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AI brief of an SEC Form 8-K · American Express (AXP)

American Express July card net write-off rates: 1.7% consumer, 2.6% small business

Neutral Impact 2 of 5 other Written later

American Express reported monthly credit statistics for its U.S. Consumer and U.S. Small Business Card portfolios for July 2026. Net write-off rates rose from June, but June was lowered by a sale of previously written-off balances, and the consumer rate fell from May.

Key points

  • U.S. Consumer net write-off rate (principal only) was 1.7% for July 2026, up from 1.4% in June and down from 2.0% in May.
  • U.S. Small Business net write-off rate was 2.6% for July 2026, up from 2.3% in June and equal to May's 2.6%.
  • The June 2026 sale of previously written-off balances reduced net write-off rates by approximately 0.3% for Consumer and 0.1% for Small Business.
  • Total held-for-investment Card balances were $159.2 billion at July 31, 2026, versus $159.7 billion at June 30, 2026.

The filing

CompanyAmerican Express (AXP)
Form8-K, current report
Filed with the SECAug 17, 2026, 12:00 PM ET
Accession number0000004962-26-000345

Items reported: 7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:16 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 17, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.