Bank of America’s (NYSE:BAC) credit card net charge-off rate rose sequentially in August, while its delinquency rate inched down, as lending activity pulled back modestly, the bank disclosed on Monday.
The BA Master Credit Card Trust II’s delinquency rate of 1.36% compared with 1.37% in July and 1.43% in August 2024. The latest figure also was down 20 basis points from the pre-pandemic level of 1.56% six years ago.
Meanwhile, the net charge-off rate advanced to 2.41% in August from 2.25% in the previous month, but slid from 2.48% a year ago and 2.67% in August 2019, according to a Securities and Exchange Commission filing.
Receivables outstanding at the end of the month stood at $15.0B, down from $15.1B at July 31 and $15.7B a year earlier.