Average US credit card debt per borrower up in 3Q

By: The Associated Press
By: The Associated Press

An analysis of consumer-credit data shows that Americans are carrying more credit card debt and being less diligent about making payments on time.

Credit reporting agency TransUnion said Monday that the average credit card debt per borrower in the U.S. grew 4.9 percent in the third quarter from a year earlier.

Meanwhile, the rate of credit card payments at least 90 days overdue rose to 0.75 percent, up from 0.71 percent in the third quarter of last year.

While higher, the late payment rate is inching higher from historically low levels.

That suggests that most cardholders continue to prioritize their card payments over other financial obligations, such as their mortgage.

TransUnion forecasts that severe delinquency rates on cards will remain near current low levels in the fourth quarter.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email: newscenter16@wndu.com
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 179925041 - wndu.com/a?a=179925041
Gray Television, Inc.