There were fewer delinquent credit card accounts during the second quarter of 2012, according to one recently released study.
The report from TransUnion found that the percentage of credit card accounts that were 90 days late or more had dropped to 0.63 percent, falling from its rate of 0.73 percent during the first quarter. The levels represent one of the lowest figures since 1994, and reveal that more people are paying back debt in a timely fashion.
“The national credit card delinquency rate continues to remain at the lowest levels we’ve observed in 18 years,” said Ezra Becker, vice president of research and consulting in TransUnion’s financial services business unit. “These low delinquency rates reflect both continued conservatism in lender underwriting and the ongoing prioritization of card payments among consumers.”
Other reports from TransUnion have given insight into how people are using the merchant-services related financial products. The firm found that the amount of debt carried by the average consumer in the second quarter of this year increased 6 percent from the same period last year.
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