Just how resilient is the American consumer? It’s a key question facing the Federal Reserve. As Bloomberg News reported Sunday (Oct. 29), officials from the U.S. central bank will hold a two-day policy meeting this week, where they are determined to keep interest rates between 5.25% to 5.5%,...
As 2023 winds down, Discover is eyeing 2024 and its increasing charge-off rate. “So what we’ve said previously is we expect charge-offs to peak sometime around the midpoint of the year to the second half of the year, in the second half of 2024,” Chief Financial Officer John...
Credit card delinquencies increased for three consecutive months, adding to signs that consumers in the U.S. are having a tough time paying their debt. According to a news report in Reuters, credit card data from the likes of JPMorgan and Discover Financial Services on Monday...
November 19, 2023
Last month’s credit card data indicates an ongoing deterioration of credit quality. That’s according to a report Sunday (Nov. 19) by Seeking Alpha, which says a survey of last month’s card metrics shows the average card delinquency rate slightly below pre-pandemic levels, while the average charge-off rate has climbed above 2019 levels. “October card results […]
October 29, 2023
Just how resilient is the American consumer? It’s a key question facing the Federal Reserve. As Bloomberg News reported Sunday (Oct. 29), officials from the U.S. central bank will hold a two-day policy...
October 19, 2023
As 2023 winds down, Discover is eyeing 2024 and its increasing charge-off rate. “So what we’ve said previously is we expect charge-offs to peak sometime around the midpoint of the year to...
October 17, 2017
Credit card delinquencies increased for three consecutive months, adding to signs that consumers in the U.S. are having a tough time paying their debt. According to a news report in...
