American Express Co. said credit card defaults and late payments fell to 2009 lows last month as the lender continued to outperform competitors.

Managed net writeoffs dropped to 7.6% in November from 7.8% in October, the seventh straight monthly decline, the company said in a regulatory filing Tuesday. Loans at least 30 days overdue, a signal of future defaults, dipped to 3.9% from 4.1%.

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