2023-06-15 11:07:46 ET
- JPMorgan Chase's ( NYSE: JPM ) credit card delinquency and net charge-off levels stayed low and steady in May, reflecting its high credit score customers; both measures remained well below prepandemic levels.
- The Chase Issuance Trust delinquency rate of 0.85% ticked down from 0.87% in April and compared with 1.14% in May 2019.
- The net charge-off rate of 1.60% ticked up from 1.58% in the previous month and compared with 2.46% in the same month three years ago.
- Consumers also borrowed more during the month. Principal receivables of $9.00B at May 31, 2023 increased from $8.95B at the beginning of the month, the company said .
- Previously (June 12), U.S. credit card debt nears the $1T mark: Is there a reason to worry?
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JPMorgan Chase credit card delinquency, charge-off rates stay low in May