DBRS: U.S. Credit Card Lenders Tightening Underwriting Despite Strong Economy
DBRS, Inc. (DBRS) published a commentary titled “DBRS: U.S. Credit Card Lenders Tightening Underwriting Despite Strong Economy.”U.S. credit card delinquency rates have been trending up despite the strong labor market. DBRS attributes the upward trend in delinquencies to earlier loosening of credit underwriting and increased supply by issuers. Since 2017, however, credit card issuers appear to have tightened their underwriting and supply of credit. So, DBRS does not anticipate material increases in credit card delinquencies, if the U.S. economy continues to grow strongly.
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