Prime credit card chargeoffs will remain stable from last month and near their record low. Fitch's Prime Credit Card 60+ Day Delinquency Index will decrease to a new low. We believe this is in keeping with seasonal trends. We also believe gross yield is expected to decrease slightly. Monthly payment rate (MPR) will also decrease slightly within seasonal trends.
Fitch's Retail Credit Card Chargeoff Index will increase to near 7%. We last recorded chargeoffs at this level in July of 2012. However, we expect Fitch's Retail Credit Card 60+ Day Delinquency Index to decline. We believe gross yield will drop slightly for the second straight month. And we expect retail MPR to remain flat.
This preliminary data reflects the April reporting period as of
The above article originally appeared as a post on the Fitch Wire credit market commentary page. The original article can be accessed at www.fitchratings.com. All opinions expressed are those of Fitch Ratings.
U.S. Structured Finance
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Source: Fitch Ratings
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