Chargeoffs for bad credit card debt increased last month for Citigroup Inc. and Bank of America Corp.
Citi said Thursday that uncollectible credit card loans reached 10.51% in June, compared with 10.5% in May.
Loans delinquent at least 35 days, an indicator of future defaults, fell to 5.5% from 5.58%.
B of A said Wednesday that net chargeoffs on its credit card trust rose to 13.86% in June from 12.5% a month earlier.
Payments overdue by 30 days or more fell to 7.73%, from 7.95% in May.
Bank of America's chargeoff rate was among the highest of several major issuers that reported their results this week, many of which reported declines from last month.
American Express Co., JPMorgan Chase & Co. and Discover Financial Services reported month-to-month declines, while chargeoffs at Capital One Financial Corp. rose.
