Both Standard and Poor’s and Fitch released data showing that credit card delinquencies had decreased in the month of May. According to S&P, the total number of delinquencies fell for the sixth consecutive month from 5.4 percent to 5.2, while Fitch data showed that delinquencies actually reached a 17-month low.
In the S&P report, it was also noted that card charge-offs had decreased to 10.1 percent from 10.2 percent in April. However, while delinquencies had decreased in both reports month-over-month, they’d actually increased some from the same month in the previous year (Wall Street Journal).
