AmEx (AXP) Preliminary Delinquencies Down Slightly in March

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April 15, 2013 12:07 PM EDT
American Express Company (NYSE: AXP) is hereby furnishing below delinquency and write-off statistics for the lending portfolio of its U.S. Card Services (“USCS”) operating segment for the months ended January 31, February 28 and March 31, 2013 and the three months ended March 31, 2013.
American Express Company

U.S. Card Services


Delinquency and Write-off Rate Statistics


As of and for the months ended January 31, February 28 and March 31, 2013 and the three months ended March 31, 2013

(Billions, except percentages)

� �
�


�


January 31,


2013

��
�


�


February 28,


2013

��
�


(Preliminary)


March 31,


2013

��
(Preliminary)


Three months ended


March 31,


2013

�

Cardmember lending:

������������

Total loans

�$53.9��$52.4��$53.6��$53.6�

30 days past due loans as a % of total

��1.3%��1.3%��1.2%��1.2%

Average loans

�$54.9��$53.2��$53.0��$54.0�

Net write-off rate – principal only (a)

��1.9%��2.1%��2.0%��2.0%




(a)��


Net write-off rate based on principal only (i.e., excluding interest and /or fees).


Note:��The statistics presented above are based on the USCS operating segment’s total portfolio of cardmember loans determined in accordance with U.S. generally accepted accounting principles, which includes all securitized and non-securitized cardmember loans.

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