American Express CFO Touts Strong Spending, Platinum Refresh Success and Resilient Credit at Conference

On credit, Le Caillec described the balance sheet of American Express customers as “incredibly strong,” with “very low write-off rate” and “very low delinquency rates” that have remained stable.In U.S. consumer, he said the company ended the year in a “very strong position,” citing holiday shopping season spend that was up 9%. He added that Platinum Card members’ holiday shopping spend was up 12%.Le Caillec said global spend was up “between 7% and 8%” during the year and noted a modest uptick in the second ...