AI English summary of an SEC filing — figures as filed
American Express AXPAmerican Express said U.S. Consumer Card Member total loans were $81.1 billion as of January 31, 2024, and the rate of loans 30 or more days past due was 1.5% of total loans. The delinquency rates were 1.4% as of December 31, 2023 and November 30, respectively.
Key points
AI summaryAmerican Express said U.S. Consumer Card Member total loans were $81.1 billion as of January 31, 2024, and the rate of loans 30 or more days past due was 1.5% of total loans. The delinquency rates were 1.4% as of December 31, 2023 and November 30, respectively.
The company reported net write-off rates on principal only for U.S. Consumer Card Member loans of 2.1% in January 2024, 2.5% in December 2023, and 1.7% in November. It said that, because of the timing of the Thanksgiving holiday, information on certain debt settlement agreements was received later in the month, and the related loans were written off in November December in the ordinary course.
As of January 31, 2024, Amex said U.S. Small Business Card Member total loans were $26.2 billion, the rate of loans 30 or more days past due was 1.5%, and the net write-off rate on principal only was 2.1%. Loans December 31, 2023 were $25.8 billion, with a delinquency rate of 1.4% and a net write-off rate of 2.2%.
American Express said the ending total principal balance of the American Express Credit Account Master Trust as of January 2024 was $25.9 billion, with an annualized default rate, net of recoveries, of 1.3%. The total amount of loans 30 or more days delinquent was $0.2 billion.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
U.S. Consumer Card Loans and Delinquency Rates
American Express said U.S. Consumer Card Member total loans were $81.1 billion as of January 31, 2024, and the rate of loans 30 or more days past due was 1.5% of total loans. The delinquency rates were 1.4% as of December 31, 2023 and November 30, respectively.
Source · Based on the filing body and exhibits
U.S. Consumer Net Write-off Rates (Principal Only)
The company reported net write-off rates on principal only for U.S. Consumer Card Member loans of 2.1% in January 2024, 2.5% in December 2023, and 1.7% in November. It said that, because of the timing of the Thanksgiving holiday, information on certain debt settlement agreements was received later in the month, and the related loans were written off in November December in the ordinary course.
Source · Based on the filing body and exhibits
U.S. Small Business Card Loan Summary
As of January 31, 2024, Amex said U.S. Small Business Card Member total loans were $26.2 billion, the rate of loans 30 or more days past due was 1.5%, and the net write-off rate on principal only was 2.1%. Loans December 31, 2023 were $25.8 billion, with a delinquency rate of 1.4% and a net write-off rate of 2.2%.
Source · Based on the filing body and exhibits
Lending Trust Credit Performance Metrics
American Express said the ending total principal balance of the American Express Credit Account Master Trust as of January 2024 was $25.9 billion, with an annualized default rate, net of recoveries, of 1.3%. The total amount of loans 30 or more days delinquent was $0.2 billion.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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