Charge-offs among the nation’s top 6 issuers are expected to notch upwards by 3 basis points (bps) in the third quarter expects RAM Research. Charge-offs among the nation’s top 6 issuers dropped 22 bps year-on-year (YOY) to 2.81% for the second quarter, and down 16 bps sequentially, according to CardData.
Bank of America (BofA) has done the best job of reigning in card losses, dropping 43 bps YOY.
CAPITAL ONE CHARGE-OFFS
Source: Chase; Bank of America; Capital One; Citibank; American Express: Discover; CardData
For data, background and forecasts on U.S. Credit Card Charge-Offs: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).