America’s credit card companies ended December with delinquencies and charge-off rates essentially unchanged from November. And as a Monday (Jan. 29) Seeking Alpha report notes, the average rates of charge-offs and delinquencies has hovered above prepandemic levels for last past several months. Delinquencies happen when...
Americans ended 2023 dealing with increasing financial strain, relying more on personal loans. That’s according to a recent report by VantageScore, which warns that increased dependence on these loans and other higher-interest credit products could make it harder for consumers to pay their bills in the months...
Card delinquencies and charge-offs offer evidence of the struggles of meeting current obligations. They can also be a harbinger of spending slowdowns in the future. The latest data from credit card giants, disclosed in SEC filings in recent days, show that card delinquencies were on...
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...
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 need. Visa’s results Tuesday night (Oct. 25) showed double digit growth in card spend; American Express said billed business was up 30% in the most […]
April 05, 2024
Consumers’ total outstanding credit increased by $14.1 billion in February. Revolving credit accounted for $11.3 billion of the increase, while non-revolving credit made up the other $2.9 billion, the Federal Reserve said Friday (April 5) in its monthly report on outstanding consumer credit. “In February, consumer credit increased at a seasonally adjusted annual rate of 3.4 percent,” […]
January 29, 2024
America’s credit card companies ended December with delinquencies and charge-off rates essentially unchanged from November. And as a Monday (Jan. 29) Seeking Alpha report notes, the average rates of charge-offs...
January 07, 2024
Americans ended 2023 dealing with increasing financial strain, relying more on personal loans. That’s according to a recent report by VantageScore, which warns that increased dependence on these loans and...
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...
