JPMorgan Chase , Bank of America – Have Credit Card Delinquencies Peaked?
Category Featured, Finance | Sunday, April 18th, 2010
Credit Card
JPMorgan Chase and Bank of America, the top two general-purpose credit card issuers, reported improved outlooks for their card divisions in first-quarter reports, including a possible peaking in delinquencies, a trend generally reflective of the industry.
But concerns remain as charge-offs are still elevated from credit card loans deemed uncollectible at 180 days late. Those stem from delinquencies that first registered in the second half of last year. An account 30 days late qualifies as delinquent.