Bread Financial Holdings reported that its credit card net loss rate in September was slightly lower than it was a year ago while its delinquency rate was higher. The net loss rate for the month ended Sept.
Credit card use is increasing as interest rates rise and excess savings are depleted among low-income groups. Risky buy-now, pay-later firms are facing challenges. Bread Financial is being upgraded from a hold to a buy based on its modest valuation and improved technical situation.
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