AmEx Ranks Highest in Credit Card Satisfaction: J.D. Power

American Express ranked highest in customer satisfaction for the fourth straight year, as overall satisfaction with credit cards edged upward, according to J.D. Power and Associates.

American Express Triples Profit on Higher Card Spending

Bolstered by higher card-member spending and fewer bad loans, American Express beat expectations with a second-quarter 2010 profit of $1 billion, about three times more than the $337 million in earnings a year ago.

American Express: Consumers Resist Raising Their Debt

Three-quarters of consumers surveyed by American Express say their debt has not increased over the past six months, and more than a third say their debt has decreased. More Americans say they have been focused on paying down debt (46 percent) than saving (29 percent) this year, American Express found.

American Express: Finances Top Stress Factor for Couples

An American Express survey found that nearly one in three couples believe finances cause more stress in their relationship then intimacy, their children and their in-laws. Communicating about finances is not a priority, which may contribute to the stress, the survey found. Overall, 91 percent of Americans surveyed find reasons to avoid talks about money with the partners.

American Express: Costly Travel Plans Defy Soft Economy

Despite the economic downturn, consumers will spend an average of $1,000 per person on travel plans this summer, according to the latest American Express survey. Just more than half (51 percent) of Americans – and even more “affluents” (73 percent) and young professionals (83 percent) – are planning summer vacations this year, according to the card company’s Spending & Saving Tracker survey of 2,000 adults.

American Express ZYNCs Up with Savvy Young Adults

Offered in beta since December, American Express has officially launched its ZYNC card aimed at a new generation of financially savvy consumers in their 20s and 30s. ZYNC is a pay-in-full charge card with optional rewards and benefits called “Packs” that offer features American Express has found would draw the interest of young people.

American Express: Lessons Learned from Volcanic Ash Crisis

American Express said more than 150,000 of its travel customers were delayed or otherwise affected by the volcanic ash cloud that grounded European travel for days. The ordeal demonstrated the need for “continuous information exchange” that goes well beyond the use of existing smartphone apps.

American Express: Profit Doubles on 16% Jump in Spending

Higher consumer spending and improved credit quality propelled first quarter earnings for American Express, which more than doubled its profit to $885 million, or 73 cents a share, up from $437 million, or 31 cents a share, a year ago. Beating Wall Street forecasts of 64 cents a share, the top credit card brand – based on purchase volume – reduced provisions for losses by $943 million, down 48 percent compared to $1.8 billion a year ago.

American Express Survey: $6,200 Set for Home Projects

Most homeowners are planning on spending an average of $6,200 on home improvement projects this year and most believe a seller’s market is at least two years away, according to the latest Spending & Saving Tracker survey by American Express. Consumer sentiment on the housing market was mostly on the positive side in the survey of 2,003 U.S. adults.

American Express, Macy’s New Partners in Co-Branded Cards

American Express and Macy’s have a new partnership which will give the retailer co-branded cards exclusively with AmEx, but issued by Citi, the issuer of Macy’s and Bloomingdale’s credit cards. Under a series of agreements, existing Macy’s and Bloomingdale’s Visa cards will be replaced by those co-branded with American Express. The new cards will be sent to customers by the end of 2010, and they will be notified of this change in advance.

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