Credit-card delinquencies continued to climb to near record highs last month, Fitch says, up...

|By:, SA News Editor

Credit-card delinquencies continued to climb to near record highs last month, Fitch says, up 19bps to 4.41%. "Consumer credit quality remains under significant strain as a result of the persistent weakness in the labor markets." Chargeoffs fell 66bps to 10.09%, the third straight improvment, but the trend will likely be short lived "given the recent delinquency trends," Fitch says.