U.S. Credit Card ABS Maintains Stability, Says Fitch

According to a Fitch press release, U.S. credit card ABS are performing nicely, with monthly payment rates (MPRs) on the upswing.

Prime card metrics have been positive. The 60-day and above delinquencies have decreased to less than a percent at 93 basis points. The delinquency index is 2.11 percent below last year’s level and also well lower than the 4.54 percent peak that was reached in December 2009. As for the MPR, the tally is at 30.31 percent, up 85 basis points and at an historic high.

Similarly, the retail credit index saw MPRs grow to 16.56 percent for the month of July. The gross yield has also been on an upswing, and the total is up more than 6 percent over the previous year.

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