AI English summary of an SEC filing — figures as filed
American Express AXPAmerican Express said it reclassified $758 million of Card Member loans related to its Lowe’s small business cobrand portfolio as Card Member loans held for sale on the Consolidated Balance Sheets, effective December 1, 2024. These loans are not reflected in the tables for January 2025 or December 2024, which include only held for investment loans.
Key points
AI summaryAmerican Express said it reclassified $758 million of Card Member loans related to its Lowe’s small business cobrand portfolio as Card Member loans held for sale on the Consolidated Balance Sheets, effective December 1, 2024. These loans are not reflected in the tables for January 2025 or December 2024, which include only held for investment loans.
The company reported total U.S. Consumer Card Member loans of $89.4 billion as of January 31, 2025, $92.6 billion as of December 31, 2024, and $89.3 billion as of November 30, 2024. Net write-off rates based on principal only were 2.3%, 2.1% and 2.0%, respectively.
The company reported total U.S. Small Business Card Member loans of $30.1 billion as of January 31, 2025, $29.6 billion as of December 31, 2024, and $30.7 billion as of November 30, 2024. American Express said the share of loans 30 or more days past due was 1.6%, 1.5% and 1.5%, and net write-off rates based on principal only were 2.5%, 2.4% and 2.3%.
The company said the annualized default rate, net of recoveries, for American Express Credit Account Master Trust was 1.5% for January 2025, 1.2% for December 2024 and 1.3% for November 2024. The ending total principal balance as of the end of January 2025 was $25.5 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.
Lowe’s Small Business Cobrand Loans of $758 million Reclassified as Held for Sale
American Express said it reclassified $758 million of Card Member loans related to its Lowe’s small business cobrand portfolio as Card Member loans held for sale on the Consolidated Balance Sheets, effective December 1, 2024. These loans are not reflected in the tables for January 2025 or December 2024, which include only held for investment loans.
Source · Based on the filing body and exhibits
U.S. Consumer Card Member Loan Balances and Net Write-off Rates
The company reported total U.S. Consumer Card Member loans of $89.4 billion as of January 31, 2025, $92.6 billion as of December 31, 2024, and $89.3 billion as of November 30, 2024. Net write-off rates based on principal only were 2.3%, 2.1% and 2.0%, respectively.
Source · Based on the filing body and exhibits
U.S. Small Business Card Member Loan Balances, Delinquencies and Net Write-off Rates
The company reported total U.S. Small Business Card Member loans of $30.1 billion as of January 31, 2025, $29.6 billion as of December 31, 2024, and $30.7 billion as of November 30, 2024. American Express said the share of loans 30 or more days past due was 1.6%, 1.5% and 1.5%, and net write-off rates based on principal only were 2.5%, 2.4% and 2.3%.
Source · Based on the filing body and exhibits
American Express Credit Account Master Trust Credit Performance
The company said the annualized default rate, net of recoveries, for American Express Credit Account Master Trust was 1.5% for January 2025, 1.2% for December 2024 and 1.3% for November 2024. The ending total principal balance as of the end of January 2025 was $25.5 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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