As 2023 winds down, Discover is eyeing 2024 and its increasing charge-off rate. “So what we’ve said previously is we expect charge-offs to peak sometime around the midpoint of the year to the second half of the year, in the second half of 2024,” Chief Financial Officer John...
Consumers are spending more on their cards — and delinquency rates are creeping up. To that end, Capital One’s company materials show that the allowance for losses in its credit card portfolio was just under $11 billion, representing a 7.7% ratio, up from the 6.7% seen a...
October 27, 2023
In the parlance of these times, and as earnings season commentary has pointed out, time and again: Consumer credit is normalizing. The question remains, however, as to what comes next. The slew of reports from the banks and the card companies have taken note of the fact that delinquency rates are on the rise, though […]
October 19, 2023
As 2023 winds down, Discover is eyeing 2024 and its increasing charge-off rate. “So what we’ve said previously is we expect charge-offs to peak sometime around the midpoint of the year to the second half of the year, in the second half of 2024,” Chief Financial Officer John Greene said during an earnings call Thursday (Oct. 19). “So if we […]
