Credit card delinquencies back on the rise

  • 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.
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