Credit Card Companies Report Reductions in Charge-Offs

Headline Alert

Credit Card Charge-off Update

Major U.S. credit card charge-off data for April:

American Express (AXP):

• Net Charge-offs: Down -0.20% (second straight month)
  
• Total Delinquencies: Down -0.17% (second straight month)

Bank of America (BAC):

• Net Charge-offs: Up 0.07% (first increase in 7 months)
  
• Total Delinquencies: Down -0.30% (seventh straight month)

Citi (C):

• Net Charge-offs: Down -0.04% (second straight month)
  
• Total Delinquencies: Down -0.34% (thirteenth straight month)

Capital One (COF):

• Net Charge-offs: Down -0.90% (fifth straight month)
  
• Total Delinquencies: Down -0.18% (fifteenth straight month)

Discover (DFS):

• Net Charge-offs: Down -0.16% (second straight month)
  
• Total Delinquencies: Down -0.27% (fifteenth straight month)

JPMorgan Chase (JPM):

• Net Charge-offs: Down -0.42% (second straight month)
  
• Total Delinquencies: Down -0.22% (sixteenth straight month)

 

  American Express Last 12 Months

 

  Bank of America Last 12 Months

 

  JPMorgan Last 12 Months

 

  Capital One Last 12 Months

 

Disclosure: Mr. Moenning or related companies hold positions in the following stocks mentioned: AXP, COF

 

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