12:48 PM EDT, 10/15/2024 (MT Newswires) -- American Express ( AXP ) said Tuesday the net write-off rate for US consumer card member loans in September fell to 1.9% from 2.2% in August.

The net write-off rate for US small business card member loans dropped to 2.1% from 2.3%, the company said in a regulatory filing that provided preliminary figures for September.

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

Total US-based consumer and small business card member loans fell to $116.7 billion in September from $117.4 billion in August.

Shares of American Express ( AXP ) were up 1.2% in recent trading.

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