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Measuring credit card industry chargeoffs: a review of sources and methods

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  • Mark Furletti

Abstract

The percentage of credit card loans that are charged off by card issuers during a particular month or quarter is an important metric. It provides insights into the financial health of the credit card industry and the U.S. consumer. After offering a brief overview of credit card chargeoff reporting, this paper describes five different chargeoff statistics in detail. Sampling techniques, frequency, availability, and calculation methods for each statistic are discussed and compared. One of the paper?s key findings is that the various on-balance-sheet and off-balance-sheet chargeoff measures, after moving in the same general direction for almost a decade, have recently diverged and become less correlated.

Suggested Citation

  • Mark Furletti, 2003. "Measuring credit card industry chargeoffs: a review of sources and methods," Consumer Finance Institute discussion papers 03-15, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpdp:03-15
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/consumer-finance/discussion-papers/MeasuringChargeoffs_092003.pdf
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    Cited by:

    1. Igor Livshits & James MacGee & Michèle Tertilt, 2010. "Accounting for the Rise in Consumer Bankruptcies," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(2), pages 165-193, April.
    2. Massoud, Nadia & Saunders, Anthony & Scholnick, Barry, 2011. "The cost of being late? The case of credit card penalty fees," Journal of Financial Stability, Elsevier, vol. 7(2), pages 49-59, June.

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    Keywords

    Credit cards;

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