01—Abstract
Summary
Summary of the 8-K filed July 15, 2026. Cited figures are marked; the original filing is the authoritative source.
This 8-K filing from American Express Company provides an update on credit performance metrics for its U.S. Consumer and U.S. Small Business card portfolios, as well as for the American Express Credit Account Master Trust.
The report offers preliminary delinquency and write-off statistics for the months ending April 30, May 31, and June 30, 2026, and for the second quarter of 2026. Investors should note that the data presented here is supplementary to the information reported in the Lending Trust's monthly Form 10-D filings and focuses on card balances held for investment. The key takeaway is the relatively stable and low delinquency and write-off rates across both consumer and small business segments, despite a slight variation.
Notably, a sale of previously written-off card balances in June 2026 had a positive impact, reducing reported net write-off rates. The filing also includes data for the securitized portion of its business through the Lending Trust, showing a decline in the annualized default rate in June 2026, also influenced by the sale of written-off balances.
02—Key points
Key Highlights
- U.S. Consumer 30-day past due rate remained stable at 1.1% for June 2026.
- U.S. Small Business 30-day past due rate was 1.4% for June 2026.
- Net write-off rate for U.S. Consumer (principal only) was 1.4% for June 2026, down from prior months.
- Net write-off rate for U.S. Small Business (principal only) was 2.3% for June 2026.
- A sale of previously written-off card balances in June 2026 reduced reported net write-off rates by approximately 0.3% for U.S. Consumer and 0.1% for U.S. Small Business.
- The American Express Credit Account Master Trust reported an annualized default rate, net of recoveries, of 0.7% for June 2026, a decrease from previous months.
- Total card balances held for investment across U.S. Consumer and U.S. Small Business stood at $159.7 billion as of June 30, 2026.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
This 8-K filing is primarily for Regulation FD disclosure. It provides supplementary, preliminary credit performance statistics for American Express's U.S. Consumer and U.S. Small Business card portfolios, including delinquency and write-off rates, for recent months and the second quarter of 2026. It also includes credit performance data for the American Express Credit Account Master Trust.
How did the sale of written-off balances in June 2026 affect the reported numbers?
The sale of previously written-off card balances to a third party in June 2026 had a positive impact on the reported net write-off rates. For the U.S. Consumer portfolio, it reduced the rate by approximately 0.3%, and for the U.S. Small Business portfolio, it reduced the rate by approximately 0.1%. A similar reduction was reflected in the annualized default rate for the Lending Trust.
Are these statistics the same as those reported in the company's regular financial statements?
No, these statistics are additional to the data reported in the company's regular financial statements and the Lending Trust's Form 10-D reports. The methodology and scope can differ. For instance, this report focuses on balances held for investment and uses average balances for write-off calculations, whereas the Lending Trust data may reflect different balance types and calculation methods.
What is the overall trend in credit quality indicated by these numbers?
The overall trend indicated by these preliminary numbers suggests stable to improving credit quality. Delinquency rates are low and holding steady, while net write-off rates, after accounting for the sale of written-off balances, show a favorable decrease in June 2026. The annualized default rate in the securitized portfolio also declined in the most recent month reported.
04—Continue