Credit Card Delinquencies Decreased and More Cards Opened
TransUnion, one of the three major credit bureaus, conducts a quarterly analysis of credit-active U.S. consumers and evaluates how they manage mortgages, credit cards and auto loans. This study covered the fourth quarter of 2011 and centered on credit cards. Credit card delinquencies decreased by almost 5 percent from one year ago, but average credit card debt increased by almost 5 percent.
Credit Card Delinquencies
Credit card delinquencies (those 90 days or more past due) were below historical norms at 0.78 percent in fourth quarter 2011 compared to 0.82 percent a year ago, which was a decrease of 4.88 percent. Even though average credit card debt remained near the record low, it increased from $4,965 in fourth quarter 2010 to $5,204 in fourth quarter 2011, or a 4.8 percent increase.
When comparing third quarter 2011 to fourth quarter 2011, credit card delinquencies and credit card debt per borrower increased due to seasonality. Cred
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