American Express, which has suffered
from surprising rises in delinquent credit among its affluent card
base over the past 12 months, has rolled out one of its biggest ad
campaigns to date under the new theme, Don’t Take Chances, Take
Charge.

The aim of the initiative is to
espouse the benefits of charge cards over credit and debit cards as
a better financial planning tool.

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The launch of the campaign coincides with the
news that, for the third year in a row, American Express has been
ranked highest in customer satisfaction among credit card companies
by the JD Power and Associates 2009 Credit Card Satisfaction
Study.

Amex states that because cardmembers are
required to pay off their balance in full each month, “charge cards
can help consumers live within their means and stay out of debt.
Charge cards also offer a level of certainty and peace-of-mind that
doesn’t come with cash, checks, debit or other types of
payment”.

The campaign launched with print
advertisements in national newspapers, including The Wall
Street Journal, The New York Times, and USA Today.
Television advertising includes spots on CBS, FOX, NBC, and the
Discovery Channel.

The digital element of the campaign will
include an as-yet-undisclosed interactive social media component.
As part of the initiative Amex has
created a proprietary website, www.takecharge.com.

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Amex’s second-quarter net income dropped 48
percent year-on-year to $337 million. In the US, provisions for
losses totalled $1.2 billion, a fall of 22 percent.

The managed net charge-off rate reached 10
percent in the second quarter, compared to 8.5 percent in the
previous quarter and 5.3 percent in the second quarter of
2008.