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Credit card metrics
Net charge-offs and late payments on credit card loans, month by month, as the issuers and their card trusts report them to the SEC: Capital One, Synchrony, American Express, Bread Financial and Discover, and seven pools of securitized card loans.
Issuer-wide, from the issuers' monthly 8-Ks
Issuer-wide figures are the issuer's own monthly report of its card loans, furnished on Form 8-K. Each issuer defines its terms its own way; the definition is under each row. Rates are annualized and shown as reported.
| Net charge-offs, annualized, as a percent of average loans: the loans the issuer wrote off in the month, less recoveries, scaled to a year. | Loans 30 or more days past due, as a percent of loans at the end of the month. Each issuer counts them in its own way; see the definition below the table. | Loans (or receivables, for a pool) at the end of the month. | Filing | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Capital One, domestic card Capital One Financial Corp | Sep 2026 | 3.66% | -0.5 pp | -0.69 pp | 3.74% | +0.17 pp | -0.15 pp | $260B | 8-K |
| Capital One, auto Capital One Financial Corp | Sep 2026 | 1.62% | -0.04 pp | +0.16 pp | 4.64% | +0.1 pp | -0.35 pp | $92.9B | 8-K |
| Synchrony Synchrony Financial | Oct 2026 | 4.4% | -0.3 pp | -0.6 pp | 4.4% | +0.1 pp | -0.1 pp | $104B | 8-K |
| American Express, U.S. consumer American Express Co | Sep 2026 | 1.5% | -0.2 pp | -0.2 pp | 1.2% | +0.1 pp | -0.1 pp | $114B | 8-K |
| American Express, small business American Express Co | Sep 2026 | 2.1% | -0.1 pp | -0.1 pp | 1.4% | +0.1 pp | -0.1 pp | $46.6B | 8-K |
| American Express, U.S. consumer (to Mar 2026) American Express Co | Mar 2026 | 2.2% | +0.2 pp | -0.2 pp | 1.4% | 0.0 pp | 0.0 pp | $97.5B | 8-K |
| American Express, small business (to Mar 2026) American Express Co | Mar 2026 | 2.9% | +0.1 pp | +0.3 pp | 1.7% | 0.0 pp | +0.1 pp | $32.2B | 8-K |
| Bread Financial Bread Financial Holdings, Inc. | Oct 2026 | 6.69% | +0.7 pp | -0.81 pp | 5.64% | +0.07 pp | -0.46 pp | $19.0B | 8-K |
| Discover (to April 2025) Discover Financial Services | Apr 2025 | 5.04% | +0.1 pp | -0.56 pp | 3.5% | -0.16 pp | -0.22 pp | $99.5B | 8-K |
How each series defines its figures
- Capital One, domestic card: Domestic credit card loans of Capital One (Discover included from June 2025)
- Counts: Domestic card loans held for investment, Discover included. Includes Discover's domestic card loans from the June 2025 report on (acquisition closed May 18, 2025); earlier months are Capital One alone. Net charge-off rate is annualized net charge-offs over average loans held for investment; the 30+ day delinquency rate is performing loans 30 or more days past due over period-end loans held for investment.
- Capital One, auto: Auto loans of Capital One
- Counts: Consumer Banking auto loans held for investment. Consumer Banking auto loans held for investment (Discover has no auto book). Net charge-off rate is annualized net charge-offs over average loans held for investment; the 30+ day delinquency rate is performing loans 30 or more days past due over period-end loans held for investment. The nonperforming loan rate is nonperforming loans over period-end loans.
- Synchrony: Synchrony's whole loan receivables portfolio (private-label and co-brand cards, CareCredit and others)
- Counts: Loan receivables of the whole portfolio. Adjusted net charge-off rate (non-GAAP; recoveries spread evenly over the quarter): 4.6%.
- American Express, U.S. consumer: U.S. consumer Card balances (loans and receivables), from the report on April 2026, filed in May 2026
- Counts: Card balances (loans and receivables held for investment, including balances paid in full each month). Net write-off rate counts principal only (interest and fees excluded). Delinquency is Card balances 30 or more days past due as a share of total Card balances. From the report on April 2026 (filed in May 2026) American Express counts loans and receivables together (Card balances), so these figures are not comparable with its earlier Card Member loans series, which is kept apart.
