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More credit card defaults at American Express
CommentsAmerican Express Co. said in a regulatory filing Monday that its credit card defaults and delinquencies have risen over the past three months.
The card company’s write-off rate rose to 8.7 percent in February, up from 8.3 percent in January and 7.5 percent in December, it said in a filing with the Securities and Exchange Commission. It said the rate of loans 30 days past due rose to 5.3 percent in February, up from 5.1 percent in January and 4.7 percent in December.
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