October 2008
CardLine;10/24/2008, Vol. 8 Issue 43, p10
Trade Publication
The article reports that American Express Co. (AmEx) the credit cards charge-off rate has risen by 5.7% or 250 basis points in the third quarter of the 2008 financial year ended September 30. It is stated that AmEx wrote off $1.1 billion in the net managed principal of cardholder debts. It mentions that the average receivables on cards issued outside the U.S. were $11.5 billion during the quarter.


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