8-KRegulation FD

AMERICAN EXPRESS CO 8-K Report, Regulation FD Disclosure (Jan 15, 2026)

Filed January 15, 2026For Securities:AXP

Summary

American Express Company (AXP) has filed an 8-K report on January 15, 2026, providing a preliminary update on its U.S. Consumer and U.S. Small Business Card Member loan portfolios for the months ending October 31, November 30, and December 31, 2025, as well as the full three-month period ending December 31, 2025. This filing focuses on delinquency and write-off statistics for loans held for investment, offering investors insights into the company's credit quality trends. The reported data indicates a relatively stable credit performance for both U.S. Consumer and U.S. Small Business segments. Delinquency rates remained consistent, with U.S. Consumer loans at 1.3% and U.S. Small Business loans at 1.7% for the latest period. Net write-off rates also showed minimal fluctuation, suggesting that the company's risk management strategies are effectively mitigating significant credit deterioration, even as loan balances have grown. Investors should note that these figures exclude loans classified as held for sale and that the data from the American Express Credit Account Master Trust, while related, may differ due to securitization characteristics.

Key Highlights

  • 1Preliminary credit performance data for U.S. Consumer and U.S. Small Business loan portfolios for the last three months of 2025.
  • 2U.S. Consumer 30-day delinquency rate remained stable at 1.3% for the period ending December 31, 2025.
  • 3U.S. Small Business 30-day delinquency rate was 1.7% for the period ending December 31, 2025, showing slight variation but remaining within historical norms.
  • 4Net write-off rates for U.S. Consumer loans were 2.1% for the three months ended December 31, 2025.
  • 5Net write-off rates for U.S. Small Business loans were 2.7% for the three months ended December 31, 2025.
  • 6Total U.S. Consumer and Small Business Card Member loans held for investment grew to $131.0 billion as of December 31, 2025.
  • 7Data from the American Express Credit Account Master Trust shows consistent annualized default rates, net of recoveries, at 1.2% or 1.3% for the reported monthly periods.

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