Monitor next quarterly earnings (10-Q) for any trend in net write-off rates and provisioning, especially if the 30-day past due uptick persists into Q4 2026.
Price Chart
Executive Summary
American Express disclosed preliminary delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business card portfolios for the months ended September 30, August 31, and July 31, 2026. The data shows a slight sequential increase in the 30-day past due rate for both segments and a modest improvement in net write-off rates for U.S. Small Business, while overall credit performance remains stable.
Key Facts
- U.S. Consumer total card balances: $114.3B as of September 30, 2026
- U.S. Consumer 30 days past due as % of total: 1.2% in September vs 1.1% in August
- U.S. Consumer net write-off rate (principal only): 1.5% in September vs 1.7% in August
- U.S. Small Business total card balances: $46.6B as of September 30, 2026
- U.S. Small Business 30 days past due as % of total: 1.4% in September vs 1.3% in August
- U.S. Small Business net write-off rate (principal only): 2.1% in September vs 2.2% in August
- Total card balances held for investment (U.S. Consumer + Small Business): $160.9B as of September 30, 2026
- Lending Trust annualized default rate, net of recoveries: 1.0% for September vs 1.1% for July
Financial Impact
No material financial impact disclosed; the filing provides routine monthly credit performance metrics.
Risk Factors
- Rising delinquency rates could signal consumer credit stress, potentially leading to higher loan loss provisions.
- Preliminary data may be subject to revision in subsequent filings.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000004962-26-000383 |
| Document: 0000004962-26-000383-index-headers.html | 0000004962-26-000383 |
| Document: 0000004962-26-000383-index.html | 0000004962-26-000383 |
| Document: 0000004962-26-000383.txt | 0000004962-26-000383 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $327.49 | awaiting T+5 | — | $313.22 (−4.36%) |
Oct 15, 2026 10d ago | 8-K | $313.87 $325.17 | ▲ +3.60% | ▲ +4.61% | $313.22 (−0.21%) |
Oct 9, 2026 17d ago | ANALYST-UPGRADE | $308.17 $315.32 | ▲ +2.32% | ▲ +3.77% | $313.22 (+1.64%) |
Oct 8, 2026 17d ago | 8-K | $308.17 $313.59 | ▼ −1.76% | ▼ −3.73% | $313.22 (−1.64%) |
Oct 1, 2026 25d ago | Court Ruling | $302.78 $308.17 | ▲ +1.78% | ▲ +0.62% | $313.22 (+3.45%) |
Sep 15, 2026 5w ago | 8-K | $324.43 $305.07 | ▼ −5.97% | ▼ −8.09% | $313.22 (−3.46%) |
Sep 14, 2026 6w ago | Court Ruling | $324.43 $305.07 | ▼ −5.97% | ▼ −8.08% | $313.22 (−3.46%) |
Sep 8, 2026 6w ago | Court Ruling | $321.80 $312.43 | ▼ −2.91% | ▼ −1.82% | $313.22 (−2.67%) |
Aug 19, 2026 9w ago | Court Ruling | $331.15 $334.16 | ▼ −0.91% | ▲ +0.21% | $313.22 (+5.41%) |
Aug 17, 2026 9w ago | 8-K | $336.21 $337.33 | ▲ +0.33% | ▲ +1.52% | $313.22 (−6.84%) |
US Market Status
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