Wednesday, November 20, 2019

Credit card delinquencies fall as other consumer delinquencies rise

Consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the ABA’s Consumer Credit Delinquency Bulletin.

Overall, delinquencies rose in eight of the 11 categories tracked by ABA while three categories fell.

The composite ratio, which tracks delinquencies in eight closed-end installment loan categories, rose 10 basis points to 1.88 percent of all accounts. It remains well below the pre-recession average of 2.09 percent (from the first quarter of 2002 to the third quarter of 2007).

The ABA report defines a delinquency as a late payment that is 30 days or more overdue. You can see the entire report and release from the ABA by clicking here.