Reading the Credit Card Delinquency Tea Leaves
In an article titled 'High-End Cards Fall From Grace', the Wall St. Journal's Robin Sidel and David Enrich report on last week's news from American Express and Capital One about increasing delinquencies in their credit card portfolios. Later this week, other major issuers will report financial results - including JP Morgan Chase, Citigroup. Another very large issuer, Bank of America, will be reporting financial results next week.
Over the weekend, the New York Times' Floyd Norris reported on last week's Federal Reserve report about the recent surge in growth in consumer revolving debt.
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