Credit card delinquency rates payments late by 30 days or more fell in May at all of the six largest US credit card issuers, boosting hopes that cardholders are regaining control of their debt repayments.
Citi reported the biggest delinquency rate drop, down by 60 basis points from 9.02% in April to 8.42%
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Citis cards write-off rate also fell in May, by 7 basis points from 11.23% to 11.16%.
Capital One cardholders at least 30 days behind on their payments fell by 27 basis points to 4.8% while its charge-offs ratio fell by 20 basis points to 9.48%
Amex cardholders at least a month late in making a card repayment fell by 20 basis points to 2.9% while its charge-off rate fell by 40 basis points to 6.3%.
Bank of America reported a 34 basis point fall in its delinquency rate from 6.73% in April to 6.39% but its write-off rate the highest of its peer group rose by 62 basis points in April to 13.33% in May.
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By GlobalDataAt JPMorgan Chase, the write-off and delinquency rates both fell, by 8 basis points and 18 basis points to 8.95% and 4.22% respectively.
