Byline: Kate Fitzgerald
The charge-off rate on U.S. credit cards declined last month, along with the rate of card accounts past due, according to a March 26 report from Fitch Group's Fitch Ratings Inc.
The rate of defaults on credit card outstanding receivables dipped 10 basis points during February, to 11.27% from 11.37% during the previous collection period in January. Credit card accounts at least 60 days past due in February fell six basis points, to 4.44% from 4.5%, while accounts at least 30 days past due also fell six basis points, to 5.66% from 5.72%.
The trends …
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