01—Abstract
Summary
Summary of the 8-K filed September 15, 2026. Cited figures are marked; the original filing is the authoritative source.
American Express Company (AXP) has filed an 8-K report on September 15, 2026, providing updated delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business card portfolios, as well as for the American Express Credit Account Master Trust, for the months ending August 31, July 31, and June 30, 2026.
These disclosures are furnished under Regulation FD and offer investors a look into the credit quality of AXP's loan portfolios, excluding balances held for sale. The data provides key metrics such as 30-day past due percentages and net write-off rates, offering insights into potential credit losses and the company's risk management effectiveness. Overall, the reported statistics for both the U.S. Consumer and U.S. Small Business portfolios indicate a stable credit environment for the period.
While the net write-off rate for the U.S. Consumer portfolio remained steady, the U.S. Small Business portfolio saw a slight increase in write-offs in July, followed by a decrease in August. The Lending Trust data also shows a generally consistent performance in default rates. Investors should note the impact of a one-time sale of previously written-off balances in June 2026, which affected the reported write-off and default rates for that month.
02—Key points
Key Highlights
- U.S. Consumer 30-day delinquency rate remained stable at 1.1% for all three months ending August 31, July 31, and June 30, 2026.
- U.S. Consumer net write-off rate (principal only) was 1.7% for August and July, slightly increasing from 1.4% in June 2026.
- U.S. Small Business 30-day delinquency rate saw a slight decrease from 1.4% in June to 1.3% in July and August 2026.
- U.S. Small Business net write-off rate (principal only) was 2.2% in August, down from 2.6% in July but up from 2.3% in June 2026.
- Total Card balances held for investment (U.S. Consumer & Small Business) grew slightly from $159.7 billion in June to $160.3 billion in August 2026.
- The American Express Credit Account Master Trust reported an annualized default rate, net of recoveries, of 1.0% for August, up from 0.7% in June but down from 1.1% in July 2026.
- A sale of previously written-off Card balances in June 2026 impacted the June write-off and default rates by reducing them by approximately 0.3% for U.S. Consumer and 0.1% for U.S. Small Business portfolios.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
This 8-K filing is primarily to furnish updated delinquency and write-off statistics for American Express's U.S. Consumer and U.S. Small Business card portfolios, as well as for the American Express Credit Account Master Trust. These disclosures are made under Regulation FD to provide investors with current information on the credit performance of the company's loan assets.
How stable are the delinquency rates for American Express's card portfolios?
The delinquency rates appear relatively stable. The U.S. Consumer 30-day past due rate held steady at 1.1% across the reported months. The U.S. Small Business 30-day past due rate showed a slight improvement, decreasing from 1.4% in June to 1.3% in July and August 2026.
How did the sale of written-off balances in June 2026 affect the reported metrics?
The sale of previously written-off Card balances to a third party in June 2026 had a one-time impact on the reported net write-off rates and annualized default rates for June. This sale reduced the reported net write-off rates by approximately 0.3% for the U.S. Consumer portfolio and 0.1% for the U.S. Small Business portfolio in June. Similarly, it affected the Lending Trust's annualized default rate for June.
Are these statistics representative of all American Express card balances?
No, these statistics represent card balances classified as 'held for investment' only. Card balances that are classified as 'held for sale' are excluded from these figures. Additionally, the data for the Lending Trust reflects only revolve-eligible balances, which differ from the total U.S. Consumer and U.S. Small Business card balance portfolios.
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