American Express Co (NYSE:) Discloses Latest U.S. Consumer and Small Business Card Loan Delinquency and Write-Off Statistics

American Express Co (NYSE: AXP) has recently disclosed its latest U.S. consumer and small business card loan delinquency and write-off statistics in a regulatory filing, providing investors with valuable insights into the company’s credit performance. As of June 30, 2024, American Express reported that its total U.S. consumer card member loans amounted to $85.0 billion, with a 1.3% delinquency rate and a 2.3% net write-off rate for principal only. On the other hand, U.S. small business card member loans stood at $28.6 billion, with a delinquency rate of 1.4% and a net write-off rate of 2.4% for principal only.

The filing also compared these statistics with data from the American Express Credit Account Master Trust, showing a total principal balance of $25.8 billion and an annualized default rate of 1.5%. Investors typically review such data to assess the credit risk associated with a lender’s portfolio and gauge the financial health of borrowers.

In addition to the credit performance data, American Express has made significant strides in the financial sector, with Jefferies updating their assessment of the company and raising the stock target to $235. The company is expected to report strong total revenues and non-interest revenues, reflecting a positive outlook for the future.

Furthermore, American Express has expanded its presence in the hospitality sector through strategic acquisitions, including Tock and Rooam, to enhance its dining network and provide targeted services to premium customers. Despite an increase in delinquency rates for its U.S. Consumer and Small Business Card Member loans, the company continues to attract attention from financial firms like Barclays, Wells Fargo, and Citi.

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