Credit Card Writedowns Continue Decline in October
Press release from the issuing company
Tuesday, November 16th, 2010
The ability of credit card holders to pay off debt has shown sustained improvement this year and on Monday the top U.S. credit card issuers said that trend continued in October.
Statistics posted by five of the six biggest card companies mainly showed fewer balances being written off as uncollectible, and fewer card customers falling behind on their payments. Four of the six biggest issuers, included the largest, JPMorgan Chase & Co., reported their lowest levels of bad debt and late payments this year.
