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American Express Launches Online Money Manager Service

Cardmembers can link bank accounts, credit cards, investment accounts, mortgage loans, car loans, student loans and rewards points through Money Manager tool

American Express has launched Money Manager, a free online personal finance service that helps Charge cardmembers to manage their finances and rewards accounts on its online portal. Reportedly, Charge cardmembers can link bank accounts, credit cards, investment accounts, mortgage loans, car loans, student loans and rewards points from more than 11,000 institutions all in one place through Money Manager.

American Express has said that Charge cardmembers can access Money Manager by logging into their card account at its online portal for the financial accounts they want to manage. Once a cardmember has registered, all their account information is linked and automatically updated, so they can access all their accounts without having to log in to multiple individual accounts. Cardmembers also can view charts that automatically categorize their spending, set budgets, receive alerts to stay on track, and get updates on their investments.

According the American Express, the Money Manager provides Charge cardmembers with a range of tools in one location, including: Budget Tracker – set monthly budget goals and receive e-mail alerts on budget limits; Spending Reports – analyze spending trends over time; Financial Calendar – displays due date and amount due for each financial account where payments are owed, including bills/utilities, credit cards, insurance, mortgage and loan payments; Rewards Tracker – monitor balances from frequent flyer, car rental, hotel and other rewards accounts; and Personal Net Worth Calculator – displays account information in a personalized balance sheet format, categorizing it into assets and liabilities and calculating a total net worth.

Robin Korn, senior vice president and general manager, consumer charge group, American Express, said: “Money Manager is a built-in benefit for Charge cardmembers – a card that serves as a great management tool by helping people spend within their means and stay out of debt. With these additional financial management tools, along with the security and service American Express is known for, cardmembers can be reassured that their money works harder for them.”