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Bread Financial Holdings (NYSE:BFH) credit card net charge-off rate declined, while its delinquency rate remained stable in August, the company disclosed in a filing on Monday.
The net charge-off rate, also known as the net loss rate, fell to 7.8% in August from 8.0% in July. It still rose from 6.7% in the year-ago period.
The delinquency rate, or the percentage of receivables past due by 30 days or more, was flat M/M at 6.2%; that compares with 5.9% in August 2023.
Lending activity perked up, with credit card and other loans rising to $17.9B from $17.7B in the prior month. It’s slightly down, however, from ~$18.0B a year before.
