On Air Now

Current Show

Coast to Coast AM   12:00 AM - 5:00 AM

Call Coast to Coast now at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
47° Feels Like: 42°
Wind: NW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 41°

Tomorrow

Sunny 65°

Tues Night

Clear 46°

Alerts

U.S. credit card defaults rise to record: Moody's

</head> <body> <p>NEW YORK (Reuters) - The U.S. credit card charge-off rate rose to a record high in August, as more Americans lost their jobs, Moody's Investors Service said on Wednesday, in another sign consumers remain under stress.</p> <p>The Moody's credit card charge-off index -- which measures credit card loans that banks do not expect to be repaid -- rose to 11.49 percent in August from 10.52 percent in July.</p> <p>The index resumed an upward trend after declining in July for the first time in almost a year, vanishing hopes of stabilization in the industry after record high credit losses.</p> <p>"We continue to call for a recovery of the credit card sector to begin once industry average charge-offs peak in mid-2010 between 12 percent and 13 percent," Moody's said in a report.</p> <p>Credit card losses usually follow the trend of unemployment, which rose in August to 9.7 percent, the highest level in 26 years. Moody's estimated unemployment will peak next year at 10 percent to 10.5 percent.</p> <p>The Moody's index showed credit card delinquencies -- payments more than 30 days late -- rose to 5.80 percent in August from 5.73 percent in July.</p> <p>"Even early-stage delinquencies rose, ending a trend of four consecutive months of improvement," Moody's said in a report.</p> <p>Data released by companies earlier this month based on the performance of credit card loans that were securitized showed defaults rose to record highs at Bank of America Corp <BAC.N> and Citigroup Inc <C.N>, among some of the biggest card issuers.</p> <p>Both Citigroup and Bank of America hold the highest exposure to riskier credit card borrowers.</p> <p>However, American Express Co <AXP.N> and Capital One Financial Corp <COF.N> posted monthly declines in chargeoffs.</p> <p>(Reporting by Juan Lagorio; Editing by Richard Chang)</p> </body> </html> </div><!-- end article-body --> </div><!-- end aticle-body-wrapper --> <aside> <ul class="social-share-btns clearfix"> <li><g:plusone size="medium" href="http://wkzo.com/news/articles/2009/sep/23/us-credit-card-defaults-rise-to-record-moodys/"></g:plusone></li> <li><div id="fb-root"></div><script src="http://connect.facebook.net/en_US/all.js#appId=112315878855956&xfbml=1"></script><fb:like href="http://wkzo.com/news/articles/2009/sep/23/us-credit-card-defaults-rise-to-record-moodys/" action="recommend" send="true" layout="button_count" width="150" show_faces="false" font=""></fb:like></li> <li><a href="http://twitter.com/share" class="twitter-share-button" data-url="http://wkzo.com/news/articles/2009/sep/23/us-credit-card-defaults-rise-to-record-moodys/" data-text="U.S. credit card defaults rise to record: Moody's" data-count="horizontal">Tweet</a><script type="text/javascript" src="http://platform.twitter.com/widgets.js"></script></li> </ul><!-- end social-share-btns --> </aside> </div><!