BACK

Research and Statistics

Fewer Americans are delinquent on their bank cards

Summary

Consumers’ bank card delinquencies, already at historically low levels, dropped further in the first quarter of 2014. The American Bankers Association says it’s a sign that more people are using cards as transaction tools instead of debt instruments

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

Consumers’ credit card delinquencies, already at historically low levels, dropped significantly in the first quarter of 2014, the American Bankers Association (ABA) said.

Bank card delinquencies fell from 2.6 percent in the fourth quarter of 2013 to 2.44 percent in the first quarter of 2014. That’s well below the 15-year average of 3.82 percent.

James Chessen, the association’s chief economist, says more consumers are paying off or paying down balances each month.  ABA’s quarterly Credit Card Market Monitor found that increasingly, credit card users are using their cards as a transactional tool rather than as a form of debt.

At the end of each quarter, the association surveys about 250 FDIC-insured banks to collect consumer loan delinquency data. The panel includes top consumer lenders in each state and smaller institutions sampled by consumer loan portfolio size.

See related:Carrots offered, sticks abandoned: Card issuers lure late payers, More infographics

To use the graphic on your site, use the following code:

 <center><a href=”https://www.creditcards.com/credit-card-news/aba_survey-fewer-americans-delinquent-bank-cards-1701.php”><img alt=”CreditCards.com infographic: Fewer Americans are delinquent on their bank cards” border=”0″ src=”https://www.creditcards.com/credit-card-news/images/infographic-cc-delinquencies.jpg” /></a> </center>

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Research and Statistics

Rate survey: Credit card interest rates rise for the second straight week

July 9, 2014: Interest rates on new card offers rose Wednesday for the second consecutive week, according to the CreditCards.com Weekly Credit Card Rate Report

See more stories
Credit Card Rate Report Updated: March 25th, 2020
Business
14.34%
Airline
16.33%
Cash Back
16.55%
Reward
16.49%
Student
16.51%

Questions or comments?

Contact us

Editorial corrections policies

Learn more

Join the Discussion

We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.