American Express (AXP) said in a filing Thursday that the net write-off rate for its US consumer card member loans declined to 2% in April from 2.4% in March.

The net write-off rate for US small business card member loans declined to 2.4% in April from 2.6% in March, the company said.

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

Total US-based consumer and small business card member loans increased to $122.3 billion in April from $121.3 billion in March, the company said.

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