Rising credit card use buoys Amex
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American Express has seen its quarterly profits climb, thanks to rising credit card use especially by international cardholders.
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America is getting more Foolish -- by paying off credit cards.
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Credit card companies are changing the terms of their accounts at a historically high rate, costing Americans millions of dollars in fees that they did not expect.
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American Express said yesterday that record spending had fueled a 12 percent jump in profit.
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American Express Co. AXP.N said on  Monday quarterly earnings rose 14 percent, matching analysts'  expectations, on record cardholder spending, increased card  borrowing and lower loan losses.
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If you have a credit card with a variable interest rate, you may have noticed your rates have been going up.
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American Express AXP.N on Monday  said quarterly earnings rose 14 percent, matching analysts'  expectations, as cardholder spending and borrowing increased  while loan losses fell.
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One of the biggest selling points for debit cards has been that you couldn't spend more than you had in your bank account, making them a good alternative to racking up credit card debt.
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What a surprise -- credit card issuers aren't exactly playing nice.
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Consumers kept charging at a rapid pace on their credit cards in July although their overall borrowing slowed a bit.
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American Express Co , a credit card and travel services company, said on Monday that third-quarter earnings rose 10 percent, helped by increased spending among its consumer and corporate clients.
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Keep an eye on your credit card issuers -- they may be about to raise your rates.
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tocks rose yesterday amid heavy trading on the first day of the fourth quarter as PeopleSoft and chip-related stocks sent the Nasdaq to its highest level in more than two months.
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As subprime borrowers began to default on their mortgages in rapidly growing numbers this year, credit card issuers increased their efforts to sign up such customers with tarnished financial histories, according to a market research firm.
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Investor's Business Daily - Despite rising interest rates, the Mortgage Bankers Association&#39;s seasonally adjusted index of application activity edged up 6.6% to 666.5 in the week ending June 8. Its index of purchase activity rose 7.2%, while refinancing activity climbed 5.6%. Analysts called it a scramble to head off rising borrowing costs. Mortgage rates are at their highest since mid-&#39;06.
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American Express Co.  said on Monday fourth-quarter profits rose 17 percent, driven by increased use of its credit cards and strong travel-related sales.
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The nationâs third-largest credit card company said net income rose to $1.06 billion in the second quarter, fueled by record spending.