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