- American Express, small business: U.S. small business Card balances (loans and receivables), from the report on April 2026, filed in May 2026
- Counts: Card balances (loans and receivables held for investment, including balances paid in full each month). Net write-off rate counts principal only (interest and fees excluded). Delinquency is Card balances 30 or more days past due as a share of total Card balances. From the report on April 2026 (filed in May 2026) American Express counts loans and receivables together (Card balances), so these figures are not comparable with its earlier Card Member loans series, which is kept apart.
- American Express, U.S. consumer (to Mar 2026): U.S. consumer Card Member loans, as reported until the March 2026 report; American Express then changed the definition
- Counts: Card Member loans (revolve-eligible balances held for investment). Net write-off rate counts principal only (interest and fees excluded). Delinquency is loans 30 or more days past due as a share of total loans. Card Member loans held for sale are not included.
- American Express, small business (to Mar 2026): U.S. small business Card Member loans, as reported until the March 2026 report; American Express then changed the definition
- Counts: Card Member loans (revolve-eligible balances held for investment). Net write-off rate counts principal only (interest and fees excluded). Delinquency is loans 30 or more days past due as a share of total loans. Card Member loans held for sale are not included.
- Bread Financial: Bread Financial's credit card and other loans
- Counts: Credit card and other loans; loss rate on the daily average balance. Loss rate as the issuer labels it: 'Net principal loss rate'.
- Discover (to April 2025): Discover's card loans. Discover was acquired by Capital One on May 18, 2025 and stopped filing these reports
- Counts: Credit card loans. Discover's total credit card portfolio, as Discover reported it (not the Discover Card trusts). Net principal charge-off rate is annualized net principal charge-offs over average loans; the delinquency rate is loans 30 or more days delinquent over ending loans. Discover was acquired by Capital One on May 18, 2025 and stopped filing this report after April 2025.
- American Express, U.S. consumer (to Mar 2026): not reported after Mar 2026; see the series that continues it, if any.
- American Express, small business (to Mar 2026): not reported after Mar 2026; see the series that continues it, if any.
- Discover (to April 2025): not reported after Apr 2025; see the series that continues it, if any.
- Capital One, domestic card, Jun 2025 (definition changed): Capital One closed the Discover acquisition in May 2025. From June 2025 domestic card loans include Discover's card loans, so loans jump from about 152 billion to 252 billion. Changes are not computed across this month.
- Bread Financial, Jan 2024 (definition changed): From January 2024 Bread reports the loss rate on the daily average balance. Before that it used the average of the month's opening and closing balance. Changes are not computed across this month.
- Bread Financial, Jan 2021: The fall to 4.6% follows the December 2020 net charge-off figure of 118.3 million, which was as filed.
- Bread Financial, Dec 2020: As filed: December 2020 net charge-offs were 118.3 million on 16.2 billion of average loans, which is the 8.7% shown. The filing gives no reason; the rate was 5.2% in November and 4.6% in January.
Each issuer, last 13 months
Domestic credit card loans of Capital One (Discover included from June 2025)
Auto loans of Capital One
Synchrony's whole loan receivables portfolio (private-label and co-brand cards, CareCredit and others)
U.S. consumer Card balances (loans and receivables), from the report on April 2026, filed in May 2026
U.S. small business Card balances (loans and receivables), from the report on April 2026, filed in May 2026
U.S. consumer Card Member loans, as reported until the March 2026 report; American Express then changed the definition
U.S. small business Card Member loans, as reported until the March 2026 report; American Express then changed the definition
Bread Financial's credit card and other loans
Discover's card loans. Discover was acquired by Capital One on May 18, 2025 and stopped filing these reports
Securitized card pools, from the trusts' monthly 10-Ds
A securitized card pool is the set of card loans a bank has sold into a trust that issues bonds. It is a part of the issuer's loans, chosen for the trust, so its rates differ from the issuer's own and are shown apart from them. Yield, excess spread and payment rate are reported for these pools only.
