Credit card delinquency (30+ days) for the fourth quarter (4Q/18), among the nation’s Top 4 issuers, increased 13 basis points (bps) sequentially, and edged up year-on-year (YOY) by 16 bps.
According to CardData, the average rate among the top four issuers (Chase, Capital One, Bank of America, Citibank) was 2.40% for 4Q/18, compared to 2.27% for 3Q/18 and 2.34% for 4Q/17.
The uptick in credit card delinquency, coupled with a recession forecast, is loan-loss reserves increasing, the metrics are expected to rise throughout 2019, according to RAM Research.
The nation’s largest issuer, Chase, reported delinquency increased to 1.83% in 4Q/18, compared to 1.75% for 3Q/18 and 1.80% for 4Q/17, a 3 bps gain YOY.
Capital One Delinquency
The nation’s fastest growing issuer, Capital One, reported delinquency rose to 4.04% in 4Q/18, compared to 3.80% for 3Q/18 and 4.01% for 4Q/17, an 3 bps increase YOY.
The nation’s third largest issuer, BofA, reported delinquency increased to 2.02% in 4Q/18, compared to 1.90% for 3Q/18 and 1.92% for 4Q/17, an 10 bps gain YOY.
The nation’s fourth largest issuer, Citibank, reported delinquency increased to 1.70% in 4Q/18, compared to a revised 1.62% for 3Q/18 and 1.62% for 4Q/17, an 8 bps increase YOY.
TOP 4 U.S ISSUER AVERAGE
CHASE 30+ DELINQUENCY
BOFA 30+ DELINQUENCY
CAPITAL ONE U.S. 30+ DELINQUENCY
CITIBANK 30+ DELINQUENCY
Source: Chase; BofA; Capital One; Citibank; RAM Research; CardData