Discover Reports 6% Increase in US Card Sales Volume
Discover Financial Services has announced its financial results for the fourth quarter of 2007 reporting that its U.S. Card managed loans reached $48.2 billion, up 5% from last year driven by a 6% increase in credit card sales volume. Discover says that its "U.S. Card credit quality remained strong, although delinquency rates increased from last quarter reflecting weakening in the U.S. economy. The fourth quarter managed credit card net charge-off rate was 3.84% and the 30+ days delinquency rate was 3.59%."
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