Americans are increasingly tapping their credit lines as Covid-19 health restrictions ease and travel demand ramps back up, American Express CEO Steve Squeri told CNBC on Monday.

The payments company, known for its namesake credit card, reports seeing a near-full recovery in domestic travel bookings after the industry was hamstrung by Covid lockdowns.

"When we look at our travel numbers, our travel bookings in May were 95% of what they were in May of 2019," Squeri said in an interview with Jim Cramer on "Mad Money."