American Express Reports March 2025 Card Delinquency and Write-Off Rates

American Express disclosed delinquency and write-off statistics for its U.S. Consumer and Small Business Card Member loans for the first quarter of 2025. Total loans reached $121.3 billion, with consumer loans at $90.1 billion and small business loans at $31.2 billion.

Delinquency rates held steady at 1.4% for consumers and 1.6% for small businesses. Net write-off rates were 2.4% and 2.6%, respectively. These figures exclude the Lowe’s small business portfolio, which was reclassified as held for sale in December 2024.

The separate Lending Trust reported an annualized net default rate of 1.5% for March, in line with January and slightly lower than February’s 1.8%. Delinquencies for the trust remained constant at $0.2 billion.