JPMorgan Chase credit card net charge-off rate drops in April

JPMorgan Chase’s (NYSE:JPM) credit card master trust’s delinquency rate stayed among the lowest in the industry, while its net charge-off rate fell significantly, according to data the bank released on Thursday. Both remain below prepandemic levels.

The Chase Issuance Trust’s delinquency rate of 0.89% in April was unchanged from March and rose from 0.81% in April 2024. It remains well below its April 2019 level of 1.18%.

The trust’s net charge-off rate of 1.67% dropped from 1.85% in March and compared with 1.48% a year ago. That’s also still better than the 2.51% rate in April 2019.

Principal receivables at month-end were $12.4B, up 1.6% M/M and down 3.1% Y/Y.