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A recent report from the credit rating company Moody’s showed that credit card delinquency rates and charge-off rates, or the percent of loans that a bank believes will never be repaid, are now well above their 2019 levels and are expected to keep climbing.

At Synchrony Bank, the largest issuer of retail co-brand credit cards, the charge-off rate jumped from 3.5% to 5.6% in a year.

Meanwhile, the charge-off rates and 30-day delinquency rates have climbed.

AmEx’s net charge-off rate last quarter was 2%, up from 1.2% a year earlier.

The net charge-off rate for loans no longer expected to be repaid fell to 0.19%, the lowest level on record.