Businessweek

American Express Company, a global service company, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. The company’s various products and services are sold to various customer groups, including consumers, small businesses, mid-sized companies, and corporations. These products and services are sold through various channels, including direct mail, online applications, in-house and third-party sales forces, and direct response advertising. Segments The company’s segments include U.S. Card Services; International Card Services; Global Commercial Services; Global Network & Merchant Services; and Corporate & Other. U.S. CARD SERVICES This segment’s U.S. banking subsidiaries, American Express Centurion Bank (Centurion Bank) and American Express Bank, FSB (AEBFSB), issue a range of Card products and services to consumers and small businesses in the United States. The company’s consumer travel business, which provides travel services to Cardmembers and other consumers, complements its core Card business, as does its Global Payment Options (GPO) business. The proprietary Card business offers a set of Card products to attract its target customer base. Consumer and Small Business Services The company offers individual consumer charge Cards, such as the American Express Card, the American Express Gold Card, the Platinum Card, and the Centurion Card, as well as small business charge Cards. It also offers revolving credit Cards, such as Blue from American Express, the Blue Cash Everyday Card from American Express, Blue Sky from American Express, and for small businesses, Blue for Business Credit Card and SimplyCash Business Card. In addition, the company offers various Cards sponsored by and co-branded with other corporations and institutions for consumers and small businesses, such as the Delta SkyMiles Credit Card from American Express, TrueEarnings Card for Costco members, Starwood Preferred Guest Credit Card, JetBlue Card from American Express, and Lowe’s Business Rewards Card. It also offers deposit products directly to consumers through American Express Personal Savings. Centurion Bank and AEBFSB as Issuers of Certain Cards and Deposit Products The company’s U.S. banking subsidiaries are both the Federal Deposit Insurance Corporation (FDIC)-insured depository institutions and wholly owned subsidiaries of American Express Travel Related Services Company, Inc. (TRS). Centurion Bank and AEBFSB are regulated, supervised, and examined by their respective banking regulators. In addition, Centurion Bank, AEBFSB and their affiliates, including the company and TRS, are subject to supervision, examination and enforcement by the Consumer Financial Protection Bureau with respect to its marketing and sale of consumer financial products and its compliance with certain federal consumer financial laws, including the CFPA and the Truth in Lending Act (TILA). Charge Cards The company’s charge Cards, which carry no preset spending limits, are primarily designed as a method of payment and not as a means of financing purchases of goods or services. Charges are approved based on various factors, including a Cardmember’s current spending patterns, payment history, credit record, and financial resources. Cardmembers generally must pay the full amount billed each month. The charge Cards also offer various ways for eligible U.S. Cardmembers to pay off certain of their purchases over time. The Sign & Travel feature permits eligible U.S. Cardmembers to extend payment for airline tickets, cruise ship tickets, and other travel items purchased with its charge Cards. The Extended Payment Option provides eligible U.S. Cardmembers the ability to extend payment for eligible Charges above a certain dollar amount. Revolving Credit Cards The company offers various revolving credit Cards. These Cards have a range of different payment terms, interest rate and fee structures, rewards programs, and Cardmember benefits. Revolving credit Card products, such as Blue from American Express, the Blue Cash Everyday Card from American Express, Blue Sky from American Express,