The 30+ day delinquency rate (not seasonally adjusted) for the top 100 U.S. banks increased 16 basis points (bps) sequentially, but down 7 bps from one-year ago. Among the nation’s top four card issuers, delinquency edged up by 15 bps from the prior quarter, but dropped year-on-year (YOY) by eight bps.
According to the Federal Reserve the top 100 U.S. banks posted a 30+ day delinquency rate of 2.11% for Q3/15, compared to 1.95% in Q2/15, and 2.18% for Q3/14.
According to CardData, the average early stage delinquency ratio among the nation’s top four issuers was 1.98% for 3Q/15, compared to 1.83% in the prior quarter, and 2.06% from one-year ago.
All four of the top four issuers reported upticks in the 30+ day delinquency ratio including Chase, Capital One (COF), Citibank (CITI), and Bank of America (BofA), compared to the prior quarter.
COF delinquency soared by 44 bps from the prior quarter.
The Chase 30+ day delinquency rate increased 9 bps sequentially, but down 5 bps from one-year ago.
The BofA 30+ day delinquency rate increased 3 bps sequentially, but down 20 bps from one-year ago.
The COF 30+ day delinquency rate increased 44 bps sequentially, and up 7 bps from one-year ago.
The CITI 30+ day delinquency rate increased 5 bps sequentially, but down 14 bps from one-year ago.
TOP 100 U.S. ISSUER AVERAGE
BIG 4 U.S ISSUER AVERAGE
CHASE 30+ DELINQUENCY
BOFA 30+ DELINQUENCY
CAPITAL ONE 30+ DELINQUENCY
CITIBANK 30+ DELINQUENCY
Source: Federal Reserve; CardDaya; Chase; Bank of America; Capital One; Citibank
For data, background and forecasts on U.S. Credit Card Delinquency: 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].
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