Earnings season begins anew in just a few weeks, documenting the first few months of the year — and how the March quarter shaped up for all manner of enterprises. And for the payment networks, for the banks too, there may be some headwinds in...
Credit card delinquencies fell slightly last month while net charge-offs continued with their upward trajectory. That’s according to a report Monday (March 25) by Seeking Alpha, citing data from eight lenders. It showed that the average delinquency rate of 3.20% rose from 3.24% in January and 2.59%...
Both American Express and Bank of America saw credit card delinquencies climb last month. According to a recent Securities and Exchange Commission filing, American Express’ delinquency rate rose from 1.3% in October to 1.4% at the end of November, a figure that’s still below pre-pandemic levels. Bank of America, meanwhile, reported...
The delinquency rate in Capital One’s domestic card business continued to rise in the third quarter and has returned to its pre-pandemic level. The 30-day performing delinquency rate in the domestic card business was 4.3% during the quarter ended Sept. 30, up from 3.7% in the...
February 21, 2023
If missed bill payments indicate consumers’ lacking economic security, we may be in for a bumpy ride. Last week’s news about January’s consumer spending sharply up from the previous month was a welcome change after seemingly endless gloomy economic forecasts. However, any celebrating may have been premature once disclosures about how consumers are paying for these purchases were also […]
October 26, 2022
Every earnings season tells a tale. So far the storyline is that consumers remain buoyant, are still willing to open their wallets and wield credit cards to get what they...
April 29, 2024
Credit card delinquency rates fell last month as consumers continued to spend. As Seeking Alpha reported Sunday (April 28), the average delinquency rate dipped from 3.09% in February to 2.92% in March, though it has risen from 2.49% a year ago. The average is still higher than the pre pandemic 2.76% recorded in March 2019. […]
March 25, 2024
Credit card delinquencies fell slightly last month while net charge-offs continued with their upward trajectory. That’s according to a report Monday (March 25) by Seeking Alpha, citing data from eight...
December 17, 2023
Both American Express and Bank of America saw credit card delinquencies climb last month. According to a recent Securities and Exchange Commission filing, American Express’ delinquency rate rose from 1.3% in October to 1.4% at...
October 26, 2023
The delinquency rate in Capital One’s domestic card business continued to rise in the third quarter and has returned to its pre-pandemic level. The 30-day performing delinquency rate in the domestic...
