01—Abstract
Summary
Summary of the 8-K filed October 15, 2025. Cited figures are marked; the original filing is the authoritative source.
Synchrony Financial furnished its monthly charge-off and delinquency statistics for the thirteen months ended September 30, 2025 under Item 7.01 (Regulation FD) of this Form 8-K.
The information is furnished, not filed, and is not incorporated by reference into other filings. As of September 30, 2025, period-end loan receivables were $100.2 billiona, compared with $102.2 billion at September 30, 2024. Average loan receivables for September 2025 were $100.1 billion.
Credit metrics for September 2025 were a 30+ day delinquency rate of 4.4%b, down from 4.8% a year earlier, and a net charge-off rate of 5.3%. After a recovery adjustment of (0.2)%, the adjusted net charge-off rate was 5.1%. The filing notes that the recovery adjustment allocates recoveries, including debt sales, evenly across the months of each quarter and that quarterly estimates may change.
Net charge-off rates for the prior months are also shown, including an adjusted rate of 5.7%c for June 2025 and 6.7% for November 2024. The company states it will continue furnishing these statistics monthly. For the last month of each calendar quarter, the statistics will be released alongside its quarterly financial results.
The filing also notes that charge-offs are executed on cycle dates that vary by month, so monthly charged-off amounts can fluctuate without a corresponding change in portfolio performance. Consumer credit card loans represent more than 90%d of period-end loan receivables at September 30, 2025.
02—Key points
Key Highlights
- Period-end loan receivables were $100.2 billion at September 30, 2025, versus $102.2 billion at September 30, 2024.
- The 30+ day delinquency rate was 4.4% for September 2025, compared with 4.8% for September 2024.
- The net charge-off rate was 5.3% for September 2025, and the adjusted net charge-off rate, which includes a recovery adjustment, was 5.1%.
- The adjusted net charge-off rate was 5.3% in August 2025, 5.1% in July 2025, and 5.7% in June 2025.
- Consumer credit card loans represent greater than 90% of total period-end loan receivables at September 30, 2025.
- Synchrony will continue to publish these statistics monthly, with quarter-end month figures released alongside quarterly earnings.
- Monthly charge-off amounts can vary with the number of charge-off cycle dates in each month, independent of portfolio performance.
03—Questions
Frequently Asked Questions
What did Synchrony report for credit quality in September 2025?
The 30+ day delinquency rate was 4.4% and the net charge-off rate was 5.3%. After the recovery adjustment, the adjusted net charge-off rate was 5.1%.
How did period-end loan receivables change?
Period-end loan receivables were $100.2 billion at September 30, 2025, compared with $102.2 billion at September 30, 2024. Average loan receivables for September 2025 were $100.1 billion.
What is the recovery adjustment in the adjusted net charge-off rate?
It allocates recoveries, including debt sales, evenly across the three months of each quarter. For non-quarter-end months, it uses estimated quarterly recoveries, which are subject to change and may differ from actual quarterly results.
Why can monthly charge-off figures fluctuate?
Charge-offs occur on cycle dates that fall on different days each month, depending on the calendar and billing cycle timing. The filing states that charged-off amounts can therefore vary between months even when portfolio performance has not changed.
When will Synchrony release these statistics going forward?
The company intends to furnish the statistics monthly. For the last month of each calendar quarter, they will be released together with the company's quarterly financial results.
04—Continue