The third-quarter earnings reported by the credit card units of Dean Witter, Discover & Co. and American Express Co. show that Dean Witter is still absorbing the marketing costs of launching new card products this year, while American Express is reaping the benefits of a similar investment.

American Express Travel Related Services Co. reported record third- quarter net income of $297 million, a 13% increase over the year-earlier period.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.