MINNEAPOLIS -- American Express Co. chairman and chief executive Harvey Golub said the company is moving ahead with plans to offer revolving credit cards to people who do not have American Express cards.

"We may also offer various credit or charge cards that are cobranded with selected business partners to provide rewards programs with greater values to card members," Mr. Golub told the annual shareholders meeting.

He also said the company does not plan to further reduce the rates it charges merchants. Relationships with merchants have been improved by operational changes that get them their money sooner.

"This has allowed us to cut in half the likelihood that merchants will try to discourage a card member from using the American Express card," Mr. Golub said.

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