American Express (AXP) said Wednesday the net write-off rate for US consumer card member loans in December 2024 rose to 2.1% from 2% in November.
The net write-off rate for US small business card member loans increased to 2.4% from 2.3% in November, the company said in a regulatory filing that provided preliminary figures for December.
The December write-off rates are based on principal only, excluding interest or fees.
Total US-based consumer and small business card member loans climbed to $122.2 billion in December from $120 billion in November, the company said.
Shares of American Express were up 3.6% in recent trading.
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