SYF - Credit card delinquency rate edges up in September net charge-offs stay low

Consumers may be waiting a little longer to pay their credit card bills in September, according to Seeking Alpha's compilation of credit card metrics. The average delinquency rate of seven credit card issuers increased to 1.60% from 1.52% in August. That's still a strong number, though, as the average was 2.04% in September 2020. The average net charge-off rate was 1.48%, an improvement from 1.84% in August. Much of that decline came from Alliance Data Systems (NYSE:ADS), which saw its net charge-off rate drop to 3.5% from 4.0%. Excluding ADS from the average, the rate would fall to 1.14% from 1.17%.       2021   Company Ticker Type Sept. Aug. July 3-month average Capital One COF delinquency 1.93% 1.79% 1.71% 1.81%     charge-off 1.09% 1.54% 1.45% 1.36% American Express AXP delinquency 0.70% 0.60% 0.60% 0.63%     charge-off 0.40% 0.60% 0.70% 0.57% JPMorgan JPM delinquency 0.64% 0.62% 0.64%

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Credit card delinquency rate edges up in September, net charge-offs stay low