Discover and Synchrony net charge-offs keep climbing higher

Bad loan write-offs projected to rise further in 2024 as credit quality deteriorates

The proportion of loans written off as unrecoverable rose to multi-year highs at Discover and Synchrony in the last quarter of 2023, as higher interest rates continued to hit both US consumer banks.

Net charge-off (NCO) rates rose 59 basis points to 4.11% at Discover, the highest such figure for the bank since 2011, and 98bp to 5.58% at Synchrony, its zenith since 2019.

!function(e,n,i,s){var d="InfogramEmbeds";var o=e.getElementsByTagName(n)[0];if(window[d]&&window[d].initialized)window[d]

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here