Fewer consumers are significantly late on their credit card payments, but major issuers are still having to write off extremely high portions of their credit card loans, according to February data.
Among major issuers, only Citigroup showed a monthly increase in the delinquency rate, which is the number of credit card consumers who are at least 30 days late in paying their bill. Lower delinquency rates are good for issuers because this indicates they will have to write-off fewer bad loans in the future.
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