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Citi, listed on the New York Stock Exchange as NYSE:C, disclosed in a regulatory filing dated Thursday that its credit card master trust net charge-off rate surged to 2.65% in January from 2.34% in December. This surpasses the prepandemic net charge-off rate of 2.49% in January 2020.
The delinquency rate for Citibank Credit Card Master Trust I stood at 1.51% for the period ending Jan. 26, 2024, compared with 1.45% in the previous period and 1.58% four years ago.
During the same period, the principal receivables at the end of the due period decreased to $23.2B from $24.2B at the period ended Dec. 26, 2023, highlighting a reduction in lending activity, as indicated by the filing.
