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davepamn davepamn
 
M$1 June 10, 2009 12:25 AM

Bank : What was American Express Credit Card Write-Offs in 2008?

I know, in 2007, Outstanding card debt securitized by Capital One, Washington Mutual, Bank of America, Citigroup, Discover, JPMorgan Chase and American Express doubled since 2003 reaching nearly $400 billion.

What was the Credit card writeoffs in 2008 for American Express?
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ssmacd ssmacd
 
 June 10, 2009 12:36 AM
American Express reported $8 billion in write-offs on their 8k for 2008. (7.5% of 32.6 billion category A cards, and 7.3% of $62.4 billion of category B cards).

http://biz.yahoo.com/e/090316/axp8-k.html
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• How much of a deviation was that from American Express normal writeoffs?


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409inyourc... 409inyourc...
 
June 10, 2009 12:45 AM
If I am reading this information correctly they wrote of 7.0077 billion dollars. Please see the form I found at this link: http://biz.yahoo.com/e/090316/axp8-k.html

I hope this information has helped.
Source(s):
http://biz.yahoo.com/e/090316/axp8-k.html


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