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Lender stress: American Express Company
Ticker AXP. Three public records about this lender, one panel each. They are not combined: each has its own source, date and caveat.
The three records are reported separately and measure different things. Showing them together does not mean one explains another. Information, not investment advice.
Bank card and auto loans at American Express Company
Q2 2026Past-due and charge-off rates on credit card and auto loans of the banks American Express Company owns, from FDIC call reports
US bank subsidiaries Q2 2026: card past due 0.79%, auto past due —. Banks: AMERICAN EXPRESS NB.
| Quarter | Card loans | Card past due | Card charge-offs | Auto loans | Auto past due | Auto charge-offs |
|---|---|---|---|---|---|---|
| Q2 2026 | $113B | 0.79% | 2.27% | — | — | — |
| Q1 2026 | $110B | 0.87% | 2.37% | — | — | — |
| Q4 2025 | $114B | 0.87% | 2.53% | — | — | — |
| Q3 2025 | $107B | 0.99% | 2.25% | — | — | — |
| Q2 2025 | $105B | 0.87% | 2.34% | — | — | — |
| Q1 2025 | $103B | 0.91% | 2.69% | — | — | — |
| Q4 2024 | $107B | 0.90% | 2.33% | — | — | — |
| Q3 2024 | $99.4B | 0.96% | 2.39% | — | — | — |
Source: FDIC call reports (FDIC BankFind), quarter ended 2026-06-30. These are the figures of the lender's US bank subsidiaries, as filed with the FDIC, not of the holding company's whole business. A lender can hold part of its card or auto loans outside its banks. Past due means 30 or more days; charge-offs are the quarter's net charge-offs times four, over loans.
Credit card metrics at American Express Company
Sep 2026Monthly charge-offs and late payments on credit card loans, from American Express Company's own reports and the card trusts it sponsors, filed with the SEC
Issuer-wide figures and securitized card pools are different sets of loans, so they are shown apart and are not added together.
American Express, U.S. consumer Issuer-wide
Sep 2026: net charge-offs 1.5% (-0.2 pp against a year earlier), 30+ days late 1.2%(-0.1 pp), loans $114B. U.S. consumer Card balances (loans and receivables), from the report on April 2026, filed in May 2026.
| Month | Net charge-offs | 30+ days late | Loans |
|---|---|---|---|
| Sep 2026 | 1.5% | 1.2% | $114B |
| Aug 2026 | 1.7% | 1.1% | $114B |
| Jul 2026 | 1.7% | 1.1% | $113B |
| Jun 2026 | 1.4% | 1.1% | $114B |
| May 2026 | 2.0% | 1.1% | $114B |
| Apr 2026 | 2.1% | 1.2% | $111B |
| Mar 2026 | 2.0% | 1.3% | $111B |
| Feb 2026 | 1.9% | 1.3% | $107B |
| Jan 2026 | 1.8% | 1.3% | $110B |
| Dec 2025 | 2.2% | 1.3% | $114B |
| Nov 2025 | 2.0% | 1.3% | $111B |
| Oct 2025 | 2.1% | 1.3% | $108B |
| Sep 2025 | 1.7% | 1.3% | $107B |
Net write-off rate counts principal only (interest and fees excluded). Delinquency is Card balances 30 or more days past due as a share of total Card balances. From the report on April 2026 (filed in May 2026) American Express counts loans and receivables together (Card balances), so these figures are not comparable with its earlier Card Member loans series, which is kept apart.
American Express, small business Issuer-wide
Sep 2026: net charge-offs 2.1% (-0.1 pp against a year earlier), 30+ days late 1.4%(-0.1 pp), loans $46.6B. U.S. small business Card balances (loans and receivables), from the report on April 2026, filed in May 2026.