-- end article-container --> <section class="clearfix text-ad-container"><div class="text-ad"></div><div class="text-ad"></div><div class="text-ad"></div></section> <div id='taboola-below-main-column'></div> <script type="text/javascript"> window._taboola = window._taboola || []; _taboola.push({mode:'thumbs-2r', container:'taboola-below-main-column', placement:'below-main-column'}); </script> <div id='taboola-text-2-columns'></div> <script type="text/javascript"> window._taboola = window._taboola || []; _taboola.push({mode:'text-links-5r', container:'taboola-text-2-columns', placement:'text-2-columns'}); </script> <script> window._taboola = window._taboola || []; _taboola.push({flush:true}); </script> <section class="comment-container"> <h1 class="h2 visuallyhidden">Comments</h1> <a href="/news/articles/2009/sep/23/us-credit-card-defaults-rise-to-record-moodys/#disqus_thread"></a> <div id="disqus_thread" class="section-widget"></div> <script type="text/javascript"> var disqus_shortname = 'wkzo'; var disqus_title = 'U.S. credit card defaults rise to record: Moody's'; var disqus_url = 'http://wkzo.com/news/articles/2009/sep/23/us-credit-card-defaults-rise-to-record-moodys/'; (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = 'http://' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); </script> </section><!-- end comment-container --> </article> </div><!-- end of col-1 --> <div id="col-2"> <form class="section-search-form clearfix" method="get" action="/search/"> <fieldset class="clearfix"> <input class="section-search" type="text" rel="Search News" name="q" placeholder="Search News" /> <input class="section-search-submit" type="image" alt="Search" src="http://static.mwcradio.com/images/icons/section-search.gif" /> </fieldset> </form> <div class="ad-300x250"></div> <aside class="aside-module top-stories"> <h1>Top Stories</h1> <ul class="unstyled-list single-col-list"> <li><a href="/news/articles/2014/sep/21/lions-defeat-green-bay-despite-injuries/" title="Full Article: Lions defeat Green Bay despite injuries">Lions defeat Green Bay despite injuries</a></li> <li><a href="/news/articles/2014/sep/21/no-sweep-of-royals-for-tigers/" title="Full Article: No sweep of Royals for Tigers">No sweep of Royals for Tigers</a></li> <li><a href="/news/articles/2014/sep/22/kalamazoo-armed-robber-tries-two-heists-in-one-day/" title="Full Article: Kalamazoo armed robber tries two heists in one day">Kalamazoo armed robber tries two heists in one day</a></li> <li><a href="/news/articles/2014/sep/22/fire-at-interfaith-homes-quickly-extinguished/" title="Full Article: Fire at Interfaith homes quickly extinguished. ">Fire at Interfaith homes quickly extinguished. </a></li> <li><a href="/news/articles/2014/sep/22/single-car-crash-leaves-two-passengers-in-critical-condition/" title="Full Article: Single car crash leaves two passengers in critical condition">Single car crash leaves two passengers in critic...</a></li> </ul> </aside> <div class="text-ad"></div> <nav class="aside-module"> <h1>News Sections</h1> <ul class="unstyled-list two-col-list clearfix"> <li><a href="/news/sections/local/" title="Local News Section">Local</a></li> <li><a href="/news/sections/state/" title="State News Section">State</a></li> <li><a href="/news/sections/national/" title="National News Section">National</a></li> <li><a href="/news/sections/world/" title="World News Section">World</a></li> <li><a href="/news/sections/localsports/" title="Local Sports News Section">Local Sports</a></li> <li><a href="/news/sections/sports/" title="National Sports News Section">National Sports</a></li> <li><a href="/news/sections/politics/" title="Politics News Section">Politics</a></li> <li><a href="/news/sections/business/" title="Business News Section">Business</a></li> <li><a href="/news/sections/health/" title="Health News Section">Health</a></li> <li><a href="/news/sections/science/" title="Science News Section">Science</a></li> <li><a href="/news/sections/technology/" title="Technology News Section">Technology</a></li> <li><a href="/news/sections/entertainment/" title="Entertainment News Section">Entertainment</a></li> </ul> </nav> <div class="text-ad"></div> <div class="ad-300x250"></div> <aside id="recentcomments" class="aside-module dsq-widget sidebar-comments"> <h1 class="dsq-widget-title">Recent Comments</h1> <script type="text/javascript" src="http://wkzo.disqus.com/recent_comments_widget.js?num_items=3&hide_avatars=0&avatar_size=32&excerpt_length=200"></script> </aside> <div class="text-ad"></div> </div><!