Charge-offs, delinquencies rise for credit card companies

Charge-offs, delinquencies rise for credit card companies
High unemployment in the U.S. has led to rising charge-offs and delinquencies at credit card companies. The firms are reacting by limiting credit, raising the bar on lending standards and cutting back on loan portfolios. "The companies aren't out of the woods yet, but they are now better able to forecast credit trends, which are more in line with seasonal trends," said Scott Valentin, an analyst at FBR Capital Markets. The Wall Street Journal/Dow Jones Newswires (15 Oct.)
 
 

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