8-K: American Express Card Delinquency and Write-off Data

American Express Company has released its U.S. Consumer and Small Business card delinquency and write-off statistics for the months ending March 31, April 30, and May 31, 2026.

Summary

• American Express Company provided updated delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business card portfolios held for investment.
• For U.S. Consumer Card balances, total balances were $110.8 billion in March, $111.4 billion in April, and $113.8 billion in May 2026.
• The 30-day past due rate for U.S. Consumer cards decreased from 1.3% in March to 1.1% in May.
• The net write-off rate (principal only) for U.S. Consumer cards remained stable at 2.0% in March and May, with a slight increase to 2.1% in April.
• For U.S. Small Business Card balances, total balances increased from $45.2 billion in March to $46.7 billion in May.
• The 30-day past due rate for U.S. Small Business cards decreased from 1.6% in March to 1.4% in May.
• The net write-off rate (principal only) for U.S. Small Business cards was 2.6% in March, decreased to 2.4% in April, and returned to 2.6% in May.
• Total card balances held for investment across both segments grew from $156.0 billion in March to $160.5 billion in May.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, as key delinquency metrics show a slight improvement, though small business write-offs remain a point of attention.

Positives

• The 30-day past due rate for U.S. Consumer cards showed a downward trend, decreasing from 1.3% in March to 1.1% in May.
• The 30-day past due rate for U.S. Small Business cards also improved, declining from 1.6% in March to 1.4% in May.
• Total card balances held for investment increased, indicating portfolio growth, from $156.0 billion to $160.5 billion over the period.

Negatives

• The net write-off rate for U.S. Small Business cards remained at 2.6% for March and May, which is higher than the U.S. Consumer card write-off rate.
• The total card balances held for investment are substantial, representing significant credit exposure.

Risks

• Potential variability in credit performance statistics due to factors like the number of days in a month, holidays, seasonality, and timing of third-party information.
• The net write-off rate for U.S. Small Business cards remained at 2.6% in March and May, indicating a persistent level of bad debt in this segment.
• The Lending Trust's credit performance may differ from the overall portfolio due to differences in balance mix, vintage, aging, and calculation methodologies.

Future Outlook

The filing does not contain specific forward-looking statements or guidance. It presents historical delinquency and write-off data.

Industry Context

StockSavvy.ai notes that these statistics provide a snapshot of credit quality within American Express's core U.S. card portfolios. Trends in delinquency and write-off rates are critical indicators of economic health and consumer/business financial resilience, particularly relevant in the current macroeconomic environment.

Stakeholder Impact

• Shareholders: The data provides insight into the credit risk management of the company, which directly impacts profitability and investor confidence.
• Creditors: Stable or improving delinquency rates suggest lower risk for the company's debt obligations.
• Customers (Consumer and Small Business): The data reflects the company's assessment of the financial health of its customer base.

Key Dates

Keywords

American Express, SEC Filing, 8-K, Credit Card Delinquency, Write-off Rate, Consumer Credit, Small Business Credit, Financial Statistics