The leading credit card companies in the United States said that the number of people delinquent on payments had fallen during May.
The Wall Street Journal reports that despite continued economic uncertainty, more people were paying bills in a timely manner. Firms including Bank of America, Capital One, Discover Financial Services, J.P. Morgan, Citigroup and American Express all said there were fewer delinquency rates last month than in recent periods.
According to some experts, part of the reason for the lower numbers is the fact that companies have cut down on marketing. A study by Mintel Compermedia found that offers in April stood at 269.5 million, lower than the 389.6 sent out last year during the same period.
“Issuers have adopted a more cautious approach due to an uncertain economic environment,” Andrew Davidson, senior vice president for Mintel Comperemedia, said in an interview with the news source.
An earlier study found a similar downward trend. A report from TransUnion found that during the first three months of 2012, payments made 90 days past due or later fell 0.73 percent.Back To Blog