{"id":184994,"date":"2010-01-15T10:46:00","date_gmt":"2010-01-15T15:46:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/banks-see-massive-credit-card-charge-offs-during-the-holidays-2010-1"},"modified":"2010-01-15T10:46:00","modified_gmt":"2010-01-15T15:46:00","slug":"bofa-credit-card-charge-offs-reverse-three-month-decline-jump-in-december","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/184994","title":{"rendered":"BofA Credit-Card Charge-Offs Reverse Three Month Decline, Jump In December"},"content":{"rendered":"

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American shoppers<\/a>, stressed to save face during the holiday season, are still having problems paying their debts.<\/p>\n

But the picture is mixed..<\/p>\n

Reuters<\/a>: Bank of America, the biggest U.S. bank, had the highest default and delinquency rates of the three companies that reported early on Friday. The bank said its rate of charge-offs — debts the company believes it will never collect — rose last month to 13.53 percent from 13.00 percent in November, reversing a three-month decline.<\/p>\n

Bank of America’s credit card delinquencies — an indicator of future loan losses — fell to 7.44 percent last month from 7.69 percent in November. Capital One said its annualized charge-off rate for U.S. credit cards rose to 10.14 percent in December from 9.60 percent in November.<\/p>\n

However, credit card accounts that were at least 30 days delinquent fell to 5.78 percent from 5.87 percent at Capital One, the third-largest U.S. issuer of Visa-branded credit card and the fifth-largest issuer of MasterCard-branded credit cards.<\/p>\n

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