Discover Financial Services Reports Credit Card Delinquency Rate 1.64% At May End vs 1.68% At April End; Credit Card Charge-Off Rate 2.40% At May End vs 2.35% At April End
Portfolio Pulse from Benzinga Newsdesk
Discover Financial Services reported a slight decrease in its credit card delinquency rate to 1.64% at the end of May from 1.68% at the end of April. However, the credit card charge-off rate increased marginally to 2.40% from 2.35% over the same period.
June 14, 2024 | 8:18 pm
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Discover Financial Services reported a slight decrease in its credit card delinquency rate to 1.64% at the end of May from 1.68% at the end of April. However, the credit card charge-off rate increased marginally to 2.40% from 2.35% over the same period.
The slight decrease in the delinquency rate is a positive sign, indicating better credit card payment behavior among customers. However, the marginal increase in the charge-off rate could be a concern, suggesting a slight uptick in uncollectible debt. These mixed signals are likely to result in a neutral short-term impact on DFS stock.
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