LOS ANGELES — Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt.
The rate of credit card payments at least 90 days overdue fell to 0.69 percent in the first quarter from 0.85 percent a year earlier — a drop of nearly 19 percent, credit reporting agency TransUnion said Tuesday.
The January-March card delinquency rate was also down from 0.73 in the October-December quarter, when many consumers ramped up credit use to finance holiday season purchases.
While down, the late-payment rate is above historically low levels. The lowest late-payment rate on TransUnion records going back to the mid-1990s was 0.56 percent, set in the third quarter of 1994.
All told, the card-delinquency rate has averaged 1.03 percent since 1992, said the firm, whose credit trend data is based from a sample of 27 million consumer records.
- Employee error ruins 41 acres of Salt Lake...
- Young entrepreneurs strut their stuff in bid...
- What 'The Office' teaches us about job...
- Park City approves lift connecting 2 ski resorts
- Astronauts board space station for 1-year...
- Salt Lake City to become next Google Fiber city
- Colorado drilling plan has safeguards for...
- Bill before Utah governor to regulate...
- Salt Lake City to become next Google... 17
- UTA board approves new pay plan for... 11
- AP Investigation: Slavery taints global... 6
- Oil council: Shale won't last, Arctic... 3
- Employee error ruins 41 acres of Salt... 3
- Internet outages reveal gaps in US... 2
- Astronauts board space station for... 2
- Stericycle medical waste incinerator... 2