BIRMINGHAM, Ala. – Credit card delinquencies for five major credit card issuers increased in September, according to LowCards.com.
The increase in delinquency rates corresponds with the August and September increase in retail sales and comes after delinquencies had reached near historic lows.
Bank of America, American Express, Chase, Discover and Capital One all showed slight increases from August to September in their delinquency rate – accounts 30 or more days overdue.
Comparing September delinquency numbers with August’s:
• Bank of America’s rate increased to 3.15% from 3.11%
• American Express’s jumped to 1.3%, up from 1.2%
• Chase’s delinquency rate moved to 1.97% from 1.92%
• Discover saw its numbers go to 1.82% from 1.79%
• Capital One’s delinquency rate increased to 3.52%, up from 3.37%