Monday, November 23, 2009

Credit card delinquencies improve

Wile this may not signal great times are here, it's definitely a positive sign that Americans are not falling behind on credit card debt.
For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.

The delinquency rate on bank-issued cards like those bearing MasterCard and Visa logos fell to 1.1 percent for the June-to-September period, from a rate of 1.17 percent in the prior three months, according to credit reporting agency TransUnion.

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