Analytical Reports on Capital One Financial Corp. and Discover Financial Services - Credit Services Better in July
24 August 2011 - 10:51PM
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Most credit service providers were aided by defaulting on fewer
payments in July despite the recent slowdown in the economic
recovery.
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Capital One Financial Corp., Discover Financial Services and other
companies within the Credit Services industry. This type of
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Discover Financial Services said that in July its customers
defaulted at the lowest rate since prior to the recession. The
company wrote off $54.4 million in uncollectible bills in July, an
improvement over June in which it wrote off $59.4 million.
Similarly, Capital One Financial Corp. said defaults declined to
$169 million in July after reaching $198 million June.
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Capital One Financial Corp. and Discover Financial Services by registering now at
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http://signalwatcher.com/DFS/August242011.php.
In addition to favourable default data, high gas and commodity
prices continue to pressure many consumers to put more expenses on
their credit cards.
Moving forward, July's default reports were a positive sign for
the industry. The effects of the latest economic slowdown may not
appear until August's figures are reported though and these will be
well worth tracking for investors in the credit services
industry.
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