Average early stage delinquency (30+ days) for the first quarter (1Q/17), among the nation’s Top 4 issuers, decreased 5 basis points (bps) sequentially, but rose year-on-year (YOY) by 24 bps, according to CardData.
Citibank and Capital One posted small downticks in 1Q/17. Citi is skewed by its rapidly growing outstandings from the acquisition of the American Express/Costco cobrand deal. Cap One is somewhat skewed by first quarter seasonality and 37% of its portfolio scoring less than 660 FICO.
The nation’s largest issuer, Chase, reported delinquency increased to 1.66% in 1Q/17, compared to 1.61% for 4Q/16 and 1.45% for 1Q/16, an 21 bps gain YOY.
The nation’s third largest issuer, BofA, reported delinquency increased to 1.78% in 1Q/17, compared to 1.73% for 4Q/16 and 1.68% for 1Q/16, a 10 bps gain YOY.
The nation’s fastest growing issuer, Capital One, reported delinquency dipped to 3.71% in 1Q/17, compared to 3.95% for 4Q/16 and 3.09% for 1Q/16, an 62 bps rise YOY.
The nation’s fourth largest issuer, Citibank, reported delinquency decreased to 1.62% in 1Q/17, compared to 1.67% for 4Q/16 and 1.58% for 1Q/16, a 4 bps increase YOY.