American Express profits rose sharply in the third quarter as it transitioned the vast majority of its members to a new, higher-fee Platinum Card while its well-to-do customers continued to spend aggressively.

American Express reports a sharp rise in third-quarter profits, driven by a successful transition to its higher-fee Platinum Card. The company announces a

American Express reports a sharp rise in third-quarter profits, driven by a successful transition to its higher-fee Platinum Card

American Express raised its full-year earnings forecast to between $18.30 and $18.60 a share as customer spending continues to rise.