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Tuesday, July 9, 2013 - 9:58am
Credit card holders are more responsible about paying their bills than they've been in more than 22 years. That's according to an American Bankers Association report released today (tuesday).
It said delinquencies on bank-issued credit cards, on accounts that were 30 days or more overdue, fell to two-point-four percent in the first quarter of 2013. That's the lowest level since 1990.
The report also said delinquencies in 10 other lending categories, ranging from car loans to personal loans, also shrunk during the quarter. Representatives with the ABA said, "Many consumers have learned the hard lessons of recession, and have redoubled their efforts to keep debt at manageable levels."