Credit card ABS excess spread has fallen to levels not seen in ten years, according to the latest Credit Card Indexes report from Fitch Ratings. The rating agency added that U.S. consumers are still falling behind and defaulting on their credit cards.

The results show the three-month excess spread index falling below the 5% threshold, which has not occurred since November 1998.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.