Amex & Cap One Defaults Rise

Mogul of Pineapples · 10:38 PM

According to a couple Reuters press releases that came out today, the latest report default rates (for the month of March) raised slightly at both American Express and Capital One. At Amex it rose from 8.6% to 8.8%. But it sounds like they are slowing because the rate of accounts 30 days late actually decreased from 5.3% to 5.1%. Does that mean we have seen the worst of it?

AnthonyBarone · 11:36 AM

How the heck did Amex end up with a default rate higher than Crap One?

Floppster · 06:54 AM

Quote:

Originally Posted by AnthonyBarone

How the heck did Amex end up with a default rate higher than Crap One?

I believe that Crap One has a larger amount of their CC Holders than Amex does so 5% of 10 Million are still more than 8% of 1 Million. I hate Crap One so I canceled my Crap One over a year ago while I love Amex

.... and I am not going to cancel them

Mogul of Pineapples · 11:04 PM

I haven't heard much in the financial news about Crap One lately. How is it that they are still holding up okay when they have the riskiest lenders? You don't hear much about them having problems.

10:38 PM	#1
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	Amex & Cap One Defaults Rise According to a couple Reuters press releases that came out today, the latest report default rates (for the month of March) raised slightly at both American Express and Capital One. At Amex it rose from 8.6% to 8.8%. But it sounds like they are slowing because the rate of accounts 30 days late actually decreased from 5.3% to 5.1%. Does that mean we have seen the worst of it? __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

11:04 PM	#4
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	I haven't heard much in the financial news about Crap One lately. How is it that they are still holding up okay when they have the riskiest lenders? You don't hear much about them having problems. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

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11:36 AM	#2
AnthonyBarone Centurion Member Join Date: Apr 2008 Location: White Plains, NY Posts: 128	How the heck did Amex end up with a default rate higher than Crap One?