LOS ANGELES — Americans are carrying more credit card debt than a year ago, yet the late-payment rate for card holders remains near an 18-year low, an analysis of consumer-credit data shows.
The average credit card debt per borrower in the U.S. grew about 6 percent in the second quarter from a year earlier, credit reporting agency TransUnion said Tuesday.
At the same time, the rate of payments at least 90 days overdue inched higher to 0.63 percent from 0.60 percent in the same period last year, when the rate hit the lowest level in 18 years. Card delinquencies sank to 0.56 percent in the third quarter of 1994, the firm said.
The April-to-June figures reflect how consumers have been managing their credit card use since the start of the last recession toward the end of 2007.
Many borrowers have taken steps to save money and whittle down their debt. Among homeowners with a mortgage, many have made credit card bills a priority over their home loans and other financial obligations.
While late payments hover near lows not seen since the 1990s, cardholders have been racking up more debt.
Average credit card debt per borrower is $4,971, TransUnion said.
- 11 best—and worst—state tax systems
- Scotland votes to remain part of United Kingdom
- Review: Larger iPhones eliminate reason to...
- Iranian youth behind 'Happy' video sentenced
- How much America wants to be taxed
- 'Gotham' actor's Penguin inspired by DC Comics
- Chiefs' Reid dedicated to domestic abuse victims
- Fence-jumper made it through front door of...
- US wealth gap putting the squeeze on... 27
- Striking or spanking a child is not a... 19
- President Obama: Ebola outbreak a... 15
- Chicago, NY, Hawaii on Obama library's... 12
- School police stock up on free military... 11
- Yellen says US families need to boost... 10
- US won't rule out working with Iran... 7
- Gamers use police hoax to lash out at... 6