-- end col-2 --> </div><!-- end page-content-wrapper-inner --> </div><!-- end page-content-wrapper-outer --> <div id="site-footer-wrapper"> <footer id="site-footer" class="clearfix"> <ul class="footer-list footer-bucket"> <li><a href="http://static.mwcradio.com/pdf/footer-files/privacy.pdf" title="Privacy Policy">Privacy Policy (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/termsofuse.pdf" title="Terms of Use">Terms of Use (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/contestrules.pdf" title="Contest Rules">Contest Rules (PDF)</a></li> <li><a href="http://static.mwcradio.com/pdf/footer-files/contest-rules-addendumC.pdf" title="Contest Rules - Addendum C">Contest Rules - Addendum C (PDF)</a></li> </ul> <ul class="footer-list footer-bucket"> <li><a href="/advertise/" title="Advertise With Us">Advertisers</a></li> <li><a href="http://www.midwestcareers.com/" title="Midwest Careers">Employment</a></li> <li><a href="/eeo/" title="EEO">EEO</a></li> </ul> <div class="footer-bucket"> <ul class="footer-list footer-social-list"> <li> <a href="http://facebook.com/WKZO590AM" title="AM 590 WKZO on Facebook"> <img src="http://static.mwcradio.com/images/icons/facebook20.png" alt="Facebook" /> Facebook </a> </li> <li> <a href="http://twitter.com/WKZONews" title="AM 590 WKZO on Twitter"> <img src="http://static.mwcradio.com/images/icons/twitter20.png" alt="Twitter" /> Twitter </a> </li> </ul><!-- end social links --> <ul class="footer-list footer-bucket"> <li> <a href="https://play.google.com/store/apps/details?id=com.midwestcommunications.wkzoam&feature=search_result#?t=W251bGwsMSwyLDEsImNvbS5taWR3ZXN0Y29tbXVuaWNhdGlvbnMud2t6b2FtIl0." title="Download Our Android App"> <img src="http://static.mwcradio.com/images/icons/android20.png" alt="Android" /> Listen on Android </a> </li> <li> <a href="https://itunes.apple.com/us/app/wkzo-am-590-fm-96.5/id634060235?mt=8" title="Download Our iOS App"> <img src="http://static.mwcradio.com/images/icons/apple20.png" alt="Apple" /> Listen on iPhone/iPad </a> </li> </ul> </div> <ul class="footer-list footer-bucket contact-info"> <li>© 2014 AM 590 WKZO</li> <li>Call Letters: WKZO</li> <li><span class="frequency-location">590 AM Kalamazoo, MI</span></li> <li>Studio Line 1: 269-382-4280</li> <li>Text Us at 80373</li> <li><a href="/contact-us/" title="Contact Us">Contact Us</a></li> </ul> </footer> </div><!-- end footer-wrapper --> <script src="https://ajax.googleapis.com/ajax/libs/mootools/1.4.5/mootools-yui-compressed.js"></script> <script src="http://static.mwcradio.com/js/mootools-more-1.4.0.1.js"></script> <script src="http://static.mwcradio.com/apps/nowplaying/js/jug-application.js"></script> <script src="http://content.aimatch.com/swfobject.js"></script> <script src="https://apis.google.com/js/plusone.js"></script> <script src="http://static.mwcradio.com/js/mwc.js?5"></script> <script src="http://static.mwcradio.com/datepicker/Locale.en-US.DatePicker.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.Attach.js"></script> <script src="http://static.mwcradio.com/datepicker/Picker.Date.js"></script> <!--[if lt IE 7 ]> <script src="//ajax.googleapis.com/ajax/libs/chrome-frame/1.0.2/CFInstall.min.js"></script> <script>window.attachEvent("onload",function(){CFInstall.check({mode:"overlay"})})</script> <![endif]--> <script src="http://static.mwcradio.com/js/lightface/LightFace.js"></script> <script src="http://static.mwcradio.com/apps/scoop/js/article_details.js" type="text/javascript"></script> </body> </html>