According to Collections & Credit Risk, credit card charge-offs rose 20% in the third quarter of 2007 over the same period in 2006. Bank of America, Chase, American Express and Citigroup set the pace with a combined $5.57 billion in charge-offs for the three months ending September, 2007.
This is less than the second quarter’s increase of 22%. Here is how the individual issuers fared. (more…)
