Bread Financial Provides Performance Update for September 2025

Rhea-AI Summary

Bread Financial (NYSE: BFH) provided a September 30, 2025 performance update with portfolio and credit metrics for the month and quarter.

Key figures: end-of-period loans $17,655M, average loans $17,605M (month) and $17,596M (quarter), net principal losses $101M for September and $328M for the three months ended September 30, 2025. Reported net loss rate 6.9% for the month and 7.4% for the quarter. Delinquencies improved year-over-year with 30+ day delinquencies $963M and a delinquency rate 6.0% as of September 30, 2025 versus 6.4% a year earlier.

Positive

• Delinquency rate improved to 6.0% vs 6.4% year-ago
• Month net loss rate down to 6.9% (versus quarter 7.4%)

Negative

• Quarter net principal losses of $328M
• Net loss rate remained elevated at 7.4% for the quarter
• Average credit card loans declined ~1–2% year-over-year

COLUMBUS, Ohio, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated:

	For the month ended September 30, 2025				For the three months ended September 30, 2025
	(dollars in millions)
End-of-period credit card and other loans	$	17,655			$	17,655
Average credit card and other loans	$	17,605			$	17,596
Year-over-year change in average credit card and other loans		(2	%)			(1	%)
Net principal losses	$	101			$	328
Net loss rate		6.9	%			7.4	%

	As of September 30, 2025				As of September 30, 2024
	(dollars in millions)
30 days + delinquencies – principal	$	963			$	1,062
Period ended credit card and other loans – principal	$	15,928			$	16,476
Delinquency rate		6.0	%			6.4	%

About Bread Financial^®   
Bread Financial^® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.  
  
To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.  

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts and natural disasters; future credit performance, including the level of future delinquency and write-off rates; loss of, or reduction in demand for services from, significant brand partners or customers in the highly competitive markets in which we operate, including competition from new and non-traditional competitors, such as financial technology companies, and with respect to new products, services and technologies, such as the emergence or increase in popularity of agentic commerce, digital payment platforms and currencies and other alternative payment and deposit solutions; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future federal and state legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax or other liability or adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries and subsequent litigation or other disputes. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contacts  
Brian Vereb — Investor Relations  
Brian.Vereb@breadfinancial.com  

Susan Haugen — Investor Relations  
Susan.Haugen@breadfinancial.com  

Rachel Stultz — Media  
Rachel.Stultz@breadfinancial.com  

FAQ

What did Bread Financial (BFH) report for net principal losses in Q3 2025?

Bread Financial reported $328M in net principal losses for the three months ended September 30, 2025.

What was Bread Financial's net loss rate for September 2025 (BFH)?

The net loss rate for the month ended September 30, 2025 was 6.9%.

How did Bread Financial's delinquency rate change year-over-year for September 30, 2025 (BFH)?

The delinquency rate improved to 6.0% as of September 30, 2025 from 6.4% a year earlier.

What were Bread Financial's end-of-period and average loans as of September 30, 2025 (BFH)?

End-of-period credit card and other loans were $17,655M; average loans were $17,605M for the month and $17,596M for the quarter.

Does Bread Financial (BFH) show improving credit trends in September 2025?

Yes; the company reported a lower delinquency rate (6.0% vs 6.4% year-ago) and a lower monthly net loss rate (6.9%) versus the quarter (7.4%).

What does the reported ~1–2% decline in average loans mean for BFH in September 2025?

Average credit card and other loans showed a year-over-year decline of about 1–2%, indicating modest portfolio contraction versus prior year.