Summary
This 8-K filing from American Express (AXP) provides updated credit performance statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios as of and for the months ending October 31, September 30, and August 31, 2021. The report details loan balances, delinquency rates (30 days past due), and net write-off rates for both segments. Investors can use this data to monitor the company's credit risk and the health of its loan portfolios, which is crucial given the current economic environment. The filing also includes specific credit performance data for the American Express Credit Account Master Trust, which holds securitized loans. While the reported statistics for the total portfolios are intended to supplement the trust's filings, it's important to note that the characteristics and reporting methodologies for the total portfolios and the securitized trust may differ. Overall, the presented data indicates stable credit performance across both consumer and small business segments during the observed periods, with consistently low delinquency and write-off rates.
Key Highlights
- 1Provides monthly credit performance data (delinquency and write-off rates) for U.S. Consumer and U.S. Small Business Card Member loan portfolios for August, September, and October 2021.
- 2U.S. Consumer Card Member loans totaled $54.8 billion as of October 31, 2021, with a 30-day delinquency rate of 0.7% and a net write-off rate of 0.6% for October.
- 3U.S. Small Business Card Member loans totaled $15.6 billion as of October 31, 2021, with a 30-day delinquency rate of 0.5% and a net write-off rate of 0.5% for October.
- 4Total combined U.S. Card Member loans across consumer and small business segments reached $70.4 billion by October 31, 2021.
- 5The filing includes separate credit performance statistics for the American Express Credit Account Master Trust, which holds securitized loans.
- 6Annualized default rate for the securitized trust, net of recoveries, remained low, at 0.5% for October 2021.
- 7The data suggests stable credit quality and contained credit losses in both the consumer and small business lending segments during the reported months.