ADVERTISER DISCLOSURE

Infographic: Credit card delinquencies on the decline

By Kristin McGrath | Published: January 3, 2013

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.

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

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.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

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.

Three most recent Infographics stories:

Credit card bills are first to go unpaid, Fed finds – When bills must go unpaid now, credit cards are at the top of the list, a Federal Reserve survey finds. That changed during the recession, when credit card bills were paid because they were viewed as a financial lifeline ...
Small businesses often rely on credit cards, Fed study finds – Credit cards play a major role in financing small businesses, a new Fed survey finds. More than half of small businesses surveyed (51 percent) reported using credit cards for their operations on a regular basis ...
Who rolls over card debt and pays late? Study finds surprises – Among cardholders who roll over their debt from month to month, age and other financial obligations -- not income and education -- are factors in who pays on time and who pays late, a new Auriemma Consulting Group study finds ...

Editorial & Corrections Policy

Comments/Questions?

Quick Links

Credit Card Rate Report

Updated: 07-16-2018