Squeri also said the company's credit performance "remains exceptional, with delinquencies and write-offs near historical lows."

That said, AmEx also built a small credit reserve in the quarter. Squeri said during a conference call with analysts that the company is keeping a close eye on labor-market data, saying that there is a correlation between "people losing their jobs and not being able to pay their bills."

"So that's potentially an issue down the road," he said.

*

Yet AmEx is arguably in a much better position than other companies as its customers tend to be more affluent. When one analyst asked Squeri during the conference call why AmEx card members may act differently than the average consumer, Squeri was blunt in his response.

"I think the simple answer is they have more money."

Squeri also said the company's credit performance "remains exceptional, with delinquencies and write-offs near historical lows."

That said, AmEx also built a small credit reserve in the quarter. Squeri said during a conference call with analysts that the company is keeping a close eye on labor-market data, saying that there is a correlation between "people losing their jobs and not being able to pay their bills."

"So that's potentially an issue down the road," he said.

*

Yet AmEx is arguably in a much better position than other companies as its customers tend to be more affluent. When one analyst asked Squeri during the conference call why AmEx card members may act differently than the average consumer, Squeri was blunt in his response.

"I think the simple answer is they have more money."