Jul 09
U.S. consumers continue to fall behind and default on their credit cards at record rates and excess spread has contracted to levels not seen in more than 10 years, according to the latest Credit Card Indexe s from Fitch Ratings. The results show Fitch’s three-month excess spread index falling below the 5% threshold for the first time since November 1998. “At 10.44%, May’s chargeoffs are 62% higher on a year-over-year basis. Meanwhile, 60-plus day delinquencies reversed course to set ye
