Discover Financial Services : Regulation FD Presentation - Form 8-K
May 14, 2024 at 09:46 pm
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Monthly Credit Card Charge-off and Delinquency Statistics
As of and for each of the twenty-four months ended
(dollars in billions)
Apr 30, 2024
Mar 31, 2024
Feb 29, 2024
Jan 31, 2024
Dec 31, 2023
Nov 30, 2023
Oct 31, 2023
Sep 30, 2023
Aug 31, 2023
Jul 31, 2023
Jun 30, 2023
May 31, 2023
Ending Loans
$
99.7
$
99.5
$
99.9
$
101.0
$
102.3
$
100.9
$
98.7
$
97.4
$
96.9
$
95.6
$
94.0
$
92.9
Average Loans
$
99.4
$
99.3
$
100.3
$
101.3
$
101.7
$
99.2
$
97.9
$
97.0
$
96.0
$
94.5
$
93.3
$
91.7
Net Principal Charge-off Rate(1)
5.60
%
5.90
%
5.86
%
5.23
%
4.90
%
4.71
%
4.42
%
4.15
%
4.16
%
3.77
%
3.80
%
3.67
%
Delinquency Rate (30 or more days)(2)
3.72
%
3.83
%
4.01
%
4.02
%
3.87
%
3.76
%
3.61
%
3.41
%
3.15
%
3.00
%
2.86
%
2.77
%
Apr 30, 2023
Mar 31, 2023
Feb 28, 2023
Jan 31, 2023
Dec 31, 2022
Nov 30, 2022
Oct 31, 2022
Sep 30, 2022
Aug 31, 2022
Jul 31, 2022
Jun 30, 2022
May 31, 2022
Ending Loans
$
91.3
$
89.8
$
89.6
$
90.0
$
90.1
$
87.9
$
85.4
$
83.6
$
82.9
$
81.0
$
79.2
$
77.2
Average Loans
$
90.5
$
89.2
$
89.5
$
89.7
$
89.1
$
85.9
$
84.2
$
83.0
$
81.6
$
79.7
$
77.9
$
75.7
Net Principal Charge-off Rate(1)
3.56
%
3.13
%
3.40
%
2.81
%
2.54
%
2.46
%
2.10
%
2.01
%
1.86
%
1.90
%
1.99
%
2.03
%
Delinquency Rate (30 or more days)(2)
2.75
%
2.76
%
2.74
%
2.67
%
2.53
%
2.36
%
2.23
%
2.11
%
1.96
%
1.84
%
1.76
%
1.71
%
(1) Represents net principal charge-off dollars (annualized) divided by average loans for the reporting period.
(2) Represents loans delinquent 30 or more days divided by ending loans.
The statistics presented above provide information regarding Discover Financial Services' total credit card portfolio. The data presented differs from the data reported by the Discover Card Master Trust I and, through the collateral certificate, the Discover Card Execution Note Trust (collectively, the "Trusts"), Discover Funding LLC and Discover Bank in their monthly Form 10-D reports filed with the Securities and Exchange Commission which reflects only credit card loans that have been securitized through the Trusts. The credit card loans that have been securitized through the Trusts do not possess identical characteristics with those of the total portfolio of Discover credit card loans, which reflects the aggregate of securitized and non-securitized credit card loans. Thus, the reported credit performance of the Trusts may, on a month-to-month basis, be better or worse than the credit performance of the total credit card portfolio. Reported differences may arise as a result of, among other things, differences in the mix and vintage of loans between the Trusts and the total portfolio, the use of beginning of month principal receivables balances to calculate charge-off statistics in the Trusts compared to the use of average loan balances over the reporting period used in the total portfolio statistics, and the calculation of the Trusts' net charge-off rate annualized on a 30/360 day count basis, as compared to an actual/actual day count basis for the total portfolio.
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14 May 2024 and is solely responsible for the information contained therein. Distributed by
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14 May 2024 20:45:16 UTC.
Discover Financial Services specializes in the emission and marketing of credit cards. The group's activity is organized primarily around 3 areas:
- sales of payment cards;
- electronic payment services;
- financial services: consumer credit, student loans, etc.