American Express Q3 net write-off rate 1.6% on US consumer cards, 2.3% on small business

American Express reported a Q3 net write-off rate of 1.6% on US consumer cards and 2.3% on small business cards, both improving from July levels. 30-day delinquencies held at 1.2% for consumer and 1.4% for small business. The Lending Trust annualized default rate was 1.0% in September.