American Express (AXP) said Monday the net write-off rate for US consumer card member loans in November fell to 2% from 2.4% in October.

The net write-off rate for US small business card member loans rose to 2.3% from 2.2% in October, the company said in a regulatory filing. The November write-off rates are based on principal only, excluding interest or fees.

Total US-based consumer and small business card member loans increased to $120 billion in November from $118.5 billion in October, the company said.

Price: 304.01, Change: +1.87, Percent Change: +0.62