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Discover Financial Services’s (NYSE:DFS) credit card delinquency rate increased, while its net charge-off rate decreased in August, the company disclosed in a recent filing.
Its delinquency rate of 3.79% crept up from 3.73% in July and rose markedly from 3.15% in August 2023.
The net charge-off rate, meanwhile, edged down to 5.22% from 5.28% in the previous month and climbed from 4.16% a year before.
Lending activity increased modestly, with loans at the end of the month at $100.6B, rising 0.1% M/M and 3.8% Y/Y.
