Seeking Alpha

Big drop in bank card delinquencies in Q1

  • "Bank card delinquencies remain at surprisingly low levels even as credit card spending increases,” says the American Bankers Association chief economist James Chessen. "More and more consumers are using their credit cards as a payment vehicle, paying off or paying down their balances each month.”
  • Bank card delinquencies of 2.44% in Q1 fell a big 16 basis points from the previous quarter, and continue far below the 15-year average of 3.82%.
  • The composite ratio which tracks delinquencies in eight closed-end installmant loan categories edged up four basis points to 1.63% of all accounts. The 15-year average is 2.33%.
  • With the numbers so low, Chessen isn't calling for further improvement, but instead fluctuations around the current figures.
  • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, SEF, IYG, FXO, FNCL, FINU, RWW, RYF, FINZ
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs