American Express 8-K

Summary

Preliminary September U.S. Consumer and U.S. Small Business card credit-performance statistics. The figures cover balances held for investment and exclude balances held for sale; Lending Trust data covers only revolve-eligible balances and is not directly comparable with the broader portfolios.

Key Figures

• U.S. Consumer: total card balances were $114.3B in September, vs $114.2B in August and $113.1B in July; 30+ day delinquency was 1.2%, vs 1.1% in each prior month. Average balances were $114.2B for September and $113.9B for the three months ended September; principal-only net write-off rates were 1.5% for September and 1.6% for the three-month period, vs 1.7% in both August and July.
• U.S. Small Business: total card balances were $46.6B in September, vs $46.1B in August and July; 30+ day delinquency was 1.4%, vs 1.3% in each prior month. Average balances were $46.3B for September and $46.2B for the three months ended September; principal-only net write-off rates were 2.1% for September and 2.3% for the three-month period, vs 2.2% in August and 2.6% in July. Combined Consumer and Small Business balances held for investment were $160.9B in September, vs $160.3B in August and $159.2B in July.
• Lending Trust: ending principal balances were $24.7B in September, $25.0B in August and $24.9B in July. Defaulted amounts were $40M in each month; annualized default rates net of recoveries were 1.0%, 1.0% and 1.1%, respectively; total balances 30+ days delinquent were $0.2B each month.