Delinquencies On The Rise; Warning Signs Of Problem Credit Card Usage

Bread, Discover, and JPMorgan Chase Report Higher Credit Card Fraud

Three companies saw higher delinquency on their credit cards and charge-off rates increase in February. Bread Financial, Discover and JPMorgan Chase reported in a recent press release and SEC filings that the numbers for this February were higher than those for any previous month and year before. Bread Financial said its delinquency rate was 6.0% in February, up from 5.8% in January and 4.4% in February 2022. Discover also saw higher rates. Its credit card delinquency rate stood at 2.74% in February, up from 2.67% in January and 1.79% in February 2022. JPMorgan Chase said its credit card delinquent rate was 0.88% in February, higher than 0.83 % seen in January and 0.72%. % recorded in February 2022. [PYMNTS]

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