4 Perspectives on Credit Card Defaults

Bank of America (BAC), American Express (AXP), JPMorgan Chase (JPM) and Capital One (COF) offered a mixed look at credit card debt.

Bank of America net charge offs — the percentage of loans predicted to default — dropped to 13.3% from 13.5% and American Express’s net charge offs dropped from 7.1% to 7%.

On the flip side, Capital One reported an increase in net charge offs from 10.14% to 10.4%, while JP Morgan’s net charge offs skyrocketed from 7.11% to 10.91%.

Although shares of these stocks are rallying, that’s still a lot of deadbeats to get excited about.