The U.S. bank and non-bank credit card issuer performance remains well within ratings expectations, with growing credit card balances amid increased discretionary spending and higher inflation not yet viewed as a sign of stress for U.S. consumers, Fitch Ratings says in a new research report. Credit performance for the largest credit card issuers has been exceptionally strong over the past two years, with chargeoffs for most issuers at multidecade lows and tracking at roughly half of 2019 levels. Higher consumer spending and leverage, driven higher by higher inflation, is not expected to result in a material increase ... (full story)