- Bank of America (NYSE:BAC) credit card delinquency rate of 0.90% in August ticks down from 0.92% in July and compares with 1.08% in August 2021.
- Net charge-off rate of 1.45% drops from 1.61% in July and 2.11% in August 2021.
- That contrasts with Capital One and Synchrony Financial, which saw credit card delinquency and net charge-off rates creep up in August vs. July.
- Keep in mind that enhanced unemployment benefits were still in effect for a number of states in August; those enhanced benefits ended for all states in early September.
- Previously (Aug. 16), Bank of America credit metrics reflect steadily improving path in July