What are these statistics and why are they being reported?

This filing provides preliminary, unaudited delinquency and write-off rate statistics for American Express's U.S. Consumer and U.S. Small Business card portfolios. These are being furnished to offer investors a more current view of credit performance trends, supplementing the data reported in the company's regular SEC filings like the 10-D reports for securitized assets.

How did credit performance trend in the reported period?

The data indicates a generally stable to improving credit environment. For the U.S. Consumer portfolio, 30-day delinquencies remained at 1.0% by year-end, and net write-off rates decreased from 2.2% in October to 1.6% in December. The U.S. Small Business portfolio also saw improvements, with 30-day delinquencies falling to 0.7% and net write-off rates dropping to 1.5% by December.

What is the difference between the data in this filing and the data in the Lending Trust's 10-D report?

The statistics in this filing cover the entire U.S. Consumer and U.S. Small Business Card Member loan portfolios (both securitized and non-securitized). In contrast, the Lending Trust's 10-D report typically reflects only the securitized portion of the loans, which may have different characteristics and reporting methodologies, potentially leading to variations in reported credit performance metrics.

Are these numbers final and audited?

No, the statistics presented in this filing are noted as preliminary and unaudited. They are intended to provide timely insights into credit performance as the company prepares its more comprehensive financial statements.

AXP 8-K: Regulation FD — Jan 15, 2021

Summary

This 8-K filing from American Express (AXP) provides preliminary, unaudited delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios for the months of October, November, and December 2020, as well as the fourth quarter of 2020. The data offers investors a near real-time look at credit performance trends, complementing the information reported in the company's regular SEC filings. Overall, the statistics indicate a stable to slightly improving credit environment for these portfolios during the reported period, with 30-day delinquencies and net write-off rates showing a general downward trend or holding steady.

Key Highlights

1Preliminary delinquency and write-off rates for U.S. Consumer and U.S. Small Business card portfolios for Oct, Nov, Dec 2020.
2U.S. Consumer Card Member loans totaled $51.3 billion as of December 31, 2020.
3U.S. Consumer 30-day past due loans remained stable at 1.0% as of December 31, 2020, down from 1.1% in October 2020.
4U.S. Consumer net write-off rate decreased to 1.6% for December 2020 (principal only) from 2.2% in October 2020.
5U.S. Small Business Card Member loans totaled $12.8 billion as of December 31, 2020.
6U.S. Small Business 30-day past due loans showed a decreasing trend, from 1.0% in October to 0.7% in December 2020.
7U.S. Small Business net write-off rate improved significantly to 1.5% for December 2020 from 2.1% in October 2020.

AMERICAN EXPRESS CO 8-K Report, Regulation FD Disclosure (Jan 15, 2021)

Summary

Key Highlights

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