NEW YORK - Fitch Ratings said Wednesday the number of credit card defaults surged 1.12 percentage points in January to 11.37 percent, the highest level since a record 11.52 percent in September.
Fitch analysts said the increase was largely driven by a payment holiday for Chase credit cardholders, which pushed more charge-offs into the current period.
The number of cardholders 60 or more days late on payments fell for the second straight month to 4.50 percent, while those 30 days late declined to …
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