zers.

AmEx said that card acquisitions hit a record level in the third quarter for U.S. small-business and consumer Platinum and Gold cards. The company noted that goods-and-services spending by global small- and medium-size enterprises in the third quarter was 21% above the same period in 2019, before the pandemic, compared with a 4% currency-adjusted rise for billed business overall.

There is going to be a big race to capture spending and borrowing as travel bounces back, both among card companies and upstart rivals like installment lenders.

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