American Express 8-K

Summary

June 2026 U.S. consumer and small-business card credit performance update. Delinquency rates were little changed from May, while reported net write-off rates fell; a June sale of previously written-off balances reduced those rates.

Key Figures

• U.S. Consumer: June card balances held for investment were $113.8B; 30+ day delinquency was 1.1% vs 1.1% in May. Principal-only net write-off rate was 1.4% vs 2.0% in May, and 1.8% for Q2 2026.
• U.S. Small Business: June card balances held for investment were $45.9B; 30+ day delinquency was 1.4% vs 1.4% in May. Principal-only net write-off rate was 2.3% vs 2.6% in May, and 2.4% for Q2 2026.
• Combined consumer and small-business balances held for investment were $159.7B in June vs $160.5B in May. In Q2, average balances were $112.4B for consumer and $45.9B for small business.
• The June sale reduced principal-only net write-off rates by ≈0.3 percentage points for consumer and 0.1 percentage points for small business. The rates exclude interest and fees.
• American Express Credit Account Master Trust: June ending principal balance was $25.2B; defaulted amount was $0.04B, annualized default rate net of recoveries was 0.7% vs 1.2% in May, and 30+ day delinquencies totaled $0.2B. The June default rate reflects sale proceeds allocable to the Trust. Trust balances cover revolve-eligible balances and are not directly comparable with the broader card portfolios.