Four major credit card issuers saw their delinquencies jump in November.
Delinquency rates at American Express Co., Bank of America Corp. and Discover Financial Services increased 3 basis points each to 1.00%, 1.64% and 1.72%, respectively. Citigroup Inc.'s delinquency rate ticked up 1 basis point to 1.58%.
Delinquencies at Capital One Financial Corp. and JPMorgan Chase & Co. decreased in the month, with Capital One's delinquency rate decreasing 1 basis point to 2.11% and JPMorgan's declining 2 basis points to 1.22%.
Charge-off rates declined for two of the six major card issuers.
American Express' charge-off rate decreased 1 basis point to 1.34%, and Discover's charge-off rate dropped 2 basis points to 2.16%.
Bank of America's charge-off rate increased 35 basis points to 2.74%, Capital One's charge-off rate increased 22 basis points to 2.30% and Citigroup's charge-off rate moved 11 basis points higher to 2.49%. The charge-off rate of JPMorgan ticked up 1 basis point to 2.36%.
American Express and Capital One also provided 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 1.9% in November, from 1.8% in October. The delinquency rate for the segment remained steady at 1.3%. The net write-off rate in the U.S. small-business segment, based on principal only, remained flat at 1.6% in the month. Meanwhile, the delinquency rate for the U.S. small-business segment rose to 1.2%.
Capital One's domestic card segment had a 30-plus-day performing delinquency rate of 4.11% in November, while the annualized net charge-off rate for the segment was 5.16%.
Portfolio yields of four major card issuers decreased in November.
Bank of America's portfolio yield decreased to 15.79% from 15.88%, while Capital One's declined to 21.30% from 21.41%. Citigroup's portfolio yield dropped to 17.74% from 18.92%, and Discover's portfolio yield decreased to 18.81% from 19.06%.
American Express' portfolio yield increased to 22.16% from 21.06%, and JPMorgan's portfolio yield edged up to 19.09% from 18.78%.
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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 SNL website.