Bank of America’s April credit card delinquency, charge-offs decline

Bank of America’s (NYSE:BAC) April credit card delinquency and net charge-off rate fell from the prior month, according to a filing by its credit card master trust.

The BA Master Credit Card Trust II’s delinquency rate fell to 1.42% from 1.47% in March, but stayed above the prior year figure of 1.39%. Comparatively, the pre-pandemic April 2019 delinquency rate was 1.62%.

The net charge-off rate of 2.70% decreased from 2.76% in March, but increased from 2.50% in April 2024. The pre-pandemic April 2019 rate was 2.83%.

Lending activity rose sequentially, with the April receivables outstanding coming at $15.20B. This compares with $15.09B at the end of the prior month and ~$15.9B at April 30, 2024.