Amex Reports 4th Quarter Results
Wednesday, January 28th, 2009Welcome back!
American Express Confirms Trend In Spending
American Express reported their Q4 Earnings last Monday, confirming downward trend in consumer spending and decrease in credit card spending, repoted last week in the blog. Amex reported that their overall cardholder spending declined 10%, year over year. The 4th Quater was the worst with a 15% decline in average cardholder spending, in the last quarter of their fiscal year.
STABLE MERCHANT ACCOUNT RATES:
Company reports that merchant account rates for American Express remain stable, with the average merchant paying 2.53% in discount rates. Company did not mention any plans to increase the discount rates paid by business owners, who accept American Express.
American Express stock ( AXP ), was up sharply the past 2 days, approx 14% since the news.
MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683
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