American Express Co. Reports August 2026 Card Credit Performance

What Happened
American Express filed an 8‑K on September 15, 2026, providing Regulation FD disclosure of U.S. Consumer and U.S. Small Business card portfolio credit metrics for the months ended August 31, July 31 and June 30, 2026. As of August 31, 2026, U.S. Consumer card balances were $114.2 billion and U.S. Small Business balances were $46.1 billion, for a combined $160.3 billion held for investment. Thirty‑day delinquency rates were stable at about 1.1% for Consumer and 1.3% for Small Business in August. The filing also reported net write‑off rates and Lending Trust performance (American Express Credit Account Master Trust) for the same periods.

Key Details

• Total card balances held for investment (Aug 31, 2026): U.S. Consumer $114.2B; U.S. Small Business $46.1B; total $160.3B.
• 30 days past due (Aug 31, 2026): U.S. Consumer 1.1%; U.S. Small Business 1.3%.
• Net write‑off rate – principal only (Aug/Jul/Jun 2026): Consumer 1.7% / 1.7% / 1.4%; Small Business 2.2% / 2.6% / 2.3%. (June rates were reduced by proceeds from a sale of previously written‑off balances.)
• Lending Trust (Aug 1–31, 2026): ending principal balance $25.0B; annualized default rate, net of recoveries 1.0%; total 30+ days delinquent ≈ $0.2B.

Why It Matters
These metrics give investors updated, portfolio‑level credit performance for American Express’s U.S. consumer and small business lending. Stable delinquency rates and the reported write‑off trends help assess near‑term credit losses and the potential impact on future loan loss provisions and earnings. The note that June write‑off rates were reduced by a sale of previously written‑off balances is important because such transactions can temporarily alter reported loss rates and Lending Trust results.