| Month | Net charge-offs | 30+ days late | Loans |
|---|---|---|---|
| Sep 2026 | 2.1% | 1.4% | $46.6B |
| Aug 2026 | 2.2% | 1.3% | $46.1B |
| Jul 2026 | 2.6% | 1.3% | $46.1B |
| Jun 2026 | 2.3% | 1.4% | $45.9B |
| May 2026 | 2.6% | 1.4% | $46.7B |
| Apr 2026 | 2.4% | 1.5% | $45.8B |
| Mar 2026 | 2.6% | 1.6% | $45.2B |
| Feb 2026 | 2.5% | 1.6% | $43.9B |
| Jan 2026 | 2.4% | 1.6% | $44.3B |
| Dec 2025 | 2.3% | 1.5% | $43.8B |
| Nov 2025 | 2.3% | 1.5% | $44.7B |
| Oct 2025 | 2.4% | 1.5% | $44.8B |
| Sep 2025 | 2.2% | 1.5% | $43.8B |
Net write-off rate counts principal only (interest and fees excluded). Delinquency is Card balances 30 or more days past due as a share of total Card balances. From the report on April 2026 (filed in May 2026) American Express counts loans and receivables together (Card balances), so these figures are not comparable with its earlier Card Member loans series, which is kept apart.
American Express, U.S. consumer (to Mar 2026) Issuer-wide Earlier series, reported to Mar 2026
Mar 2026: net charge-offs 2.2% (-0.2 pp against a year earlier), 30+ days late 1.4%(0.0 pp), loans $97.5B. U.S. consumer Card Member loans, as reported until the March 2026 report; American Express then changed the definition.
| Month | Net charge-offs | 30+ days late | Loans |
|---|---|---|---|
| Mar 2026 | 2.2% | 1.4% | $97.5B |
| Feb 2026 | 2.0% | 1.4% | $95.1B |
| Jan 2026 | 1.9% | 1.4% | $97.2B |
| Dec 2025 | 2.1% | 1.3% | $100B |
| Nov 2025 | 2.1% | 1.4% | $97.7B |
| Oct 2025 | 2.2% | 1.4% | $95.2B |
| Sep 2025 | 1.9% | 1.4% | $94.1B |
| Aug 2025 | 2.0% | 1.3% | $94.6B |
| Jul 2025 | 2.0% | 1.3% | $93.7B |
| Jun 2025 | 2.1% | 1.3% | $92.6B |
| May 2025 | 2.1% | 1.3% | $92.0B |
| Apr 2025 | 2.0% | 1.4% | $90.7B |
| Mar 2025 | 2.4% | 1.4% | $90.1B |
Net write-off rate counts principal only (interest and fees excluded). Delinquency is loans 30 or more days past due as a share of total loans. Card Member loans held for sale are not included.
- American Express, U.S. consumer (to Mar 2026): not reported after Mar 2026; see the series that continues it, if any.
American Express, small business (to Mar 2026) Issuer-wide Earlier series, reported to Mar 2026
Mar 2026: net charge-offs 2.9% (+0.3 pp against a year earlier), 30+ days late 1.7%(+0.1 pp), loans $32.2B. U.S. small business Card Member loans, as reported until the March 2026 report; American Express then changed the definition.
| Month | Net charge-offs | 30+ days late | Loans |
|---|---|---|---|
| Mar 2026 | 2.9% | 1.7% | $32.2B |
| Feb 2026 | 2.8% | 1.7% | $31.3B |
| Jan 2026 | 2.8% | 1.7% | $31.4B |
| Dec 2025 | 2.7% | 1.7% | $30.8B |
| Nov 2025 | 2.7% | 1.6% | $31.4B |
| Oct 2025 | 2.6% | 1.6% | $31.2B |
| Sep 2025 | 2.5% | 1.6% | $30.7B |
| Aug 2025 | 2.7% | 1.6% | $30.9B |
| Jul 2025 | 2.7% | 1.6% | $30.5B |
| Jun 2025 | 2.6% | 1.6% | $30.1B |
| May 2025 | 2.4% | 1.5% | $32.0B |
| Apr 2025 | 2.4% | 1.6% | $31.6B |
| Mar 2025 | 2.6% | 1.6% | $31.2B |
Net write-off rate counts principal only (interest and fees excluded). Delinquency is loans 30 or more days past due as a share of total loans. Card Member loans held for sale are not included.
- American Express, small business (to Mar 2026): not reported after Mar 2026; see the series that continues it, if any.
