American Express Centurion Bank | Company profile from Hoover's

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American Express Centurion Bank · Midvale, UT United States

Company Description

6985 Union Park Center,
Ste. 235
Midvale, UT
84047
United States (Map)
Phone: 801-945-3000
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    When in Rome, do as the Romans do; when using your American Express card, do what American Express Centurion Bank allows you to do. A subsidiary of credit card and travel giant American Express, the company issues and services its parent company's revolving credit cards, including the Blue, Blue Cash, and Blue Sky cards. (Revolving cards carry no annual fees, but levy finance charges on revolving balances.) The bank also issues consumer charge cards, raising funds for all of its lending activities by selling short- and medium-term debt and securitized assets. It offers CDs to retail and institutional customers as well. The company mainly markets its cards via direct mail, the Internet, and television. To read the full description, subscribe now.

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    Key American Express Centurion Bank Financials

    Company TypeSubsidiary

    Single Location
    Fiscal Year-EndDecember
    Employees120

    American Express Centurion Bank Executives

    1 executives listed for American Express Centurion Bank's Midvale, UT location.
    TitleName & BioContact
    CEOKenneth ChenaultEmail
    More American Express Centurion Bank Executives

    Competition

    Competitive Landscape for American Express Centurion Bank
    Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. Although the financial climate has improved, slow demand for loans and increased government regulation may result in a long recovery period for the banking industry To read the full description, subscribe now.
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