Despite rising credit card delinquencies nationally, major banks like JPMorgan Chase, Bank of America, and Wells Fargo reported low, single-digit rates in the low single-digits and even down from the previous year.

This contrasts with Federal Reserve Bank of New York data showing 13% of credit card balances were 90 days or more delinquent in the first quarter. Banks attribute their resilience to focusing on prime and super-prime consumers, who generally have stronger financial pictures.

For instance, Citigroup reported that about 86% of its balances are extended to consumers with FICO scores of 660 or higher. Banks have also tightened lending standards, further contributing to the disconnect between overall delinquency trends and their own performance.