Credit card performance stable in Q3: Fitch
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Fitch Ratings reported on November 22, 2024, that Canadian credit card performance remained stable in Q3 2024, with delinquencies and charge-off rates largely unchanged. The three-month average for late-stage delinquencies was 1.12%, unchanged from Q2 2024 and slightly below pre-pandemic levels. The net charge-off index was 2.91%, down from 2.93% in Q2 2024 but up from 2.47% in Q3 2023. The Monthly Payment Rate Index averaged 57.76%, a decline attributed to more cardholders revolving balances. Fitch anticipates stable credit card performance for the remainder of 2024 due to easing inflation and declining interest rates.
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https://www.investmentexecutive.com/news/research-and-markets/credit-card-performance-stable-in-q3-fitch/
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