American Express credit card charge-offs, delinquency stay solid in July

[American Express Credit Card]
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American Express (NYSE:AXP [https://seekingalpha.com/symbol/AXP]) consumer credit card's delinquency and net charge-off rates were little changed in July even as its lending increased during the month, according to a company filing on Friday.

Its U.S. consumer card delinquency rate was 1.3% [https://seekingalpha.com/filing/10311685] in July, unchanged from the prior two months and flat with the year-ago level. The net charge-off rate of 2.0% ticked down from 2.1% and compares with 2.1% in July 2024.

U.S. consumer credit card loans of $93.7B rose 1.2% M/M and 9.1% Y/Y.

For American Express's (NYSE:AXP [https://seekingalpha.com/symbol/AXP]) U.S. small business card members, the delinquency rate was 1.6%, unchanged from 1.6%. Net charge-off rate was 2.7%, up from 2.6%. While loans rose to $30.5B from $30.1B.

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