MasterCard Inc.’s fourth-quarter profit soared 41 percent as cardholders ratcheted up spending at a record pace and the company processed more payments, spurring growth in revenue. Get the full story »
Inside these posts: Credit-card delinquencies
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Credit-card delinquencies fall in November
Credit-card delinquency rates fell at major U.S. lenders in November as fewer consumers fell behind on their bill payments, signaling that they are recovering from the stress of the financial crisis.
But consumers are also avoiding racking up more debt on their credit cards, even during the holiday shopping season, in a sign that lenders will be struggling to rebuild their businesses for some time. Get the full story »
TransUnion: 2011 payment problems to drop
Consumers are expected to get better control on their mortgage and credit-card payments next year as the economy slowly improves.
Chicago-based credit reporting firm TransUnion predicts that delinquencies, or late payments, on the two biggest major forms of borrowing will drop sharply again in 2011, after substantial declines seen in the second half of this year. Get the full story »
Card delinquencies fall on lower consumer use
(Nhat V. Meyer/San Jose Mercury News/MCT)
The nation’s credit-card delinquency rate fell in the third quarter, to 0.83 percent, according to a report by Chicago-based credit reporting firm TransUnion. This represents a 9.8 percent decrease from the previous quarter in terms of borrowers whose accounts are 90 days or more delinquent, and a 24.6 percent decline from the year-ago quarter.
TransUnion also estimates that 8 million consumers stopped actively using bank-issued credit cards in the past year.
The trends stem in part from some seriously delinquent debt being classified as uncollectable, and in part by more conservative spending in lower risk segments of the population, the company said. Get the full story »
Discover late payments at lowest level of 2010
Write-offs of uncollected Discover Card balances and late payments both fell in October to their lowest levels of the year. Get the full story »
Card delinquencies fall, but recovery elusive
Fewer Americans fell behind on their credit card payments in September, but the pace of improvement slowed again, accelerating fears that banks will not recover from their consumer loan losses for years.
Shares of several major U.S. credit card lenders, including Bank of America Corp, JPMorgan Chase and Co, and Capital One Financial Corp, fell in morning trading on Friday. Get the full story »
Fewer writeoffs, late payments for Discover Card
Writeoffs of uncollectible balances fell for Discover Card in July as did late payments, signaling that consumers are getting debt payments under control.
Discover Financial Services said in a regulatory filing Monday that its net charge-offs declined to $120.9 million, or 7.28 percent in July, from 8 percent in June. Get the full story »
Credit-card delinquencies at low for year
Fewer Americans fell behind on credit card payments in June, with delinquencies at their lowest this year at major U.S. card lenders, but the results did not stem concerns about the economic recovery.
Credit card delinquency rates have declined steadily since the beginning of the year, signaling that banks should have to write off less debt as uncollectible. Get the full story »
