Citi credit card delinquency rate rises, net charge-offs fall in October

The Citibank Credit Card Issuance Trust’s delinquency rate for the period ended Oct. 28, 2024, was 1.52%, up from 1.44% in September and 1.39% a year ago. Still, it’s trailing the 1.58% mark logged five years ago, before the pandemic hit.

The trust’s net charge-off rate, meanwhile, retreated to 2.36% from 2.53% in the previous month and increased from 2.07% in the year-earlier period. That’s also below the prepandemic level of 2.61% in October 2019.

Lending activity decreased modestly during the month, the filing showed, with balance principal receivables down to $21.7B at the end of the due period from $21.9B at the beginning of the period.