Total loans rose 7%, but the provision for loan losses jumped 27% to $1.7 billion.

Strong loan growth was partially offset by rising delinquencies in its flagship credit card business, as well as in student and personal loans.

Credit card issuers usually reserve their richest rewards for customers at the higher end who are willing to pay steep annual fees. But a recent surge in credit card rewards deals targeting mainstream consumers signals a key strategy shift for issuers.

The Stamford, Conn., credit card issuer reported net income of $576 million, up 5.3% from the same period a year earlier.

American Express spend a record amount of marketing and promotions in 2016, following Costco's departure.

American Express Co., the largest U.S. credit-card issuer by purchases, said fourth-quarter profit fell 8.2 percent as expenses exceeded analysts’ estimates and the firm set aside more money to cover bad loans.

BBVA Compass has renewed its long-term payment services agreement with TSYS for processing consumer, commercial and small-business credit cards.

Michael Corbat told analysts Tuesday that Citi will no longer report Citi Holdings, its erstwhile "bad bank," as a separate entity.

Amazon is revamping its cobranded rewards card, adding a higher tier of rewards for people who pay a $99 annual fee — as 65 million people already do — for Amazon Prime membership.

SoftBank's big bet on next-generation tech; Supreme Court hears surcharge arguments