Summary
This 8-K filing by American Express Company (AXP) provides updated delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios as of January 31, 2022, and for the months ended January 31, December 31, and November 30, 2021. Investors should note that these figures pertain to specific operating segments and are supplementary to data reported by the American Express Credit Account Master Trust (Lending Trust). The disclosed metrics indicate stable credit performance across both consumer and small business portfolios. The 30-day past due rates remained consistent at 0.7% for U.S. Consumer and 0.5% for U.S. Small Business over the reported periods. Net write-off rates also showed relative stability, with the U.S. Consumer portfolio at 0.7% for January 2022 and December 2021, and 0.5% for November 2021. The U.S. Small Business portfolio exhibited a net write-off rate of 0.5% or 0.6% across the periods. These figures suggest a healthy credit environment for AmEx's core lending businesses as of early 2022.
Key Highlights
- 1Delinquency and write-off statistics for U.S. Consumer and U.S. Small Business Card Member lending portfolios are provided for three recent months ending January 31, 2022.
- 2U.S. Consumer Card Member 30-day past due rate remained stable at 0.7% for November 2021, December 2021, and January 2022.
- 3U.S. Small Business Card Member 30-day past due rate remained stable at 0.5% for all three reported months.
- 4Net write-off rate for U.S. Consumer Card Member loans was 0.5% in November 2021, increasing to 0.7% in December 2021 and holding at 0.7% in January 2022.
- 5Net write-off rate for U.S. Small Business Card Member loans was 0.5% in November 2021, rose to 0.6% in December 2021, and was 0.5% in January 2022.
- 6Total Card Member loans (U.S. Consumer and Small Business combined) decreased slightly from $76.9 billion in December 2021 to $73.2 billion in January 2022.
- 7Information provided is supplementary to the data reported in the American Express Credit Account Master Trust's Form 10-D filings and may differ due to variations in loan characteristics and calculation methodologies.