Credit quality concerns about the credit card industry have prompted Standard & Poor's Corp. to downgrade the outlook for First USA Inc. and First USA Bank to "stable," from "positive."

S&P said intense competition has led to sharp increases in the amount of credit card debt outstanding and that consumers are increasingly overextended and unable to service their debt, as shown by rising bankruptcies and chargeoffs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.