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AmEx Sees Red as Cardholders Struggle

Credit card company is seeing more cards fall delinquent as economy worsens

By Jim O'Neill, Newser User

Posted Oct 20, 2008 7:58 AM CDT

(Newser) – American Express—expected today to report earnings skidded more than 30% from the third quarter a year ago—isn't quite the industry gem it once was, reports the Wall Street Journal. The company, long a top performer who catered to affluent customers, has seen a... Read full story »

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AmEx Sees Red as Cardholders Struggle

Credit card company is seeing more cards fall delinquent as economy worsens

American Express • credit card • credit market • financial crisis • Kenneth Chenault

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More Newser Stories

AmEx to Clients: Here's $300, Now Get Lost

Credit card firm looks to limit exposure

Smarting, Credit Card Companies Cut Rewards

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AmEx Will Lay Off 7K

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