Charge-offs and delinquencies at the 14
largest US credit card issuers have hit a 14 month low.
Monthly data from investment bank Keefe,
Bruyette & Woods (KBW) shows that average industry charge-offs
fell by 75 basis points in September to 7.9%.
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Delinquencies – loans 30 days past their due
date payment – fell by 2 basis points in September to 4.61%.
KBW said that year-on-year, the average
charge-off and delinquency rates had fallen by 169 basis points and
109 basis points respectively.
KBW’s figures include data provided by
American Express, Bank of America, Capital One, JPMorgan Chase,
Citibank and Discover.
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