New report shows more credit card users paying on time

Tuesday, April 2, 2013 - 8:46am

More credit card users are paying their bills on time. An American Bankers Association report released today (Tuesday) finds about two-and-a-half percent (2.47%) of bank-issued credit card accounts were delinquent in the fourth quarter of last year. That's the lowest level since 19-94.

Compare that to the record high of just over five percent (5.01%) in 2009, when twice as many card holders had payments at least 30 days overdue. Bank-card delinquencies fell throughout the year last year -- and analysts say that's a sign more consumers are trying to pay down their debt.

Late payments also fell in home equity loans, home improvement loans and third-party auto loans, according to the A-B-A report.


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