Fitch's US Credit Card Index Shows Chargeoffs Up to a Record 8.41%

Tags » Card Issuers, Consumer Debt, Credit Card Debt Counseling, Credit Cards » Comments (0)

Credit card delinquencies and chargeoffs breached record levels last month as consumer credit quality deteriorated further in the worsening economic environment according to the latest Fitch Credit Card Index results. Despite the results, portfolio yields increased and excess spread levels remained robust, as remedial actions by credit card issuers are providing investors with a cushion against future losses and early amortization. READ MORE

Headline News - April 3, 2009

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