American Express (AXP) Shows 30 Days Past Due Loans Rise to 5.3% at 2/28/09

American Express (NYSE: AXP) issued U.S. card services monthly dilinquiency and write-off statistics:

The company showed that for cardmember lending - on an owned basis:

• Total Loans: fell from $32.7B at 12/31/08, to $30.4B at 1/31/09, to $29.5B at 2/28/09
  
• 30 days past due loans as a % of total: Rose from 4.7% at 12/31/08, to 5.1% at 1/31/09, to 5.3% at 2/28/09
  
• Average loans: fell from $32.6B at 12/31/08, to $31.5B at 1/31/09, to $29.9B at 2/28/09
  
• Net write-off rate: ros from 7.5% at 12/31/08, to 8.3% at 1/31/09, to 8.7% at 2/28/09
  

The company showed that for cardmember lending - on a manged basis:

• Total Loans: fell from $62.4B at 12/31/08, to $59.5B at 1/31/09, to $57.8B at 2/28/09
  
• 30 days past due loans as a % of total: Rose from 4.7% at 12/31/08, to 5.1% at 1/31/08, to 5.3% at 2/28/09
  
• Average loans: fell from $62.4B at 12/31/08, to $61B at 1/31/09, to $58.6B at 2/28/09
  
• Net write-off rate: Rose from 7.3% at 12/31/08, to 8.1% at 1/31/09, to 8.6% at 2/28/09
  

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