Jan. card payments wobble, but trend is positive

NEW YORK (AP) -- The nation's six biggest credit card companies say they had mixed results for customer payments in January, splitting evenly between those that had lower defaults and those with increased write-off rates.

But even with the small upticks, analysts say the long-term trends point to continued improvements as the companies keep tight reins on problem customers and remain cautious about lending.

Standing out among the pack is Discover Financial Services, which reported a sharp drop in defaults, and has recovered from the impact of the recession faster than its peers. That reflects improved collection practices and more careful lending. Only American Express has lower rates, but it also has a more affluent customer base to rely on.

Bank of America currently has the card industry's highest default and late payment rates.