Posted by CreditCardGuru
Last week we reported that credit card debt is declining in America. The numbers for July have recently been released and show continued improvement in the number of unpaid accounts. The latest figures for net loss are as follows:
American Express: 10.18% down to 8.92%
Bank of America: 13.86% to 13.81%
Capital One: 8.82% to 8.78%
Chase: 8.04% to 7.92%
Citibank: 10.51% to 10.03%
Discover: 8.75% to 8.43%
However it’s important to note that while the above numbers reflect the net loss, the number of accounts which were 30-59 days late did go up slightly for some issuers. Also these were based off figures from a Credit Suisse report. There have been other reports (such as Capital One’s regulatory filing on the 17th) which differ.
What do you think… are things improving or is it just accounting tricks?
Tags: credit card, credit crunch
Posted in News | Comments (3)
August 23rd, 2009 at 12:05 am
accounting gimmicks!
August 24th, 2009 at 1:41 am
Things are improving but can it keep at it?
August 25th, 2009 at 5:59 pm
That is as long as we don’t have a double dip recession. That’s what everyone is saying could be a possibility. They say it’s a 50/50 chance.