American Express Company (AXP, Financial) has released its latest delinquency and write-off statistics for U.S. Consumer and U.S. Small Business Card Member loans held for investment. The report covers the months ending June 30, May 31, and April 30, 2025, as well as the three-month period ending June 30, 2025.
In a significant move, effective June 1, 2025, American Express reclassified $1.6 billion of Card Member loans related to its Amazon small business co-brand portfolio to loans held for sale on the Consolidated Balance Sheets. Consequently, these loans are not included in the June 2025 statistics.
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 Card Member loans securitized through the Lending Trust differ in characteristics from the total U.S. Consumer or U.S. Small Business Card Member loan portfolios, which include both securitized and non-securitized loans.
The reported credit performance of the Lending Trust may vary monthly due to differences in loan mix, vintage, and aging, as well as the mechanics of calculating the net write-off rate. Additionally, factors such as the number of days in a month, timing of holidays and weekends, seasonality, and third-party information timing can influence the statistics for any given period.
For more detailed insights and to understand the implications of these statistics on American Express's financial health, visit GuruFocus.com.
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