American Express Co.
American Express Discloses Delinquency and Write-off Statistics
Summary
American Express Company furnished delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios for the months ended March 31, February 29, and January 31, 2024, and the three months ended March 31, 2024. The disclosure includes data on total loans, 30 days past due loans as a percentage of total, average loans, and net write-off rates. For the U.S. Consumer Card Member loans, total loans were $82.3 billion as of March 31, 2024, with a 30 days past due rate of 1.4% and a net write-off rate of 2.3%. For the U.S. Small Business Card Member loans, total loans were $27.6 billion as of March 31, 2024, with a 30 days past due rate of 1.5% and a net write-off rate of 2.3%.
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About American Express Co.
American Express Co. is a leading global financial services company, primarily known for its charge cards, credit cards, and travel-related services. Founded in 1850 and headquartered in New York City, American Express is recognized for its premium customer service and luxury lifestyle benefits, distinguishing it within the highly competitive financial services industry. Its products are used by individual consumers, small businesses, and large corporations, showing a robust presence in various sectors. The company's core operations encompass a broad range of payment solutions, offering rewarding loyalty programs such as Membership Rewards, which enhance customer engagement and satisfaction. American Express also provides products related to expense management and international payment processing, essential for businesses and travelers worldwide. Their unique charge card model, which requires payment in full each month, promotes financial discipline among cardholders. American Express plays a significant role in the financial market, not only by facilitating consumer and business transactions but also by supporting economic activities and travel industries. Its stock performance is closely watched by investors for insights into consumer spending trends, making it a vital entity in global financial dynamics.
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