American Express said U.S. Consumer Card Member loans' total loans as of November 30, 2025 were $97.7 billion, and the net write-off rate on a principal-only basis was 2.1%. As of September 30, total loans were $94.1 billion and the net write-off rate was 1.9%.

1. 01

   American Express said U.S. Consumer Card Member loans' total loans as of November 30, 2025 were $97.7 billion, and the net write-off rate on a principal-only basis was 2.1%. As of September 30, total loans were $94.1 billion and the net write-off rate was 1.9%.

2. 02

   The company said U.S. Small Business Card Member loans' total loans as of November 30, 2025 were $31.4 billion, and 30 days past due loans represented 1.6% of the total. The net write-off rate on a principal-only basis was 2.7% in November and 2.5% in September.

3. 03

   American Express said total Card Member loans held for investment for U.S. Consumer and U.S. Small Business combined were $129.1 billion as of November 30, 2025, $126.4 billion as of October 31 and $124.8 billion as of September 30. Card Member loans classified as held for sale were not reflected in the table.

4. 04

   The company said the American Express Credit Account Master Trust's ending total principal balance for November 2025 was $25.7 billion, and the annualized default rate, net of recoveries, was 1.2%. The default rate was 1.3% in both October and September.

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