Amex Sees Stable Delinquencies Amid Strong Q2 Earnings

American Express has reported its July card delinquency and write-off rates for its U.S. Consumer and Small Business portfolios.

The company's total U.S. Consumer card balances held for investment stood at $113.1 billion as of July 31, with a 30-day delinquency rate of 1.1% and a net write-off rate of 1.7%. For June 30, the same rates were 1.1% and 1.4%, respectively.

The U.S. Small Business card balances totaled $46.1 billion as of July 31, with a delinquency rate of 1.3% and a net write-off rate of 2.6%. The June 30 rates were 1.4% and 2.3%, respectively.

American Express noted that it sold certain previously written-off card balances to a third party in June, which reduced the net write-off rates for that month by approximately 0.3% for the U.S. Consumer portfolio and 0.1% for the Small Business portfolio.