American Express Credit Account Master Trust Securitized card pool
Sep 2026: net charge-offs 1.00% (-0.3 pp against a year earlier), 30+ days late 0.69%(-0.1 pp), loans $24.7B. Securitized card pool: American Express Credit Account Master Trust.
| Month | Net charge-offs | 30+ days late | Loans | Yield | Excess spread | Payment rate |
|---|---|---|---|---|---|---|
| Sep 2026 | 1.00% | 0.69% | $24.7B | 32.49% | — | 50.90% |
| Aug 2026 | 0.95% | 0.66% | $25.0B | 31.85% | — | 50.05% |
| Jul 2026 | 1.11% | 0.65% | $24.9B | 31.74% | — | 50.79% |
| Jun 2026 | 0.72% | 0.67% | $25.2B | 32.92% | — | 52.29% |
| May 2026 | 1.24% | 0.67% | $25.4B | 31.31% | — | 50.51% |
| Apr 2026 | 1.34% | 0.7% | $25.0B | 32.80% | — | 52.12% |
| Mar 2026 | 1.22% | 0.75% | $25.1B | 30.72% | — | 49.72% |
| Feb 2026 | 1.27% | 0.79% | $24.4B | 34.22% | — | 52.31% |
| Jan 2026 | 1.11% | 0.76% | $25.2B | 31.43% | — | 50.20% |
| Dec 2025 | 1.17% | 0.74% | $26.4B | 30.38% | — | 51.14% |
| Nov 2025 | 1.16% | 0.76% | $25.7B | 31.80% | — | 48.78% |
| Oct 2025 | 1.34% | 0.78% | $25.2B | 30.71% | — | 49.07% |
| Sep 2025 | 1.26% | 0.79% | $25.0B | 32.05% | — | 49.77% |
American Express Credit Account Master Trust (U.S. consumer and small business card receivables selected for the trust). Yield is the trust portfolio yield before losses; the net loss rate is the annualized default rate net of recoveries; the payment rate is the monthly payment rate on principal. The delinquency rate is receivables 30 or more days past due as a share of total receivables. The issuer reports excess spread only per series, so none is shown.
Source: the issuers' and trusts' filings with the SEC (Forms 8-K and 10-D), newest month Sep 2026. US public records (SEC EDGAR), public domain. Percentages are as each issuer reports them. Definitions differ between issuers and between a trust and its issuer. Not investment advice.
Consumer complaints at American Express Company
Jul–Sep 2026Complaints to the CFPB about American Express Company: trend, products, issues, answered in time and closed with relief
Jul–Sep 2026: 2,775 complaints, +7.4% against Jul–Sep 2025 (2,583). 100% were answered in time; 22% of the 2,770 closed ended with monetary or non-monetary relief.
Complaints by month
By product, Jul–Sep 2026
| Product | Complaints | Share | Year earlier | ChangeAgainst the same three months a year earlier. Shown when that window had at least 50 complaints. | In timeShare of complaints the company answered within the CFPB's deadline. | ReliefShare of closed complaints that ended with monetary or non-monetary relief for the consumer. |
|---|---|---|---|---|---|---|
| Credit card | 1,551 | 56% | 1,194 | +29.9% | 100% | 22% |
| Credit reporting or other personal consumer reports | 660 | 24% | 726 | -9.1% | 100% | 15% |
| Debt collection | 308 | 11% | 298 | +3.4% | 100% | 32% |
| Checking or savings account | 144 | 5% | 104 | +38.5% | 100% | 22% |
| Prepaid card | 96 | 3% | 240 | -60.0% | 100% | 51% |
| Money transfer, virtual currency, or money service | 8 | 0% | 8 | — | 100% | 0% |
| Payday loan, title loan, personal loan, or advance loan | 8 | 0% | 9 | — | 100% | 38% |
Biggest issues
| Issue | Complaints | Year earlier |
|---|---|---|
| Problem with a purchase shown on your statement Credit card | 528 | 334 |
| Incorrect information on your report Credit reporting or other personal consumer reports | 366 | 393 |
| Other features, terms, or problems Credit card | 251 | 204 |
| Advertising and marketing, including promotional offers Credit card | 165 | 116 |
| Fees or interest Credit card | 157 | 133 |
| Problem with a company's investigation into an existing problem Credit reporting or other personal consumer reports | 155 | 138 |
| Attempts to collect debt not owed Debt collection | 144 | 96 |
| Improper use of your report Credit reporting or other personal consumer reports | 128 | 179 |
Complaints are unverified and grow with a company's customer count; compare trends, not totals. Source: CFPB Consumer Complaint Database (CFPB), complaints received through 2026-11-11. The newest 15 days are left out: the CFPB publishes a complaint up to 15 days after it arrives.
Information, not investment advice (disclaimer). All lenders.