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Authors

Curtis Arnold
Curtis Arnold, Editor-in-Chief
Joe Taylor
Joe Taylor Jr., Reporter
Amber Stubbs
Amber Stubbs, Managing Editor

Credit Card Delinquencies

  • New credit card limits highest since 2009, says Equifax

    Consumer credit cards continued their recovery through the end of September, with a major reporting agency's data showing new credit originations returning to levels last seen three years ago. According to Equifax's latest National Consumer Credit Trends Report, the amount of new credit card limits opened in the first three quarters of 2012 hit $675 [...]

  • Credit card delinquency rates rise for first time in 2012

    Credit card delinquency rates rose for the first time in nearly a year, according to analysts at Fitch Ratings. Combined with rising unemployment figures and concerns about the long term effects of Hurricane Sandy, the report scared investors into a sell-off that affected shares of Capital One and Citi during November. The financial research firm reported [...]

  • Credit card delinquencies down again in July, showing strength in subprime borrowing

    Americans keep getting better at paying their credit card bills on time, according to the results of a new Experian study. Researchers reported that the dollar amount of bank credit card accounts over sixty days delinquent fell 21 percent in July 2012 from the same period a year earlier. Auto loan and mortgage delinquencies also [...]

  • Credit card delinquencies remain at historic lows

    Credit card balances keep creeping up, but researchers from TransUnion say they're still a far cry from pre-recession levels. While Americans carry more debt, their stronger financial habits have shown a five percent decrease in the number of delinquent credit card accounts, according to the credit reporting agency's year-over-year statistics. TransUnion's Trend Data anonymized 27 million [...]

  • 4 billion credit card offers mailed last year

    About 4 billion credit card offers were mailed out to Americans last year, more than any year since 2007 and almost triple the number sent out in 2009, according to analysis from Synovate, a market research firm. The Boston Globe indicates this may be a sign of relaxed lending policies from some of the nation's [...]

  • Credit card delinquency rates drop again, matching Clinton-era lows

    The last time credit card delinquency rates were this low, "Forrest Gump" was on the Oscar trail and a new medical drama called "ER" had just launched on NBC. According to quarterly figures from the Federal Reserve, the percentage of credit card accounts behind on payments during the third quarter of 2011 dropped to 3.47 [...]

  • Credit card companies increase offers to fair-credit borrowers

    Banks have started approving more credit cards for fair credit, even as extended unemployment has caused Americans' average credit scores to drop slightly. That insight comes from TransUnion's quarterly analysis of new credit card applications and credit card delinquencies, released to reporters earlier this month. Although credit card delinquency rates had dropped to historic lows [...]

  • Credit card delinquencies drop to 2006 levels

    Analysts from Fitch Ratings warned investors this month that asset-backed securities tied to major credit card issuers may soon reach performance plateaus. The company's Delinquency Index for the period ending on August 31 has dropped 35 percent from the same period a year ago. Credit card delinquencies return to normal after historic highs During the survey [...]

  • Citi credit card default rates tick upward

    Citigroup reports an increase in the number of defaulted credit card payments in August 2011, the second month in a row that Citibank has seen this figure rise. At the same time, the rate of late payments to Citibank credit cards fell. Citibank defaults on the rise Citibank is known for its range of credit card rewards [...]

  • TransUnion: Credit card delinquencies hit 18-month low

    A recent TransUnion report reveals that credit card delinquency has continued to drop in the second quarter of 2011, marking what now amounts to a year and a half of falling delinquency rates. Although delinquency rates have been dropping for the past six quarters, the improvement in the second quarter of 2011 was still unexpected [...]

  • Experian: Credit card delinquencies drop below 2007 levels

    Experian's latest report on credit card payments in 30 metropolitan statistical areas (MSAs) shows that all areas studied have improved in on-time credit card payments since 2007. However, the study shows that nationwide growth in mortgage delinquencies outweighs the improvements in card payments. In terms of credit card payments, Cleveland, San Antonio and Cincinnati all improved [...]

  • Credit card late payments fall to 1996 levels, says TransUnion

    Credit card delinquencies dropped to levels unseen since the Clinton Administration, according to a report from credit reporting bureau TransUnion. The percentage of consumers behind 90 days or more on their credit cards fell to 0.74 percent during the first quarter of 2011, as indicated by TransUnion's consumer credit database. Down from 0.82 percent in [...]

