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Credit card data hints at U.S. consumer rebound

06:04, 1969-Dec-31 .. 0 comments .. Link

Credit card data hints at U.S. consumer rebound Credit card data hints at U.S. consumer rebound (Reuters) - Credit card delinquency rates improved at JPMorgan Chase & Co#x and a majority of others Fish oil softgel-- a sign the lenders still face hurdles in the wake of the deep recession.

The delinquency rates likely received a seasonal boost, but nonetheless signal the card issuers are less likely to have to write off bad loans in the future. Charge-offs are loans the companies do not expect to be repaid.

The data build on similar figures in January and December, suggesting U.S. consumers may be clawing out of the recession brought on by the 2008-2009 financial crisis.

"Clearly the delinquency trends are improving, and they have been for the last couple months. The question is, particularly in February, how much of it is a seasonal benefit," said Michael Taiano, analyst at Sandler O'Neill.

Consumers tend to use cash from tax returns or year-end bonuses to pay down credit card debt Fish oil softgelthis time of year, reflected in lower delinquencies, the analyst noted. "It's hard to tease out now much of an impact that is," he added.

Capital One Financial Corp reported the sharpest drop in delinquency rates from January to February, while American Express Co's rate was unchanged and Citigroup's rate rose, according to regulatory filings on Monday.

Capital One and JPMorgan Chase reported lower charge-off rates,Mold, while the other four companies reported higher rates. Citigroup was alone in logging a sequential rise in both monthly delinquencies and charge-offs.

"Although the increase in net losses has leveled off somewhat in recent months, the absolute level of credit losses remains near the top end of the industry's historical range," Collins Stewart analyst Todd Hagerman wrote in a note.

Shares of the lendersFish oil softgel were mixed, as details of a U.S. Senate#x plan to revamp financial regulation pressured the broader sector. 相关的主题文章：