Overdue credit cards hit 11-year low in Q2
A report is showing that more Americans are keeping up with their credit card payments.
The American Bankers Association says the percentage of bank-issued credit cards that were 30 days or more overdue fell to an 11-year low in the second quarter. That occurred as consumers keep a tighter grip on their finances amid economic uncertainty.
But the association says delinquencies rose on home-equity loans, home-equity lines of credit and home improvement loans in the April-June quarter. The association notes that it will take time for the recovery in the housing market to be reflected in lower delinquency rates.
Credit card delinquencies in the second quarter fell below 3 percent of total accounts for the first time since 2001, reaching 2.93 percent. That's down from 3.08 percent in the first quarter.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Visual search still hampered by image issues
- Healthy PA expands number of recipients but cuts benefits
- Young adults drive home rental trend in Western Pennsylvania
- Government approves compromise on Corbett’s alternative Medicaid plan
- Gas drilling company withdraws application for forced pooling in Western Pennsylvania
- Deported migrants find home at call centers
- 2 top technology officers leave UPMC
- S&P 500 flirts with 2,000
- Amazon to buy streaming video game platform Twitch
- States clear way for startups to use crowdfunding
- USDA updates dairy insurance program