BACK

Research and Statistics

Infographic: Credit card delinquencies on the decline

Summary

Delinquent payments on credit cards hit an 18-year low in the third quarter of 2012, according to numbers from the American Bankers Association

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.

Delinquent payments on credit cards hit an 18-year low in the third quarter of 2012, according to numbers from the American Bankers Association (ABA). Credit card payments more than 30 days late fell to 2.75 percent of all payments, a low not seen since 1994.

In the chart below, similar downward slides are evident in auto loan delinquencies and delinquencies overall. It’s the result of recession-weary consumers trying to shed debt, said James Chessen, ABA’s chief economist, in a news release.

“Consumers are paying close attention to their finances as they continue to pay down debt in an uncertain economy,” Chessen said.  “The conservative approach consumers have taken to credit over the last several years has allowed them to better manage their debt and better position themselves for the future.”

 Delinquencies on home equity loans are the only ones on a rise. As with other types of loans, delinquecies on home equity loans spiked when the recession hit in 2008. Unlike other types of loans, though, the delinquency rates on home equity loans have not fallen back down.

Credit card delinquencies on decline
See related:Life cycle of a delinquent credit card account

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

 <center><a href=”http://www.creditcards.com/credit-card-news/infographic-credit-card-defaults-decline-1701.php”><img alt=”CreditCards.com infographic: Credit card delinquencies hit 18-year low” border=”0″ src=”http://www.creditcards.com/credit-card-news/images/infographic-hist-data-sheet-3q-2012.jpg” /></a> </center>

What’s up next?

In Research and Statistics

Military gets thicker armor against predatory loans

Congress creates new enforcement powers for law that protects soldiers from high-rate payday loans

Published: January 2, 2013

See more stories
Credit Card Rate Report Updated: April 24th, 2019
Business
15.32%
Airline
17.50%
Reward
17.58%
Cash Back
17.60%
Student
17.79%

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.