Despite an uptick at the end of 2014, delinquencies for credit cards issued by banks remained well below the 15-year average, American Bankers Association research shows
The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.
Consumers have fresh confidence in the economy, but remain wary about adding additional debt, including credit cards, the American Bankers Association says.
“As credit access and consumer spending increase, the overwhelming majority of cardholders continue to pay off or pay down their balances month after month,” chief ABA economist James Chessen said in a news release. “We expect this trend to continue as consumers remain laser-focused on keeping debt at manageable levels.”
The association’s credit card findings are in line with the other 10 types of loans tracked by the ABA in its quarterly bulletin. “Consumers have regained confidence since the last recession, but they remain careful about taking on additional debt,” Chessen said.
The data were collected at the end of 2014 from a panel of 250 FDIC-insured financial institutions. Banks from each state were included. Delinquency ratios reported by individual banks were weighted by portfolio size to derive the summary ratios.
To use the graphic on your site, use the following code: