Credit Card Delinquencies Drop in Q1

The fall in 30-, 60-, and 90-day credit card delinquencies in tandem with the material decrease in the percentage of new card accounts with a credit score below 660 signals a tightening of credit standards as banks try to manage uncertainty. Interest rate margins rose, reaching all-time highs of 17.1 percent for general credit cards and 23.7 percent for private label cards. Though the Federal Reserve is expected to cut rates in September, it would take a few months before reaching the credit card sector.

Read More.