WASHINGTON — Even though the economy has been weaker than many economists would want, a survey conducted by the American Banker's Association has found that credit card delinquencies have remained at 13 year lows.
In addition, the Association noted that those delinquencies have declined for three consecutive quarters. The Consumer Credit Delinquency Bulletin reported that delinquency based on total dollar outstanding in the first quarter stood at 3.46%, compared to 3.54% in the final quarter of 2006 and 3.44% in the first quarter of 2006.
Based on the numbers of accounts past due, delinquency stood at 4.41% in the first quarter of 2007, compared to 4.56% in the fourth quarter of 2006 and 4.40% one year ago.
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