| Net charge-offs, annualized, as a percent of average loans: the loans the issuer wrote off in the month, less recoveries, scaled to a year. | Loans 30 or more days past due, as a percent of loans at the end of the month. Each issuer counts them in its own way; see the definition below the table. | Loans (or receivables, for a pool) at the end of the month. | Portfolio yield: what the pool earns on its receivables in the month, annualized. Some trusts report it before losses and some after; see the definition. | Excess spread: yield less the cost of the trust's bonds, fees and losses, the cushion that absorbs credit losses before investors are affected. | Monthly payment rate: the share of the pool's balance cardholders paid down in the month. | Filing | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chase Issuance Trust JPMorgan Chase & Co | Sep 2026 | 1.52% | -0.14 pp | -0.16 pp | 0.81% | +0.01 pp | -0.04 pp | $11.7B | 22.69% | 16.56% | 51.12% | 10-D |
| Citibank Credit Card Issuance Trust Citigroup Inc | Sep 2026 | 2.18% | +0.15 pp | -0.32 pp | 1.35% | +0.06 pp | -0.03 pp | $18.7B | 22.85% | 18.10% | 41.45% | 10-D |
| BA Credit Card Trust Bank of America Corp | Sep 2026 | 2.07% | -0.07 pp | -0.37 pp | 1.37% | +0.09 pp | +0.03 pp | $14.2B | 16.16% | 11.76% | 26.85% | 10-D |
| Capital One Multi-asset Execution Trust Capital One Financial Corp | Sep 2026 | 1.69% | -0.32 pp | -0.52 pp | 1.72% | +0.08 pp | -0.14 pp | $23.0B | 26.89% | — | 46.00% | 10-D |
| American Express Credit Account Master Trust American Express Co | Sep 2026 | 1.00% | +0.05 pp | -0.26 pp | 0.69% | +0.03 pp | -0.1 pp | $24.7B | 32.49% | — | 50.90% | 10-D |
| Synchrony Card Issuance Trust Synchrony Financial | Sep 2026 | 3.86% | -0.32 pp | -0.35 pp | 2.88% | +0.14 pp | -0.04 pp | $10.7B | 22.04% | 16.67% | 24.46% | 10-D |
| Barclays Dryrock Issuance Trust Barclays PLC | Sep 2026 | 3.41% | -0.4 pp | -0.63 pp | 2.32% | +0.02 pp | -0.25 pp | $7.1B | 22.19% | 16.93% | 29.24% | 10-D |
How each series defines its figures
- Chase Issuance Trust: Securitized card pool: Chase Issuance Trust, Asset Pool One
- Counts: Principal receivables of the trust. Chase Issuance Trust, Asset Pool One. Portfolio yield is the pool's finance charge, fee and interchange yield less net credit losses; excess spread is that yield less the coupon and servicing fee. The delinquency rate is the share of the pool balance 30 or more days past due. Net loss rate is annualized net losses over the average pool balance.
- Citibank Credit Card Issuance Trust: Securitized card pool: Citibank Credit Card Master Trust I
- Counts: Principal receivables of the trust. Citibank Credit Card Issuance Trust and its collateral certificate. Net loss rate is the 'credit loss component' of the portfolio yield; excess spread is the 'surplus finance charge collections' rate; the payment rate is the principal payment rate. The delinquency rate is the sum of the 31-60 through 151-180 day buckets as a share of all receivables (the issuer's first bucket, 1-30 days, is not counted).
- BA Credit Card Trust: Securitized card pool: BA Credit Card Trust
- Counts: Principal receivables of the trust. BA Credit Card Trust, Series 2001-D certificateholders' statement. Portfolio yield is the cash yield net of investor defaults; the net loss rate is the investor default amount net of recoveries, annualized, as a share of the series' investor interest; excess spread is the issuer's 'excess available funds percentage'. The delinquency rate is all balances 30 or more days past due as a share of total receivables; the payment rate is principal collections over the prior month's principal receivables.
