Credit Card Companies Report Good News About Cardholders
Wall Street Journal report last week that six major credit card company, Discover, Bank of America, American Express, Capital One, JP Morgan, and Citigroup, find cardholders improve credit card practices even though economy still working against them.
Wall Street Journal reports (and we know they credible and not bunch of bird-brained pelicans) that credit card companies do monthly analysis of behavior of cardholders and news is looking up for the month of May.
All six credit card companies report that number of monthly delinquent accounts, which means the number of people not paying bill on time, is down. Good news! I give big fins up for those people!
Five of credit card companies (JPMorgan Chase, Citigroup, AMEX, Capital One, and Bank of America) all report less charge-off accounts as well. This mean there fewer accounts categorized as incapable of being collected. Discover was the only credit card company that unable to report that big news; however Discover isn’t swimming with the fishes – - their charge-off rate is still considered extremely low at 2.65%.
All-in-all credit card companies say that cardholders do better, which is commendable considering economy still as bad as ocean dumping. Cardholders should keep searching for credit cards that are right for lifestyle and needs. Great thing about credit cards right now is companies look for responsible and loyal cardholders, so if you serious about improving your credit or ready to save money by accruing points, a credit card – the right credit card – is the best the way to achieve that goal and there plenty of cards to choose from.