Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Newly Delinquent Card Loans Approach Record Lows, Moody’s Says

Dec. 22 (Bloomberg) -- U.S. credit-card delinquencies fell in November to the lowest in almost three years as the six biggest issuers posted improved numbers, according to Moody’s Investors Service.

Loans at least 30 days overdue, a signal of future write-offs, dropped for the 13th consecutive month to 4.38 percent, the lowest since December 2007, Moody’s said today in a report. Loans delinquent 30 to 59 days, the earliest sign of trouble, declined to 1.14 percent, near an all-time low. Write-offs for loans deemed uncollectible, a lagging indicator, fell to 8.58 percent from October’s 8.79 percent.

The drop in new delinquencies bolsters the firm’s “expectation that charge-offs will ultimately break below the 7 percent mark later in 2011,” Jeffrey Hibbs, a Moody’s analyst, wrote in the report.

The top six U.S. credit-card issuers, including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., all reported lower delinquencies for November in regulatory filings earlier this month. Write-offs climbed at JPMorgan and McLean, Virginia-based Capital One Financial Corp. They fell at the other four, including American Express Co. and Discover Financial Services, based in Riverwoods, Illinois.

To contact the reporter on this story: Peter Eichenbaum in New York at

To contact the editor responsible for this story: David Scheer at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.