NEW YORK — American Express saw its fourth-quarter profits fall by 9%, as the credit card giant had to set aside significantly more money to cover potentially bad loans. While AmEx saw a double digit rise in card usage from a year ago — cardmembers spent $413.3 billion on their cards last quarter — the increase in revenue was eclipsed …
NEW YORK — Americans have grown fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Given those features, consumer advocates and financial advisors initially had seen buy now, pay later plans as a potentially healthier form of consumer debt if used correctly. “If these buy now, pay later plans are …
