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Discover Reports Financial Results for 1Q2012

Discover logo 140pxDiscover Financial Services has reported financial results for the first quarter 2012. The company said Discover card sales volume grew 7% from the prior year to $25.6 billion, primarily driven by an increase in the number of customers using their Discover card. Credit card loans increased, ending the quarter at $45.9 billion, up $1.6 billion from the prior year. The delinquency rate for credit card loans over 30 days past due declined to 2.22% and the credit card net charge-off rate declined to 3.07%, each of which were record lows.

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