American Express CEO Earns $22 Million in Incentives

American Express CEO Kenneth Chenault is now ranked as one of the highest paid chief executive officers in the country. His total compensation for 2013 was $24.4 million, with only $2 million of that coming from his actual salary. Chenault's … Continue reading

American Express Surpasses Profit Expectations

American Express posted strong second quarter numbers, easily surpassing Wall Street expectations. Second quarter profits rose 5% over last year, growing from $1.34 billion or $1.15 per share to $1.41 billion or $1.27 per share. Consumer spending on these cards … Continue reading

LowCards.com Weekly Credit Card Update–March 15, 2013

Prepaid Cards May Lack Protections of Checking Accounts Reloadable prepaid cards don't have to carry federal deposit insurance, as checking accounts do, says a new report from a project of the Pew Charitable Trusts. Cardholders can use them for direct … Continue reading

Shareholder Sues AmEx Board on Credit Card Practices

A shareholder of American Express is suing the company's Board of Directors and Chairman Kenneth Chenault, claiming they did not properly oversee the practices that led to a recent $112.5 million settlement with consumers and four federal agencies. Bob Lankford, … Continue reading

American Express Posts 8 Percent Growth in U.S. Cards

American Express cardholders in the United States spent 8 percent more on their credit cards in the third quarter versus a year ago, according to the company's quarterly reports. Globally, American Express showed a 6 percent increase in card purchases in the third … Continue reading