American Express 2010 Annual Report Download - page 14

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LOANS 30-DAYS PAST DUE
AS A PERCENT OF TOTAL
4Q
10
2.1%
3Q
10
2Q
10
1Q
10
Q


3.3%
2.8%
2.5%
WORLDWIDE CARDMEMBER LENDING
NET WRITE-OFF RATE
4Q
10
4.3%
3Q
10
2Q
10
1Q
10
4Q
09
7.4%
7.0%
6.0%
5.1%
and processed on the American Express network
made up the fastest-growing segment of our
card portfolio in 2010, with 28 percent higher
spending volume. These partnerships are now
approaching $100 billion in annual volume.
Small business advocacy: American Express
has long been an ally and advocate for small
businesses, but we took it to a new level this past
holiday season. We started a national movement
to support the small, independently owned
shops and restaurants that create jobs, boost the
economy and preserve neighborhoods across
the United States. The first ever Small Business
Saturday, in between Black Friday and Cyber
Monday, was a resounding success. It attracted
more than one million Facebook fans, gained
support from public officials and community
advocates, and sparked higher sales for small
businesses. We are proud of this eort and plan
to make it even bigger in the years to come.
Service enhancements: Service is really the
lifeblood of our company. We do it well, but we
aim to do it even better. In 2010, we expanded
a major program called Relationship Care to
improve the tools, training and hiring methods
that drive excellent service. Customers tell us it’s
working—our internally measured Recommend
to a Friend scores and other satisfaction
measures improved significantly. We received
our fourth consecutive J.D. Power and Associates
award for highest customer satisfaction among
major U.S. credit card companies. And we won
several other prestigious awards for service
excellence in countries around the world.
Enterprise Growth: Finally, another important
launch in 2010 wasn’t a new product or service,
but a new organization within the company.
We formed the Enterprise Growth Group to
accelerate our development of alternative
payments, mobile capabilities and partnerships,
Past-due and write-o rates improved throughout the year due to a mending economy and enhanced risk management.
American Express led all major card issuers in these key measures of credit quality.
12
AMERICAN E XPRESS C OMPANY