By DPA,
New York : American Express reported a profit boost of 70 percent in its third quarter over the same period last year, saying well-heeled card holders were spending more and paying their bills more often on time.
Net income was $1.09 billion, up from $642 million. Revenues were up 17 percent as tight controls on corporate and private spending have relaxed.
American Express said Thursday card holders were only $373 million in payment arrears, one-third of the outstanding bills from a year ago.