American Express Company (the "Company") is hereby furnishing below owned and managed basis delinquency and write-off statistics for the lending portfolio of its U.S. Card Services ("USCS") operating segment for the months ended July 31, August 31 and September 30, 2009, and the three months ended September 30, 2009. As previously stated in its reports filed with the Securities and Exchange Commission (the "Commission"), the Company believes that its managed basis presentation provides the Company's investors with a more comprehensive portrayal of the key dynamics of the Company's U.S. cardmember lending business over time.

                           American Express Company
                              U.S. Card Services
                     Delinquency and Write-off Statistics

As of and for the months ended July 31, August 31 and September 30, 2009 and
the three months ended September 30, 2009

(Billions, except percentages)
                                                                                                                  (Preliminary)
                                                                                                                   Three months
                                                                                                                   ended
                                                              July 31,          August 31,       Sept. 30,         Sept. 30,
                                                                 2009                2009            2009              2009
                                                              ---------         --------         --------          -----------
Cardmember lending - owned basis (A):
         Total Loans                                            $23.1             $24.3           $22.7              $22.7
         30 days past due loans as a % of total                   4.3%              4.1%            4.0%               4.0%
         Average loans                                          $23.3             $23.7           $23.5              $23.4
         Net write-off rate                                       9.9%             10.2%            9.2%               9.8%

Cardmember lending - managed basis (B):
         Total Loans                                            $52.9             $53.0           $51.9               $51.9
         30 days past due loans as a % of total                   4.2%              4.1%            4.1%                4.1%
         Average loans                                          $53.4             $52.9           $52.9               $52.9
         Net write-off rate                                       9.2%              9.0%            8.4%                8.9%

(A) "Owned," a GAAP basis measurement, reflects only cardmember loans included in the Company's consolidated balance sheets. For the month ended August 31, 2009, the increase in the owned basis net write-off rate was driven by the mechanics of the calculation relating to the transfer to the American Express Credit Account Master Trust (the "Lending Trust") on August 20, 2009, of approximately $3 billion of loans generated from cardmember accounts newly designated for addition to the Lending Trust, as well as maturities taking place during the month of certificates previously issued by the Lending Trust.

(B) The managed basis presentation assumes that there have been no off-balance sheet securitization transactions, i.e., all securitized cardmember loans and related income effects are reflected as if they were in the Company's balance sheets and income statements, respectively. The difference between the "owned basis" (GAAP) information and "managed basis" information is attributable to the effects of securitization activities. The Company presents U.S. Card Services information on a managed basis because that is the way the Company's management views and manages the business. Management believes that a full picture of trends in the Company's cardmember lending business can only be derived by evaluating the performance of both securitized and non-securitized cardmember loans and that use of a managed basis presentation presents a more comprehensive portrayal of the key dynamics of the cardmember lending business over time.

Set forth below is certain information regarding the credit performance of the Lending Trust for its three most recent monthly reporting periods, as reported in its Form 10-D report filed with respect to each such period.

                 American Express Credit Account Master Trust

(Billions, except percentages)

                                    June 26, 2009             July 27, 2009             Aug. 26, 2009
                                    through                   through                   through
                                    July 26, 2009             Aug. 25, 2009             Sept. 24, 2009
                                    -------------             -------------             --------------
Ending total principal balance       $33.2                       $35.9                      $35.0
Defaulted amount,
   net of recoveries                $  0.3                      $  0.3                     $  0.2
Annualized default rate,
   net of recoveries                   8.9%                        8.5%                       8.1%
Total 30+ days delinquent           $  1.5                      $  1.5                     $  1.5

This report includes forward-looking statements, which are subject to risks and uncertainties. Forward-looking statements contain words such as "believe," "expect," "anticipate," "optimistic," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely" and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the Company's ability to manage credit risk related to consumer and small business loans and other credit trends, which will depend in part on the economic environment, including, among other things, the housing market, the rates of bankruptcies and unemployment, which can affect spending on card products and debt payments by individuals and small business customers, and on the effectiveness of the Company's credit models; the impact of the Company's efforts to deal with delinquent cardmembers in the current challenging economic environment, which may affect payment patterns of cardmembers, the actual level of cardmember delinquencies in the future and the perception of the Company's services, products and brands; the Company's near-term write-off rates, including those for the fourth quarter of 2009, which will depend in part on changes in the level of the Company's loan balances, delinquency rates of cardmembers and bankruptcy filings and unemployment rates; and the actual amount to be spent by the Company on marketing, promotion, rewards and cardmember services based on management's assessment of competitive opportunities and other factors affecting its judgment, and during the remainder of 2009, the extent of provision benefit, if any, from lower than expected write offs. A further description of these and other risks and uncertainties can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, its Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2009, and its other reports filed with the SEC.