US credit card debts written off as uncollectable rose in November, following two consecutive months of decline, though early-stage delinquencies dropped for the month, Moody's Investors Service said Tuesday.
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SXC Credit card charge-offs rose one-half percentage point in November. |
Credit card charge-offs rose by about one-half percentage point in November to 10.56 percent, and is likely to continue to rise to a peak of between 12 percent and 13 percent in mid-2010, Moody's said in a statement.
Delinquencies, which measure the proportion of accounts for which a monthly payment is more than 30 days late, also increased to 6.2 percent in November, though early-stage delinquencies fell to 1.6 percent for the month, Moody's said.
