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 data covers the months ending April 30, March 31, and February 28, 2025. This report provides valuable insights into the company's credit performance, offering additional information beyond what is reported by the American Express Credit Account Master Trust in its monthly Form 10-D filings with the Securities and Exchange Commission.
Notably, effective December 1, 2024, American Express reclassified the Card Member loans related to its Lowe’s small business co-brand portfolio to loans held for sale on the Consolidated Balance Sheets. Consequently, these loans are excluded from the current statistics, which focus solely on Card Member loans held for investment.
The report highlights that the characteristics of the Card Member loans securitized through the Lending Trust differ from those in the total U.S. Consumer and U.S. Small Business Card Member loan portfolios. This distinction can lead to variations in reported credit performance due to differences in loan mix, vintage, and aging, as well as the calculation methods used for write-off statistics.
Investors and stakeholders should note that the statistics for the U.S. Consumer and U.S. Small Business Card Member loan portfolios and the Lending Trust may exhibit variability due to factors such as the number of days in a month, timing of holidays and weekends, seasonality, and the timing of information received from third parties.
For a comprehensive understanding of American Express's credit performance, interested parties are encouraged to review the detailed statistics and accompanying analysis provided in the company's latest Form 8-K filing.
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