Major Banks’ Credit Card Charge Off and Delinquency Rates Unchanged in November

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Patrick Lunsford December 16, 2011 4 Responses http://www.insidearm.com/daily/credit-card-accounts-receivable/credit-card-receivables/major-banks-credit-card-charge-off-and-delinquency-rates-unchanged-in-november/

The average charge-off and delinquency rates among five of the largest U.S. credit card issuers was unchanged in November, according to documents filed Thursday with the SEC.

There was a little movement individually in the performance reports of the master credit card trusts of Bank of America, Capital One, Chase, Citi, and Discover. But the small changes cancelled out and the averages among the banks remained unchanged in November compared to October.

The average credit card net chargeoff rate among the five was 4.51 percent, down from 8.08 percent a year ago.

Meanwhile, the average delinquency rate among credit cards was 3.14 percent, also unchanged from October, but down from 4.53 percent in November 2010.

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