revolving credit

Increased Credit Card Write-Offs Lead to Falling Stock Prices for Card Issuers

Synchrony Financial, the largest supplier of private label credit cards, reported that credit card write-offs would increase at higher-than-expected rates, as consumers are struggling to catch up on overdue payments. Synchrony is now projecting the net charge-off rates to increase by 20 to 30 basis points in the next year. “There doesn’t appear to be