American Express will notify its card members in the coming weeks that it will initiate a broad-based interest rate hike.

Big-name credit card issuers, including Bank of America, Chase and American Express, are shrinking -- not raising -- some credit limits. And some, including Chase, are closing some accounts.American Express will notify its card members in the coming weeks that it will initiate a broad-based interest rate hike -- not a cut.
Rates on American Express cards are expected to go up by 2 percentage points to 3 percentage points.