Defying Forecasts Late Stage Delinquency is Moderate
The average late stage U.S. credit card delinquency (90+ day) among the nation’s top four issuers edged down 1 basis points (bps) sequentially, but up 5 bps year-on-year (YOY) for the first quarter (1Q/16). Early stage delinquency, the precursor of 90+ day delinquency, among the peer group, also declined in 1Q/16. For the Top 4 U.S.…