American Express (NYSE: AXP) shows July card delinquencies and 1.7% write-offs
American Express (AXP) reported July 2026 U.S. Consumer card performance for balances held for investment. Consumer balances were $113.1B, with 1.1% 30-days past due and a 1.7% net write-off rate on principal. U.S. Small Business balances were $46.1B, with 1.3% past due and 2.6% net write-offs. Total was $159.2B.
How this was made
The 30-second read
Why it matters
The new July 2026 delinquency and net write-off rates update the credit-loss outlook used by traders to frame near-term earnings risk and credit-cycle positioning.
Market read
This is a fresh monthly credit-quality datapoint for AXP, useful for traders monitoring consumer loss trends, though it is not a guidance or earnings release.
What to watch
The filing notes portfolio exclusions and differences between securitized trust metrics and total card portfolios, so traders should compare like-for-like across months before extrapolating.
Background
American Express publishes monthly credit performance statistics via an 8-K, including delinquency (30+ DPD) and net write-off rates for U.S. Consumer and U.S. Small Business card balances held for investment.
Ticker impact
American Express filed July 2026 U.S. Consumer credit performance showing 1.1% of balances 30 days past due and 1.7% net write-offs.
Likely modest, with direction dependent on whether traders view 1.7% write-offs and 1.1% 30+ DPD as improving or deteriorating versus recent months.
This is a new Form 8-K monthly datapoint with specific delinquency and net write-off rates for both U.S. Consumer and U.S. Small Business portfolios, but it is not a full earnings release or guidance change.
Market effects
Monthly credit-performance prints can shift sentiment across U.S. card issuers by signaling consumer delinquency and loss-rate trajectory.
Primarily impacts U.S. consumer credit risk perception for large card networks and issuers.
Limited direct global impact, but can affect broader financials sentiment through credit-cycle expectations.
Counterpoint
Write-off rates may be distorted by portfolio sales and classification changes (held-for-sale exclusions), so the headline loss-rate may not reflect underlying deterioration.
Key entities
- issuerAmerican Express Company
Filed monthly U.S. card credit performance statistics for July 31, 2026, including 30+ DPD and net write-off rates.
- portfolioU.S. Consumer Card Balances (held for investment)
$113.1B at July 31, 2026 with 1.1% 30 days past due and 1.7% net write-off rate on principal.
- portfolioU.S. Small Business Card Balances (held for investment)
$46.1B at July 31, 2026 with 1.3% 30 days past due and 2.6% net principal write-off rate.
- securitization vehicleAmerican Express Credit Account Master Trust
Ending total principal balance $24.9B for July 1-31, 2026, with annualized default rate net of recoveries of 1.1%.
