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Stock impact report

Credit Card Companies The 'Upper-Class' Trust The Most Might Surprise You [Yahoo! Finance]

American Express Company (AXP) 
Last american express company earnings: 4/24 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.americanexpress.com
Company Research Source: Yahoo! Finance
The assumption is that people with high net worths have enough money to pay for things upfront and naturally don't need credit cards. However, a recent study by The Motley Fool showed the opposite: Upper-class Americans have more credit cards than the average person, use plastic for day-to-day spending, and even share the costly habit of carrying over balances month to month. Furthermore, when comparing Americans with net worths over $1 million versus average-income earners, the study found a significant difference in trust of credit card issuers. The rankings were mostly the same, with the same companies coming up as most trusted and least trusted under both lists. But the percentage of people who said they trusted the major card issuers across both lists told a different story. Up to 80% of wealthy Americans said they trusted American Express the most, followed closely by Capital One at 78% and Citibank at 77%. But the trust in each issuer was several points lower among upper-clas Show less Read more
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