American Express August Delinquency Rates Unchanged at 1.1%

American Express reported its August card delinquency and write-off rates. The credit card giant saw no change in 30-day delinquencies for U.S. Consumer Card balances, which stood at 1.1% of total balances as of August 31. This rate was also unchanged from the prior two months.

The net write-off rate for principal only was 1.7% in both August and July, up from 1.4% in June. The company noted that a sale of previously written-off card balances to a third party in June reduced the net write-off rates by approximately 0.3% for U.S. Consumer portfolios.

Average card balances for U.S. Consumer Card balances were $113.7 billion in August, $113.5 billion in July, and $113.8 billion in June. For U.S. Small Business Card balances, totals were $46.1 billion in both August and July, and $45.9 billion in June.