trending Market Intelligence /marketintelligence/en/news-insights/trending/beilmrwdlefots1e8cmr7g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Delinquencies, charge-offs edge up at card issuers in February

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

Delinquencies, charge-offs edge up at card issuers in February

Major card issuers mostly saw slightly worsening credit trends in February as delinquencies and charge-offs were, on the whole, higher for the month.

American Express Co.'s delinquency rate increased by 4 basis points to 1.05%, while Bank of America Corp.'s delinquency rate edged up by 2 basis points to 1.72%. Discover Financial Services and JPMorgan Chase & Co. saw their delinquency rates tick up by 3 basis points each to 1.84% and 1.24%, respectively.

Delinquency rates of Capital One Financial Corp. and Citigroup Inc., on the other hand, dropped by 2 basis points each to 2.08% and 1.58%, respectively.

SNL Image

Charge-off rates among major card issuers remained mixed in the month. American Express' charge-off rate jumped by 54 basis points to 1.82%, and Citi's spiked by 40 basis points to 2.57%. Bank of America's charge-off rate climbed by 20 basis points to 2.78% and Discover's ticked up by 2 basis points to 2.19%.

Capital One's charge-off rate remained flat at 2.26%, while JPMorgan's declined by 12 basis points to 2.28%.

SNL Image

American Express and Capital One also provide delinquency and charge-off statistics for certain segments within their card businesses.

For American Express' U.S. consumer services segment, the net write-off rate, based on principal only, increased to 2.2% in February from 1.7% in January, while the delinquency rate for the segment remained flat at 1.4%.

The net write-off rate in the U.S. small-business segment, based on principal only, jumped to 1.7% from 1.4%. The delinquency rate for the U.S. small-business segment worsened slightly, rising to 1.4% from 1.3%.

Capital One's domestic card segment had a 30-plus-day performing delinquency rate of 3.92% in February. The annualized net charge-off rate for the segment was 5.16%.

Five of the six major card issuers recorded month-over-month increases in their portfolio yields.

American Express' portfolio yield increased to 23.81% from 22.13%, Capital One's rose to 20.90% from 20.25%, Citigroup's portfolio yield moved to 18.02% from 17.70%, Discover's climbed to 18.58% from 17.58% and JPMorgan's portfolio yield increased to 19.43% from 17.18% in February.

Bank of America was the only issuer whose portfolio yield declined, falling to 15.39% from 15.66%.

SNL Image

SNL Image

Did you enjoy this analysis? Click here to set alerts for future Data Dispatches.

Click here for the underlying data for credit card master trust yields, net charge-offs and delinquencies.

The monthly performance of the trust is reported in the 10-D filing, which can be accessed under the Documents section of a company's briefing book page on the S&P Global Market Intelligence platform.

S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.