| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| Not Applicable | ||
| (Former name or former address, if changed since last report) | ||
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Item 7.01 | Regulation FD Disclosure | ||||
| August 31, 2020 | July 31, 2020 | June 30, 2020 | |||||||||||||||
| U.S. Consumer Card Member loans: | |||||||||||||||||
Total loans | $ | 50.0 | $ | 50.0 | $ | 50.3 | |||||||||||
30 days past due loans as a % of total (a) | 1.2 | % | 1.4 | % | 1.5 | % | |||||||||||
Average loans | $ | 50.0 | $ | 50.1 | $ | 50.3 | |||||||||||
Net write-off rate – principal only (b) | 2.5 | % | 2.6 | % | 2.6 | % | |||||||||||
| U.S. Small Business Card Member loans: | |||||||||||||||||
Total loans | $ | 11.6 | $ | 11.7 | $ | 11.7 | |||||||||||
30 days past due loans as a % of total (a) | 1.2 | % | 1.4 | % | 1.6 | % | |||||||||||
Average loans | $ | 11.7 | $ | 11.7 | $ | 11.9 | |||||||||||
Net write-off rate – principal only (b) | 2.4 | % | 2.5 | % | 2.4 | % | |||||||||||
Total Card Member loans – U.S. Consumer and U.S. Small Business | $ | 61.6 | $ | 61.7 | $ | 62.0 | |||||||||||
| (a) | During the first quarter 2020, the Company created a Customer Pandemic Relief Program for customers impacted by COVID-19. Delinquency status is generally frozen at enrollment, and loans that are current at enrollment do not age, regardless of whether payment is made. Upon exiting the program, delinquency aging resumes where it had left off at enrollment. The Company closed the Customer Pandemic Relief Program for new enrollees in the United States as of June 2020. | ||||
| (b) | Net write-off rate based on principal only (i.e., excluding interest and/or fees). | ||||
August 1, 2020 through August 31, 2020 | July 1, 2020 through July 31, 2020 | June 1, 2020 through June 30, 2020 | |||||||||||||||
| Ending total principal balance | $ | 24.3 | $ | 24.4 | $ | 24.5 | |||||||||||
| Defaulted amount | $ | 0.05 | $ | 0.05 | $ | 0.05 | |||||||||||
| Annualized default rate, net of recoveries | 1.9 | % | 1.9 | % | 1.8 | % | |||||||||||
Total 30+ days delinquent (a) | $ | 0.2 | $ | 0.2 | $ | 0.3 | |||||||||||
| (a) | Refer to footnote (a) above. | ||||
| AMERICAN EXPRESS COMPANY | ||||||||
| (REGISTRANT) | ||||||||
| By: | /s/ Kristina V. Fink | |||||||
| Name: Kristina V. Fink | ||||||||
| Title: Deputy Corporate Secretary | ||||||||
Document and Entity Information |
Sep. 15, 2020 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Sep. 15, 2020 |
| Entity Registrant Name | AMERICAN EXPRESS CO |
| Entity Central Index Key | 0000004962 |
| Amendment Flag | false |
| Entity Incorporation, State or Country Code | NY |
| Entity File Number | 1-7657 |
| Entity Tax Identification Number | 13-4922250 |
| Entity Address, Address Line One | 200 Vesey Street |
| Entity Address, City or Town | New York |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 10285 |
| City Area Code | 212 |
| Local Phone Number | 640-2000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Shares (par value $0.20 per Share) |
| Trading Symbol | AXP |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
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