Moody's Investors Service reports that U.S. credit card delinquencies fell in August as the six top issuers posted improved numbers, according to Bloomberg News.
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Loans at least 30 days overdue, a signal of future writeoffs, dropped to 4.70%, from 4.93%, in July, Moody's said Monday. Write-offs for loans deemed uncollectible, a lagging indicator, climbed to 10.03%, from 9.3%.
The top six credit-card issuers, including JPMorgan Chase & Co. and Citigroup Inc., all reported lower August delinquencies in regulatory filings this month. Writeoffs climbed at five of the six and held steady at American Express Co.
