Bank of America credit card delinquency, net charge-off rates rise in August
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Bank of America’s (NYSE:BAC) credit card trust delinquency rate and net charge-off rate both advanced sequentially in August, it disclosed in a regulatory filing on Monday.
The BA Master Credit Card Trust II delinquency rate of 1.43% ticked up from 1.42% in July and rose 17 basis points from a year before. However, it remained below its pre-pandemic level of 1.57% in August 2019.
The net charge-off rate of 2.48% compared with 2.36% in the previous month, 2.13% in August 2023 and 2.49% five years ago.
Lending activity drifted lower during the month. Receivables outstanding of $15.7B fell from $15.8B in July, the filing showed. That’s still up from the $13.8B mark recorded in August 2023.