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Last Updated: Monday, 22 October 2007, 22:08 GMT 23:08 UK
More credit card use boosts Amex
American Express card
American Express is seeing more defaults on loans
American Express has seen its quarterly profits climb after higher spending on its credit cards.

Consumers, small firms and corporate cardholders all increased their use of the Amex, the firm said.

Profits rose to $1.1bn (526m) in the three months to September, from $934m in the same period last year.

The firm saw missed payments grow but did not know if this was due to tougher credit conditions or a return to more normal levels of delinquencies.

Analysts have suggested that because American Express consumers are typically wealthier than other card holders, the firm may not be as badly hit by weakness in the consumer credit market as rivals.



SEE ALSO
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Amex to sell Brazilian card unit
20 Mar 06 |  Business
Amex buoyed by card spending rise
27 Apr 05 |  Business

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