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Infographic: Credit card delinquencies inch up after three-year slide

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While consumers are paying many of their loans on time, late credit card payments saw an uptick in the third quarter of 2013, according to the American Bankers Association.

The ABA defines delinquencies as payments 30 days or more late. Delinquencies on bank-issued credit cards rose from 2.42 percent of all payments in the second quarter of 2013 to 2.55 percent. Meanwhile, the composite ratio, which tracks eight types of closed-end (fixed payment) loans, dropped to a record low: 1.63 percent of all payments were delinquent.  

Why the slight increase in the bank card delinquencies? They had fallen to a 19-year low in early 2013, a continuation of a steady slide that started in 2009. So there may have been nowhere to go but up. As it stands, bank card delinquencies remain well below the highs reached during the recession.

"While bank card delinquencies saw a slight uptick, rates are still more than 30 percent below their 15-year average," said James Chessen, ABA's chief economist, in a news release.  "It will be difficult for bank card delinquencies to improve further when they are already at such low levels."

The chart below shows the past five years of delinquency data for bank cards and the composite ratio, which includes auto loans, home equity loans, personal loans, and loans to finance boats, mobile homes and property improvement.

Credit card delinquencies

See related: Card delinquencies hit 22-year low, More infographics

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Published: January 10, 2014

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