Summary by Moomoo AI
American Express Company has furnished its delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business Card Member lending portfolios for the months ending December 31, November 30, and October 31, 2023, as well as the cumulative data for the three months ended December 31, 2023. The report, filed with the SEC on January 16, 2024, indicates that U.S. Consumer Card Member loans stood at $83.2 billion with a 30-day past due rate of 1.4% and a net write-off rate of 2.5% for December 2023. U.S. Small Business Card Member loans totaled $25.8 billion, with the same 30-day past due rate and a net write-off rate of 2.2%. The total combined loans for both portfolios reached $109.0 billion. The company also provided additional information on the credit performance of the American Express Credit Account Master Trust, which reported an ending total principal balance of $27.2 billion and an annualized default rate, net of recoveries, of 1.5% for December 2023. These statistics are supplementary to the monthly Form 10-D report filed by the Lending Trust.