Declines in credit card charge-offs to reverse--Moody's

Moody's Investors Service expects recent declines in credit card charge-offs to reverse course in the coming year as delinquencies climb higher and drives charge-offs to their peaks by mid-2010.

The charge-off rate measures those credit card account balances written off as uncollectable by credit card firms.

Moody's October credit card index showed a drop to 10.04 percent in the charge-off rate, below the 11.49 percent all-time high set in August.

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- Posted: 2009-11-23 15:05:56

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