American Express Company (AXP, Financial) has released its latest delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios. The report covers the months ending January 31, 2025, December 31, 2024, and November 30, 2024. Notably, effective December 1, 2024, American Express reclassified $758 million of Card Member loans related to its Lowe’s small business cobrand portfolio to loans held for sale on the Consolidated Balance Sheets. Consequently, these loans are excluded from the January 2025 and December 2024 statistics, which only reflect loans held for investment.
The statistics provide additional insights beyond the data reported by the American Express Credit Account Master Trust in its monthly Form 10-D report filed with the Securities and Exchange Commission. It is important to note that the securitized Card Member loans in the Lending Trust differ in characteristics from the total U.S. Consumer and U.S. Small Business Card Member loan portfolios, which include both securitized and non-securitized loans. The credit performance of the Lending Trust may vary monthly due to differences in loan mix, vintage, aging, and calculation mechanics, among other factors.
These statistics are subject to variability due to several factors, including the number of days in a month, timing of holidays and weekends, seasonality, and the timing of information received from third parties. American Express continues to provide transparency in its financial reporting, offering valuable insights for investors and stakeholders interested in the company's credit performance and portfolio management strategies.
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