Move to the express LAne Axp

WHile many analyts still say hold I say buy unemployment rates are what they are and for AXP the higher the better.


*BAD NEWS

The company is offering a $300 prepaid card, which can be used anywhere American Express is accepted, to certain customers who pay off their entire balance between March 1 and the end of April. Enrolling in the deal automatically cancels the customer's account, regardless of whether he successfully pays off the balance.

AmEx has a charge-off rate of 6.7% during the fourth quarter that it recently reported. This is a measure of the amount of loans that the company has to write-off due to missed payments compared to the total loan portfolio. The company reported during the fourth quarter that transaction by cardholders fell 10.0% year-over-year


HOWEVER even with posting bad news I still show this stock as a good pick time is needed to sort out the rest of the economy AXP can have some as well.