April 2026 credit trends at Bread Financial (NYSE: BFH) detailed
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Bread Financial Holdings, Inc. released a performance update for April 2026, highlighting credit card and other loan trends. End-of-period credit card and other loans were $18,123 million, with average loans of $18,067 million, and average balances rising 2.0% year over year.
Net principal losses were $105 million, resulting in a net principal loss rate of 7.09%, compared with 7.85% a year earlier. As of April 30, 2026, 30-days-plus delinquencies were $859 million on period-end loans of $16,087 million, for a delinquency rate of 5.34% versus 5.73% in April 2025.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
End-of-period credit card and other loans: $18,123 million
Average credit card and other loans: $18,067 million
YoY change in average loans: 2.0%
+4 more
7 metrics
End-of-period credit card and other loans
$18,123 million
For the month ended April 30, 2026
Average credit card and other loans
$18,067 million
For the month ended April 30, 2026
YoY change in average loans
2.0%
Average credit card and other loans vs April 2025
Net principal losses
$105 million
For the month ended April 30, 2026
Net principal loss rate
7.09%
For the month ended April 30, 2026
30+ day delinquencies – principal
$859 million
As of April 30, 2026
Delinquency rate
5.34%
As of April 30, 2026
Key Terms
Net principal loss rate, Delinquency rate, 30 days + delinquencies – principal, Allowance for credit losses, +1 more
5 terms
Net principal loss rate financial
"The following tables present the Company’s Net principal loss rate and Delinquency rate for the periods indicated"
Net principal loss rate measures the percentage of original loan or investment principal that investors actually lose after accounting for recoveries, collections, or collateral sales. It matters because it shows the real hit to capital from defaults — like knowing how much of the original bill you never get back after trying to collect — and helps investors judge credit risk and expected losses across a portfolio.
Delinquency rate financial
"The following tables present the Company’s Net principal loss rate and Delinquency rate for the periods indicated"
The delinquency rate measures the share of loans or credit accounts with payments past their due date, usually expressed as a percentage of the total loan balance or number of accounts. It matters to investors because rising delinquency rates are an early warning that borrowers are struggling, which can lead to higher losses, tighter lending and weaker profits for banks, lenders and investors in loan-backed securities — like seeing more people miss car payments in a town.
30 days + delinquencies – principal financial
"30 days + delinquencies – principal | $ | 859"
30 days + delinquencies – principal measures the amount of loan principal that is overdue by 30 days or more. For investors, it’s a snapshot of borrowers falling behind on repayments and signals higher risk of future losses or slower cash flow; think of it as the portion of a landlord’s rent that hasn’t been paid for a month, indicating potential trouble collecting full payments later.
Allowance for credit losses financial
"including our credit risk management models and the amount of our Allowance for credit losses"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Forward-looking statements regulatory
"This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address and Zip Code of Principal Executive Offices)
(614 ) 729-4000
(Registrant’s Telephone Number, including Area Code)
NOT APPLICABLE
(Former name or former address, if changed since last report)☐
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 7.01 Regulation FD Disclosure.
On May 15, 2026 , Bread Financial Holdings, Inc. issued a press release providing a performance update as of and for the period ended April 30, 2026. A copy of this press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
| Exhibit No. | Document Description | |||||||
99.1 | Press release dated | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
The information contained in this report (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Bread Financial Holdings, Inc. | ||||||||
Date: May 15, 2026 | By: | /s/ Joseph L. Motes III | ||||||
| Joseph L. Motes III Executive Vice President, Chief Legal and Administrative Officer, and Secretary | ||||||||
Exhibit 99.1
BREAD FINANCIAL PROVIDES
PERFORMANCE UPDATE FOR APRIL 2026
COLUMBUS, Ohio, May 15, 2026 – 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 principal loss rate and Delinquency rate for the periods indicated:
| For the month ended April 30, 2026 | For the month ended April 30, 2025 | ||||||||||
(dollars in millions) | |||||||||||
End-of-period credit card and other loans | $ | 18,123 | $ | 17,721 | |||||||
Average credit card and other loans | $ | 18,067 | $ | 17,712 | |||||||
Year-over-year change in average credit card and other loans | 2.0 | % | (1.6 | %) | |||||||
Net principal losses (1) | $ | 105 | $ | 114 | |||||||
Net principal loss rate (1) | 7.09 | % | 7.85 | % | |||||||
| As of April 30, 2026 | As of April 30, 2025 | ||||||||||
(dollars in millions) | |||||||||||
30 days + delinquencies – principal | $ | 859 | $ | 933 | |||||||
Period ended credit card and other loans – principal | $ | 16,087 | $ | 16,264 | |||||||
Delinquency rate | 5.34 | % | 5.73 | % | |||||||
______________________________________________________
(1)As a result of hurricanes Helene and Milton in September and October 2024, we froze delinquency progression in the fourth quarter of 2024 for cardholders in Federal Emergency Management Agency identified impact zones for one billing cycle, which resulted in modestly lower Net principal losses and Net loss rate in the fourth quarter of 2024, and consequently these actions negatively impacted Net principal losses and Net loss rate in the second quarter of 2025.
