Big 6 U.S. Issuer Q1 Charge-Offs Soar Topping 3% as COF Crosses 5% Threshold
Charge-offs among the nation’s top 6 issuers soared 40 basis points (bps) year-on-year (YOY) to 3.26% for the first quarter (1Q/17), and up 35 bps sequentially, according to CardData. All six issuers posted sharply higher charge-offs in the first quarter. Noteworthy: Capital One crossed the 5% threshold and American Express hit 2.0%. The Big 6…