Bank Of America Corp Says Credit Card Charge-Off Rate Was 2.24% In Feb 2026

Bank of America’s February 2026 credit card net charge‑off rate was 2.24%, essentially flat versus 2.23% in January and well below system‑wide credit card charge‑off levels around 4% in late 2025.

What the 2.24% means

• The 2.24% figure is the annualized net charge‑off rate on Bank of America’s credit card portfolio reported in an SEC filing and cited by Reuters.

• It represents the share of credit card loans written off as uncollectible (net of recoveries) over the period, scaled to an annual rate.

Context vs prior months and peers

• Bank of America reported a 2.23% credit card charge‑off rate in January 2026, so February’s 2.24% is effectively unchanged, indicating a stable loss environment month over month.

• For comparison, the aggregate charge‑off rate on credit card loans at all commercial banks was about 4.1% (seasonally adjusted) in Q4 2025, meaning BofA is currently running well below the industry average loss rate.​

Implications for credit quality

• The stability around 2.2% suggests BofA’s card portfolio is not yet showing a sharp deterioration in realized losses, even as system‑wide card charge‑offs and delinquencies rose meaningfully through 2024–2025 before easing back to more normal levels.

• Given that delinquencies are a leading indicator, you would want to pair this with BofA’s reported delinquency rate (0.99% at January 2026 month‑end) and subsequent updates to gauge whether modest further charge‑off normalization is likely.