Early stage delinquency (30+ days) among the nation’s top 6 issuers rose sharply by 26 basis points (bps) year-on-year (YOY) in the first quarter (1Q/17), according to CardData.
For 1Q/17 the nation’s largest issuers posted an average delinquency ratio of 2.01%, compared to 2.02% in the prior quarter, and 1.75% one-year ago.
Four of the Big 6, including Chase, Bank of America, American Express, and Discover, posted higher or flat 30+ day delinquency in 1Q/17. Capital One and Citi were the only issuers to report a slight downtick.
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 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.
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.
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.
American Express’ 30+ day U.S. credit card delinquency ratio for 1Q/17 inched up 1.20%, compared to 1.10% in the previous quarter, and 1.00% for 1Q/16.
Discover reported 30+ day delinquency increased to 2.06% in 1Q/17, compared to 2.04% for 4Q/16 and 1.68% for 1Q/16, an increase of 2 bps sequentially.
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