Credit Card Delinquencies Reach 11-Year Low

October 4, 2012, Written By John H. Oldshue
Credit Card Delinquencies Reach 11-Year Low

More Americans are making their credit card payments on time.

Credit card delinquencies fell to 2.93 percent in the second quarter, the lowest level since 2001, according to the American Bankers Association. This marks the first time the rate has been below 3 percent in that 11-year period. The rate is down from 3.08 percent in the first quarter.

A delinquent account is any credit card account that is 30 or more days overdue.

Paying their bills on time means cardholders are more financially prudent, avoiding late fee charges. It may also be an indication that consumers are in better financial shape as the holiday shopping season begins, a time when spending and debt usually increases.

Meanwhile, delinquencies rose on home improvement loans, home equity loans and home equity lines of credit.

The information contained within this article was accurate as of October 4, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
View all posts by John H. Oldshue