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Bank of America and JPMorgan Chase Report Rising Delinquencies
https://www.pymnts.com ^ | FEBRUARY 15, 2023 | BY PYMNTS

Posted on 02/18/2023 9:13:44 PM PST by RomanSoldier19

The two largest banks in the U.S. have reported rising delinquency rates on their credit cards.

Both Bank of America and JPMorgan Chase said in filings with the Securities and Exchange Commission (SEC) that their delinquency rates rose in January, two days after Discover Financial did the same.

Bank of America reported that from December to January, its Master Credit Card Trust II’s delinquency rate rose from 1.03% to 1.09% and its net charge-off rate increased from 1.43% to 1.50%.

JPMorgan Chase said that during those same months, its credit card delinquency rate rose from 0.76% to 0.83% but its net charge-off rate dipped from 1.24% to 1.17%, Seeking Alpha reported Wednesday.

This news came two days after Discover Financial reported that its credit card delinquency rate has been rising each month since May 2022 — reaching 2.67% in January — and its net charge-off rate was the highest it had seen since February 2021 as it hit 2.81% in January.

Other organizations recently reported that they’re seeing rising delinquencies among subprime and near-prime borrowers.

(Excerpt) Read more at pymnts.com ...


TOPICS: News/Current Events
KEYWORDS: credit; delinquencies
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up to my eyeballs

link

1 posted on 02/18/2023 9:13:44 PM PST by RomanSoldier19
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To: RomanSoldier19

Fifty million illegal aliens. The gift that keeps on giving.


2 posted on 02/18/2023 9:22:34 PM PST by 4Runner
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To: RomanSoldier19

How can this be? The animated turnip in the White House says that we are enjoying a rip-roaring economy.


3 posted on 02/18/2023 9:25:06 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: RomanSoldier19

When 40% + of people with the wherewithall to even get credit cards have to use them to buy their daily necessities, it is just a matter of time before the entire credit system collapses.


4 posted on 02/18/2023 9:40:48 PM PST by LegendHasIt
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To: RomanSoldier19

Before he belonged to Xi, POTATUS belonged to the credit card industry and he made sure they got whatever they wanted,


5 posted on 02/18/2023 10:19:58 PM PST by 100%FEDUP
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To: RomanSoldier19

Dod it start after BLM rise?


6 posted on 02/19/2023 12:07:47 AM PST by Milagros (Y)
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To: LegendHasIt
When 40% + of people with the wherewithall to even get credit cards have to use them to buy their daily necessities, it is just a matter of time before the entire credit system collapses.

People will then have to use wheelbarrows to cart their credit cards to the bakery. Just like in the Weimar Republic.

Regards,

7 posted on 02/19/2023 12:30:37 AM PST by alexander_busek (Extraordinary claims require extraordinary evidence.)
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To: RomanSoldier19

BidenDepression 2023


8 posted on 02/19/2023 12:30:49 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: LegendHasIt

Yep

And Biden’s continuous lies won’t work

Except only on the terminally-stupid


9 posted on 02/19/2023 12:34:04 AM PST by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: RomanSoldier19

This is a small tick. The fact is that credit card delinquency rates are at historic lows.


10 posted on 02/19/2023 1:03:18 AM PST by Fido969 (45 is Superman! )
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To: Fido969

Here’s a chart of delinquency rates for the last 29 years:

https://fred.stlouisfed.org/series/DRCCLACBS

They were running around 4% for a long time, and have been around 2% and below for the last couple of years.


11 posted on 02/19/2023 1:06:53 AM PST by Fido969 (45 is Superman! )
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Caused by the bogus COVID lockdown.

Will these globalist banks admit to the increasing CC debt that occurred since the scamdemic?


12 posted on 02/19/2023 1:10:56 AM PST by Gene Eric (Don't be a statist!)
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To: Fido969

give it a minute

US credit card debt hit a record high as inflation leaves consumers financially stressed

https://www.usatoday.com/story/money/economy/2023/02/16/credit-card-debt-record-high-and-delinquencies-rising/11271305002/


13 posted on 02/19/2023 1:20:53 AM PST by RomanSoldier19 (Res ad Triarios venit;“We are your ghosts, in this game played by monkeys, organized by lunatics” )
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To: RomanSoldier19

Adjusted for inflation, it’s less than it was in 2019.


14 posted on 02/19/2023 1:24:14 AM PST by Fido969 (45 is Superman! )
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To: Fido969

isnt 20% inflationthe point


15 posted on 02/19/2023 1:25:17 AM PST by RomanSoldier19 (Res ad Triarios venit;“We are your ghosts, in this game played by monkeys, organized by lunatics” )
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To: 100%FEDUP

The didn’t call him the Senator from MBNA for nothing.

This may be just the trigger that President Alzheimers needs to send him to the bottom.


16 posted on 02/19/2023 2:02:03 AM PST by Laslo Fripp (Semper Fidelis)
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To: RomanSoldier19

Delinquincies are climbing for credit cards (unsecured loans) and car loans.

Delinquency rate for mortgage loans on the rise
https://www.mpamag.com/us/mortgage-industry/market-updates/delinquency-rate-for-mortgage-loans-on-the-rise-mba/436766


17 posted on 02/19/2023 2:14:41 AM PST by Tom Tetroxide
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To: 4Runner

I think it’s more that people have been financing inflation


18 posted on 02/19/2023 2:15:41 AM PST by rottweiller_inc (inter canem et lupum)
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To: Tom Tetroxide

San Francisco Bay Area Housing Market Crashes, Prices Plunge 35% from Crazy Peak: Where’s Demand Supposed to Come From?
https://wolfstreet.com/2023/02/17/san-francisco-bay-area-housing-market-crashes-prices-plunge-35-from-crazy-peak-where-is-demand-supposed-to-come-from/

Where Households Are on their Credit Card Balances, Credit Limits, Available Credit, Delinquencies, and Collections
https://wolfstreet.com/2023/02/16/where-households-ended-up-with-their-credit-in-q4-credit-card-balances-credit-limits-available-credit-delinquencies-collections/


19 posted on 02/19/2023 2:30:45 AM PST by Tom Tetroxide
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To: RomanSoldier19

Shocking Report Shows a Massive Wave of Delinquencies is Threatening to Topple the Banks
by Steve van Metre
https://www.youtube.com/watch?v=Z1GHWzhZGlU&ab_channel=StevenVanMetre


20 posted on 02/19/2023 2:56:18 AM PST by Tom Tetroxide
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