SYF - Credit card metrics improve in March as consumers get stimulus checks

2021 CompanyTickerTypeMarchFeb.Jan.3-month averageCapital One[[COF]]delinquency2.24%2.45%2.49%2.39%  charge-off2.41%2.66%2.54%2.54%American Express[[AXP]]delinquency0.90%1.00%1.00%0.97%  charge-off1.10%1.40%1.30%1.27%JPMorgan[[JPM]]delinquency0.89%0.97%0.99%0.95%  charge-off2.03%2.11%1.97%2.04%Synchrony[[SYF]]core delinquency2.80%3.10%3.20%3.03%  adjusted charge-off3.80%4.00%3.10%3.63%Alliance Data Systems[[ADS]]delinquency3.80%4.30%4.30%4.13%  charge-off5.30%5.20%4.60%5.03%Citigroup[[C]]delinquency1.26%1.31%1.38%1.32%  charge-off2.49%2.76%2.01%2.42%Bank of America[[BAC]]delinquency1.31%1.50%1.55%1.45%  charge-off3.17%2.67%1.81%2.55%  Avg. delinquency1.89%2.09%2.13%2.04%  Avg. charge-off2.90%2.97%2.48%2.78%On the whole, March credit card metrics improved from February, with the average delinquency and average charge-off rates falling. However, over the course of three months, the average charge-off rate increased to 2.90% in March from 2.48% in January.Keep in mind, too, that consumers were starting to receive stimulus checks in March from the American Rescue Plan Act.The only metrics to increase from February were ADS's charge-off rate, which rose slightly to 5.3% from 5.2%, and Bank of America's charge-off rate, which saw a more substantial rise to 3.17% from 2.67%.Be aware that some credit card accounts may still be in forbearance programs. Accounts in such programs don't progress to the next stage of delinquency, and eventually to charge-off, in the same time frame that they would if they hadn't been granted forbearance.In the last

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Credit card metrics improve in March as consumers get stimulus checks