Where US Economy Goes, Credit Card ABS Will Follow

With the U.S. economy teetering on the edge of recession, collateral performance across credit card ABS continues its decline, according to Fitch Ratings in the latest edition of ‘Credit Card Movers & Shakers’. Fitch expects delinquency and chargeoff rates across prime, subprime and retail credit card sectors to grow as economic pressure on the U.S. Consumer continues to mount. Additionally, chargeoff rates in Fitch’s prime credit card index have risen for the ninth straight month.

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