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
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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.

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