Delinquencies rise in February as diverging consumer credit trends emerge [Seeking Alpha]
Synchrony Financial (SYF)
Last synchrony financial earnings: 4/21 06:30 am
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Source: Seeking Alpha
In its February 2024 CreditGauge, VantageScore said delinquencies rose across all credit tiers and products, spanning auto loans, credit card debt, mortgages, and personal loans. Early-stage delinquencies broke above 1.0% — to 1.04% — in February, from 0.98% in January. The last time the metric exceeded 1.0% was in February 2020, when it hit 1.07%, the firm said. The average consumer, though, remained credit healthy, but the number of consumers in the VantageScore Prime credit tier (with credit scores of 661-780) contracted for a second straight month. That tier fell by 1.1% Y/Y, with the largest moves "up" into the Superprime (781-850) category or "out" into the Subprime (300-600) tier. The divergent trends of healthy Superprime consumers, compared with struggling Subprime consumers, "could complicate the Federal Reserve's efforts to effectively engineer a smooth landing because VantageScore Superprime consumers are still spending and borrowing while VantageScore Subprime consu
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News
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SYF
Earnings
- 4/24/24 - Beat
SYF
Sec Filings
- 5/2/24 - Form 144
- 4/25/24 - Form 10-Q
- 4/25/24 - Form ARS
- SYF's page on the SEC website