WASHINGTON – The American Banker’s Association has reported that credit card delinquencies remained relatively flat in the third quarter of 2004 even as delinquency on other sorts of loans such as autos increased. “The results are mixed,” said James Chessen, ABA’s chief economist. “The slight improvement in credit card delinquencies leaves us cautiously optimistic. More than 95% of credit card customers are making timely payments. However, increased delinquencies with home equity loans and auto loans are an indication of ongoing financial stress for some consumers.” Based on the number of credit card accounts, 4.26% (seasonally adjusted) were overdue in the third quarter, a slight decrease from 4.28% in the second quarter. Based on total dollars outstanding, bank card delinquencies edged higher to 4.36% in the third quarter from 4.33% (not seasonally adjusted) in the second quarter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.