American Express credit delinquencies rise in February

In a regulatory filing, the largest U.S. charge card operator by sales volume said its net charge-off rate -- a measure of credit default -- rose to 8.70 percent in February from 8.30 percent in January, while the rate for loans at least 30 days delinquent increased to 5.30 percent from 5.10 percent.

American Express shares were down 4 cents to $13.05 in afternoon trading on the New York Stock Exchange after the report. They had risen as much as 8 percent earlier in the session in a rally of financial services companies. The stock has lost one-third of its value in 2009.

(Reporting by Juan Lagorio, editing by Gerald E. McCormick)