The largest of credit card issuers aren't the only ones seeing the number of monthly delinquencies rise. Target stores announced last week that the company's annualized percentage of write-offs had jumped from 8.7% in July to 10.1% for September ( at total of $668 Million) - quite a large percentage increase in a three month period.

Following other credit card companies, Target has tightened its credit criteria by reducing open lines and increasing the credit criteria to establish a new account. While the 2008 holiday season for retailers appears bleak, issuers like Target don't want to be hit with a double whammy - lower sales and losses on sales due to non-paying customers.
 
William Blair & Co. lowered their earnings estimates on Target based in part on the company's delinquency rate falling sharper versus companies like Citi Bank, Amex, Chase and Discover.