The average 30-plus-day delinquency rate for six major US credit card issuers ticked up in July.

The average rate for American Express Co., Bank of America Corp., Capital One Financial Corp. Citigroup Inc., Discover Financial Services and JPMorgan Chase & Co. was 1.34% in July, a slight increase from June and up 17 basis points from a year earlier, according to S&P Global Market Intelligence data.

Only Discover logged a sequentially flat delinquency rate in July, while the rest posted higher 30-plus-day delinquency rates compared to the previous month. Year over year, only JPMorgan reported a lower delinquency rate, with the metric declining 6 basis points.

"Certain pockets of customers continue to be impacted by persistent inflation and higher interest rates," Citigroup Inc. CFO Mark Mason said during the company's second-quarter earnings call in July. The executive said Citi would continue to watch the phenomenon as the year progresses.

Average annualized net loss rate declines

The average annualized net loss rate for the six card issuers fell to 2.14% in July from 2.23% in June. However, the figure was still up by 48 basis points from a year ago.

The annualized net loss rates of American Express, Bank of America, Capital One and JPMorgan fell sequentially, while those of Citigroup and Discover rose.

In Bank of America's second-quarter earnings call in July, President and CEO Brian Moynihan said he expected the easing up of delinquencies to result in stabilized net credit losses in credit cards in the second half of the year.

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Average master trust portfolio yields rise

The average master trust portfolio yield for the six card issuers rose to 24.83% in July from 24.55% in June, and was up by 64 basis points year over year.

Bank of America, Capital One, Citigroup and Discover posted higher yields month over month, while American Express and JPMorgan booked lower yields.

All six card issuers logged higher yields year over year. American Express posted the biggest rise of 153 basis points, followed by Bank of America with an increase of 129 basis points.