JPM - Credit card delinquency rate stays roughly stable in January charge-offs improve

20212020 CompanyTickerTypeJanuaryDecemberNovember3-month averageCapital One[[COF]]delinquency2.49%2.41%2.29%2.40%  charge-off2.54%2.42%2.57%2.51%American Express[[AXP]]delinquency1.00%1.00%1.00%1.00%  charge-off1.30%1.60%1.90%1.60%JPMorgan[[JPM]]delinquency0.99%0.99%1.02%1.00%  charge-off1.97%1.70%1.59%1.75%Synchrony[[SYF]]core delinquency3.20%3.10%3.00%3.10%  adjusted charge-off3.10%3.10%3.10%3.10%Discover Financial[[DFS]]delinquency2.08%2.07%2.03%2.06%  charge-off2.57%2.45%2.55%2.52%Alliance Data Systems[[ADS]]delinquency4.30%4.40%5.00%4.57%  charge-off4.60%8.70%5.20%6.17%Citigroup[[C]]delinquency1.38%1.36%1.82%1.52%  charge-off2.01%2.11%2.57%2.23%Bank of America[[BAC]]delinquency1.55%1.50%1.46%1.50%  charge-off1.50%1.67%1.50%1.56%  Avg. delinquency2.12%2.10%2.20%2.14%  Avg. charge-off2.45%2.97%2.62%2.68%Keep in mind that many credit card issuers still have forbearance programs in place for customers affected by the COVID-19 pandemic. Accounts under such programs don't progress to the next delinquency phase, and eventually to charge-off, in the same timeframe they would had they not been granted forbearance.Thus, effects of the pandemic on delinquency and charge-off rates may be muted until those accounts roll out of the customer relief programs.

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Credit card delinquency rate stays roughly stable in January, charge-offs improve