Charge-offs and delinquencies among the US’
largest credit card issuers reached their lowest levels in the last
14 months.
Monthly data collected by analysts at
investment bank Keefe, Bruyette & Woods showed average industry
charge-offs declined by 75 basis points (bps) last month compared
to August, falling to 7.9 percent. Delinquencies – loans which are
30 days past their due date payment – fell 2 bps to reach 4.61
percent.
The master trust data, a bellwether for the
credit card industry in the US and abroad, indicates that US
issuers remain in good shape despite regulatory and economic
headwinds. Figures produced by analysts at Keefe, Bruyette and
Woods includes all of the country’s largest issuers and showed
the average charge-off rate was 169 basis points down on the same
period last year. The total delinquency rate has declined by 109
basis points since September 2009.
KBW’s figures include data provided by
American Express, Bank of America, Capital One, JPMorgan Chase
Issuance Trust, Citibank and Discover.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData