01—Abstract
Summary
Summary of the 8-K filed June 9, 2026. Cited figures are marked; the original filing is the authoritative source.
Synchrony Financial furnished Exhibit 99.1 under Item 7.01 of this Form 8-K, presenting its monthly charge-off and delinquency statistics for the thirteen months ended May 31, 2026.
The data is unaudited and reported in billions of dollars. For May 2026, period-end loan receivables were $101.7 billiona, compared with $99.9 billion at May 31, 2025, and average loan receivables, including held for sale, were $100.6 billion. Credit metrics for May 2026 were a 30+ delinquency rate of 4.2%, the same as May 2025.
The net charge-off rate was 5.5%b, up from 5.1% a year earlier, and the adjusted net charge-off rate, which includes a recovery adjustment of (0.1)%, was 5.4%, compared with 5.2% in May 2025. Over the period, the net charge-off rate was highest in February and March 2026 at 5.8% each, and lowest in January 2026 at 4.7%. The 30+ delinquency rate peaked at 4.7% in February 2026 and has since declined to 4.2% in May 2026.
The company states that it intends to furnish these statistics monthly, with the statistics for the last month of each calendar quarter released alongside its quarterly financial results. The filing notes that charge-off cycle dates vary by month, which can cause charged-off amounts to shift between periods without a corresponding change in portfolio performance. Consumer credit card loan receivables represent greater than 90%c of total period-end loan receivables at May 31, 2026.
02—Key points
Key Highlights
- May 2026 net charge-off rate of 5.5%, up from 5.1% in May 2025; adjusted net charge-off rate of 5.4% versus 5.2% a year earlier.
- May 2026 30+ delinquency rate of 4.2%, unchanged from May 2025 and down from 4.7% at its February 2026 peak.
- Period-end loan receivables of $101.7 billion at May 31, 2026, versus $99.9 billion at May 31, 2025.
- Average loan receivables, including held for sale, of $100.6 billion for May 2026.
- Net charge-off rate peaked at 5.8% in both February and March 2026 and was 4.7% in January 2026.
- Consumer credit card loan receivables account for greater than 90% of total period-end loan receivables.
- Monthly statistics will continue to be furnished, with quarter-end month data released alongside quarterly earnings.
03—Questions
Frequently Asked Questions
How did Synchrony's net charge-off rate in May 2026 compare with May 2025?
The net charge-off rate was 5.5% in May 2026, compared with 5.1% in May 2025. The adjusted net charge-off rate, which includes a recovery adjustment, was 5.4% in May 2026 versus 5.2% in May 2025.
Has the 30+ delinquency rate changed recently?
The 30+ delinquency rate was 4.2% in May 2026, the same as in May 2025. It peaked at 4.7% in February 2026 and declined in each subsequent month shown, reaching 4.2% in May 2026.
What is the size of Synchrony's loan portfolio?
Period-end loan receivables were $101.7 billion at May 31, 2026, up from $99.9 billion at May 31, 2025. Average loan receivables, including held for sale, were $100.6 billion for May 2026. Consumer credit card receivables represent greater than 90% of period-end loan receivables.
Why can monthly charge-off figures fluctuate without a change in portfolio performance?
Charge-offs are executed on charge-off cycle dates that occur on various days each month, and the number of cycle dates varies with the calendar and billing cycles. The filing notes that May 2026 had 28 cycle dates for consumer credit card receivables, compared with 25 in May 2025, and that such differences can shift charged-off amounts between months.
When will Synchrony release these statistics in the future?
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 its announcement of quarterly financial results.
04—Continue