Defaults Plunge For AmEx & Discover
Yesterday, major credit card companies American Express Co. (NYSE:AXP) (AmEx) and Discover Financial Services (NYSE:DFS) reported a drop in defaults and delinquency rates for November 2011, implying a favorable credit quality. Delinquency rates… Accordingly, the delinquency rate, indicating the future rate of default, for AmEx, 30 days, was recorded at 1.5% of balances, at par [...]
Yesterday, major credit card companies American Express Co. (NYSE:AXP) (AmEx) and Discover Financial Services (NYSE:DFS) reported a drop in defaults and delinquency rates for November 2011, implying a favorable credit quality.
Delinquency rates…
Accordingly, the delinquency rate, indicating the future rate of default, for AmEx, 30 days, was recorded at 1.5% of balances, at par with that reported in October and September this year. However, this came in lower than 2.2% of balances recorded in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards