Credit Card Delinquencies Rise
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Delinquent credit card bills rose in the fourth quarter while late payments on auto and consumer loans declined, the American Bankers Assn. said. The trade group said 3.88% of credit card holders were late making payments by 30 days or more in the October-December period, up from 3.77% in the third quarter.
The dollar amount of credit card delinquencies rose to 4.67% of outstanding balances from 4.45% in the July-September period. The trend was opposite for closed-end installment loans for cars, home improvements and personal items such as vacations. Delinquencies for those loans fell to 2.34% in the fourth quarter from 2.40% in the third.
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