Discover Financial Services Loans and Charge-off Rates Rise in November 2024

By Bobby Samwell • Saturday, December 14 10:20 • Permanent Link

Discover Financial Services has released its monthly credit card charge-off and delinquency statistics for the twenty-four months ended November 30, 2024. The ending loans for November 2024 stood at $101.3 billion, representing an increase from the previous month's $100.7 billion and a significant jump from the 2023 figure of $100.9 billion.

The average loans for November 2024 were reported at $100.5 billion, up from $100.2 billion in October 2024 and $99.2 billion in November 2023.

The net principal charge-off rate for November 2024 was 5.37%, a notable increase from the previous month's 4.31% and a substantial rise from the 2023 figure of 4.71%.

The delinquency rate (30 or more days) for November 2024 remained unchanged at 3.87% compared to October 2024, but it showed an increase from the 2023 figure of 3.76%.

The market has reacted to these announcements by moving the company's shares 0.2% to a price of $176.0. Check out the company's full 8-K submission here.

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