Credit cards companies in the United States say that during the month of October defaults on credit cards were down yet the news is not all good as delinquencies (late payments) were up.
Earlier this year there was a drop in delinquencies that can be attributed to the lower defaults, but consequently, the increase in delinquencies points to an increase in defaults later on in the year.
Not surprisingly, delinquencies and defaults on credit cards both are closely related to unemployment, which is hovering at around 10%.
Related posts:
- Delinquencies Down But Total Recovery Still Pending The total delinquency rate for non-mortgage or real estate related...
- Credit Card and Mortage Delinquencies to Decline? In a sign of possible economic recovery, TransUnion, the credit-reporting...
- The Damage Is Done…How Common Credit Mistakes Affect Your Credit Score Most people are fully aware that a late payment or...
- Delinquencies and New Debt Both Down Delinquency rates on consumer debt is falling as fewer Americans...
- Credit Card Debt And Delinquencies Decline In some good news for the personal economy of many...
{ 0 comments… add one now }