Credit trends stable

Further improvements in delinquency rates are getting harder to come by, according to July data on Target’s credit card segment. After steady improvement since the beginning of the year, the delinquency rate for accounts 60 days past due increased to 5% in July from 4.9% in June. The July figure is still well below the 6.1% delinquency rate reported in February. Accounts 90 days past due continued to decline as a percentage of the receivables portfolio, dropping to 3.5% in July from 3.6% in June and a peak of 4.5% in February.