Alliance Data Systems Corp.'s net chargeoff rate rose in the first quarter on the private-label credit cards it oversees.
For most credit card issuers, recent numbers on the performance of credit card loans indicate that while losses remain at elevated levels, the pace of increases is moderating. Industrywide delinquency rates, a key gauge of future losses, are slowing.
Alliance Data, a Dallas loyalty program and private-label card operator, on Friday said chargeoffs increased to 9.4% in the quarter from 8.8% a year earlier. For March, the rate rose year-over-year to 9.2% from 8.9%.
