Discover Financial, the 6th largest credit card issuer in America, just reported a massive spike in defaults.
Their net charge-off rate - an indication of how many accounts are deemed as "uncollectable" - spiked to 5.7% in early 2024. The highest since the GFC
https://x.com/nickgerli1/status/1782438074619715789
- Forums
- ASX - General
- Its Over
Discover Financial, the 6th largest credit card issuer in...
- There are more pages in this discussion • 201 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)