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 deliver growth for some of the most recognized brands in travel and entertainment, specialty apparel, health and beauty, jewelry, sporting goods, technology and electronics, as well as home and furniture through our co-brand and private label credit cards and pay-over-time products providing choice and value to our shared customers. Additionally, we offer Bread Financial general purpose credit cards and saving products that empower our customers and their passions for a better life.
Bread Financial proudly marks 30 years of success in 2026. To learn more about our global associates, our performance and our sustainability progress, visit breadfinancial.com or follow us on Instagram and LinkedIn.
Bread Financial Holdings, Inc.
May 15, 2026
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 events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and consequently any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts, and international tensions or hostilities; local or global public health issues, climate-related events, impacts to the power grid, and natural disasters; future credit performance, including the level of future delinquency and charge-off rates; loss of, or reduction in demand for services and/or products 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 our credit risk management models and the amount of our Allowance for credit losses; 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, executive action, 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 that would place limits on credit card interest rates or late fees, interchange fees or other charges; 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 liability or other 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, including the pending litigation against us in connection with the spinoff. 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
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Bread Financial Holdings, Inc.
May 15, 2026
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.
| Contact: | Investors/Analysts | ||||
| Brian Vereb | |||||
| Brian.Vereb@BreadFinancial.com | |||||
| Susan Haugen | |||||
| Susan.Haugen@BreadFinancial.com | |||||
| Media | |||||
| Rachel Stultz | |||||
| Rachel.Stultz@BreadFinancial.com | |||||
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FAQ
What credit card loan balances did Bread Financial (BFH) report for April 2026?
Bread Financial reported end-of-period credit card and other loans of $18,123 million for April 30, 2026. Average credit card and other loans during the month were $18,067 million, reflecting a 2.0% year-over-year increase in average balances compared with April 2025.
How did Bread Financial’s (BFH) net principal loss rate change in April 2026?
In April 2026, Bread Financial’s net principal loss rate was 7.09%, compared with 7.85% in April 2025. Net principal losses were $105 million, down from $114 million a year earlier, indicating lower loss experience on the loan portfolio for the month.
What delinquency rate did Bread Financial (BFH) report as of April 30, 2026?
As of April 30, 2026, Bread Financial reported a delinquency rate of 5.34% on credit card and other loans. This was based on $859 million of 30-days-plus delinquencies and $16,087 million of period-end loans, compared with a 5.73% delinquency rate in April 2025.
How did Bread Financial’s (BFH) April 2026 net principal losses compare to April 2025?
Net principal losses for April 2026 totaled $105 million, versus $114 million in April 2025. The associated net principal loss rate declined from 7.85% to 7.09%, showing lower losses relative to average credit card and other loan balances during the month.
What key risk considerations did Bread Financial (BFH) highlight in this update?
Bread Financial referenced broad risks including macroeconomic conditions, regulatory and legal actions, competition, credit performance, operational and cybersecurity risks, and impacts from prior strategic actions. These factors could cause future results to differ materially from forward-looking statements and are detailed further in its Form 10-K and Form 10-Q risk discussions.