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 September 30, August 31, and July 31, 2024, as well as the three-month period ending September 30, 2024.
This report provides additional insights beyond the data reported by the American Express Credit Account Master Trust in its monthly Form 10-D filings with the Securities and Exchange Commission. It is important to note that the characteristics of the Card Member loans securitized through the Lending Trust differ from those of the total U.S. Consumer or 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 on a month-to-month basis due to factors such as differences in loan mix, vintage, and aging. Additionally, the calculation methods for write-off statistics differ between the Lending Trust and the overall loan portfolios, potentially impacting reported net write-off rates.
For value investors and stakeholders, these statistics offer a deeper understanding of American Express's credit performance and risk management strategies. The detailed data can help in assessing the company's financial health and operational efficiency in managing its lending portfolios.
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