AmEx July credit stats: net write-off rate falls to 2.1% for Consumer, 2.3% for Small Business

AMERICAN EXPRESS CO

Total card member loans $115.1B as of July 31, up from $113.6B in June and $112.2B in May.
U.S. Consumer net write-off rate (principal only) improved to 2.1% in July from 2.3% in June and 2.4% in May.
U.S. Small Business net write-off rate improved to 2.3% in July from 2.4% in June and 2.5% in May.
30+ days past due loans stable at 1.3% (Consumer) and 1.4% (Small Business) for all three months.
Lending Trust annualized default rate declined to 1.2% in July from 1.5% in June.

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