01—Abstract
Summary
Summary of the 8-K filed March 10, 2026. 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 February 28, 2026, under Item 7.01 of Form 8-K (Regulation FD).
The statistics are unaudited and presented in billions of dollars. The company states that it will furnish these statistics monthly, and that for the last month of each calendar quarter they will be furnished alongside its quarterly financial results announcement. For February 2026, period-end loan receivables were $99.9 billiona, down from $101.7 billion in January 2026 and $100.1 billion in February 2025.
The 30+ delinquency rate was 4.7%b, up from 4.6% in January 2026 and equal to the 4.7% reported for February 2025. The net charge-off rate was 5.8%, compared with 4.7% in January 2026 and 6.8% in February 2025. The recovery adjustment for February was zero, so the adjusted net charge-off rate was also 5.8%.
The filing notes that monthly charge-off rates can move with the timing of charge-off cycle dates, which varied between 25 and 30 per month in the periods shown. It also states that consumer credit card loan receivables represent greater than 90%c of total period-end loan receivables at February 28, 2026. Investors should read the monthly figures together with the company's quarterly results, since the recovery adjustment is allocated evenly across each quarter's three months.
02—Key points
Key Highlights
- February 2026 net charge-off rate was 5.8%, up from 4.7% in January 2026 but down from 6.8% in February 2025.
- The 30+ delinquency rate was 4.7% in February 2026, up from 4.6% in January 2026 and matching the 4.7% reported for February 2025.
- Period-end loan receivables were $99.9 billion at February 28, 2026, compared with $101.7 billion at January 31, 2026 and $100.1 billion at February 28, 2025.
- Average loan receivables, including held for sale, were $100.7 billion for February 2026.
- The adjusted net charge-off rate equaled the net charge-off rate in February 2026 because the recovery adjustment was zero for the month.
- Consumer credit card loan receivables represent greater than 90% of total period-end loan receivables at February 28, 2026.
- The company will furnish these statistics monthly, with the quarter-end month figures released alongside quarterly earnings.
03—Questions
Frequently Asked Questions
How did Synchrony's credit quality metrics trend in February 2026?
The 30+ delinquency rate rose slightly to 4.7% from 4.6% in January 2026, and the net charge-off rate rose to 5.8% from 4.7%. Both were lower than the net charge-off rate of 6.8% reported for February 2025, while the delinquency rate was level with the 4.7% reported a year earlier.
Why can monthly charge-off rates fluctuate?
The filing states that charge-offs are executed on charge-off cycle dates, which fall on various days each month. The number of cycle dates varies by month based on the calendar and billing cycle timing, so charged-off balances can change between months without a corresponding change in portfolio performance. February 2026 had 28 cycle dates, the same as February 2025.
What is the adjusted net charge-off rate and how does it differ from the net charge-off rate?
The adjusted net charge-off rate includes a recovery adjustment that allocates recoveries, including debt sales, evenly across the three months of each quarter. The company describes it as a non-GAAP measure that it believes is more indicative of its quarterly and annual net charge-off rates. For February 2026 the recovery adjustment was zero, so both rates were 5.8%.
How much of Synchrony's loan portfolio is consumer credit cards?
The filing states that consumer credit card loan receivables represent greater than 90% of total period-end loan receivables at February 28, 2026.
How often will Synchrony publish these statistics?
The company intends to furnish these statistics monthly. For the last month of each calendar quarter, the statistics will be furnished at the same time as the company announces its financial results for that quarter. The information is furnished under Item 7.01 and is not deemed filed for purposes of Section 18 of the Exchange Act.
04—Continue