Cardholder delinquency at lowest level in at least 7 years
By Juan Rodriguez and Laura Mohammad | Published: September 8, 2014
The percentage of Americans who are delinquent in their credit card accounts is at its lowest in at least seven years, credit bureau TransUnion reported in a quarterly study.
Looking at the second quarter of 2014, TransUnion found that only 1.16 percent of credit-active consumers were delinquent, the lowest since at least the second quarter of 2007, the oldest data available. There was an almost 9 percent drop from the second quarter of 2013, when the figure was 1.27 percent, when compared to the same period in 2014.
When the second quarters of 2013 and 2014 were compared, Americans between the ages of 30 and 39 saw the biggest drop, at more than 10 percent. The oldest consumers had the lowest delinquency rate: Among those 60 and older, it was 0.68 percent.
The quarterly report is generated from anonymized credit data from virtually every credit-active consumer in the U.S. Delinquent borrowers are defined as those who had not been current on their credit cards for 90 days or more.
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