Bank of America credit card net charge-off rate advance in November
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Bank of America’s (NYSE:BAC) credit card metrics were mixed in November, with net charge-offs rising and delinquencies roughly stable, the bank disclosed in a regulatory filing on Monday.
BA Master Credit Card Trust II’s net charge-off rate of 2.66% climbed from 2.41% in October and 2.24% a year earlier. The latest reading compares with the prepandemic mark of 2.60% in November 2019.
The trust’s delinquency rate inched down to 1.51% from 1.52% in the previous month and increased from 1.41% in November 2023. It also trailed the 1.63% print recorded five years ago.
Lending activity rose modestly during the month, the filing showed, with receivables outstanding advancing to $15.7B at Nov. 30 from $15.6B at Oct. 31.