American Express (AXP) said in a filing Tuesday that the net write-off rate for its US consumer card member loans in March decreased to 2.4% from 2.5% in February.

The net write-off rate for US small business card member loans in March remained unchanged month over month at 2.6%.

The write-off rates are based on principal only, excluding interest or fees.

Total US-based consumer and small business card member loans increased to $121.3 billion in March from $118 billion in February, the company said.

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