- Capital One Multi-asset Execution Trust: Securitized card pool: Capital One Master Trust
- Counts: Principal receivables of the trust. Capital One Master Trust, the collateral of Capital One Multi-asset Execution Trust. Yield is the annualized gross yield on principal receivables (before losses); the net loss rate is the annualized net default rate; the payment rate is the principal payment rate. The delinquency rate is accounts 30 or more days past due as a share of total receivables. The issuer reports excess spread only as a dollar amount.
- American Express Credit Account Master Trust: Securitized card pool: American Express Credit Account Master Trust
- Counts: Principal receivables of the trust. American Express Credit Account Master Trust (U.S. consumer and small business card receivables selected for the trust). Yield is the trust portfolio yield before losses; the net loss rate is the annualized default rate net of recoveries; the payment rate is the monthly payment rate on principal. The delinquency rate is receivables 30 or more days past due as a share of total receivables. The issuer reports excess spread only per series, so none is shown.
- Synchrony Card Issuance Trust: Securitized card pool: Synchrony Card Issuance Trust
- Counts: Principal receivables of the trust. Synchrony Card Issuance Trust. Portfolio yield and excess spread are the SynchronySeries figures; the net charge-off rate is the trust's annualized default amount less recoveries over opening principal receivables; the payment rate is principal collections over opening principal receivables. The delinquency rate adds the 30-59 through 180+ day buckets (the issuer also shows 1-29 days, which is not counted).
- Barclays Dryrock Issuance Trust: Securitized card pool: Barclays Dryrock Issuance Trust (Barclays Bank Delaware)
- Counts: Principal receivables of the trust. Barclays Dryrock Issuance Trust (Barclays Bank Delaware cards). Yield and excess spread are the first series' figures; the net loss rate is annualized net losses over the portfolio principal balance; the payment rate is total collections over opening principal and excludes investment earnings. The delinquency rate adds the 31-60 through 181+ day buckets (the issuer's first bucket, 1-30 days, is not counted).
- Chase Issuance Trust, Feb 2024: As filed: the trust's receivables rose from 8.8 billion in January 2024 to 12.6 billion in February 2024. The monthly report gives no reason; the figures are the pool's, not Chase's whole card book.
- Chase Issuance Trust, Oct 2019: As filed: the trust's receivables fell from 26.9 billion in September 2019 to 14.2 billion in October 2019. The monthly report gives no reason; the figures are the pool's, not Chase's whole card book.
- Synchrony Card Issuance Trust, Dec 2019: The December 2019 report shows an increase of 1.94 billion in principal receivables from additional accounts, which lifted the trust's receivables from 5.5 billion to 7.6 billion.
- Barclays Dryrock Issuance Trust, Mar 2023: As filed: the trust's receivables rose from 5.7 billion in February 2023 to 8.0 billion in March 2023. The monthly report gives no reason; the figures are the pool's, not Barclays' whole card book.
Each pool, last 13 months
Securitized card pool: Chase Issuance Trust, Asset Pool One
Securitized card pool: Citibank Credit Card Master Trust I
Securitized card pool: BA Credit Card Trust
Securitized card pool: Capital One Master Trust
Securitized card pool: American Express Credit Account Master Trust
Securitized card pool: Synchrony Card Issuance Trust
Securitized card pool: Barclays Dryrock Issuance Trust (Barclays Bank Delaware)
The latest month and the 13 before it are free. Every month back to 2019, the REST endpoint and the connector are in Premium. Changes are percentage points.
When an issuer changes what it counts, the months on the old and the new definition are kept apart: each row carries its definition, a change against the prior month or a year earlier is shown only between months on the same definition, and charts do not join the two. A month an issuer later restates on the same definition is replaced by the newest filing.
Source: the issuers' and trusts' filings with the SEC (Forms 8-K and 10-D), newest month Oct 2026. US public records (SEC EDGAR), public domain. Percentages are as each issuer reports them. Definitions differ between issuers and between a trust and its issuer. Not investment advice.
About this data says where the numbers come from and when they were last updated. Lender stress shows these figures next to the same lenders' bank delinquencies and complaints.