American Express Credit

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. As of December 31, 2019, Credco employed 4 people, whom Credco refers to as colleagues. Credco is engaged in the business of financing certain non-interest-earning Card Member receivables arising from the use of the American Express charge 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.

Company profile


6 May 21
31 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 692M 692M 692M 692M 692M 692M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) 54.67M (positive/no burn)
Cash used (since last report) n/a n/a n/a n/a 219.57M n/a
Cash remaining n/a n/a n/a n/a 472.43M n/a
Runway (months of cash) n/a n/a n/a n/a 8.6 n/a

Beta Read what these cash burn values mean

Financial report summary

  • The impact of the COVID-19 pandemic and the measures implemented to contain the spread of the virus have had, and are expected to continue to have, a material adverse impact on American Express’ and Credco’s business and results of operations.
  • Adverse financial market conditions may significantly affect Credco’s ability to meet liquidity needs, access to capital and cost of capital.
  • The discontinuance of LIBOR may negatively impact Credco’s access to funding and the value of its financial instruments.
  • Adverse currency fluctuations and foreign exchange controls could decrease the revenue Credco receives from its international operations.
  • The risk management policies and procedures of American Express, Credco and the card issuers may not be effective.
  • Credco is an indirect wholly owned subsidiary of American Express. As such, it is affected by the strategic decisions and operating performance of American Express.
  • Credco is an indirect wholly owned subsidiary of American Express and any arrangements or agreements between the two entities are intended to be on arm’s-length basis, however, it may be difficult to find external comparable transactions negotiated by independent, unrelated parties with exactly the same terms.
  • Credco and its subsidiaries are dependent on the card issuers that generate receivables.
  • American Express’ business is subject to comprehensive government regulation and supervision, which could materially adversely affect Credco’s results of operations and financial condition.
  • Tax legislative initiatives or challenges to American Express’ tax positions could adversely affect Credco’s results of operations and financial condition.
Content analysis
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