  • Credit card delinquencies down as mortgage default rates improve

    According to new figures released by TransUnion May 5, American consumers are paying off credit card debt at the fastest rate since the economic downturn in 2008, while mortgage delinquencies are following a similar positive trend. TransUnion is one of the three major credit bureaus that keep track of credit history and credit ratings for American [...]

  • Falling delinquency rate could signal spike in new credit card deals

    Instant approval credit card offers could ramp up again in 2011, if industry analysts' predictions about major lenders come true. According to a report from Fitch Ratings, U.S. credit card portfolios improved again in the first quarter of 2011. Just as unemployment figures have dropped in most parts of the country, the percentage of "written off" [...]

  • Credit card charge-offs fall again in September

    Credit card account charge-offs fell again for another month at most major lenders, according to reports by Dow Jones and Bloomberg. Many credit card industry analysts review default and delinquency rates as key indicators for the nation's economic recovery. Steadily falling charge-off rates indicate increasing stability among credit card issuers, who have used new guidelines [...]

  • American Express Announces 18-Month Low in Credit Card Delinquency Rate

    Officials at American Express announced that its monthly percentages of charged-off and delinquent credit card accounts had fallen to their lowest rates in eighteen months. During June 2010, the credit card issuer wrote off only 5.7% of accounts as 180-days past due, down from May's 6.3% figure. AmEx also saw delinquency rates fall to just [...]

  • Credit Card Delinquency Rates Continue to Fall

    Credit card delinquency and default rates continued their general decline in May, cheering investors and signaling overall economic improvement. Despite banking industry concerns about a new wave of government regulations that could limit profits, easing of 30-day late accounts and charge-offs helped credit credit card issuers retain more revenue compared to the previous month.Capital One [...]

  • Credit Card Delinquencies Down Again in April

    Credit card delinquencies among Americans declined for the fourth straight month, according to government filings from major banks. Discover Financial Services, Bank of America, and Capital One all told federal regulators that fewer of their account holders fell behind on payments in April. Economists often cite credit card delinquency rates as a correlation to overall [...]

  • Citi Credit Card Delinquencies Rise Near 6% in February

    Credit card issuers may rejoice at the sight of fewer missed payments, but lenders' overall charge-off rate still remains high, according to a recent banking industry survey published on TheStreet.com. Of the six largest credit card issuers, only Citi credit cards experienced a rise in delinquency rates from January to February 2010. Citigroup's percentage of customers missing one [...]

  • Credit Card Index Measures Record Number of 60-Day Delinquencies

    A soft labor market pressured American credit card holders in December, according to analysts from Fitch Ratings. The company's December 2009 Credit Card Index measured Americans' ability to manage debt in November, with troubling results. Important indicators of accountholders' cash flow cycles remained near or exceeded record highs.4.54% of accounts in the index reached 60-day delinquencies, [...]

  • TransUnion Predicts Fewer Credit Card Delinquencies in 2010

    TransUnion officials hope that early signs of lower credit card delinquencies will lead to real economic recovery in 2010, according to reports in USA Today and the Wall Street Journal. Documents released to the newspapers and slated for public release this week indicate that the credit bureau expects the number of credit card holders with 90-day-late [...]

  • Credit Card Default and Delinquency Rates Send Mixed Signals

    Conflicting metrics have some credit card industry analysts scratching their heads as lenders anticipate an unusual holiday season. On one hand, most major credit card issuers have reported drops in the number of account defaults during the month of October. However, an increase in the number of delinquent accounts could either mean that cardholders are [...]

  • Shrinking Credit Card Defaults Cheer Issuing Banks

    Credit card default rates have caught the attention of armchair economists over the past year. Officials from American Express told reporters that it wrote off just 8.4 percent of cardholder balances in September, down from a peak rate of 9.2 percent in July. Likewise, Discover Card reported a default rate of 8.69 percent in September, improving from [...]

  • Drops in Credit Card Default Rates Send Bank Stocks Higher

    Wall Street investors see positive signs in the credit card industry as a sign of improvement in the overall economy, according to numerous news wire reports this week. Shares of many major lenders, including Capital One and American Express, rose on the news of improved default rates among credit card customers in June. By tracking [...]