Bank Of America Says Credit Card Delinquency Rate Was 1.39% At April End Vs 1.41% At March End; Credit Card Charge-off Rate Was 2.49% In April Vs 2.43% In March
Portfolio Pulse from Benzinga Newsdesk
Bank of America reported a slight decrease in its credit card delinquency rate, which was 1.39% at the end of April compared to 1.41% at the end of March. However, the credit card charge-off rate increased to 2.49% in April from 2.43% in March.
May 15, 2024 | 2:06 pm
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Bank of America reported a slight decrease in its credit card delinquency rate to 1.39% at the end of April from 1.41% at the end of March. However, the credit card charge-off rate increased to 2.49% in April from 2.43% in March.
The slight decrease in delinquency rates is a positive sign, indicating better credit card payment behavior among customers. However, the increase in charge-off rates suggests that more accounts are being written off as uncollectible, which could offset the positive impact of lower delinquencies. Overall, the mixed signals are likely to result in a neutral short-term impact on BAC's stock price.
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