American Express (NYSE: AXP) and Capital One Financial Corp. (NYSE: COF) raised rates on two of their most popular cards before February 22, when the Credit Card Accountability, Responsibility and Disclosure (CARD) Act kicked in.
American Express bumped its average annual percentage rate (APR) on its Blue Card to start at 15.24 percent, up from 8.99 [...]
All Posts Tagged With: "American Express"
American Express (NYSE: AXP) And Capital One (NYSE: COF) Joined The Big Banks Raising Credit Card Rates
U.S. Credit Card Defaults Rise In November; Citigroup (NYSE:C), Bank Of America (NYSE: BAC) Lead The Way, While AMEX (NYSE: AXP) Improves
After falling a month earlier, financial institutions reported rising credit card defaults in November. Bank of America (NYSE: BAC) still leads all big banks with a 13 percent default rate, but Citigroup (NYSE: C) posted the largest rise as defaults jumped 1.5 percent to top 10 percent in November.
JP Morgan Chase (NYSE: JPM), the nation’s [...]
American Express (NYSE: AXP) Acquiring Revolution Money for $300 Million
American Express (NYSE: AXP) announced it’ll be buying Revolution Money, the company started by co-founder of AOL – Steve Case – for close to $300 million.
Revolution Money focuses on the emerging demand for electronic payments and securing these transactions to make them safe for consumers to use.
Close to one million merchants participate in the major [...]
American Express (NYSE: AXP) Sees Q3 Profit Slip 22 Percent
American Express (NYSE: AXP) announced Thursday night that third quarter profit dipped 22 percent to $632 million as cardholder spending fell 11 percent overall to $156.6 billion. However, Amex suggested that overall card billings have stabilized and spending trends have become encouraging.
Excluding a one-time benefit totaling $180 million related to an accounting change, American [...]
New JPMorgan Chase (NYSE: JPM) Small Business Cards Will Compete with American Express (NYSE:AXP)
Understanding that small businesses have suffered greatly during the economic crisis and have had little in the way of business credit from banks available to them, JPMorgan Chase (NYSE: JPM) has launched a new small business credit card initiative which will directly compete with American Express (NYSE:AXP), which could be good for small business owners.
The [...]
