Summary
U.S. consumers improved their on-time payment performance on credit card bills during the first quarter, despite shrinkage in the economy
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.
Delinquencies on bank-issued credit cards fell slightly to 2.49 percent of all accounts in the first quarter, from 2.52 percent. The bankers’ group counts missed payments more than 30 days overdue as a delinquency.
“Delinquencies for credit cards have remained remarkably stable at historically low rates,” ABA Chief Economist James Chessen said in a statement. Over the past 15 years, the average delinquency rate was 3.76 percent.
The economy shrank at an annual rate of 0.2 percent in the first quarter, as measured by gross domestic product. Consumers’ ability to shrug off the downturn and continue improving their financial footing “speaks to sustained consumer discipline as Americans continue to use and manage their debt responsibly,” Chessen said.
Balances on revolving credit lines — mainly credit cards — rose a scant 0.4 percent annualized during the quarter, according to the Federal Reserve.
Consumers maintained discipline in other forms of debt. The ABA’s composite ratio of consumer loan delinquencies fell one basis point to 1.53 percent of accounts, compared to a 15-year average of 2.28 percent. The quarter saw significant drops in home equity loan and home equity line delinquencies.

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.