American Express Credit Corporation
Business Description
American Express Credit Corporation (Credco) was incorporated in Delaware in 1962
and was acquired by American Express Company (American Express) in December 1965.
On January 1, 1983, Credco became a wholly owned subsidiary of American Express
Travel Related Services Company, Inc. (TRS), a wholly owned subsidiary of American
Express. Both American Express and TRS are bank holding companies.
Credco is engaged in the business of financing non-interest-earning Card Member
receivables arising from the use of the American Express® Green Card, the
American Express® Gold Card, Platinum Card®, Corporate Card and other
American Express cards issued in the United States and in certain countries outside
the United States. Credco also finances certain interest-earning revolving loans
generated by Card Member spending on American Express credit cards issued in non-U.S.
markets, although interest-earning and revolving loans are primarily funded by
subsidiaries of TRS other than Credco. American Express charge cards and American
Express credit cards are collectively referred to herein as the card.
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