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Card provider will charge customers 20 a year for accounts left untouched for 12 months American Express is to slap a 20 annual “dormancy” fee on customers who don’t use their Platinum cashback credit cards for a year. The fee will be introduced immediately for new customers and from 1October for existing cardholders to cover the administrative costs of running accounts left idle. Amex is …

US credit card losses stabilising (Financial Times)

Losses on US credit cards edged lower in July as fewer borrowers fell behind on payments or defaulted, breaking five consecutive months of record high losses in the sector, according to Fitch Ratings.

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