Replies to post #114 on Synchrony Financial (SYF)

[Talc Moan]

There are around 15 million more consumers with credit scores above 740 today than there were in 2006, and about 15 million fewer consumers with scores below 660, according to Moody’s.

SYF Consumer Credit Score is 716 with 80 Million accounts how many are credit worthy when things get tough? Time shall tell but Q2 Delinquencies could breach 5%

[Talc Moan]

Did i Say SYF deliquencies were going to sky rocket..

Amazon’s partner on this financial product is the dominant private-label card issuer, Synchrony Bank. Its most recent earnings report showed more evidence of a rise in retail-card delinquencies. The company’s second quarter charge-off rate — the percentage of loans a firm gives up on collecting — rose to 6.01% compared to 5.97% last year; excluding the PayPal PYPL, -1.14% credit program and the Walmart WMT, -0.79% portfolio.

https://www.marketwatch.com/story/retail-credit-cards-are-squeezing-the-financially-vulnerable-as-their-delinquency-rate-rises-how-to-avoid-this-mistake-2019-09-05

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