Credit card delinquencies back on the rise
Sep. 20, 2017 9:33 AM ETCapital One Financial Corporation (COF)COF, SYF, BFHBy: Stephen Alpher, SA News Editor12 Comments
- Loans more than 30 days delinquent at Capital One (NYSE:COF) rose to 4% of total loans in August vs. 3.5% four months earlier; at Synchrony Financial (NYSE:SYF), they rose to 4.5% from 4.1%; at Alliance Data (NYSE:ADS), to 5.3% from 4.7%.
- The absolute levels aren't that bad, but they are the highest in years, and the trend represents a reversal from the spring, when delinquency rates crept lower. One also wonders why delinquency rates are rising when the labor market is so strong.