Bread Financial (NYSE: BFH) posts 6.8% July loss rate
Rhea-AI Filing Summary
Bread Financial Holdings, Inc. reported July 2026 credit portfolio metrics for its credit card and other loans. For the month ended July 31, 2026, average credit card and other loans were $18,449 million, with end-of-period credit card and other loans of $18,543 million, and a year-over-year increase in average loans of 4.9%.
Net principal losses for July 2026 were $106 million, resulting in a net principal loss rate of 6.80%, improved from 7.63% in July 2025 on $114 million of net principal losses. As of July 31, 2026, 30+ day delinquencies were $876 million on period-end credit card and other loans principal of $16,378 million, producing a delinquency rate of 5.35% versus 5.82% a year earlier.
Positive
- Net principal loss rate for July 2026 improved to 6.80% from 7.63% in July 2025, reflecting a reduction in credit losses year over year.
Negative
- None.
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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
Average credit card and other loans: $18,449 million
Year-over-year change in average loans: 4.9%
Net principal losses: $106 million
+5 more
8 metrics
Average credit card and other loans
$18,449 million
For the month ended July 31, 2026
Year-over-year change in average loans
4.9%
Average credit card and other loans, July 2026 vs July 2025
Net principal losses
$106 million
For the month ended July 31, 2026
Net principal loss rate
6.80%
For the month ended July 31, 2026
Net principal loss rate prior year
7.63%
For the month ended July 31, 2025
30+ day delinquencies – principal
$876 million
As of July 31, 2026
Period-end loans – principal
$16,378 million
Credit card and other loans as of July 31, 2026
Delinquency rate
5.35%
As of July 31, 2026
Key Terms
Net principal loss rate, Delinquency rate, co-brand and private label credit cards, 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"
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"
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.
co-brand and private label credit cards financial
"through our co-brand and private label credit cards and pay-over-time products"
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.
agentic commerce technical
"such as the emergence or increase in popularity of agentic commerce, digital payment platforms"
Agentic commerce is buying and selling driven by autonomous digital agents — such as smart apps, bots, or AI assistants — that act on a person’s or business’s behalf to find, compare, negotiate and execute transactions. Investors should care because these agents can change who controls customer relationships, cut costs and speed up sales like a personal shopper that never sleeps, but they also shift competitive dynamics, data value and regulatory risk for platforms and retailers.
FAQ
What net principal loss rate did Bread Financial (BFH) report for July 2026?
Bread Financial reported a net principal loss rate of 6.80% for July 2026. This compares to 7.63% for July 2025, based on net principal losses of $106 million versus $114 million a year earlier.
How large were Bread Financial’s (BFH) credit card and other loans in July 2026?
For July 2026, Bread Financial’s average credit card and other loans were $18,449 million. End-of-period credit card and other loans were $18,543 million, reflecting a 4.9% year-over-year increase in average loan balances.
What delinquency rate did Bread Financial (BFH) report as of July 31, 2026?
As of July 31, 2026, Bread Financial reported a delinquency rate of 5.35% on its credit card and other loans. This was based on $876 million of 30+ day delinquent principal and $16,378 million of period-end loans principal.
How did Bread Financial’s (BFH) credit metrics change versus July 2025?
Compared with July 2025, Bread Financial’s average loans rose 4.9%, and the net principal loss rate declined to 6.80% from 7.63%. The delinquency rate also decreased, to 5.35% from 5.82% a year earlier.
What were Bread Financial’s (BFH) 30+ day delinquencies in dollar terms for July 2026?
Bread Financial reported $876 million of 30+ day delinquencies (principal) as of July 31, 2026. These delinquencies were measured against $16,378 million in period-end credit card and other loans principal, producing a 5.35% delinquency rate.
What net principal loss dollars did Bread Financial (BFH) report for July 2026?
Net principal losses for July 2026 were $106 million at Bread Financial. In comparison, net principal losses for July 2025 were $114 million, corresponding to net principal loss rates of 6.80% and 7.63%, respectively.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 August 17, 2026 , Bread Financial Holdings, Inc. issued a press release providing a performance update as of and for the period ended July 31, 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: August 17, 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 JULY 2026
COLUMBUS, Ohio, August 17, 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 July 31, 2026 | For the month ended July 31, 2025 | ||||||||||
(dollars in millions) | |||||||||||
End-of-period credit card and other loans | $ | 18,543 | $ | 17,594 | |||||||
Average credit card and other loans | $ | 18,449 | $ | 17,585 | |||||||
Year-over-year change in average credit card and other loans | 4.9 | % | — | % | |||||||
Net principal losses | $ | 106 | $ | 114 | |||||||
Net principal loss rate | 6.80 | % | 7.63 | % | |||||||
| As of July 31, 2026 | As of July 31, 2025 | ||||||||||
(dollars in millions) | |||||||||||
30 days + delinquencies – principal | $ | 876 | $ | 931 | |||||||
Period ended credit card and other loans – principal | $ | 16,378 | $ | 15,983 | |||||||
Delinquency rate | 5.35 | % | 5.82 | % | |||||||
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.
August 17, 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 inflation, interest rates, labor market conditions, financial and capital 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
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Bread Financial Holdings, Inc.
August 17, 2026
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.
| 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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