American Express Reports Stable August Delinquencies at 1.1%

American Express reported stable U.S. consumer card delinquencies alongside minor fluctuations in small business credit metrics for August in a recent SEC filing, providing insight into portfolio health as borrowing costs remain elevated.

As of August 31, 2026, total U.S. Consumer Card balances stood at $114.2 billion, according to an Investing.com report detailing the filing. The data showed 30-day delinquencies held steady at 1.1% accompanied by a principal-only net write-off rate of 1.7%.

Small Business Portfolio Performance

Performance metrics for corporate cardholders revealed slight variations compared to the consumer segment. U.S. Small Business Card balances totaled $46.1 billion for the month, recording a 30-day delinquency rate of 1.3% and a net write-off rate of 2.2%.

These figures follow portfolio adjustments earlier in the year. In June 2026, American Express sold certain previously written-off card balances to an outside third party. That transaction reduced net write-off rates for that specific month by approximately 0.3 percentage points for the U.S. Consumer portfolio and 0.1 percentage points for the U.S. Small Business portfolio.

Master Trust and Market Data

Additional credit health indicators emerged from the American Express Credit Account Master Trust. The trust reported an ending principal balance of $25.0 billion with an annualized default rate, net of recoveries, of 1.0% as of August 31, 2026.

In the public equity markets, American Express Co (AXP) closed at $311.17, down 0.40% from its previous close, according to Finnhub market data.

What Credit Metrics Reveal About Borrowers

Tracking monthly delinquency and write-off figures offers a window into consumer and small-business debt repayment capacity. Delinquency rates track accounts that have fallen behind on scheduled payments by 30 days or more, serving as an early indicator of financial stress before accounts transition into write-offs, where creditors deem the debt uncollectible and charge it off against reserves.