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Four Perspectives On Credit Card Defaults
Blog Post Date: Feb 17 2010
Four Perspectives on Credit Card Defaults
By Damien Hoffman
Editor-in-Chief, Wall St. Cheat Sheet
In Forbes's "Credit Card Defaults Decrease, But Long Road Ahead," the Bank of America (BAC), JPMorgan Chase (JPM), American Express (AXP) and Capital One (COF) offered a diversed look at credit card debt.
The Bank of America net charge offs (this is the percentage of loans predicted to default) dropped to 13.3 percent from 13.5 percent and American Express's net charge offs dropped from 7.1 percent to 7 percent.
On the other side, Capital One reported an increase in net charge offs from 10.14 percent to 10.4 percent, while JP Morgan's net charge offs skyrocketed from 7.11 percent to 10.91 percent.
Although shares of these stocks are surging, that's still a lot of deadbeats to get excited about.
VIA Huffington Post
Keyword: Credit cards
By Damien Hoffman
Editor-in-Chief, Wall St. Cheat Sheet
In Forbes's "Credit Card Defaults Decrease, But Long Road Ahead," the Bank of America (BAC), JPMorgan Chase (JPM), American Express (AXP) and Capital One (COF) offered a diversed look at credit card debt.
The Bank of America net charge offs (this is the percentage of loans predicted to default) dropped to 13.3 percent from 13.5 percent and American Express's net charge offs dropped from 7.1 percent to 7 percent.
On the other side, Capital One reported an increase in net charge offs from 10.14 percent to 10.4 percent, while JP Morgan's net charge offs skyrocketed from 7.11 percent to 10.91 percent.
Although shares of these stocks are surging, that's still a lot of deadbeats to get excited about.
VIA Huffington Post
Keyword: Credit cards
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